Ethereum Price Slides as Holder Profits Near Zero
- Price Decline Trend: Ethereum's price dropped from $2,325 to $2,212, breaking the 50-day moving average at $2,242, indicating the largest bearish volume since April 8, which suggests a shift in market sentiment towards pessimism and potential further price declines.
- Holder Profit Status: As of April 10, all major Ethereum holder cohorts, including addresses holding 100K+, 10K-100K, and 1K-10K ETH, are near zero unrealized profit, with the 10K-100K group slightly negative, indicating that mid-tier whales may sell to limit losses, increasing market selling pressure.
- Technical Support Analysis: The current support level is between $2,175 and $2,180, which has historically held during pullbacks on April 9 and 10; failure to maintain this support could trigger a larger decline, reminiscent of the 2022 bear market scenario.
- Market Sentiment and Technical Structure: The broken 50-day moving average and the near-zero profit among holders are interconnected, both indicating a weakening market structure; if the $2,175 support is not reclaimed, it may lead to significant selling pressure, impacting future market trends.
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Technical Analysis for SAFE
Technical Sentiment Analysis for Safe (SAFE). As of , Safe (SAFE) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 3 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SAFE stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, SAFE is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Safe (SAFE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0606 | 0.0846 | 0.11 | 0.134 | 0.159 | 0.183 | 0.208 |
| Fibonacci | 0.0846 | 0.103 | 0.115 | 0.134 | 0.152 | 0.164 | 0.183 |
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