Ethereum, that most capricious of digital monarchs, now languishes below the fabled $3,000 threshold, its once-mighty price faltering like a weary horseman after a 6% retreat in a single day. The kingdom of altcoins trembles, for the almighty $3,000 barrier-both a psychological mirage and a technical snare-has once again repelled its advances.
This moment, steeped in irony, unfolds as Ethereum’s most esteemed long-term holders, those paragons of patience, begin to divest their treasures. One might call it a noble endeavor to offset losses, though the scent of desperation clings thicker than the smoke of burnt offerings at a temple of profit.
The Vanishing Supply of the Faithful
Per HODL Waves’ chronicles, these long-term custodians of Ethereum’s flame have been quietly unloading their crowns since November’s icy winds. By the 19th of that month, their exodus reached a crescendo, reducing the supply hoarded by the 2-to-3-year cohort from 8.51% to 7.33%. A hollow victory, perhaps, but one that whispers of risk mitigation and the faintest flicker of doubt.
Alas, these LTHs-once the bedrock of Ethereum’s ecosystem-now resemble a crumbling fortress. Their absence has left a void, a chasm that new investors must fill with trembling hands and hopeful hearts. Without their steadfast presence, the price flounders like a drunkard in a storm.
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Yet, amid this gloom, a glimmer of hope emerges. New addresses-those eager novices-have surged 13.4% in seven days, rising from 141,650 to 160,690. A two-and-a-half-month high! One might mistake it for springtime in the desert, though the bloom may wither if the rains of sustained interest fail to follow.
These new arrivals, though green as saplings, bring with them the promise of fresh capital-a lifeline for Ethereum’s fragile stability. Yet, should their enthusiasm wane, the market may find itself adrift, a ship without sails in a sea of uncertainty.
ETH’s Price: A Dance of Doubt
Ethereum now clings to $2,805, a 6% daily loss etched into its soul. The $2,814 resistance looms like a specter, a ghost of failed ambitions past. One might pity the beast, trapped in this purgatory between $2,814 and $3,000, searching for a direction as if lost in a forest of mirrors.
If bullish winds stir and new demand persists, Ethereum may yet breach $3,000-a feat that would render the current bearish narrative as quaint as a fable. But until then, the realm remains a theater of indecision, where hope and despair duel in the shadows. 💸
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2025-12-02 18:12