The Ethereum price prediction is in focus after ETH faced a sharp correction, failing to hold above $4,700. The digital asset slipped to $4,335, marking a 7.35% decline. The shift in sentiment suggests a more cautious outlook, as some large holders appear to be taking profits. Meanwhile, some traders have also been discussing Layer Brett, a Layer 2 project that the team says is being developed around the Ethereum ecosystem.
Layer Brett: project overview and reported claims
Layer Brett is being presented by its team as a project intended to address network-cost and throughput constraints associated with Ethereum. Gas fees can rise during periods of congestion, and transactions may be delayed when demand is high.
According to project materials, Layer Brett is building on a custom Ethereum Layer 2 and aims to support high transaction throughput with comparatively low fees. The project also says users would be able to trade, stake, and interact with applications through the network, although these claims are not independently verified.
The team further describes the project as including features such as staking incentives, gamified engagement, and DeFi integration. Any rewards or yield figures referenced in project marketing can change and should not be treated as guaranteed outcomes.
Meanwhile, the project says its current token sale has raised more than $1.9 million and has more than 3,500 holders. The same materials state that 10% of the token sale supply has already been allocated.
Ethereum price prediction: the $4,000 area remains in focus amid profit-taking
The Ethereum price has lost ground since its highs above $4,700. It sits around a closely watched level, with a key trendline still offering some support at $4,300. However, selling pressure has increased near the $4,000 area, with recent large-holder activity cited as a potential downside risk.
Recent data from Lookonchain reports that one trader recently closed all 66,749 ETH long positions, realizing a profit of $6.86 million. Such large-scale profit-taking can contribute to near-term volatility as positions are reduced.
Additionally, Lookonchain reported that another large holder sold 2,277 ETH worth $9.57 million at $4,203, locking in a profit of $4.04 million. These exits, coupled with rising sell-side pressure, have been reflected in some market indicators. CryptoQuant’s Spot Taker CVD has shown sellers in control during recent sessions.
Recent Ethereum price predictions have begun to reflect these dynamics, with analysts watching whether buyers can defend the $4,000 area. If Ethereum falls below that level, it could increase the likelihood of further downside, though short-term price moves remain uncertain.
Conclusion
As profit-taking continues, market participants are monitoring whether Ethereum can hold above the $4,000 area. Separately, Layer Brett has attracted attention due to its ongoing token sale and its stated goal of building a Layer 2 network. The project has publicly described a token price of $0.0053 per token at the time of writing, though such terms and availability can change.
Project links (for reference):
Website: https://layerbrett.com
Telegram: https://t.me/layerbrett
X: (1) Layer Brett (@LayerBrett) / X
This article contains information about a cryptocurrency token sale. This outlet is not affiliated with the project mentioned. As with any initiative within the crypto ecosystem, readers should do their own research before participating and carefully consider the risks involved. This article is for informational purposes only and does not constitute financial or investment advice.
