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@abbass.eth
Ethereum has been in a persistent downtrend over the past six months, struggling to gain bullish momentum since March. While recent sentiment shifts suggest a potential recovery, Eth's price remains range-bound. [1/4]
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@abbass.eth
• The MVRV Long/Short Difference indicator shows that both long-term and short-term holders are experiencing equal gains and losses, reflecting market indecisiveness. • This decline in the MVRV difference suggests short-term weakness but does not necessarily indicate a market bottom. • Short-term holders may continue to face pressure alongside long-term holders.[2/4]
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@abbass.eth
• Despite Ethereum's overall downtrend, positive technical indicators, such as the funding rate, suggest traders remain optimistic about a potential price recovery. • This optimism indicates underlying momentum that could eventually drive Ethereum upward, despite its current struggles. • Traders continue to take long positions, suggesting a belief in a slow but possible recovery. [3/4]
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