- The network volume of Ethereum remained deep in the red, and signaled the long -term sales pressure in recent months.
- Despite the sales pressure, the total number of ETH holders continued to increase, which suggests a strong accumulation.
Ethereum [ETH] has witnessed a long -term period of active sales pressure, with the net tone volume that indicates a long -term negative momentum in recent months.
This trend suggests aggressive dominance on the sales side, usually associated with the decreasing market confidence or a broader risk-off sentiment.
Nevertheless, the number of ETH holders continues to climb, as a result of which questions are asked whether investors accumulate in the long term in the midst of the sale or whether a price reward is on the horizon.
Ethereum’s persistent sales pressure
Data of Cryptoquant emphasized an extensive phase of aggressive sales, with the net tone volume that shows deep red values.
This means that sales orders have dominated buying orders, which a bearish handle reflects the market structure of Ethereum.
Historically, such a long -term negative toning volume precedes large corrections or capitulation events, which could lead to further down if the trend persists.
Looking at earlier cycles, ETH has experienced comparable phases of intense sales pressure, followed by a reversal when buying impulse again.
However, the current trend seems more extensive, which suggests that the sentiment of investors remains careful despite broader crypto market developments.
ETH holders continue to grow
While the price of Ethereum is struggling, the number of holders has increased steadily.
Data on Santiment chains showed that the total ETH holders had reached around 141.31 million, so that consistent growth was marked despite the price in the price.
This suggests that although traders have left their positions in the short term, long -term investors continue to see value when collecting ETH at the current level.
Source: Santiment
A possible explanation for this divergence is that institutional and whale investors gradually acquire Ethereum, while retail traders capitulate.
This accumulation pattern could determine the stage for a potentially recovery if the sales pressure collection and broader market conditions improve.
Price forecast: will ETH find support?
Ethereum traded at $ 1,876 at the time of the press, after he had had a steady decrease in recent weeks. The most important support levels to watch were $ 1,850, which traditionally served as a crucial demand zone.
Source: TradingView
If sales pressure is increasing, Ethereum could test the $ 1,750 region, a level that previously acted as a strong accumulation zone.
Conversely, if ETH succeeds in stabilizing and reclaiming the $ 2,000, this could cause a shift in sentiment.
The Aroon indicator, which measures the trend strength, currently indicates weakness, which suggests that ETH is still in a downward trend.
An outbreak above the 50-day advancing average [2,365] Would indicate that renewed bullish momentum.
Conclusion
The Ethereum market remains under sales pressure, as evidenced by persistent negative net tone volume.
However, the steady increase in ETH holders indicates that some investors regard the current price range as an accumulation option.
While the downward risks persist, a shift in sentiment or the relief of sales pressure ETH can position for a recovery.
Traders must keep a close eye on important support and resistance levels, because the next step from Ethereum will probably determine a wider market sentiment.
