Ethereum To $3,400? On-Chain Shows No Big Hurdles Ahead

On-chain data suggests Ethereum doesn’t face any dominant resistance levels until $3,417, something that could open up the path to the mark. Ethereum Cost Basis Distribution Shows Resistance Ahead Is More Spread Out In a new post on X, the on-chain analytics firm Glassnode has talked about how the Cost Basis Distribution is looking for Ethereum right now. The “Cost Basis Distribution” is an indicator that tells us about how much of the asset’s supply was last purchased at which price levels. Related Reading: Bitcoin Back At $109,000, But HODLer Profit-Taking Down 89% First, here is a chart that shows what the cryptocurrency’s latest breakout has been like from the perspective of this indicator: As displayed in the above graph, Ethereum has managed to break through a few notable supply levels with the latest price surge source: https://www.newsbtc.com/news/ethereum/ethereum-3400-on-chain-no-big-hurdles-ahead/