"Ethereum Forms Resistance Near $3,100…Around 4.1 Million Wallets Reach Break-even"
Minseung Kang
Summary
- There is analysis that short-term selling pressure for Ethereum (ETH) could increase near $3,100.
- Sentora stated that around 4.1 million wallets are reaching break-even near $3,100.
- It was reported that if profit-taking occurs, short-term selling pressure could increase further.
Ethereum (ETH) is seeing analysis suggesting that short-term selling pressure could rise near $3,100.
On the 11th (local time), blockchain analytics platform Sentora (formerly IntoTheBlock) announced on X (formerly Twitter), "Ethereum is currently attempting to re-enter the $3,000 range, which is the first time the asset has reached this level since February, about five months ago."
They continued, "Wallets holding around 4.1 million ETH have been at a loss for about six months, and will reach their break-even region near $3,100," and added, "If these holdings are sold to take profits, short-term selling pressure could intensify."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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