- Long-term holder-sentiment shifts to the optimism anxiety phase when NUPL Geel Territorium comes in while ETH consolidates.
- Strong accumulation continues with 12 million addresses with 62.27 million ETH.
Ethereum[ETH] Floating around $ 3,200, a subtle but significant shift took place under the surface. Long -term holders (LTH), often considered the ‘smart money’ of the cryptomarket, show the first signs of fear since November 2024.
This change in sentiment paints a complex picture of market psychology at a crucial price level.
Ethereum’s Lth Sentiment Analysis
Analysis of Ethereum’s Long-term holder NUPL-Grafiek shows a critical shift. The graph shows the beams that return to the optimism anxiety phase (yellow beams) after maintaining the reliability levels (green beams) since November 2024.
This transition to Geel Territorium, with lectures around 0.48, suggests that LTHS will start a period of uncertainty, possibly due to the recent price action of Ethereum near the level of $ 3,200.
Source: Glassnode
Price promotion and technical structure
Ethereum traded at $ 3,217, at the time of the press, showed signs of consolidation after recent volatility. The price structure reveals different key levels.
The formation of higher lows since December 2024 suggests reinforcement support, with the range of $ 2,800- $ 2,900 acts as a crucial buffer zone.
The 50-day advancing average (MA) at $ 3,433 has consistently offered dynamic support, while the 200-day MA at $ 2,900 strengthens the long-term bullish structure.
Source: TradingView
Resistance levels cluster around $ 3,205- $ 3,345, tailored to positions under water holder Identified via Global In/Out the Money Data.
This zone represents an important technical and psychological barrier that needs to be cleaned up for a further upward momentum.
Worldwide in/out of money analysis
Current data Shows more than 12 million addresses with more than 62.27 million Ethereum, with an average acquisition price of $ 2,425.31.
The concentration of holders who have acquired ETH between $ 2,233.15 and $ 2,612.05 remains considerable, although the shift to the anxiety phase suggests that these support zones may be confronted with more testing.
The overhead resistance above $ 3,205.97 seems to be more formidable, given the current sentiment shift.
ETH’s accumulation trends and market dynamics
Despite the sentiment shift, the accumulation/distribution indicator maintains its upward process and he reaches almost 48 m. This creates an interesting divergence: while LTHS expresses fear, underlying accumulation patterns remain robust.
The contrast could therefore suggest a period of price discovery while the market dissolves this tension.
Market implications for Ethereum
The recent transition to the optimism anxiety phase (yellow rods) in the NUPL metetric suggests a critical moment for Ethereum.
Although technical structures remain bullish and the accumulation continues, the emerging fear of LTHs can lead to increased volatility in the short term.
-Eleeum (ETH) Price forecast 2025-26
The market is confronted with an important test: whether the continuous battery trend can compensate for the potential sales pressure of anxious LTHs.
The resolution of this dynamic will probably determine the price direction, with special attention to the resistance zone of $ 3,200- $ 3,400 and support levels around the 50-day MA.
Credit : ambcrypto.com
