Ethereum Metrics Reveal Critical Support Level – Can Buyers Step In?

Ethereum's price is above $1600 after recent market volatility and uncertainty caused by global trade policies. The cryptocurrency market is attempting to stabilize following weeks of selling pressure. Bulls are trying to regain control, but the downtrend may not be over. Reclaiming key levels is crucial for a sustained recovery. Glassnode data shows significant support at $1546.55, where whales accumulated substantial ETH. This level could trigger a price bounce due to historical buying interest in accumulation zones. Ethereum's price surged over 20% from a recent low, fueled by speculation of a policy shift. However, concerns remain about long-term US foreign policy and trade tensions. A crucial resistance level sits at $1875; breaking above it would confirm a bullish reversal.