The price of Ethereum is attempting once again to break through the resistance at USD 3,000, but the rate of effort remains stalled. After a temporary rise, ETH has slid back to this support range, indicating that the market remains divided.
Although positive momentum is gradually returning, investors' impatience may slow the recovery. Without a clear direction emerging in the near term.
Ethereum investors may sell their ETH.
The change between MVRV Long/Short is approaching the midline, indicating the possibility of a shift in profitability between long-term and short-term holders. This metric examines whether long-term or short-term holders are realizing more profits. For Ethereum, falling below the midline would mean short-term holders have the largest share of unrealized profits.
This change is significant because short-term holders often sell quickly at the first signs of weakness. If they start taking profits near 3,000 USD, ETH may face renewed selling pressure. This behavior has previously caused recovery attempts to falter, making market sentiment fragile despite broader positive signals.
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The squeeze momentum indicator adds another layer of complexity. ETH is experiencing a squeeze formation, which occurs when volatility narrows and momentum strength is compressed.
This often leads to movements with clear direction. The histogram indicates that positive momentum is strengthening, suggesting that if the squeeze is released, the speed of price movement may follow.
If the positive trend continues to grow during this period, ETH may benefit from an expansion of volatility in an upward direction, setting the stage for movements in previous cycles. However, confirmation will depend on market participation and whether buyers respond at 3,000 USD.
Ethereum is currently trading at 3,045 USD and remains above the support level of 3,000 USD over the past few days. ETH is gradually moving close to this zone, indicating uncertainty among traders as market signals are changing.
This mixed signal suggests that ETH may continue to move sideways near 3,000 USD in the short term. A decline caused by profit-taking from STH or broader market skepticism could pressure Ethereum down to 2,762 USD before stabilizing.
However, if the market momentum turns bullish with favorable macroeconomic conditions, ETH could rise above 3,131 USD and target 3,287 USD. A complete breakout of these levels would overturn the bearish market outlook and set the stage for a broader recovery phase.
