8 hours ago
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Ethereum price is gaining momentum, up over 42% in the past week to around $2,577. Even though the rally brings ETH to within touching distance of the $3,000 level, some slips are likely to arrest the surge.
Data shows long-term Ethereum holders are starting to sell. The Liveliness metric, which tracks selling activity among these investors, has jumped for the first time in three months. This means that some early buyers are now taking profits.
Such selling is often a sign of doubt about more price growth in the short term. Since these holders play a key role in price stability, their exit can add pressure to the market.
Still, Ethereum has a strong support zone between $2,345 and $2,421. Over 64 million ETH, worth around $164 billion, were bought in this price range. Most investors here are unlikely to sell at a loss, creating a solid base that could prevent sharp price drops.
ETH is also testing the $2,654 resistance level. If it breaks through and stays above $2,814, the price could move closer to $3,000. That target is now just 16% away.
However, if the broader cryptocurrency market turns bearish or selling increases, Ethereum will find it difficult. Breaking below $2,344 can trigger further losses, possibly to $2,141.
At present, ETH is holding firm, but its next direction is contingent upon how investors react to existing prices—and whether bulls will be able to outlast bears.
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