Ethereum's price has experienced a decline due to market bearish conditions, falling below $2,500. However, investors have remained confident and have been accumulating Ethereum at lower price levels. The Cost Basis Distribution data shows that investors have consistently accumulated Ethereum even as the price dropped, with significant support at $2,632 and resistance at $3,149. Ethereum's macro momentum remains solid, with a notable shift of ETH flowing out of exchanges, indicating strong investor confidence in its recovery. The current price sits at $2,486, but there is potential for recovery if Ethereum flips the $2,654 level into support and aims for the $3,000 mark. However, if it fails to reclaim $2,654, the price could dip further to $2,344.



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