Ethereum
ETH
$1996.16
is trading at $2,004.77, below SMA-20 ($2,114.07), SMA-50 ($2,044.43) and significantly below SMA-200 ($3,104.64), indicating sustained selling pressure across all major timeframes. Ichimoku Kijun is at $2,151.08 and acts as the nearest resistance above current levels.
Early Ethereum investors sold over $23 million in ETH from the initial tranche of the 2014 ICO, confirming significant profit-taking.
Ethereum supply on exchanges continues to decrease amid protocol updates and new ETF staking options, indicating increased institutional participation.
ETH remains under broad selling pressure, trading below key averages with a projected range over the next five days from $1,900 to $2,100 and a low likelihood of recovery.$ETH
ETH
1,994.54
-0.87%