Ethereum Price Drop To $2,000 Next As Crossing This Threshold Repeats History
Ethereum's recent surge may reverse due to selling pressure from short-term holders, potentially pushing the price back toward $2,000.Summary
Ethereum is currently pressing below the $2,348 resistance level, but short-term excitement is tempered by historical patterns suggesting unsustainable momentum. Data from ETH HODL Caves shows that holders under one month have the lowest profit multiple (around 3x), creating psychological pressure for them to sell. This selling is already evident as the one-month to one-month wallet cohort's share of total ETH supply dropped from 6.9% to 5.3%, indicating tokens were sold rather than held. Due to this bearish behavior and the Money Flow Index (MFI) being in the overbought zone (above 80.0), the price is likely to slide back toward $2,158, with a significant risk of dropping below $2,000 to retest the $1,917 support. The bearish outlook would only be invalidated if ETH manages to flip the $2,348 resistance into support, potentially opening a path toward $2,500.
(Source：BeInCrypto)