CandleFocus Ethereum’s Journey to $3,000 Hits MTH Selling Wall, Now Easing
2024-10-25
Author: Content Editor
The price of Ethereum faced resistance at $2,700 but has shown signs of easing selling pressure, indicating potential for renewed buying momentum. ETH's exchange net position change is trending downwards, signaling reduced selling pressure and the possibility of a bullish shift if buying outpaces selling. Mid-term holders have been active, moving a significant amount of ETH, suggesting market uncertainty. However, lower activity from other investor cohorts provides stability. Reclaiming support at $2,546 is crucial for Ethereum's run toward resistance at $2,698. Overall, indicators point to a positive outlook, but a break below the uptrend line could challenge the bullish trajectory.
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