Why Ethereum (ETH) Must Not Fall Below $3,000 Again

　　Mga Aktibong Deposito ng Ethereum. Pinagmulan: Santiment

　　Furthermore, the HODLing of ETH has also grown, with the supply moving from short-term to mid-term holders. HODL waves show that wallets holding ETH for one month to a year have noted a 2.3% increase in their supply over the past month.

　　Moreover, addresses holding ETH for a period of one week to a month have witnessed outflows amounting to 2.2% of the circulating ETH supply. This is evidence that the ETH has moved from potential sellers to HODLers, who tend to avoid immediate dumping.

　　This decline in short-term holders‘ dominance proves that investors’ conviction is noting a considerable increase.

　　Ethereum HDOL Waves. Source: GlassnodeETH Price Prediction: $3,000 Holds

　　Ethereums price is hovering above the key support level of $3,000, coinciding with the 23.6% Fibonacci Retracement. The 23.6% Fib level is known to be the critical support level, and losing it diminishes the potential for recovery. Thus, keeping above $3,000 is crucial for ETH, and it is the probable outcome given the support of its investors.

　　If the bullishness sustains, Ethereums price could breach the 38.2% Fib level. Securing this support would enable ETH to attempt to breach the resistance block between $3,582 and $3,829.

　　Pagsusuri ng Presyo ng Ethereum. Pinagmulan: TradingView

　　However, if the support of $3,000 is lost, ETH will most likely witness a correction to 2,539. This decline would invalidate the bullish thesis and extend investors losses.