Ethereum Price Hovers Near Whale Realized Cost Basis Around $2,500 As It Trades Above $3,200

Ethereum is trading above $3,200 while on-chain data shows its price moving close to the realized cost basis of wallets holding more than 100,000 ETH, near the $2,500 zone. This level, which has only been tested four times in the last five years according to CryptoQuant, has historically acted as a structural floor and coincided with major market turning points. At the same time, ETH faces resistance around its 50-day moving average and key overhead levels between $3,400 and $3,600.