- Ethereum saw strong gains and heightened spot ETF flows, and more holders were at a profit
- While this could spur selling pressure from profit-takers, ETH was likely to advance higher to test $2.8k
Ethereum [ETH] has rallied 64% in the past 19 days. The falling exchange reserve showed that ETH witnessed accumulation. It showed signs of an early recovery phase, and its bullish upward push could have room to grow.
The announcement of the Pectra upgrade attracted more than just retail staking participants. A shift in staking inflow trends pointed towards increased confidence in post-upgrade Ethereum.
Source: Coinglass
The increased spot ETH ETF flows were an early sign of a bullish phase. Almost three weeks ago, ETH rallied 12% in a day, going from $1,580 to $1,770. The next four days saw increased spot ETH demand for Ethereum, but the upward momentum of the largest altcoin slowed down.
Hence, a sustained uptick in spot ETF might not see immediate gains, although it does underline bullish confidence. Will this confidence see ETH push higher, or will short-term holders realize profits and halt the move?
Is Ethereum at risk from profit-taking activity?
Source: Glassnode
The percent supply in profit metric fell to lows not seen since November 2022. The price action of the past three weeks saw the metric surge higher. It was not at the 95% threshold that indicates overheated conditions.
Source: Coinalyze
Data from Coinalyze showed that the spot demand was significant over the past month.
The current rally was borne by spot demand, and its organic nature meant that the threat from short-term holders realizing profit is lessened.
Source: Coinglass
The 6-month ETH liquidation heatmap showed that the $2,718 and $2,878 levels were the next sizeable liquidity pockets that could attract prices higher. It was another hint that the move will not halt at $2.6k.
Source: ETH/USDT on TradingView
The 3-day chart showed a supply zone at $2,750-$2,820. It lined up well with the liquidation heatmap and presented a bullish price target for traders to take profits at.
As things stand, it is unclear if ETH could immediately push higher and go above $3k.
The price action evidence suggested that a few weeks of consolidation beneath $3k might be necessary to build the ammunition for the next move.
- Ethereum saw strong gains and heightened spot ETF flows, and more holders were at a profit
- While this could spur selling pressure from profit-takers, ETH was likely to advance higher to test $2.8k
Ethereum [ETH] has rallied 64% in the past 19 days. The falling exchange reserve showed that ETH witnessed accumulation. It showed signs of an early recovery phase, and its bullish upward push could have room to grow.
The announcement of the Pectra upgrade attracted more than just retail staking participants. A shift in staking inflow trends pointed towards increased confidence in post-upgrade Ethereum.
Source: Coinglass
The increased spot ETH ETF flows were an early sign of a bullish phase. Almost three weeks ago, ETH rallied 12% in a day, going from $1,580 to $1,770. The next four days saw increased spot ETH demand for Ethereum, but the upward momentum of the largest altcoin slowed down.
Hence, a sustained uptick in spot ETF might not see immediate gains, although it does underline bullish confidence. Will this confidence see ETH push higher, or will short-term holders realize profits and halt the move?
Is Ethereum at risk from profit-taking activity?
Source: Glassnode
The percent supply in profit metric fell to lows not seen since November 2022. The price action of the past three weeks saw the metric surge higher. It was not at the 95% threshold that indicates overheated conditions.
Source: Coinalyze
Data from Coinalyze showed that the spot demand was significant over the past month.
The current rally was borne by spot demand, and its organic nature meant that the threat from short-term holders realizing profit is lessened.
Source: Coinglass
The 6-month ETH liquidation heatmap showed that the $2,718 and $2,878 levels were the next sizeable liquidity pockets that could attract prices higher. It was another hint that the move will not halt at $2.6k.
Source: ETH/USDT on TradingView
The 3-day chart showed a supply zone at $2,750-$2,820. It lined up well with the liquidation heatmap and presented a bullish price target for traders to take profits at.
As things stand, it is unclear if ETH could immediately push higher and go above $3k.
The price action evidence suggested that a few weeks of consolidation beneath $3k might be necessary to build the ammunition for the next move.
Этот интересный отчет представляет собой сборник полезных фактов, касающихся актуальных тем. Мы проанализируем данные, чтобы вы могли сделать обоснованные выводы. Читайте, чтобы узнать больше о последних трендах и значимых событиях!
Изучить вопрос глубже – https://cbahukuk.com/en/commercial-law
where can i buy clomiphene get generic clomid without insurance where buy generic clomiphene where can i buy cheap clomid tablets can i get generic clomiphene for sale cost generic clomiphene without rx how to buy clomiphene without prescription
The vividness in this piece is exceptional.
More peace pieces like this would urge the web better.
buy rybelsus online cheap – order semaglutide 14 mg online periactin 4 mg tablet
motilium pills – oral flexeril 15mg flexeril cost
brand clavulanate – https://atbioinfo.com/ buy ampicillin sale
purchase esomeprazole generic – https://anexamate.com/ purchase esomeprazole generic
buy coumadin – https://coumamide.com/ losartan buy online
meloxicam over the counter – relieve pain oral meloxicam 15mg
order deltasone online – https://apreplson.com/ order prednisone 10mg pills
otc ed pills – fastedtotake.com ed pills where to buy
buy amoxil without a prescription – order amoxicillin online buy amoxil online cheap
buy generic forcan for sale – https://gpdifluca.com/# buy forcan generic
order cenforce generic – https://cenforcers.com/# cenforce 50mg brand
cheap cialis 20mg – https://ciltadgn.com/# snorting cialis
ranitidine generic – https://aranitidine.com/ cost ranitidine 150mg
cialis online no prescription – cialis and dapoxetime tabs in usa generic cialis 5mg
Thanks for putting this up. It’s well done. https://gnolvade.com/es/lasix-comprar-espana/