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Why Ethereum (ETH) Price Is Not Rising?
- Over the past two days, gains of $230 million and losses of $141 million from selling activity show just how unpredictable the market can be.
- ETH has seen a slight increase of 0.56% as it is currently priced at $3,144.84, with a 24-hour trading volume of $36.07 billion.
- Rise in selling pressure from long-term holders has stalled any upward momentum in the ETH price.
- Another reason could be how investor behavior is shifting, as many investors are skipping ETH and jumping straight into altcoins that have been performing better recently.
- If Ethereum can regain attention, perhaps through developments in staking or other upgrades, it might regain some momentum.
- With its position above the 200-day simple moving average (SMA), Ethereum still signals bullish long-term momentum despite facing challenges.
- Ethereum recorded 16 green days in the last 30 days, reflecting a consistent, albeit moderate, upward trend.
- Recent selling pressure, driven by long-term holders cashing out, adds another layer of complexity to Ethereum’s immediate prospects.
- If the selling pressure eases and long-term holders stabilize their positions, Ethereum could regain its upward trajectory.
- Ethereum remains a long-term contender, and while its price may rise, its growth may not be as rapid or dramatic as other high-performing assets in the crypto market.
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