According to glassnode, Ethereum (ETH) has broken out of a month-long trading range, with cost basis distribution data showing 1.3 million ETH accumulated between $2,700 and $2,740, and another 800,000 ETH at $2,760. These accumulation levels, established during the recent consolidation, are likely to serve as strong support zones for traders. This breakout and the defined support could signal increased bullish momentum and offer strategic entry points for crypto traders seeking to capitalize on ETH’s price movement (source: glassnode, June 11, 2025).