Ethereum top is in? ETH sell-pressure hits $419M, second-highest level ever
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Ethereum's selling pressure has surged, with a Net Taker Volume of -$418.8 million, marking the second-largest daily sell imbalance. This indicates a potential local top for Ether as traders sold 115,400 more ETH than they bought. The price is retesting a significant resistance zone near $4,000, reminiscent of the December 2024 peak, raising concerns of a possible 25%-35% decline towards key trendlines by September. Historical patterns suggest that such sell-side imbalances often precede significant price drops.
Source: Cointelegraph The copyright of this article belongs to the original author/organization.
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