Ethereum $ETH on the Edge – Hope Amid the Downtrend?
Record Inflows Signal Confidence:
On April 22, a staggering 449,000 ETH flowed into accumulation addresses – the highest single-day inflow since 2018. Despite falling prices, long-term investors seem to believe in Ethereum’s comeback.
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But Most Are Still in the Red:
The average entry price for these addresses is $1,981, while ETH currently trades around $1,765. That means many holders are still sitting on losses.
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Network Activity Is Climbing:
Between April 20 and 22, active addresses jumped 10%, signaling increased on-chain engagement and bullish sentiment.
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However: DeFi Remains Weak:
According to #DeFiLlama , DEX transactions are stuck at around 1.3 million per week, showing little momentum in the DeFi space.
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Key Resistance at $1,895:
Over 1.64 million ETH was bought near this level back in November 2024. Expect possible selling pressure as holders aim to break even. Technically, this is also where the 50-day EMA is acting as a major hurdle.
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Warning of a Further Drop:
Analyst #Rektproof sees a bearish fractal forming – a repeating pattern that could push ETH below $1,400 if sentiment sours again.
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Bottom Line:
Stuck between trust and trend: Ethereum is at a crossroads. Accumulation is up, but the reversal isn’t here yet.
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