Ethereum ‘speculatory divergence’ sees ETH price cling to $3K support
ETH price action currently focuses on a key line in the sand for Ethereum short-term holders.
Ethereum’s Ether (ETH) has “underperformed” compared to Bitcoin (BTC) this cycle, and new holders now risk falling into losses.
In the latest edition of its newsletter, “The Week On-Chain” on May 7, analytics firm Glassnode revealed the role of speculators in ETH price support.
Both Bitcoin and Ether have seen downside price action following the former’s latest block subsidy halving in April.
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Author: William Suberg
