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

Trump-affiliated USD1 has $0 in excess reserves

19/07/2025

Collably Network and Buzzup Form a Big Partnership to Enhance Web3 Social and Financial Experience

19/07/2025

BPI Unveils Bitcoin Policy Manifesto Urging US Leadership

19/07/2025
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

    BPI Unveils Bitcoin Policy Manifesto Urging US Leadership

    19/07/2025

    How bond market helped push BTC to all-time high

    18/07/2025

    Strategy to Sell $2.1 Billion in Stock to Buy More Bitcoin

    18/07/2025

    Bitcoin Project Roxom Global Raises $17.9M to Build BTC Treasury, Create Media Network

    18/07/2025

    Will ETH Pull Back to $2.8K Before Next Leg Up?

    18/07/2025

    BlackRock Just Broke Major 2,000,000 Ethereum (ETH) Milestone

    18/07/2025

    How Will Coinbase Rebrand Its Wallet?

    18/07/2025

    Ether Sees Record Short Build up as Hedge Funds Pile on Basis Trade

    18/07/2025

    Trump-affiliated USD1 has $0 in excess reserves

    19/07/2025

    Solana ETF bump fizzles after $161 price spike

    18/07/2025

    Crypto Whales React to Trump’s ‘Big Beautiful Bill’—3 Altcoins See Accumulation

    18/07/2025

    XRP set for double-digit surge? Three powerful catalysts for Ripple to watch in July

    18/07/2025

    CryptoPunks Dominate Top Weekly NFT Sales amid Overall Market Sales Volume Surges 34.19% to $133.66 Million

    14/07/2025

    Volume Plunges While Transactions Soar

    11/07/2025

    Snoop Dogg’s TON NFT Launch Could Signal New Narrative for NFT Market

    10/07/2025

    Snoop Dogg’s Telegram NFT Drop Sold Out in Half an Hour

    10/07/2025

    Trump-affiliated USD1 has $0 in excess reserves

    19/07/2025

    Collably Network and Buzzup Form a Big Partnership to Enhance Web3 Social and Financial Experience

    19/07/2025

    BPI Unveils Bitcoin Policy Manifesto Urging US Leadership

    19/07/2025

    Will ETH Pull Back to $2.8K Before Next Leg Up?

    18/07/2025
  • Blockchain

    Collably Network and Buzzup Form a Big Partnership to Enhance Web3 Social and Financial Experience

    19/07/2025

    Galxe and 0G Labs Team Up to Build Powerful Web3 dApps With AI and Blockchain

    18/07/2025

    Solana and BNB Behind Blockchain’s Biggest Week Yet — Everything to Know

    18/07/2025

    Grvt Launches On-Chain Investment Marketplace

    18/07/2025

    Bitkub Exchange Collaborates with Delorean Labs for RWA Innovation and Tokenized Mobility

    18/07/2025
  • DeFi

    Blazpay Forges Partnership with X1 EcoChain to Advance Sustainable DeFi

    18/07/2025

    SolvBTC Mints satUSD Stablecoin on BNB Chain for USD Collateral, BTC-Backed DeFi

    18/07/2025

    Mezo Launches Supernormal Foundation to Support BitcoinFi Growth

    18/07/2025

    Kana Labs and Rewardy Wallet Unveil Multi-Chain Swap Experience with Version 1.4.0

    18/07/2025

    StakeStone Unlocks New Era of DeFi with USD1 Vault

    18/07/2025
  • Metaverse

    Elon Musk’s xAI Quietly Fixed Grok by Deleting a Line of Code

    09/07/2025

    Bonk.fun Grabs 55% of Solana Token Issuance Share, Pushes BONK Demand

    08/07/2025

    Apple’s Top AI Exec Leaves For Meta Amid Aggressive Hiring Trend

    08/07/2025

    Automobili Lamborghini Unveils Digital Temerario and GT3 NFTs in Wilder World

    07/07/2025

    Microsoft’s AI Diagnoses Like House, Bills Like Costco

    02/07/2025
  • Regulation

    BioSig and Streamex eye $1.1b for a gold-backed treasury strategy on Solana

    18/07/2025

    66 Trademarks Signal Future of Korean Won Stablecoins

    18/07/2025

    Big Promise, Bigger Hurdles in the Race to Democratize Investing

    18/07/2025

    Global markets aren’t buying Trump’s tariff threats this time

    18/07/2025

    Bitcoin Exchange Binance Announces It Removed 5 Altcoins From Its Watchlist And Seed Tag List! What Does This Mean? Here Are The Details

    18/07/2025
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    Exchange-run launchpads average 10x gains but face scrutiny over steep valuations, opaque models

    18/07/2025

    MOEX to offer futures tracking the value of Ethereum

    18/07/2025

    Binance, KuCoin & Upbit Volumes Tank as Traders Flock to Decentralized Exchanges

    18/07/2025

    eToro Enters Singapore amid Approval of MAS Licence

    18/07/2025

    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

    CARV Joins Anomaly Games to Redefine AI-Led Gaming Interoperability

    18/07/2025

    GaFin Joins Efforts with Helium Wars to Redefine the Future of Web3 Gaming

    16/07/2025

    Crypto games are struggling in 2025, but big brands aren’t giving up

    15/07/2025

    R-Games and LoveBit Unite to Power ESG-Driven Web3 Gaming

    15/07/2025

    U.S.-Listed Bitcoin Miners Reach New Peak Share of Global Hashrate

    17/07/2025

    French lawmakers say country could generate $150M in annual revenue from Bitcoin mining

    17/07/2025

    Bitcoin Mempool Emptiness Sparks Network Security Concerns

    16/07/2025

    All-Time High Mining Difficulty, Quiet Google Trends—Is This the ‘Mature’ Bitcoin Bull Market?

    15/07/2025

    US President Donald Trump Makes Hot Remarks on Cryptocurrencies – Shares a Long Statement

    18/07/2025

    Here’s All The Bills Being Introduced In The U.S., Their Potential Impact, And All You Need To…

    18/07/2025

    Trump Vows to Push for New Crypto Bills in Congress

    18/07/2025

    NTS Unveils Tough Stance Against Digital Asset Tax Evasion

    18/07/2025

    Trump-affiliated USD1 has $0 in excess reserves

    19/07/2025

    Collably Network and Buzzup Form a Big Partnership to Enhance Web3 Social and Financial Experience

    19/07/2025

    BPI Unveils Bitcoin Policy Manifesto Urging US Leadership

    19/07/2025

    Will ETH Pull Back to $2.8K Before Next Leg Up?

    18/07/2025
  • 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

Will ETH Pull Back to $2.8K Before Next Leg Up?

18/07/2025

BlackRock Just Broke Major 2,000,000 Ethereum (ETH) Milestone

18/07/2025

How Will Coinbase Rebrand Its Wallet?

18/07/2025

Ether Sees Record Short Build up as Hedge Funds Pile on Basis Trade

18/07/2025
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

Trump-affiliated USD1 has $0 in excess reserves

19/07/2025

Collably Network and Buzzup Form a Big Partnership to Enhance Web3 Social and Financial Experience

19/07/2025

BPI Unveils Bitcoin Policy Manifesto Urging US Leadership

19/07/2025
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.