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The price of Ethereum is once again trying to break free from the long barrier of $ 3,000, but the effort failed. After briefly moving higher, ETH has broken down towards this support range, indicating that the market remains divided.
While bullish momentum is slowly returning, investor impatience could weigh on the recovery if a clear trend does not emerge soon.
The MVRV Long/Short Difference is approaching the neutral line, indicating a possible change in earnings control between long and short holders. This indicator measures whether long-term holders (LTH) or short-term holders (STH) make more profits. For Ethereum, a drop below the neutral line means that STHs own most of the unrealized profits.
This change is important because historically STHs sell off quickly at the first sign of weakness. If they start making profits close to $3,000, It could face ETH Renewed sales pressure. Such behaviors have often overwhelmed previous recovery attempts, making sentiment fragile despite broader bullish signals.
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The Compressive Momentum indicator adds another layer of complexity. ETH is currently going through a squeeze accumulation phase, which occurs when the swing range narrows and momentum compresses.
This is usually preceded by a strong directional movement. The chart shows that the bullish momentum is strengthening, suggesting that once the pressure is released, an acceleration in price may follow.
If the bullish momentum continues to grow during this period, ETH can be beneficial The fluctuation expands upwards. This formation preceded demonstrations in previous sessions, although confirmation depends on market participation and whether buyers will enter at $3,000.
The price of ETH may end up falling again
Ethereum is trading at $3,045 and remains above the critical support level of $3,000. In recent days, ETH has been hovering near this zone, indicating hesitancy among traders as market signals change.
Mixed signals indicate that ETH can continue It is moving sideways near $3,000 in the short term. Triggering a breakout resulting from profit-taking by short-term traders or larger market uncertainties could push Ethereum towards $2,762 before stabilizing.
However, if the bullish momentum strengthens with favorable macro conditions, ETH can grow For over $3,131 and target $3,287. A clear break above these levels will nullify the bearish outlook and pave the way for a broader recovery phase.
