Ethereum’s price action has hit a major roadblock, with resistance forming around the $2,800 level according to on-chain data from Glassnode. This potential turning point arises as long-term ETH holders approach profit levels, potentially driving selling pressure in the near future. 📊 Despite recent price gains, Ethereum’s active address growth has remained flat. Meanwhile, a significant cluster of investor cost basis levels is observed around $2,800 for $ETH. As prices approach this zone, sell-side pressure may intensify as many previously underwater holders look to secure their profits. 🤔 Glassnode highlights that the price surge over recent weeks has encountered resistance near the key $2,800 mark. This level coincides with a cluster of cost basis levels held by long-term investors who bought ETH at prices above $3,800 in December 2024 and saw significant value decline before rebounding. 📉 The recent price movements, however, have allowed these long-term holders to approach breakeven or even profits. Looking back from December 2024 to May 2025, Ethereum (ETH) experienced a significant decline from above $3,800 to near $1,600 before recovering. 📈 The post on Coin Edition.