Ethereum (ETH) continues to face resistance at the $4,000 mark after multiple failed recovery attempts. Despite broader market stability, the second-largest cryptocurrency struggles to flip this key psychological level into support.
The selling pressure from long-term holders (LTHs) remains a major obstacle, limiting Ethereum’s ability to regain upward momentum.
Ethereum Holders Are Selling
Exchange net position data reveals a notable shift in trader behavior over the past 10 days. Outflows from exchanges, typically signaling accumulation, have dropped sharply. This slowdown suggests investors are pulling back from buying, reflecting uncertainty in Ethereum’s near-term performance as the market digests recent price swings.
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As outflows decline, inflows are gaining momentum, indicating more ETH is moving onto exchanges for potential selling. This shift often precedes increased bearish pressure, as traders look to secure profits or mitigate losses.
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Ethereum’s on-chain data highlights weakening macro momentum. The Age Consumed metric—an indicator of dormant coins being moved—recorded a significant spike within the past 24 hours. This surge marks the third-largest movement in over three months, suggesting that previously inactive long-term holders are beginning to sell their assets.
Such a rise in Age Consumed typically signals a wave of profit-taking or loss prevention. As LTHs move their holdings back into circulation, it shows growing impatience with stagnant prices.
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Author: Aaryamann Shrivastava
