Ethereum reveals a "death zone"! Can the $3,700 support hold the fate turnaround?
ETH bulls are crazily building positions in the $3,700-$3,810 area, with 3 million wallets accumulating 4.6 million ETH, forming a key support comparable to a steel moat. Unfortunately, facing the $4,000 resistance, Ethereum remains weak, and the sideways deadlock is about to collapse. What are the consequences of losing support? It could directly drop to $3,565 or even $3,303, and the short sellers' feast is brewing in the dark!
On the network level, good news is coming. Santiment data shows that the number of new Ethereum addresses has soared to an 8-month high, with retail and institutional funds continuously flowing in. Driven by the rise of the DeFi ecosystem and spot ETFs, ETH demand is increasingly hot, and market confidence remains unextinguished.
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