Ethereum Approaches $2,500: Cost Basis Analysis Reveals Crucial Support Levels

Ethereum (ETH) is showing renewed strength, pushing past recent downtrend lows and aiming to re-claim the $2,700 level. The token’s current price hover above $2,500 as bullish sentiment builds, with market indicators suggesting a potential for further surges. A key driver in this resurgence is the increasing average cost basis of Ethereum investors, with data from CryptoQuant indicating crucial support levels based on investor groups’ buying patterns.