Ethereum (ETH) price is at a key juncture, stuck between strong resistance at $2,500 and support at $2,000. Market metrics like Net Unrealized Profit/Loss (NUPL) and whale activity indicate cautious investor sentiment.
NUPL shows many ETH holders still in profit, but caution prevails as swings in the market are observed. A higher NUPL is optimistic, while lower values indicate potential selling pressure.
The ETH whale count has slightly decreased, indicating a cautious outlook rather than an impending sell-off. Whale behavior is vital as they can significantly affect price movements through accumulation or reduction in holdings.
The Global In/Out of the Money metric reveals Ethereum's current sideways trend, highlighting resistance and support near its current price. The outcome depends on ETH’s ability to clear key price levels. A breach above $2,500 may spark a rally, while dropping below $2,000 might lead to a correction.
