Ethereum price reached $4,100 on March 12, but a wave of profit-taking among long-term holders is threatening the rally. After a 73% rally in the last 30 days, Ethereum’s rally has stalled at $4,100. Can the bulls push for $4,500, or will ETH drop below $4,000?

Long-term investors have traded 167,500 ETH in the last 24 hours. Unlike Bitcoin, Ethereum is still 22% away from its all-time high of $4,878, facing resistance and historical accumulation clusters.

ETH price retraced from $4,100 to $3,967 on March 12. On-chain data shows high trading activity among long-term investors who have held since 2021. A chart by Santiment reveals 167,500 ETH previously held dormant since 2021 has been moved, worth over $1 billion at current prices.

When long-held coins are moved near resistance levels, it indicates impending profit-taking. If the trend continues, ETH could struggle to stay above $3,900. Bears may push for a downswing towards this level, based on data from IntoTheBlock.

If market demand absorbs the $1 billion ETH supply, bulls could maintain the $4,000 support and aim for $4,500 again.

“With over $1 billion worth of ETH flooding the market, Ethereum price could struggle to maintain bullish momentum in the coming days.”

For more insights, keep an eye on top cryptocurrencies like KangaMoon (KANG), Solana (SOL), and Dogecoin (DOGE).

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