Ethereum has struggled to register meaningful upward movement in recent days despite strong investor activity.
The altcoin king’s price is being pulled by two opposing forces: heavy accumulation from retail and institutional players, and continued selling pressure from long-term holders. This clash has kept ETH rangebound.
Ethereum Exchange Supply Falls
Ethereum’s supply on exchanges has steadily declined for months, now sitting at a nine-year low. This signals investors are withdrawing tokens from centralized platforms, a move often linked to long-term accumulation strategies rather than short-term speculation.
SponsoredIn just the past month, more than 2.7 million ETH, valued at over $11.3 billion, has been accumulated by investors. This buying spree highlights strong conviction in Ethereum’s long-term potential, even as the short-term price action remains uncertain.
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Despite this bullish accumulation, Ethereum’s Liveliness metric has been trending upward. Liveliness measures the behavior of long-term holders (LTHs), and an increase typically suggests these investors are selling rather than accumulating.
This selling from LTHs counters the bullish pressure from fresh inflows. As a result, Ethereum is caught between two opposing market forces. The standoff is limiting strong price swings, leaving ETH vulnerable to sideways trading until one side gains dominance.
ETH Price Is Vulnerable To Correction
Ethereum’s price is currently at $4,176, holding just above the critical $4,074 support zone. The immediate resistance lies at $4,222, which ETH must break to attempt further recovery.
Given the conflicting signals, ETH is likely to remain consolidated within a macro range between $4,000 and $4,500. This has been the case for several weeks as bullish and bearish pressures balance out.
However, if long-term holder selling continues to weigh heavily, Ethereum’s price could fall further. A breakdown below $4,027 support would leave ETH vulnerable to a decline toward $3,910, invalidating the bullish thesis.
