CoinWorld News Report:
As several market indicators show, the price of Ethereum (ETH) appears to be fluctuating within a neutral range. The current Net Unrealized Profit/Loss (NUPL) value indicates that most investors have neither made significant profits nor suffered major losses.
This balanced sentiment reflects a mixture of cautious optimism and anxiety, but lacks the strong emotions that typically drive price volatility. Combined with the behavior of large holders and key technical indicators, ETH is likely to continue consolidating in the short term.
ETH NUPL Currently Maintains Neutrality
The NUPL for ETH is currently at 0.34, indicating a neutral market. This value suggests that most investors have neither made substantial profits nor suffered significant losses. It reflects a balanced sentiment among holders, mixed with optimism and anxiety, but without the extreme emotions that usually lead to major market fluctuations.
NUPL, which measures investor sentiment by comparing unrealized profits and losses, indicates that holders are profitable when NUPL is positive and at a loss when NUPL is negative. The value of 0.34 places ETH in the “Optimism – Anxiety” phase, indicating that investors feel cautiously optimistic but also exercise caution.
ETH is far from reaching the more extreme stages of “Hope – Fear” or “Belief – Denial,” indicating a stable and neutral market condition. This neutrality suggests that prices may experience sideways movement in the short term, as strong buying and selling pressures currently do not dominate.
Ethereum Whales Have Not Increased Their Holdings
The number of addresses holding at least 1,000 ETH is decreasing, indicating that whales have not been accumulating ETH. On September 25th, there were approximately 5,628 such addresses, and now this number has dropped to 5,547. This steady decline suggests a lack of confidence among major stakeholders.
ETH Price Prediction: More Sideways Volatility in the Future?
This Ethereum (ETH) candlestick chart displays several key Exponential Moving Averages (EMA) and potential support and resistance levels. Currently, the trading price of ETH is around $2,516, slightly below multiple EMA lines, indicating downward pressure.
The fact that its short-term lines are declining further strengthens this observation. If they break below the long-term price, it would generate a bearish signal.
The chart also highlights obvious resistance levels at $2,728 and $2,820, which previous attempts to break through have failed. Convincingly surpassing these levels would trigger strong bullish momentum. On the downside, support levels are at $2,308 and $2,150, suggesting potential buyer involvement.
The presence of these support and resistance levels, along with the lack of decisive movements around the EMAs, suggests that ETH may continue to consolidate and fluctuate within this range until a clear trend forms.
