The accumulation address of ETH shows an important support zone at 2,900 USD.

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According to the latest data from CryptoQuant, the accumulation addresses of Ethereum (ETH) are currently recording an average execution price of about 2,900 USD. This is considered a notable milestone, as this price has risen to the sky from 1,700 USD earlier due to the effects of the growth momentum of Ethereum ETF funds.

Not only that, the total ETH balance at accumulation addresses has reached 27.6 million ETH, indicating strong long-term confidence and holding trends from investors. In a negative scenario, the level of 2,900 USD is assessed to potentially become an important support zone for the market, helping to limit the risk of deeper declines.

ETH-6.35%
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