Ethereum Forms Major Support at $3,150 as Accumulation Grows Strong

Cover image via U.Today Read U.TODAY on Google News Despite the slow down in the recent price rally, Ethereum is still showing signs of strength as traders continue to show resilience amid mixed price action. Advertisement On Wednesday, Dec. 11, popular crypto analyst Ali Martinez showcased data revealing that Ethereum has formed two major support walls below current price levels. ETH holders scoop heavily around $2,800 and $3,150 Martinez made the analysis as he shared Glassnode’s latest cost-basis distribution heatmap, which shows that a large number of Ethereum holders have accumulated ETH heavily around $3,150 and $2,800. HOT Stories 4 Reasons Why XRP Matters Named by 21Shares as New XRP ETF Wins SEC Approval Morning Crypto Report: XRP Loses 89% in Fee Revenue, Satoshi Nakamoto Appears at New York Stock Exchange, Bitcoin Rockets 3,065% in Liquidation Imbalance Strategy Might Sell Bitcoin, CEO Says Crypto Market Prediction: Ethereum (ETH), King of Altcoins, Is Back; Is XRP Ready for Price Jump? Shiba Inu (SHIB) Fails First Resistance Test Notably, the data shows that about 2.8 million ETH were accumulated at the $3,150 level and even more accumulated at $2,800. Advertisement While the levels represent high concentrations of investor cost basis, they have created strong demand zones that could help stabilize the price of Ethereum against further volatility. With large amounts of Ethereum being scooped by traders at $3,150, it means that a large portion of the market is now positioned around support levels. Hence, there is a slim chance that ETH could slide below that price level as buyers would want to step in to defend it. You Might Also Like Thu, 12/11/2025 - 14:00 Ethereum's (ETH) 19% Mini-Rally Faked Out: What's Next for Price? By Arman Shirinyan Advertisement On the other hand, Ethereum has formed an even larger support wall at $2,800, where more than 3.6 million ETH were accumulated, marking one of Ethereum’s strongest demand zones of the year. This means that if the crypto market experiences a deeper correction in the future, buyers may defend $2,800 to curtail losses for the asset. Although Ethereum has slowed down on its latest rally, it is still maintaining a close above the crucial $3,150 support level, and the asset’s resilience above the major support walls suggests it might resume its uptrend, fueling hopes for the highly anticipated $5,000 target. As part of Ethereum’s future outlook, large investors like BitMine have continued to scoop the asset in large quantities, with no plans to slow down. #Ethereum #Ethereum Price Prediction #Bitmine