Ethereum (ETH) has established a solid support level at $2,370, indicating strong buyer interest to prevent further price drops.
Over 90% of ETH addresses are currently 'in the money,' with holdings valued higher than their purchase price.
Despite price volatility, the number of active Ethereum addresses has decreased in the past week due to market uncertainty and reduced speculative interest.
Analysts believe Ethereum's support at $2,370 reflects investor confidence, with many holders unwilling to sell below this level, leading to further price stability.