Critical Ethereum Investors Begin Selling As Price Struggles Under $4,000
Ethereum's price is facing resistance under $4,000 as long-term holders begin selling, indicated by a spike in Coin Days Destroyed.Summary
Ethereum (ETH) is currently trading sideways, failing to break the $4,000 resistance level. This stagnation coincides with increased selling pressure from long-term holders (LTHs), as evidenced by a significant rise in the Coin Days Destroyed (CDD) metric – the largest increase in over two months. This selling activity suggests waning confidence in Ethereum’s near-term performance and could amplify bearish momentum. Technical indicators, such as the Relative Strength Index (RSI) below 50.0, further support the idea of fading bullish sentiment. Currently, ETH is priced at $3,950, and a drop below $3,742 could lead to a further decline towards $3,489, while a breakout above $4,000 could signal renewed investor confidence and a move towards $4,221.
(Source：BeInCrypto)