Ethereum LTH Selling In October Hits 3-Month High — What’s Next for Price?
Long-term Ethereum holders sold significantly in October, hitting a three-month high, which pressured prices near $4,000.Summary
Ethereum experienced bearish pressure in October as Long-Term Holders (LTHs) significantly increased selling, evidenced by the Age Consumed metric reaching its highest level since July. This suggests growing skepticism and profit-taking among experienced investors amid stagnant price action, contributing to Ethereum's limited price growth.
Network activity mirrored this trend, with new address creation dipping sharply in the final week of October, indicating weakening investor interest. At press time, ETH was trading around $4,002, struggling to break out of a narrow range. The immediate outlook suggests ETH might test resistance at $4,221 or support at $3,742. A sustained rally above $4,221 is needed to target higher levels like $4,500, while a break above the previous all-time high of $4,956 would restore significant optimism.
(Source：BeInCrypto)