Ethereum continues to struggle near the $3,000 level as repeated recovery attempts lose momentum. ETH trades just below this psychological barrier, reflecting cautious sentiment. 

While investor interest is rising, on-chain activity remains muted. This imbalance is raising concerns that Ethereum’s price may be overheating without sufficient network usage to sustain gains.

Ethereum Holders Are Rising

Ethereum is recording a steady rise in new wallet creation. The network now averages about 163,000 new addresses per day. This compares with roughly 124,000 daily additions during July, previously considered a peak period for network growth.

The increase highlights strong investor curiosity around Ethereum despite weak price performance. Growing wallet creation suggests demand for exposure remains intact. However, new addresses alone do not guarantee price strength.

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Macro indicators present a mixed picture. Ethereum’s network value-to-transactions ratio is rising sharply. The indicator currently sits at a 16-month high, signaling potential overheating conditions.

A high NVT ratio suggests market valuation is growing faster than transaction activity. Optimism around recovery appears to be driving interest, but real usage has yet to follow. Without increased on-chain activity, price advances risk stalling as valuation outpaces fundamentals.

ETH Price Is Yet To Find Strength To Escape

Ethereum trades near $2,986 at the time of writing, sitting just below the $3,000 resistance. This level has been tested repeatedly in recent sessions. Failure to break above it has reinforced caution among traders watching for confirmation.

ETH may continue consolidating below $3,000 or briefly breach it without holding support. If transaction activity remains weak, downside pressure could return. In that case, the $2,798 support may be tested again, reflecting unresolved macro imbalances.

Improving conditions could shift the outlook. A rise in transaction volume would help Ethereum secure $3,000 as support. Holding that level could open a path toward $3,131. A sustained break beyond this barrier would invalidate the bearish thesis and allow ETH to target $3,287, restoring confidence.

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Midnight has extended its sharp rally as strong investor demand pushed the token to a new all-time high. The project associated with Cardano founder Charles Hoskinson continues to attract attention after sustaining upside momentum. 

While NIGHT has already delivered outsized gains, technical and macro signals suggest additional upside potential remains.

Midnight Holders Are Watching A New Sunrise

Investor support for NIGHT remains firm. The Chaikin Money Flow sits in positive territory above the zero line, confirming net inflows. Although the indicator dipped slightly over the past 48 hours, capital continues entering the asset, signaling ongoing confidence rather than distribution.

Much of this demand is linked to Midnight’s association with Charles Hoskinson, the founder of Cardano. That connection has boosted credibility and visibility.

In the short term, this narrative-driven interest is likely to keep capital rotating into NIGHT, supporting elevated price levels.

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Macro conditions also favor NIGHT’s performance. The token shows a weak correlation with Bitcoin, insulating it from broader market uncertainty. This independence has allowed NIGHT to trend higher even as Bitcoin struggles to regain momentum.

Low correlation often benefits emerging assets during periods of BTC consolidation. With Bitcoin lacking a clear recovery signal, NIGHT’s ability to move on its own fundamentals remains a key advantage. This dynamic could continue supporting relative outperformance in the near term.

NIGHT Price Forms New All-Time High

Midnight price surged 42.7% over the past 24 hours, trading near $0.093 at the time of writing. The rally resulted in a new intraday all-time high of $0.096. Momentum remains strong, reflecting aggressive buying and sustained interest following the breakout.

Bullish sentiment and favorable macro conditions support further upside. If current trends persist, NIGHT could push beyond the $0.100 level. Entering the 10-cent range would mark a psychological milestone, potentially drawing additional speculative interest and reinforcing momentum.

Risks remain if holders begin taking profits. A wave of selling could pull NIGHT back toward the $0.075 support. Losing that level would weaken the bullish structure. Further downside could extend to $0.060, invalidating the current bullish thesis and increasing volatility.

The post Cardano’s Midnight Token Hits New All-Time High Amid a 50% Rally appeared first on BeInCrypto.

