Ethereum’s price has plunged to a critical support level at $1,500, with on-chain data revealing that mega whale positions now represent the last line of defense. According to recent analysis, this dramatic 16% daily decline has pushed most investor cohorts underwater, leaving only the largest ETH holders in profit.
Breaking Down Ethereum’s Support Levels
CryptoQuant analyst MAC_D’s latest research shows that Ethereum has broken below several major investor cost basis levels, with the network-wide Realized Price of $2,250 now firmly breached. This technical breakdown suggests increased selling pressure could drive prices toward the mega whale support zone at $1,290.
In a broader market context that has seen widespread losses totaling $1 trillion amid escalating trade tensions, Ethereum’s price action reflects heightened market vulnerability.
Key On-Chain Metrics Show Critical Thresholds
The data reveals three distinct investor cohorts have been pushed underwater:
- 100-1,000 ETH holders
- 1,000-10,000 ETH holders
- 10,000-100,000 ETH holders
Only mega whales holding over 100,000 ETH remain in profit, with an average acquisition price of $1,290. This level could prove crucial for Ethereum’s next directional move, similar to its role during the 2022 bear market bottom.
Expert Analysis and Market Outlook
Historical data suggests the mega whale support level has previously acted as a strong bounce zone. However, with Ethereum’s recent struggle below key support levels, the market appears increasingly fragile.
FAQ
Q: What is the current Ethereum Realized Price?
A: The network-wide Realized Price currently sits at $2,250, though this level has been breached.
Q: Where is the next major support level?
A: The mega whale cost basis at $1,290 represents the next significant support level.
Q: What percentage of ETH holders are currently in profit?
A: Only holders with over 100,000 ETH (mega whales) remain in profit, representing a small percentage of total holders.