Ethereum (ETH) continues to face choppy market conditions as opposing forces keep its price locked within a tight range. Despite heavy investor interest and record accumulation, the altcoin leader has struggled to sustain upward momentum in recent days.
On one side, retail and institutional investors have been aggressively accumulating ETH, driving the supply on centralized exchanges to a nine-year low. According to Glassnode data, more than 2.7 million ETH—worth over $11.3 billion—has been withdrawn from exchanges in the past month. This trend often reflects a long-term holding strategy, reducing available liquidity for trading and signaling strong conviction in Ethereum’s future.
However, the bullish narrative is countered by continued selling pressure from long-term holders (LTHs). Ethereum’s Liveliness metric, which tracks holder behavior, has been rising—indicating that seasoned investors are realizing profits instead of adding to their positions. This selling has effectively offset the accumulation wave, creating a stalemate in price action.
At present, Ethereum trades at $4,176, holding just above the critical $4,074 support level. Immediate resistance sits at $4,222, and breaking this threshold is essential for ETH to attempt a stronger recovery. Analysts suggest that ETH will likely remain consolidated between $4,000 and $4,500 as buyers and sellers battle for dominance.
The key risk remains sustained selling from long-term holders. Should ETH lose support at $4,027, the price could correct toward $3,910, invalidating the current bullish outlook. Conversely, renewed buying momentum and a decisive break above resistance could reignite upward momentum.
In the short term, Ethereum’s price trajectory hinges on which side gains control—long-term holder selling or continued accumulation. Until then, ETH remains vulnerable to sideways trading within its macro range.
Comment 0