Ethereum price bounced almost 10% from this week’s lows near $2,600, and the price is up about 1% today. The move looks positive, but the recovery may not last.
Two major bearish signals have emerged simultaneously. Together, they threaten to end the bounce before it grows.
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Holder Selling Surges 300% as a Death Cross Forms
Two connected signals now point to deeper weakness.
The first comes from long-term investors, often called hodlers. These are wallets that usually hold ETH for more than 155 days. When hodlers increase their selling, it usually shows fear or a shift in long-term belief.
On November 22, net selling from these wallets was about 334,600 ETH. On November 23, it jumped to 1,027,240 ETH — a 300% spike in one day. This is a major exit from long-term holders and adds heavy supply at a time when ETH already trades in a broader downtrend.
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At the same time, a death cross has almost formed. A death cross appears when the 50-day exponential moving average (EMA) drops under the 200-day EMA. An EMA gives more weight to recent prices, so it reacts faster than a simple moving average.
When the 50-day EMA crosses below the 200-day, it signals strong downward momentum. That could hit the ETH prices significantly if the selling pressure continues to rise.
Bearish Risks Build: TradingViewHere is the key connection:
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Hodler selling is rising sharply at the exact moment the EMA structure is turning bearish. That means the selling pressure is reinforcing the death-cross signal instead of slowing it down. When these two appear together, recoveries usually fail and prices retest lower supports.
Ethereum Price Action: Downside Risk Still Outweighs the Bounce
Ethereum now trades near $2,820, but the chart shows more pressure above than support below.
The first level ETH must defend is $2,710, the 0.786 Fibonacci zone. Losing this level opens a drop toward $2,450, which marks roughly a 13% downside from current levels. If the death cross completes while hodler selling continues, ETH can fall directly toward this level and even under it if the market conditions weaken.
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Ethereum Price Analysis: TradingViewBelow $2,452, the next deeper support sits near $1,700 — the broader extension from the descending structure. This only activates if the trend accelerates and sellers remain dominant.
Upside remains limited unless the ETH price can reclaim:
- $3,190, the first meaningful resistance
- $3,660, the stronger ceiling that signals an early trend shift
Under current conditions, hitting these levels looks difficult because both bearish signals — the surge in hodler selling and the death-cross setup — remain active.
Source: https://beincrypto.com/ethereum-price-300-percent-hodler-selling-threat/
