Ethereum’s price is attempting a recovery but remains unable to break past the $4,500 barrier. Despite holding above key support levels, ETH continues to struggle with this resistance.
Until broader market conditions shift decisively, this ceiling could block the altcoin king’s run to new highs.
Ethereum Investors Are Selling
Ethereum’s supply in profit is nearing the critical 95% threshold, a level historically associated with market tops. When supply in profit crosses this line, many investors tend to book profits, triggering sharp corrections. This behavior reflects growing caution as ETH hovers near resistance.
The $4,500 mark has been a major obstacle for Ethereum over the past two weeks. Each attempt to break through has failed, reinforcing investor skepticism. If profit-taking accelerates at these levels, ETH could face increased selling pressure, preventing further upside momentum in the near term.
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Ethereum Supply In Profit. Source: Glassnode
The Liveliness indicator is also signaling caution. An uptick in this metric suggests long-term holders are selling their ETH rather than accumulating. This shift typically emerges when holders fear potential losses or expect limited upside. Their actions add pressure on the market’s stability.
Sideways price movement has accompanied this rise in Liveliness, reflecting uncertainty in macro momentum. While broader conditions remain supportive for crypto, Ethereum-specific selling trends could outweigh positive sentiment. If this persists, ETH may struggle to maintain upward traction, risking additional resistance at higher levels.
Ethereum Liveliness. Source: Glassnode
ETH Price Awaits Breakout
Ethereum’s price is currently $4,433, trading above the $4,331 support. However, the persistent $4,500 resistance remains a formidable challenge. Flipping this barrier into support will be key for Ethereum to establish bullish momentum.
Given current conditions, ETH is likely to remain rangebound between $4,222 and $4,500. Consolidation within this zone reflects investor hesitation amid elevated profit-taking and long-term holder exits.
ETH Price Analysis. Source: TradingView
Still, if broader market sentiment improves and inflows strengthen, Ethereum could finally breach $4,500. Securing this level as support would signal reversal strength and set the stage for a move toward $4,749, invalidating the current bearish thesis.
The post Ethereum Price’s Run To New High Could Be Blocked By Market Top appeared first on BeInCrypto.
