Ethereum Rally Hit by Resistance Near $2,580 as Profit-Taking Occurs

Ethereum experienced a notable surge from $1,800 to $2,500 driven by low concentration of holdings in that price range, according to on-chain data from Glassnode. However, this upward momentum was met with resistance near $2,580, which historically held approximately 1.3 million ETH. As prices approached this level, the supply sharply decreased to only 1 million ETH, suggesting many holders sold off at or close to their purchase price—a common indication of profit-taking activity.