PANews reported on June 11 that according to glassnode data, ETH has broken through a one-month consolidation range. The cost basis distribution shows that 1.3 million ETH are held in the $2,700-2,740 range, and 800,000 ETH have accumulated near $2,760, with these investors potentially forming a strong support zone during the consolidation period.
Above the spot price, the cost basis distribution is relatively uniform, with 200,000-400,000 ETH held in each $50 bandwidth between $2,760 and $3,420, with no significant resistance until approximately 608,000 ETH are held at $3,417. If the support zone between $2,700-$2,760 remains effective, ETH may technically challenge $3,420. However, the market reaction of holders in the $2,800-$3,300 range will determine the speed of ETH's rise.
