Ethereum Faces Strong Resistance Near $1,860, Analyst Says

In Brief:

Ethereum encounters resistance at $1,860, where 4.54 million wallets hold 5.58 million ETH.

Analyst @ali_charts highlights the significant price level as a barrier to further price gains.

Ethereum (ETH) is currently facing significant resistance near the $1,860 price level, according to market analyst @ali_charts. This resistance arises from the fact that a total of 4.54 million wallets hold 5.58 million ETH at this specific price point.

The price of Ethereum has struggled to push past this level, making it a key area for traders and investors to watch. As Ethereum nears this resistance, the volume of ETH held in wallets around this price point suggests that many investors may be looking to take profits, further solidifying the price barrier.

For Ethereum to break above the $1,860 level, it would likely require a combination of strong market momentum and increased buying interest. Traders are paying close attention to this price zone to gauge the potential for future price movements.

The ongoing struggle at the $1,860 resistance point highlights the challenges Ethereum faces as it aims to reclaim higher price levels in the wake of broader market trends.

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