Ethereum (ETH) has shown minimal movement over the past two weeks, contrasting with the broader crypto market's bullish momentum. This stagnation coincides with intensified selling pressure, signaling short-term sluggishness for Ethereum as the week progresses.
Ethereum Investors Secure Profits
Recent data reveals significant selling pressure on Ethereum. Over the last 48 hours, investors offloaded over 225,779 ETH tokens, equivalent to approximately $576 million. This rapid distribution highlights growing investor caution as holders lock in profits amid uncertainty about further price rallies.
- Key Insight: Large-scale sell-offs often indicate a shift toward short-term market caution.
Technical indicators further reinforce the bearish sentiment. The Moving Average Convergence Divergence (MACD) shows a bearish crossover after nearly seven weeks of bullish momentum—a pattern frequently preceding price declines or volatility spikes.
👉 Why Ethereum's MACD signals matter for traders
ETH Price Stuck in Critical Zone
Ethereum currently trades near $2,553, hovering above a crucial support level at $2,500. If selling pressure persists, ETH could drop to $2,344. Conversely, renewed buying interest may lead to consolidation between $2,500 and the $2,654 resistance level.
- Pro Tip: A breakout above $2,654 could propel ETH toward $2,814, reigniting investor optimism.
FAQ: Ethereum Price Dynamics
Q: What’s driving Ethereum’s selling pressure?
A: Profit-taking by long-term holders and bearish technical indicators like MACD crossovers.
Q: Where is ETH’s next major support?
A: $2,344 if $2,500 fails to hold.
Q: How might Ethereum recover?
A: Sustained trading above $2,654 could validate bullish momentum.
👉 Explore Ethereum trading strategies
Disclaimer:
All content is for informational purposes only. Readers assume full responsibility for their actions based on this material. Portions of this article were AI-translated from BeInCrypto's original English version.
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