Ethereum price is attempting again to break free from the longstanding $ 3000 barrier, but the attempt has stalled. After briefly moving higher, ETH slipped back towards this support level, signaling that the market is still divided.
Even though the bullish momentum is slowly returning, investors' impatience may weigh on the rise if a clear direction does not soon emerge.
Ethereum investors may sell their ETH
MVRV Long/Short Difference is approaching the neutral line, signaling a potential shift in the dominance of profit between long-term and short-term traders. This metric tracks whether long-term traders (LTHs) or short-term traders (STHs) are achieving more gains. For Ethereum, a fall below the neutral line would mean that STHs have the majority of unrealized gains.
This shift is important because STHs have historically sold quickly at the first sign of weakness. If they start taking profits near $ 3000, ETH could face renewed selling pressure. This behavior has often halted previous attempts at upward movement, making sentiment fragile despite broader bullish signals.
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The squeeze momentum indicator adds another layer of complexity. ETH is currently experiencing a squeeze buildup, which occurs when volatility tightens and momentum compresses.
This usually tends to precede a strong directional movement. The histogram indicates that bullish momentum is strengthening, suggesting that when the squeeze is released, price acceleration may follow.
If bullish momentum continues to grow during this period, ETH may benefit from an upward volatility expansion. This setup has preceded rallies in previous cycles, although confirmation depends on market participation and whether buyers enter at $ 3000.
Ethereum is now trading at $ 3045 and remains above the critical $ 3000 support level. Over the past few days, ETH has hovered closely around this zone, signaling uncertainty among traders as market signals change.
The mixed signals suggest that ETH may continue to move sideways near $ 3000 in the short term. A decline triggered by STH profit-taking or broader market skepticism could push Ethereum towards $ 2762 before it stabilizes.
But if bullish momentum strengthens along with favorable macro conditions, ETH could climb past $ 3131 and aim for $ 3287. A clear break above these levels would invalidate the bearish outlook and facilitate a broader upward phase.
