The post Ethereum Price Could Face Further Decline Towards $2.1K Amid Seller Pressure and Market Volatility appeared on BitcoinEthereumNews.com.

Ethereum is facing potential price pressures as market metrics indicate a possible drop towards the $2.1k mark amidst recent sell-offs. Despite a brief period of consolidation around $2.6k in February, on-chain analytics suggest that the selling pressure remains significant. According to insights from crypto analyst RektProof, the current trading range mirrors historical patterns where accumulation occurred prior to notable price rallies. Ethereum’s price under scrutiny as metrics suggest a possible decline to $2.1k, raising concerns among investors about ongoing market pressures. Ethereum’s Price Challenges: Metrics Indicate Room for Lower Prices The recent fluctuations in Ethereum’s price have raised eyebrows among investors and analysts alike. As of late February, Ethereum has seen a 2.64% decline in its value, currently trading under pressure as market conditions shift. Notably, the implications of market events such as the Bybit hack, which siphoned off $1.46 billion worth of Ethereum [ETH], have heightened concerns over liquidity and seller exhaustion. Analyzing Seller Exhaustion: Key Metrics to Understand the Current Trend Source: Glassnode The seller exhaustion metric indicates the percentage of supply held in profit alongside 30-day price volatility. Recently, Ethereum has experienced high volatility, coinciding with a decline in profit among holders. This suggests a prevailing risk as the exhaustion metric rises, indicating low-risk price bottoms are not currently evident. The lack of profit among holders during these turbulent times suggests that further declines may still be on the horizon for ETH. Supply in Profit: A Deep Dive into Current Trends Source: Glassnode The percentage supply in profit has significantly decreased since Ethereum encountered resistance near the $4k mark last December. Presently, the metric sits lower than any point recorded since October 2023. This decline is particularly frustrating for holders, especially as Bitcoin’s price nears $100k, highlighting Ethereum’s relative underperformance in the market. Understanding NUPL and Its…

---

Filed under: News - @ February 23, 2025 2:15 am