Ethereums Strongest Support Zone: Over 10 Million Wallets Hold the Line
According to data shared by Ali Martinez from Sentora (formerly IntoTheBlock), this range is where over 10 million unique addresses collectively hold more than 69 million ETHmaking it the most significant demand zone on the Ethereum network.
Why This Range Matters
The highlighted support zone is backed not only by volume but also by market psychology. When such a high concentration of ETH is held at a specific price range, it acts as a major in the money zone, where most holders are still in profit. This gives them little incentive to sell and increases the likelihood that theyll defend their positions during price pullbacks.
In this case, the green bubbles on the chartsized by the volume of ETH heldindicate that these holders bought ETH between $2,060 and $2,420. This cluster of ownership provides strong price support. As long as ETH remains above this level, any downward moves are likely to be met with buying pressure from holders looking to accumulate more or protect their entries.
A Look at the Numbers
- Addresses: 10.04 million
- ETH Held: 69.03 million ETH
- Percentage In the Money: 80.6% of all tracked wallets
ETH Supply Represented: $302.9 billion worth of ETH currently in the money
This kind of ownership distribution also enhances Ethereums on-chain stability. With such a wide base of profitable holders, sudden sell-offs are less likely, reducing downside volatility.
Implications for Traders and Investors
For short-term traders, this support floor offers a clear reference point for stop-loss or re-entry strategies. For long-term investors, it reinforces the idea that Ethereums price structure is maturingwith large-scale, decentralized ownership anchoring its value.
If ETH stays above this critical range, it may soon regain upward momentum. On the flip side, a breakdown below $2,060 could trigger a wave of selling from previously profitable holders, leading to a steeper correction.
The post Ethereums Strongest Support Zone: Over 10 Million Wallets Hold the Line appeared first on Coindoo.
Read more: https://coindoo.com/ethereums-strongest-support-zone-over-10-million-wallets-hold-the-line/
Text source: Coindoo
