Ethereum Approaches $3K as On-Chain Data Shows Mixed Holder Positions Near Key Resistance

• ETH faces key resistance between $3,008–$3,120 due to high concentration of underwater holders.
• Nearly equal profit/loss zones create neutral pressure near $2,916, stalling market direction.
• Break above $3,100 could trigger rally, but break-even selling may limit short-term upside.

Ethereum (ETH) is edging closer to the $3,000 mark for the first time since February, with the current price holding near $2,916. On-chain data from Sentora, formerly known as IntoTheBlock, shows the market is at a key inflection point. A near-equal number of addresses are either in profit or at a loss, creating a neutral pressure zone that could determine Ethereum’s short-term direction.

The “In/Out of the Money Around Price” chart segments ETH holders based on the average price at which they acquired their tokens. Each segment is represented as a cluster, showing the number of addresses with current gains or losses.

Below the $2,916 mark, clusters of addresses bought ETH between $2,553 and $2,915. These are identified as “in the money” holders and are currently in profit. The largest concentration of profitable addresses is observed between $2,614 and $2,726, reflecting large buying activity in that range. These holders may contribute to continued holding pressure or take limited profits as the price rises.

However, above the current price, a large segment of addresses remains “out of the money.” Red clusters dominate the range between $2,917 and $3,545, representing holders with unrealized losses. The highest concentration lies between $3,008 and $3,120. This area presents a potential short-term resistance level as holders may be inclined to sell when ETH reclaims their average entry prices.

$3,100 Resistance May Trigger Break-Even Selling

Sentora data shows minimal resistance until ETH reaches the $3,100 zone. Yet, this level could introduce selling pressure from approximately 4.1 million addresses that have been holding ETH at a loss for roughly six months. A recovery to their original purchase price may lead many to exit positions, adding resistance and stalling upward momentum.

Such break-even selling is a common phenomenon and can temporarily cap bullish trends when heavily concentrated in narrow price zones. The presence of this resistance band could create volatility as Ethereum tests this threshold.

E thereum’s Short-Term Outlook Hinges on Price Movement Above Resistance

Ethereum’s market setup now hinges on whether it can successfully move beyond the $3,008 to $3,120 range. A decisive break above this level could weaken selling pressure and support a continued rally. On the other hand, a failure to clear the zone may strengthen bearish sentiment and reinforce resistance.

With ETH trading near a key decision point, the actions of holders around these price bands may shape the market’s next significant move. All eyes remain on the $3,000 level and the heavy resistance zone just above it.