Ethereum Price Analysis: Bearish Trend Persists as Long-Term Holders Sell 45K ETH Daily
Ethereum Price Analysis: Bearish Trend Persists as Long-Term Holders Sell 45K ETH Daily Ethereum price continues to weaken as long-term holders sell at their fastest pace since 2021, putting steady...
Ethereum Price Analysis: Bearish Trend Persists as Long-Term Holders Sell 45K ETH Daily
Ethereum price continues to weaken as long-term holders sell at their fastest pace since 2021, putting steady pressure on ETH market sentiment.
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Ethereum is trading near $3,211, down 10% in the past 24 hours. The price has fallen 4% over the week and 21% in the past month, leaving it about 35% below the August high of $4,946. Trading volume rose 32.7% to $49.6 billion, indicating heightened activity amid the price decline.
Derivatives activity also increased, with volume up 27.6% to $139.7 billion, while open interest fell about 7% to $37.8 billion. This pattern suggests traders are closing positions during the decline rather than opening new leveraged trades.
Long-Term ETH Holders Step Up Selling
According to a Nov. 14 post on X by Glassnode, long-term Ethereum holders have intensified their selling over the past three months. Addresses holding ETH for 3 to 10 years have been moving or selling over 45,000 ETH per day on average based on the 90-day trend — the highest level of activity from this group since February 2021.
When long-term holders sell at this pace, it often reflects profit-taking or reducing exposure after large rallies. This indicates that ETH may require more time to stabilize before buyers return with confidence.
CryptoQuant analysts also report that Ethereum’s Net Taker Volume (30-day MA) remains negative. While selling pressure in the futures market has eased compared to September, sellers still dominate buyers. Historically, ETH tends to form a firm bottom only after this metric turns positive. Until then, the market may experience sideways or downward movement before establishing a clear support base.
Ethereum Price Technical Analysis
Ethereum is trading close to the lower Bollinger Band on the daily chart, signaling continued pressure. All major moving averages — from the 10-day to the 200-day — remain below the price, reinforcing the downward trend.
Traders and investors should monitor support levels closely, as a rebound requires strength from buyers to counter ongoing selling by long-term holders.
