There has been a lot of changes in the price of Ethereum in the recent past. ETH price fell to $3,368 on June 14 before rising to $3,512 and remaining above $3,500 at the time of writing. At the moment, ETH is trading at over $3,548, which has risen by 0.34% in the last day even as it fell by 2.96% in the past week. These price movements have been felt in both the long and short positions in the market.
Other on-chain metrics include changes in realized profit, which is the total value of all coins that have been moved and sold at a price lower than the current market value. The realized profit for ETH was $55.18 million on June 12 and increased to $104.58 million by June 14.
This increase may therefore be an indication of the holders taking profits which if the pressure is sustained may lead to a price drop. Nevertheless, if the profit taken hits the market at $3,400 – $3,600 levels, it might trade between this range in the coming days.
