According to @glassnode, Ethereum (ETH) cost basis bands above spot are distributed evenly between $2,760 and $3,420, with each $50 increment containing 200,000 to 400,000 ETH. The analysis shows no dominant resistance until the $3,417 level, where 607,950 ETH are concentrated, suggesting that traders may encounter significant sell pressure at this price point. This structure signals a relatively clear path for ETH/USD up to this resistance, which could influence short-term price action and trading strategies. Source: @glassnode.