ETH Long-Term Holders Show Confidence as Short-Term Traders Cash Out
Ethereum's current price is stable around $4,280, creating a divide between long-term holders and short-term traders. Key points include:
- Short-term holders are realizing profits at an average rate of $553 million daily, close to July’s peak of $771 million.
- Long-term holders exhibit confidence, with profit-taking levels similar to December 2024.
- The Net Unrealized Profit/Loss (NUPL) metric shows long-term holders shifting from "capitulation" to "belief" since April.
- Current ETH price is 12.28% below its all-time high of $4,828 from November 2021.
- Analysts identify resistance levels at $5,210 and $6,946.
- A potential rise to $4,700 could trigger $2.23 billion in leveraged position liquidations.
- ETH has increased over 68% in the past year, indicating strong performance.
- Immediate support is at $3,823; a break above $4,336 may lead to higher targets.
- The Relative Strength Index (RSI) indicates overbought conditions, suggesting possible short-term pullbacks.
The market remains significantly lower than its profit-taking peak in July, highlighting ongoing volatility.