Over 10 million unique addresses collectively hold more than 69 million ETH in a strong support zone on the Ethereum network, as highlighted by data from Sentora.
The highlighted support zone not only has significant volume but also strong market psychology, with holders likely to defend their positions due to a high concentration of ETH at a specific price range.
This support zone ranges from $2,060 to $2,420, with 80.6% of all tracked wallets currently in profit, amounting to $302.9 billion worth of ETH that is 'in the money'.
The ownership distribution in this range enhances Ethereum's on-chain stability, providing a clear reference point for traders and investors while reinforcing the idea of Ethereum's maturing price structure.