Key Support Levels Identified by On-Chain Data
Ethereum (ETH) traders are closely watching two critical support levels as the second-largest cryptocurrency consolidates around $3,200 on December 11, 2025. Prominent analyst Ali Charts (@alicharts) recently shared a Glassnode cost basis distribution heatmap, revealing massive accumulation clusters that could act as formidable barriers against further downside. The chart points to two major support walls for ETH. The first, around $3,150, saw approximately 2.8 million tokens accumulated by investors. This zone represents a significant psychological and on-chain threshold where buyers have historically stepped in aggressively. Below that lies an even denser cluster at $2,800, with about 3.6 million ETH bought—making it one of the strongest demand areas of the year.
These accumulation zones emerge from Glassnode’s cost basis distribution metric, which tracks the average price at which addresses acquired their ETH. Dense clusters often translate to strong support, as holders are less likely to sell at a loss, creating “walls” that absorb selling pressure. As ETH hovers near these levels amid broader market volatility, the data suggests potential for a rebound if buyers defend them. Current market context adds to the intrigue.
Analyst's Tweet on Ethereum Support
Current Market Dynamics and Network Health
Ethereum has faced downward pressure recently, influenced by macro factors like Fed rate decisions and ETF flows. Yet, on-chain indicators show resilience: exchange reserves remain low, whale accumulation persists, and Layer-2 scaling continues to drive adoption. The recent Fusaka upgrade has further bolstered network efficiency, setting the stage for higher throughput.
Potential Price Action and Investor Outlook
For bulls, holding above $3,150 could invalidate bearish scenarios and target resistance near $3,500–$3,900. A breach lower might test the $2,800 fortress, but its sheer volume of accumulated tokens could spark a sharp reversal—similar to past cycles where cost basis clusters marked cycle bottoms. In a 24/7 market prone to rapid swings, these on-chain insights from Ali Charts remind traders that fundamentals often underpin price action. Patience around these supports may reward those positioning for the next leg up in Ethereum’s ongoing evolution. As always, combine with technicals and risk management.

