Analyzing Ethereum’s price shake-up: ETH can leap over $2,580 IF...

Ethereum has pulled back nearly 5.62% from its local high of $2,597, as weak hands cashed out. Could this “dip” be signaling a healthy retracement, or is it the start of a deeper pullback? In crypto, the “one sigma rule” holds strong: Every sharp sell-off becomes fresh ammo for dip buyers eyeing discounted supply. Ethereum [ETH] just dropped 5.62% from its local high of $2,597 on the 10th of May, tapping into short-term liquidity. Will ETH honor the sigma rule here? If so, this dip might not just be a flush, but a springboard. Short-term weakness, long-term opportunity Glassnode data shows that as ETH tapped $2,580, the supply at this price point surged from 1 million to 1.3 million ETH. In other words, about 300,000 ETH were offloaded right around that cost basis, likely triggering a wave of selling into a key liquidity zone. No surprises here. As AMBCrypto flagged , short-term holders (wallets holding ETH 1k ETH) saw a minor uptick, with six new wallets entering the fray. Clearly, smart money’s playing the long game. If macro winds stabilize and the sigma-rule holds, Ethereum could be gearing up for a clean breakout past the $2,580 resistance. Share Share Tweet