Glassnode: Ethereum has a small supply gap in the $1900- $2200 range. A short-term recovery to the $2200 resistance level is reasonable.

BlockBeats News, March 12, Glassnode published data on social media stating that ETH's Cost Basis Distribution shows a potential short-term support level. Although ETH's price briefly fell below the key accumulation area of $1880, addresses at that level hardly reacted to the recent drop, and a new accumulation range appeared at $1900 (600,000 to 700,000 ETH).

This indicates that if ETH consolidates at the current level, $1900 could become a support level. The next potential resistance level is at $2200 (accumulating 465,000 ETH). The supply gap between $1900 and $2200 remains relatively small, making it reasonable for the ETH price to rise to the resistance level in the short term.