According to earnest losses on the Ethereum (ETH) cryptographic market, it fell by 17.08% last week, reaching only USD 2,104. While the outstanding Altcoin has shown some compact profits in the last 12 hours, the overall mood of the market remains bear.

ETH correction probably increased to USD 1,890 – here is why

The Eth market is currently moving after a forceful market correction with several analysts, who now distinguish potential key support levels. According to the most significant analytical company in the Glassnode chain, data from the basics of bases (CBD) indicate that Ethereum is ready to fall to 1,890 USD, which is another main accumulation zone.

In the context of CBD, it is used to identify significant levels of accumulation or resource. These identified zones often act as support or resistance and have an impact on price activities. Analysts in Glassnodes country that the main ETH accumulation zone below its current price is USD 1,890, at which investors purchased about 1.82 million ETH in August 2023.

Interestingly, the two -year CBD Ethereum analysis shows that some of those investors who collected ETH in August 2023 remain lively. In particular, a significant number of them increased the basis of costs on the cryptocurrency market in November 2024, while the lack of distribution at the summits of the range-which signals forceful trust in long-term price recognition.

It is worth saying, however, that USD 1,890 is not a direct support zone for the Eth market. Glassnode states that CBD also emphasizes USD 2,300 as the next support zone if the Ethereum correction is continued.

This level of support maintains only about 500,000 ETH much lower than accumulation using USD 1890. Although investors may expect that USD 2,300 will offer miniature -term support before ETH experiences a deeper correction to $ 1890.

Do ETH accumulate in connection with a decrease in prices?

In further analysis of the Ethereum Glassnode market, it also reveals that a six -month perspective based on costs trend shows forceful investor activity with cost levels much higher than the current market price, especially around 3,500 USD.

In particular, this basis of costs showed a gradual decrease, while increasing concentration. This development indicates that instead of initiating the sale, investors actively absorb market supply, when prices fall in anticipation of long -term profits.

At the time of writing, Ethereum trades at USD 2,250 after 3.84% profit on the last day. Meanwhile, its huge decrease over the past week increases monthly losses to about 30.48%. However, its market activity increased by 7.74% and is currently valued at $ 29.91 billion.