After experiencing a pronounced upward trend, surpassing major digital assets in the crypto market, Ethereum It appears to have hit an obstacle, leading to a sudden pullback. ETH prices are facing bearish pressure and may be pulling back to key support levels, but many investors are still bullish about the key Altcoin and its short-term trajectory.
When Ethereum calms down, investor immersion purchases dominates
Ethereum witnessed yet another Bearish On a day, its prices continue to fall below the $4,500 price level. In the midst of this waning price action, GlassNode, the leading financial and chain data analytics platform, has Spots Prolonged positive sentiment among major ETH investors.
The popular on-chain platform has identified actions from investors after considering the Ethereum cost base Heatmap Metrics. Now, the key metric is that even if Altcoin pulls back from the $4,700 price level, it still sends a signal of clear belief among holders.
Such developments suggest that market participants demonstrate significant participation across institutions and retail channels by treating drops as strategic entry points rather than withdrawing them. It will also be highlighted The increasing appeal of ETH Just as investors show their faith in their long-term course despite recent turmoil.
As the major Altcoin lost the $4,700 mark, GlassNode is Notable accumulation Approximately $4,400 was observed to help stabilize the downward movement. In other words, this cluster of clusters of purchasing activities served as important support for bear pressure from sellers.
A significant accumulation was observed at around $4,400, but the platform noted that some of the supply was quickly redistributed high. According to the on-chain platform, the action illustrates a clear swing trade dynamic across both retail and institutional channels.
ETH surge stopped at key active realisation price
In another one post On the X platform, GlassNode uses ETH realized price and reberiness ratio (RPLR) to provide insights into Ethereum’s recent performance. Specifically, this key metric measures the fair value (realized price) of ETH, based on long-term investors’ spending and hoarding patterns (vibrantness).
GlassNode data shows that Ethereum rise Again, +1σActionAction Realized price stopped at $4,700. It is worth noting that the previous prices of ETH that visited this level were during a wider bullish market wave this March.
According to the on-chain platform, this level is an important area Overheating conditions And it has been selling sales pressure because it has frequently acted as a resistance in previous cycles.
At the time of writing, Ethereum is trading at $4,238, indicating a decline of more than 1% over the last 24 hours. CoinMarketCap data shows that its trading volume is negative, down 7% over the past day. The decline in trading volume shows that investors are suppressing their sentiment to Altcoin.
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