Analyst: ETH Tests Key Cost Level of $2,340, Price May Become a Bull-Bear Watershed

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On April 23, analyst Ali Charts stated that ETH is currently testing a critical level that has historically distinguished between bear markets and macro expansion phases. ETH is currently trading close to its realized price of approximately $2,340, which represents the average cost for all on-chain investors. Historically, during market recovery phases, the realized price often acts as a ‘selling pressure wall,’ where investors tend to sell to break even at this level. However, once this level is successfully converted into a support level, ETH typically enters a phase of high certainty expansion.

ETH-3.87%
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