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TechFlow news: Blockchain analytics firm IntoTheBlock posted on X that Ethereum's price has reclaimed $3,000 but is facing significant resistance around $3,200. Approximately 2 million addresses traded at this price level and are currently underwater, potentially triggering sell-offs once they break even. Positive catalysts could prevent this scenario, with Ethereum ETFs serving as a potential driver for further upside.
Blockchain analytics firm IntoTheBlock posted on X, stating that Ethereum's price has reclaimed $3,000 but is facing significant resistance around $3,200. Approximately 2 million addresses that traded at this price level are currently underwater and may choose to sell once they break even. Positive developments could prevent this scenario, and the potential launch of Ethereum ETFs might serve as a catalyst for further upside.
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