Ethereum (ETH) has recently reached a three -month maximum, approaching $ 3,000. However, there are obstacles to this level.
Long -term Ethereum holders (ETH) continue to fix profit. This can become an obstacle to the level of $ 3,000 in the near future.
Investors in Ethereum are preparing for growth
The number of new addresses reached a four -month maximum, which indicates an increased interest in Ethereum. This is a positive signal about the mass acceptance of altcoin. He shows that more and more investors are interested in this token.
However, many of these new addresses can be associated with FOMO (fear of benefit), which makes them more vulnerable to volatility. Such investors maintain a price increase, but can quickly sell assets when changing the situation. This creates risks for price resistance.
Nevertheless, despite such risks, an increase in the number of new addresses shows that Ethereum continues to attract new participants. The influx of new investors can contribute to the further increase in the price of ETH.
Meanwhile, the LiveLance metric continues to grow this week. The indicator monitors the movement of previously slept tokens. An increase in this indicator suggests that more inactive coins are moved or sold. When long -term holders (LTH) leave the market, their sales can negatively affect the price of Ethereum.
LTH are considered the main support of the asset, so their decision to sell may indicate a lack of confidence in the short -term prospects of ETH. This trend can prevent Ethereum from continuing the upward trend and overcome the $ 3,000 mark. This has already happened in May. If this trend continues, the price may encounter difficulties on the way to round level.
The price of ETH needs to find the way
The price at the time of writing increased by 14.6% after a breakthrough of the upper boundary of monthly consolidation by $ 2,681. Now ETH is faced with a resistance of $ 2,814 and is located about 8% of $ 3,000, which he last reached in February of this year. If LTH stops sales, and market signals remain positive, the price of Ethereum can rush to $ 3,000.
If the current sales of LTH continue to outweigh the positive signals, ETH will probably return to support by $ 2,681. If this level does not hold, the price can fall to $ 2,476. This will cancel the bull script, and Ethereum can start a new phase of consolidation.
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Source: Cryptocurrency
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