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Ethereum Price Forecast: US risk-off sentiment continues as onchain cost basis overhead weighs on ETH

From fxstreet.com

Ethereum (ETH) is up 1% on Monday, holding around the same prices as last week, as key fundamental metrics signal persistent risk-off sentiment. Retail investors or wallets with a balance of 100-1K ETH depleted their holdings by 110K ETH last week, continuing their strong distribution pattern that dates back to November. However, wallets with balances of 1K-10K and 10K-100K ETH (whales) saw minimal changes in their holdings, unlike last week, when they distributed, signaling that these investors may be nearing exhaustion from selling. The price decline from previous weeks shows bulls being outweighed by supply ... (full story)

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  • Category: Technical Analysis