Ethereum Cost Basis Cluster At $2,750 Seen As Key Level For Next Price Direction

According to Glassnode analyst Chris Beamish, Ethereum is currently trading around a dense cost basis cluster near $2,750 that has repeatedly acted as support since the November bottom. The on-chain Cost Basis Distribution shows this zone has triggered multiple rebounds, while Ethereum now changes hands near $2,950, about 1.5% lower over the past week. Beamish argues that holding above this area could signal accumulation and base formation, whereas a breakdown might push the price into regions with thinner support and more at-risk supply.