Close Menu
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
  • Blockchain
  • DeFi
  • Metaverse
  • Regulation
  • Other
    • Exchanges
    • ICO
    • GameFi
    • Mining
    • Legal
  • MarketCap
What's Hot

Institutions and ETFs Now Control Over 9% of Ethereum Supply

04/09/2025

CDARI Taps Hive Intelligence to Drive AI-Powered Blockchain Insights

04/09/2025

Fed Frontrunner Christopher Waller Gives Institutions the Green Light to Ethereum and Stablecoins

04/09/2025
Facebook X (Twitter) Instagram
  • Back to NBTC homepage
  • Privacy Policy
  • Contact
X (Twitter) Telegram Facebook LinkedIn RSS
NBTC News
  • Coins
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. NFT
    5. View All

    Price Breaks All-Time High Record Again – Here’s What We Know

    04/08/2025

    Bitcoin Switzerland? El Salvador to Host First Fully Native Bitcoin Capital Markets

    04/08/2025

    Bitcoin Breaks $119K, but XLM and HBAR Aren’t Impressed by Its Meager Percentage Gain

    04/08/2025

    High-Stakes Consolidation Could Define Q3 Trend

    04/08/2025

    Institutions and ETFs Now Control Over 9% of Ethereum Supply

    04/09/2025

    Fed Frontrunner Christopher Waller Gives Institutions the Green Light to Ethereum and Stablecoins

    04/09/2025

    Whale Risks Liquidation With $297M ETH Long

    04/09/2025

    Ethereum Sees Contract Boom In 2025, Setting Stage For $5,000 Rally

    04/09/2025

    The Sui Ecosystem’s Top 3 Altcoin Performers

    29/07/2025

    Floki Launches $69000 Guerrilla Marketing Challenge With FlokiUltras3

    28/07/2025

    Crypto Beast denies role in Altcoin (ALT) crash rug pull, blames snipers

    28/07/2025

    $1.6 Billion XRP Surge: Here’s What’s Unfolding

    28/07/2025

    CARDS token surges 200%+ as Raydium brings its tokenized Pokemon cards onchain

    04/09/2025

    ‘NFTs Turned Out to be a Fad,’ Says Kevin O’Leary as He Buys $13M Collectible Card

    04/09/2025

    Gotta Catch ‘Em All? Tokenized Pokémon Cards Are Exploding Right Now

    04/09/2025

    Ethereum NFT Activity Plummets to Lowest Level Ever Recorded

    03/09/2025

    Institutions and ETFs Now Control Over 9% of Ethereum Supply

    04/09/2025

    CDARI Taps Hive Intelligence to Drive AI-Powered Blockchain Insights

    04/09/2025

    Fed Frontrunner Christopher Waller Gives Institutions the Green Light to Ethereum and Stablecoins

    04/09/2025

    The Hashgraph Group launches ‘TransAct’ to bring crypto-free transactions

    04/09/2025
  • Blockchain

    CDARI Taps Hive Intelligence to Drive AI-Powered Blockchain Insights

    04/09/2025

    The Hashgraph Group launches ‘TransAct’ to bring crypto-free transactions

    04/09/2025

    Coinbase CEO Drops Major Solana News as Key Integration Goes Live

    04/09/2025

    Vanar Taps Plena Alliance Brings AI Wallet Tech to Kickstart Web3 Projects

    04/09/2025

    Silent Data Becomes First Privacy-Focused Layer 2 to Join Ethereum’s Superchain

    04/09/2025
  • DeFi

    Framework Ventures-Backed Stablecoin Protocol USDAI Hits $110M in TVL

    04/09/2025

    Bitkub Exchange Joins Scallop to Advance DeFi Opportunities in Thailand

    04/09/2025

    Unpacking a $300 Million Move to Aave

    04/09/2025

    Kasu Secures $1M Strategic Investment from XDC Network

    04/09/2025

    Velocity Labs and Partners Launch DeFi Builders Program to Accelerate DeFi Innovation on Polkadot Hub

    04/09/2025
  • Metaverse

    Metaverse developer The Sandbox lays off 50% of staff and pivots to meme coin launchpad

    28/08/2025

    Meta Breaks Up AI Lab as Part of Superintelligence Push

    20/08/2025

    The Sandbox Game Maker: Unleashing Revolutionary Metaverse Experiences

    07/08/2025

    Where Has the Metaverse Gone? Examining a Failed (and Costly) Trend

    01/08/2025

    From Metaverse to Machine Learning, Inside Meta’s $72 Billion AI Gamble

    31/07/2025
  • Regulation

    Circle Touts $658 Million in Annual Revenue as Q2 Results Drop

    02/09/2025

    Tokenized Gold Will Eat Bitcoin’s Lunch

    02/09/2025

    South Korea’s retail investors ditched big tech stocks and shifted to ETH-related stocks

    02/09/2025

    Elon Musk Revisits His Historic Tweet, Which Exploded Market in 2021

    02/09/2025

    Hyperbeat Secures $5.2M Backing From ether.Fi, Electric Capital

    02/09/2025
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    Binance Becomes First Exchange to List Trump-Linked WLFI Token

    04/09/2025

    Celo Hard Fork: Upbit’s Crucial Suspension Explained

    04/09/2025

    South Korea’s Upbit Lists Trump-Linked WLFI And USD1

    04/09/2025

    Binance Announces Eye-Catching Listing News! Project Backed by US President Donald Trump Listed! Details Here

