🔷Ethereum is hovering around $1,580, struggling to break through the resistance at $1,700. In recent days, large holders have sold off 1.19 million ETH — worth over $1.8 billion. Such moves indicate a decline in short-term confidence and a desire to lock in gains amid weak momentum.
🔷The MVRV Long/Short Difference has dropped to -29%, signaling that long-term investors are currently at a loss. If the price fails to hold the support level at $1,533, a drop to $1,429 is possible. A close above $1,625 would open the way to $1,700 and potentially signal a market trend reversal.