Bitcoin has shown mixed price action in recent sessions, marked by sharp fluctuations and tentative recovery attempts. BTC rebounded after a brief breakdown, yet momentum remains fragile. 

A key concern is weakening confidence among one of Bitcoin’s most influential cohorts, which could complicate efforts to sustain a broader price recovery.

Bitcoin Holders Witness A Dip In Gains

Bitcoin long-term holders have increased selling activity over the past several days. On-chain data shows the 30-day change in long-term holder supply has dropped to a 20-month low.

Similar levels were last recorded in April 2024, signaling elevated distribution pressure.

This behavior suggests long-term holders are reducing exposure to protect remaining gains. As unrealized profits shrink, selling accelerates to avoid losses. Such actions often weigh on price recovery, as supply increases without a matching rise in new demand.

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Macro indicators provide additional context. The long-term holder net unrealized profit or loss metric has declined to a monthly low. This drop indicates profits among this group are eroding, increasing sensitivity to further downside moves.

Historically, falling LTH NUPL readings trigger defensive selling. However, once the indicator declines further, selling pressure often slows.

At those levels, long-term holders typically pause distribution, allowing Bitcoin price to stabilize and potentially recover if demand improves.

BTC Price Is Awaiting Stronger Cues

Bitcoin trades near $87,900 at the time of writing, remaining below the $88,210 resistance. The asset recently bounced after briefly slipping under the $86,247 support. This recovery shows buyers are still active at lower levels, though conviction remains cautious.

A short-term climb toward $90,308 remains possible. However, resistance near that level could cap gains. Given ongoing long-term holder selling, Bitcoin may continue consolidating near the $88,201 zone while the market absorbs excess supply.

Upside potential improves if long-term holders shift their stance. A slowdown in selling could reduce overhead pressure.

In that scenario, Bitcoin may break above $90,308 and target $92,933. Such a move would invalidate the bearish thesis and signal renewed confidence among key market participants.

The post Bitcoin Critical Holders’ Profit Crashes To Monthly Low: Will Price Further Suffer? appeared first on BeInCrypto.

Pi Coin has faced renewed selling pressure after its recent decline pushed the price below the $0.200 level. The drop reflected weak market confidence and broader hesitation among investors. 

However, recent activity suggests holders are actively attempting to reverse the trend and stabilize Pi Coin’s price action.

Pi Coin Holders Change Their Stance

Momentum indicators point to a shift in sentiment. The moving average convergence divergence is forming a bullish crossover. The MACD line has crossed above the signal line, indicating strengthening upside momentum after an extended corrective phase.

This crossover ends a nearly 20-day stretch of bearish momentum. Such signals often precede short-term recoveries when supported by capital inflows.

For Pi Coin, this development suggests buyers are regaining control and attempting to rebuild confidence at current levels.

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Macro indicators reinforce the improving outlook. The Chaikin Money Flow shows a clear change in capital behavior. Outflows observed earlier this month have flipped into inflows during the past 24 hours.

The CMF has moved above the zero line, confirming net buying activity. This shift highlights growing conviction among Pi Coin holders. Sustained inflows are essential for recovery, as price advances rely on consistent demand rather than short-lived speculative interest.

PI Price at a Critical Juncture

Pi Coin trades near $0.207 at the time of writing, sitting just below the $0.213 resistance. This level aligns with the 23.6% Fibonacci retracement. The overlap increases its technical importance for defining near-term direction.

Reclaiming $0.213 as support would strengthen the recovery structure. In an uptrend, holding this Fibonacci level often signals continuation. Supported by improving momentum and inflows, Pi Coin could advance toward $0.224, with scope for further gains if buying pressure persists.

Downside risks remain if sentiment shifts again. Renewed selling could push Pi Coin below $0.207. A breakdown may expose $0.199 as initial support, followed by $0.188. Losing these levels would invalidate the bullish thesis and reinforce downside vulnerability.

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