The post Will Ethereum Hold Strong at $1,890? appeared on BitcoinEthereumNews.com.

Ethereum’s price is currently testing vital support levels amidst a broader market correction. According to Glassnode, the $1,890 mark is highlighted as a pivotal accumulation area for the cryptocurrency, suggesting that it may provide a solid foundation against potential selling pressure. However, should the downward momentum intensify, Ethereum could experience a further decline below this critical threshold. The Significance of the $1,890 LevelWhat Happens if $2,100 Support Fails? The Significance of the $1,890 Level Data from Glassnode’s Cost Basis Distribution indicates that a substantial amount of Ethereum, amounting to 1.82 million ETH, was purchased at the $1,890 level. This strong accumulation suggests that many investors are likely to defend this price point, potentially lending support to Ethereum’s value. What Happens if $2,100 Support Fails? Should Ethereum continue its downward trend, the next notable support level is $2,100, which has seen only 500,000 ETH purchased. This indicates a weaker foundation compared to the critical $1,890 level. If Ethereum’s price falls below $2,100, the focus will shift to the $1,890 mark as a vital defensive threshold. Key points to consider include: The $1,890 level serves as a significant support zone backed by strong accumulation. A break below $2,100 would likely trigger further selling pressure around $1,890. Long-term holders are inclined to maintain their positions rather than react to short-term volatility. As the market dynamics evolve, Ethereum’s ability to maintain its footing at $1,890 will be crucial. If it falters, the implications for the cryptocurrency’s price trajectory could be considerable, potentially leading to more pronounced declines for ETH holders. Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research. Source: https://en.bitcoinhaber.net/will-ethereum-hold-strong-at-1890

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Filed under: News - @ March 1, 2025 8:25 pm