    04/09/2025

    ICO for bitcoin yield farming chain Corn screams we’re so back

    22/01/2025

    Why 2025 Will See the Comeback of the ICO

    26/12/2024

    You Can Earn Bitcoin By Playing These Free Games

    03/09/2025

    XRP Ledger Gets Its Game On as B3 Network Expands From Ethereum

    02/09/2025

    The Biggest Games Releasing in September 2025

    31/08/2025

    OKX Wallet Taps Shaga to Offer Secure Web3 AAA Gaming

    31/08/2025

    August Unveils Impressive 657 BTC Haul

    04/09/2025

    Bitcoin’s Price Is Flat, but the Hash Rate Just Hit a Record High

    04/09/2025

    KuCoin targets 10% of Dogecoin mining capacity via new mining platform

    03/09/2025

    Trump-Linked American Bitcoin Soars 60%, Targets $2.1B Share Sale After Nasdaq Debut

    03/09/2025

    How The UK’s Crypto Tax Maze Is Driving Users Away

    04/09/2025

    What to expect with US crypto policy as Congress comes back in session

    04/09/2025

    South Korea’s SEC Chair Nominee’s Cryptocurrency Comments Spark Major Debate

    04/09/2025

    77 suitors pile into Hong Kong’s stablecoin waiting game

    04/09/2025

    Institutions and ETFs Now Control Over 9% of Ethereum Supply

    04/09/2025

    CDARI Taps Hive Intelligence to Drive AI-Powered Blockchain Insights

    04/09/2025

    Fed Frontrunner Christopher Waller Gives Institutions the Green Light to Ethereum and Stablecoins

    04/09/2025

    The Hashgraph Group launches ‘TransAct’ to bring crypto-free transactions

    04/09/2025
  • MarketCap
NBTC News
Home»Ethereum»Ethereum Could See A Steep Decline If It Closes Below This Level
Ethereum

Ethereum Could See A Steep Decline If It Closes Below This Level

NBTCBy NBTC11/10/2023No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


On-chain data suggests an Ethereum close under the $1,530 level could lead to a significant drawdown for the cryptocurrency.

Ethereum Support Levels Below $1,530 Are Very Thin Currently

In a new post on X, analyst Ali has discussed what the support and resistance levels of Ethereum are looking like right now. These support and resistance levels aren’t the technical ones, however, but rather ones based on on-chain analysis.

The support and resistance levels here are defined based on the density of investors’ cost bases. The “cost basis” here refers to the average price at which an investor acquires their coins on the blockchain.

Whenever the spot price interacts with a holder’s cost basis, they may be more prone to make a move. How the investor may react depends on the surrounding price trend.

If the Bitcoin price was earlier under the cost basis of the holder (meaning that they were in a state of loss), the asset recovering back to it could tempt the investor into selling, as they may fear that their coins would go into losses again, so exiting at break-even would seem like the better option.

On the other hand, if the price retests the cost basis from above, the investor may decide to accumulate more, thinking that if they were able to go into profits with an earlier buy at the same level, they might be able to do so once more.

Naturally, not all investors think like this, but if there are price ranges where a large amount of coins were purchased, behaviors like this might become visible on non-negligible scales.

The below chart shows how the various Ethereum price ranges look like right now based on the density of cost bases that they host:

The various ETH resistance and support levels according to on-chain data | Source: @ali_charts on X

In the above graph, the larger the circle for a price range, the more Ethereum addresses’ cost bases lie inside it. As mentioned before, levels that are particularly dense are more likely to show reactions to retests from the spot price. This means that large circles above the price can act as resistance, while those below can provide support.

From the chart, it’s visible that the current Ethereum price range has only modest on-chain support, while the higher levels are pretty dense with cost bases, so a move up would face a potentially large amount of resistance.

What’s worse, however, is the fact that the levels below the current range are quite thin, implying that there isn’t much support down there.

“Keep a close watch, as a daily close below $1,530 could signal a steep correction ahead for ETH,” warns the analyst.

ETH Price

Ethereum is currently trading around the $1,575 mark, meaning that it isn’t that far from the $1,530 level where support would end.

Ethereum Price Chart

ETH has seen some decline in the last few days | Source: ETHUSD on TradingView

Featured image from DrawKit Illustrations on Unsplash.com, charts from TradingView.com, IntoTheBlock.com


Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
NBTC

Related Posts

Institutions and ETFs Now Control Over 9% of Ethereum Supply

04/09/2025

Fed Frontrunner Christopher Waller Gives Institutions the Green Light to Ethereum and Stablecoins

04/09/2025

Whale Risks Liquidation With $297M ETH Long

04/09/2025

Ethereum Sees Contract Boom In 2025, Setting Stage For $5,000 Rally

04/09/2025
Add A Comment

Comments are closed.

Top Posts
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook X (Twitter) LinkedIn RSS
Top Insights

Institutions and ETFs Now Control Over 9% of Ethereum Supply

04/09/2025

CDARI Taps Hive Intelligence to Drive AI-Powered Blockchain Insights

04/09/2025

Fed Frontrunner Christopher Waller Gives Institutions the Green Light to Ethereum and Stablecoins

04/09/2025
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Type above and press Enter to search. Press Esc to cancel.