Will Short-Term Ethereum Holders Rescue ETH Price from Falling to $3,500?

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The price of Ethereum languishes, trapped in the mire of investor indecision. After weeks of agonizingly slow movement, the once-mighty altcoin king seems unable to shake off its ennui. It is stuck, caught in a consolidation phase as hope slowly seeps away. Ah, what a tragic tale of missed opportunities! Alas!

The dire lack of recovery momentum has left the Ethereum faithful wringing their hands in despair. Investors fear the worst: a descent to even lower levels should sentiment fail to shift. The abyss stares back, and Ethereum blinks first.

Ethereum Holders Face a Bleak Prospect of Loss

The Net Unrealized Profit/Loss (NUPL) metric has dipped into that dark zone-the capitulation zone-where the brave few venture, knowing well that the soil beneath their feet is rocky. Oh, but how sweet is that temporary relief rally when the price hits those oversold levels, where bargains seem to appear like mirages in the desert. A perfect place for the short-term holders to stage a quick comeback. What a lovely thought… too bad it never lasts.

These short-term holders, known for their swift decisions and their endless attempts to find the slightest profit, refuse to bow before the almighty loss. They resist, oh how they resist, desperately trying to push the prices upward, even if it is just for a fleeting moment. Ethereum has already seen two such brief rallies this month, and it wouldn’t be a surprise if they attempted to repeat their valiant, if ultimately futile, dance once again.

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Taking a step back, we see the grand macro picture: Ethereum’s weighted sentiment has plunged to a nine-month low. Could this be the beginning of the end? The mood among investors grows darker by the day, their confidence shattered like fragile glass. A fading trust in the markets, no doubt, and little to no enthusiasm for new positions. Those once-bold traders now hesitate at the gates, unsure whether to go in or just watch the show.

Will this bearish outlook persist? Perhaps only for a while. But who knows-if sentiment drags on too long, we might see a greater selling wave, as Ethereum struggles to cling to any remaining hope. If sentiment does not change, Ethereum may find it harder to maintain any semblance of support. The walls may crumble, my friends.

The Price of ETH: Stuck in a Box

At the time of writing, Ethereum hovers at $3,846, a mere breath above its last line of defense-the $3,802 support level. Oh, how precarious it all is! A price stuck in a pit of rangebound trading, where volatility is but a distant memory. Ethereum seems destined to remain locked in this narrow box for the foreseeable future, unless, of course, there is a sudden change in fortunes. Will the market gods smile upon the faithful or mock them with more uncertainty? Only time will tell.

At present, Ethereum wavers between the $4,154 and $3,802 range. A range that could persist, dear reader, with ETH maybe making a feeble attempt to test resistance once more, should the fickle winds of short-term momentum blow in its favor. But oh, that is a delicate hope, like a fleeting summer breeze.

But hark! If the bearish tide rises again and Ethereum falls below its meager $3,802 support, a far worse fate could be in store. Should that break occur, the price could tumble even further, sinking under $3,742 and heading towards the dreaded $3,500 level. And with it, the final vestiges of the bullish narrative would crumble, leaving Ethereum to face a grim and uncertain future.

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2025-10-31 23:32