IF ETH REMAINS ABOVE THE $2,800 LEVEL, IT COULD SWIFTLY REACH THE $4,000 RANGE IN THE SHORT TERM:
ETH has seen a significant price surge recently, yet retail investors appear to be holding onto their positions rather than taking profits. The current easing of risks and the market boost provided by the 'Trump Trade' further align with this on-chain data, reinforcing the observed holding behavior among investors. This behavior suggests that many still perceive ETH as undervalued, even at its current levels. Supporting this sentiment, inflows to major exchange deposit addresses, such as Binance and OKX, remain low, indicating that investors are not moving their holdings for liquidation—a common signal of profit-taking. Additionally, the SOPR (Spent Output Profit Ratio) remains close to 1 (<1.10), implying that most ETH transactions are occurring near breakeven, with little indication of substantial profit realization. These metrics collectively reflect a strong "buy and hold" sentiment among market participants, underpinned by confidence in ETH's long-term growth potential. Despite recent volatility, the market's reluctance to sell reinforces the belief that Ethereum’s current price is still attractive, with further upside likely in the near term.
Written by onatt
