$ETH STRUGGLES TO FIND BUYERS AS SUPPLY OVERWHELMS DEMAND ⚡
Low gas fees signal weak network activity — the burn mechanism is barely operational, removing a key deflationary tailwind. Meanwhile, L2 activity soaks up liquidity that used to flow into L1.
Daily structure shows lower highs since March, with price consolidating below a clear resistance zone near $3,400. Momentum is flat, and volume is declining on each bounce.
Are you still holding or rotating into other narratives as Ethereum's value proposition shifts?
Not financial advice. Always manage your risk.
#ETH #Ethereum #SupplySide #CryptoAnalysis ⚡