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Ethereum can’t hold $3,000 long-term holders are cashing out.
ETH dropped 6% in 24 hours, testing the $3,000 barrier that’s been both psychological and technical resistance. The move comes as long-term holders the ones holding 2–3 years start trimming positions, creating uncertainty for the market.
What Happened
♻️ Long-term holders selling: Supply from the 2–3-year cohort dropped from 8.51% → 7.33%, showing LTHs are reducing risk.
♻️ Price impact: Their selling left a gap in supply that new investors need to fill.
♻️ Fresh demand: New Ethereum addresses jumped 13.4% in a week (141,650 → 160,690), the strongest spike in 2.5 months.
♻️ Price action: ETH trades ~$2,805, fluctuating between $2,814–$3,000 as it searches for direction.
✍️ Conclusion:
The market is balancing old holders exiting and new buyers entering. ETH can reclaim $3,000 if new demand keeps up; otherwise, it may stay stuck below key resistance. Watching supply gaps vs. fresh inflows will be key for the next move.