Ethereum Retraces: Here’s Why ETH Bulls Must Decisively Break Above $3,500
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Ethereum has climbed from around $2,800 earlier this month to over $3,500 but faces resistance at this level. On-chain data indicates that 3.13 million unique addresses bought ETH at an average price of $3,547, potentially willing to sell at a loss, creating a fragile market environment. For a bullish continuation, prices must surpass $3,500 and $3,700. Additionally, $126 million worth of ETH was moved from exchanges, and there's optimistic anticipation for the approval of spot Ethereum ETFs by the United States SEC, which could positively affect ETH prices and regulatory clarity.
Source: www.newsbtc.com ↗
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