Ethereum is approaching the 2,800 USD support level after a 20% correction. Despite the recent downtrend, technical analysis suggests a possible recovery. If Ethereum maintains this support, a significant upward Movement to 6,000 USD may occur. Short-term indicators show a bullish reversal around the 3,000 USD level.
Current on-chain metrics reveal increased selling pressure, yet the majority of ETH holders remain profitable. In fact, 76% of ETH addresses are still in profit. This reflects strong investor confidence in Ethereum and indicates a solid basis for further price ascension. The strong support at 2,800 USD remains pivotal for future growth.
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