Ethereum Faces Market Correction with Key Support at $1,890
- Ethereum (ETH) declined by 17.08% over the past week, reaching a low of $2,104.
- The Cost Basis Distribution (CBD) metric indicates a potential decline to $1,890 as a major accumulation zone.
- Approximately 1.82 million ETH were acquired at the $1,890 level in August 2023.
- The immediate support zone is identified at $2,100 with around 500,000 ETH held.
- Ethereum trades at $2,250 with a market activity increase of 7.74%, valued at $29.91 billion.
Ethereum’s current market correction highlights key support levels at $2,100 and potentially deeper at $1,890 where significant accumulation occurred in August 2023.
Source (2.6)https://www.newsbtc.com/news/ethereum/ethereum-key-support-cost-basis-data-points-to-1890-as-make-or-break-level/?rand=52377
