Ethereum Struggles to Break Resistance Amid Market Uncertainty
- Ethereum is attempting to stabilize above $3,100 after failing to break the $3,400 resistance level.
- The Accumulated Order Flow (CVD) indicator shows a negative value of approximately -3,676, indicating ongoing selling pressure.
- The correlation between ETH price and CVD is around 0.62, suggesting partial alignment with volume behavior despite liquidity favoring sellers.
- ETH is trading near $3,111 and remains in a tight range as traders watch for potential deeper corrections or a reset before moving higher.
Ethereum’s price action remains fragile as it struggles to maintain momentum above key levels amid broader market uncertainty. The persistent negative CVD indicates that demand has yet to strengthen enough to shift short-term market flows positively.
Despite this selling pressure, Ethereum holding above the $3,000 mark points to underlying support that may prevent further declines for now. (Source)
