Ethereum HODL strategy spurs confidence amid price consolidation

Ethereum (CRYPTO:ETH) is currently consolidating below the $3,580 mark, with a notable trend towards HODLing among investors.

This strategy reflects optimism about future price increases, as indicated by declining market activity metrics.

Currently, only 87% of Ethereum's circulating supply is profitable, suggesting potential room for further price appreciation.

Despite recent dips from $3,800, ETH holders remain confident, supported by reduced market activity signaling long-term faith in Ethereum's value.

Technically, Ethereum is trading at $3,492, poised to break resistance at $3,582, potentially rallying to $3,700 with strong Fibonacci support.

In conclusion, Ethereum's resilience amid market volatility underscores investor confidence driven by HODLing.