<ul data-eligibleForWebStory="true">On-chain data indicates strong support for Ethereum near the $2,200 level, with significant supply acquired in that range.Analyst Ali Martinez highlighted that if Ethereum falls below $2,200, the next major support zone could be around $1,160.Investors who purchased Ethereum in the $2,218 to $2,396 range might react strongly if a retest of that level occurs.Ethereum's current price is approximately $2,475, showing resilience above the on-chain demand zone at $2,200.