Ethereum Price Analysis: Key Resistance at $3,877-$3,987 and Support at $3,434 Based on Glassnode Data

According to Mars Finance News and analyst @ali_charts, who referenced Glassnode data, Ethereum (ETH) is currently facing a critical resistance range between $3,877 and $3,987. This zone represents a significant barrier for upward price momentum based on the latest chip distribution metrics. Meanwhile, the primary support level is identified at $3,434, serving as a crucial floor that could stabilize ETH prices amid market fluctuations. These levels are essential for traders and investors to monitor, as they provide insight into potential price consolidation and breakout points within the Ethereum market. Utilizing on-chain analytics like chip distribution offers a more nuanced understanding of ETH’s price dynamics, enhancing strategic decision-making in volatile crypto markets.