Ethereum (ETH) Price Stability Shaken by Staker Sell-off Concerns

Ethereum’s short-term future is uncertain as stakers remain positioned for sell-action and the price fails to breach the $2,200 resistance. The completion of the Shapella upgrade has led to a surge in Large ETH transfers and an increase in the supply of coins deposited on exchanges – this can lead to selling pressure and trigger a potential price correction. The imbalance of sell order volumes outweighing buy orders on exchange order books can force a price downsizing as sellers may have to lower their prices to attract buyers. The In/Out of Money indicates the Ethereum price is likely to retrace towards $1,980 and could slide further towards $1,850. The bulls invalidate the bearish outlook if ETH surges above the $2,100 resistance zone, with $2,400 being the price target before hitting another considerable resistance. However, this price analysis article is for informational purposes only and should not be considered financial or investment advice.