Ethereum Sell Signal vs $2.8 Billion Demand Zone: What’s Next For Price?
Ethereum shows a bearish sell signal via DAA divergence while facing a critical $1,880 demand zone.Summary
Ethereum's price recovery is struggling amid market uncertainty, currently facing pressure from selling activity and a crucial $1,880 demand zone, which represents $2.81 billion held by investors.
The Price DAA Divergence metric has flashed a sell signal for the first time in two months, indicating falling daily active addresses alongside the price, signaling weakening bullish momentum and rising selling pressure. Conversely, the MVRV pricing bands suggest ETH is nearing an undervalued state, historically preceding a rebound if investors hold.
Immediate price action is constrained by a downtrend line resistance near the current trading price of $1,998. A drop below the $1,902 support could lead to the $1,880 demand zone; a sustained break below this zone could trigger a sharper decline, while overcoming resistance could target $2,165.
(Source：BeInCrypto)