While significant accumulation was observed at around $4,400, the platform noted that part of the supply was quickly redistributed higher. According to the on-chain platform, this action signals a clear swing-trade dynamic across both retail and institutional channels.
At the time of writing, Ethereum was trading at $4,238, indicating an over 1% decrease in the last 24 hours. Data from CoinMarketCap shows that its trading volume has turned negative, exhibiting a 7% decrease in the past day. A decline in trading volume indicates waning investor sentiment toward the altcoin.
