Ethereum is navigating a challenging market phase, with price facing 
persistent selling pressure despite a tightening supply landscape. On the 
charts, ETH has shown signs of weakness, with repeated rejections at key 
resistance levels and declining momentum suggesting that sellers remain in 
control in the short term. A significant portion of the ETH supply remains 
locked across staking contracts, effectively reducing the amount of liquid ETH 
available on the market. Locked Supply Continues To Tighten Circulating 
Ethereum Ethereum is experiencing selling pressure on the charts, but supply 
is being locked away through staking. An analyst known as Sjuul AltCryptoGems 
on X has pointed out that nearly 3 million ETH is reportedly waiting to be 
staked, with the entry queue stretching to around 50 days. Related Reading: 
Ethereum Supply Tightens As Staking And Outflows Hit Record Highs At the same 
time, the exit queue is almost empty, indicating that very few participants 
are withdrawing their holdings, which is a clear imbalance. If confidence were 
weak, exit activity would rise, and staking demand would slow down, but the 
opposite is playing out. Investors are continuing to lock up their ETH for 
months with a yield of around 2.7%. The total staked has now surpassed 38 
million ETH, accounting for over 31% of the total supply, and the figure 
continues to grow despite the price trend lower. This divergence highlights a 
key dynamic. While the ETH price is showing weakness, the network 
participation is signaling strength. There are long waiting times to enter 
staking and almost no waiting time to exit. This kind of disconnection doesn&#8217;t 
last long. Right now, supply is being locked from circulation while demand is 
building. How Ethereum Long And Short Positions Shrink Across The Board The 
recent price weakness in Ethereum may be largely driven by a shift in 
positioning among hedge funds. According to crypto investor CW, data shows 
that hedge funds significantly reduced their long ETH positions about two 
weeks ago, particularly on Coinbase Derivatives, suggesting that many have 
either liquidated their holdings or exited trades to cut losses. Related 
Reading: Ethereum Staking Ratio Hits Record 31.4% As Exchange Supply Crashes 
To 2016 Lows This wave of long-position unwinding has added notable selling 
pressure, with the US hedge funds emerging as the primary force currently 
weighing on the market. There is a shift in sentiment that contrasts with that 
of other participants, as the dealers and asset managers are largely neutral 
or still maintain a slight advantage in long positions. CW argues that a 
meaningful full-scale rally will begin when hedge funds turn bullish. Activity 
in both long and short positions on Ethereum decreased compared to the 
previous day. CW has also noted that the high-leverage long positions are 
estimated at around $1.1 billion, while short positions significantly outweigh 
them at approximately $4.22 billion. However, if the ETH price rises by $100, 
several short positions would be liquidated. Featured image from iStock, chart 
from Tradingview.com

Ethereum Faces Selling Pressure On Charts While Supply Remains Locked

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