Ethereum Price Short-Term Outlook After $570 Million Selling

Ethereum (ETH) has shown few price movements in the past two weeks despite the wider market of the cryptocurrency displaying a bullish momentum.

This stagnation of the ETH price occurs at a time when the sales activity has intensified. These factors suggest a short -term prudent perspective for Ethereum as the week continues.

Ethereum investors guarantee their profits

Recent data indicates significant sales pressure on Ethereum. In the last 48 hours, investors have sold more than 225,779 ETH tokens. This volume results in an offer worth around 576 million dollars, reflecting a rapid rhythm of unloading.

Such in -depth sale indicates a reduction in the confidence of investors. Many seem to obtain profits in doubts about the appreciation of additional prices. This behavior often signals a change towards short -term risk aversion.

The technical indicators are added to the lowering feeling surrounding Ethereum. The divergence of mobile average convergence (MacD) shows a lower crossover after almost seven weeks of bullish momentum. This change often precedes a drop in prices or increased volatility.

The loss of the Haussier momentum weakens the support of the prices of Ethereum. Without a new purchase interest, the ETH can cope with a more drop pressure while traders adjust the positions in response to technical signals.

The ETH price is blocked

Ethereum is currently negotiating nearly $ 2,553, now a critical level of support of around $ 2,500. King Altcoin hovered over this threshold for a while, but his ability to maintain this level is tested.

If the lowering pressures continue, Ethereum could break below $ 2,500 and refer to the next support at $ 2,344. However, if the purchase of interest returns, the ETH can consolidate between $ 2,500 and the resistance level of $ 2,654 for a period.

In order for short -term lowering prospects to change, Ethereum must violate the resistance almost $ 2,654. A decision supported beyond this point could increase the price to $ 2,814, reviving the optimism of investors and supporting other gains.