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Ethereum Price Chart Shows Key Sell Signal: A Long-Term Risk?

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Ethereum met dalende koersgrafiek

The largest altcoin, Ethereum, has lost a significant 32.8% of its value over the past three months. After trading at $4,747 on October 7, the cryptocurrency is now struggling to hold the $3,000 level. Although a recent bounce following a steep correction has led to some recovery, key indicators are now flashing a sell signal. Could this rally be short-lived?

Ethereum price chart November 30, 2025

Momentum Weaker Than It Appears
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Despite ETH’s recent strong bounce, important indicators do not seem to align with this upward movement. In fact, they are giving off sell signals. Starting with a momentum indicator, the Relative Strength Index (RSI).

Over the past two weeks, a clear ‘bearish divergence’ is visible. This means the price showed a downward trend while the indicator plotted an upward line. This should be seen as a sign that the bounce is weaker than it appears, as sellers still seem to have the upper hand.

Long-Term Holders Have Been Selling for Some Time
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The downward pressure appears to be primarily caused by long-term holders of the coin, who are selling their assets. According to the ‘Holder Net Position Change’ indicator, this group has moved hundreds of thousands of ETH tokens to crypto exchanges.

This selling has been ongoing throughout the entire month. For example, last Friday alone, 973,000 ETH were sold. The peak seems to have occurred on Wednesday, when the total outflow for the day reached around 1.1 million Ethereum tokens.

What Can We Expect?
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So, what can we expect from the ETH price in the near future? At the time of writing, it is trading at $3,007, remaining nearly unchanged over the past 24 hours.

Looking at the Fibonacci levels, we see that the current price is around one of these key points. This also shows us that a potential drop could bring the price to $2,919 or even $2,862. For an upward trend, the coin must first reclaim the $3,138 level. In short, the currently sideways-moving price mainly shows uncertainty. The coming period will have to reveal which direction we will ultimately take.