ETH’s next big move depends on daily close above $2.1K: Data

Written by Biraajmaan Tamuly , Staff Writer Reviewed by Ray Salmond , Staff Editor ETH’s next big move depends on daily close above $2. 1K: Data 1 hour ago ETH bulls briefly pressed the price above the $2,000 to support, but will a positive funding rate and increase in holder profitability generate sufficient momentum to hold the level? Listen 0:00 Altcoin Watch Cointelegraph in your social feed Subscribe on Join our Ether ( ETH ) price reached a weekly high of $2,150 on Thursday, which is a key level for large ETH holders, but volatility in the crypto and stock markets continues to catalyze corrections below $2,000. A daily close above $2,100 remains important because that level aligns with the cost basis and realized price of wallets holding 100,000 or more ETH. Realized price tracks the last moved price of coins, offering a profitability gauge rather than a spot reference. ETH realized price by balance cohorts. Source: CryptoQuant Since 2020, Ether has traded below this whale cohort’s realized price only a handful of times, most notably during the 2022 bear market. The chart shows that the price has regularly recovered after the realized price level was tested as support.