Ethereum Resistance Looms as 5.58 Million ETH Held in Key Zone

Analysis reveals a significant concentration of Ethereum holdings at a key price point. Roughly 4.54 million wallets currently hold a combined 5.58 million ETH, purchased between $1,805 and $1,857 – an area that is now considered a major resistance zone. This high volume within this range signals potential sell pressure as Ethereum trades near the resistance level of $1,803. 44.23% of ETH holders are currently in profit while 54.90% are still holding losses. The on-chain chart visually maps wallet profitability. Red bubbles signify addresses