- ETH wants to break above resistance.
- The bulls supported the coin’s uptrend with a number of markers spotted on a daily chart.
Leading altcoin Ethereum [ETH] is poised to breach the upper line of its descending channel, suggesting a decline in selling pressure.
At $3,100 at press time, the coin’s value has risen by almost 10% in the last week, according to CoinMarketCap. This growth mirrored the uptick in the general crypto market in the last seven days.
According to CoinGecko, global cryptocurrency market capitalization has surged by 9% during that period.
Will ETH make it?
A descending channel is formed when an asset’s price continues to make lower highs and lower lows, indicating a broader downward trend.
ETH began to trend within this channel on the 12th of March, causing its price to decline by 20% since then.
With the coin making its way toward the upper line of the channel, which has formed a resistance level since March, the market witnessed a surge in new liquidity inflow.
Confirming this was ETH’s Chaikin Money Flow, which recently crossed above the zero line and was in an uptrend at press time. This indicator measures the flow of money into and out of the coin’s market.
When an asset’s CMF climbs this way, it suggests more buying pressure than selling pressure in the market. This is often due to the asset’s price making new highs because of a surge in trading volume.
In the last seven days, ETH’s daily trading volume has risen by 40%, per Santiment’s data.
Signaling the rise in bullish presence, ETH’s positive directional index (green) crossed above its negative index (red) on the 17th of May.
Such readings made from an asset’s Directional Movement Index (DMI) indicate a bullish rise in the market.
Further, the value of the coin’s Elder-Ray Index was positive at press time.
Source: ETH/USDT on TradingView
This indicator measures the relationship between the strength of buyers and sellers in the market. When it returns a positive value, it means that bull power dominates the market.
Read Ethereum’s [ETH] Price Prediction 2024-25
Should ETH bulls succeed and break above the upper line of the descending channel, the coin’s next price point will be above $3200.
Source: ETH/USDT on TradingView
However, if selling pressure mounts and a downtrend is initiated, the price is expected to fall to $2775 toward support.
- ETH wants to break above resistance.
- The bulls supported the coin’s uptrend with a number of markers spotted on a daily chart.
Leading altcoin Ethereum [ETH] is poised to breach the upper line of its descending channel, suggesting a decline in selling pressure.
At $3,100 at press time, the coin’s value has risen by almost 10% in the last week, according to CoinMarketCap. This growth mirrored the uptick in the general crypto market in the last seven days.
According to CoinGecko, global cryptocurrency market capitalization has surged by 9% during that period.
Will ETH make it?
A descending channel is formed when an asset’s price continues to make lower highs and lower lows, indicating a broader downward trend.
ETH began to trend within this channel on the 12th of March, causing its price to decline by 20% since then.
With the coin making its way toward the upper line of the channel, which has formed a resistance level since March, the market witnessed a surge in new liquidity inflow.
Confirming this was ETH’s Chaikin Money Flow, which recently crossed above the zero line and was in an uptrend at press time. This indicator measures the flow of money into and out of the coin’s market.
When an asset’s CMF climbs this way, it suggests more buying pressure than selling pressure in the market. This is often due to the asset’s price making new highs because of a surge in trading volume.
In the last seven days, ETH’s daily trading volume has risen by 40%, per Santiment’s data.
Signaling the rise in bullish presence, ETH’s positive directional index (green) crossed above its negative index (red) on the 17th of May.
Such readings made from an asset’s Directional Movement Index (DMI) indicate a bullish rise in the market.
Further, the value of the coin’s Elder-Ray Index was positive at press time.
Source: ETH/USDT on TradingView
This indicator measures the relationship between the strength of buyers and sellers in the market. When it returns a positive value, it means that bull power dominates the market.
Read Ethereum’s [ETH] Price Prediction 2024-25
Should ETH bulls succeed and break above the upper line of the descending channel, the coin’s next price point will be above $3200.
Source: ETH/USDT on TradingView
However, if selling pressure mounts and a downtrend is initiated, the price is expected to fall to $2775 toward support.
![NEAR, AVAX, Arweave [AR], MetisDAO [METIS]: These are the altcoins to watch](https://coininsights.com/wp-content/uploads/2024/05/sam-alt-multi-75x75.jpeg)
I am writing to make you be aware of what a extraordinary experience my friend’s girl undergone checking your webblog. She realized too many things, including what it is like to possess an awesome helping style to have many people without hassle comprehend some advanced subject matter. You undoubtedly exceeded her expected results. I appreciate you for displaying these powerful, healthy, educational and in addition fun tips about that topic to Sandra.
It is the best time to make some plans for the future and it’s time to be happy. I have read this post and if I could I wish to suggest you some interesting things or advice. Maybe you could write next articles referring to this article. I desire to read more things about it!
where to get cheap clomiphene price order generic clomid online where buy generic clomiphene without prescription can i purchase clomiphene pills order clomiphene without a prescription can you get generic clomiphene without a prescription where can i buy cheap clomid price
I couldn’t weather commenting. Warmly written!
This website positively has all of the information and facts I needed about this participant and didn’t know who to ask.
azithromycin 250mg generic – purchase metronidazole online order flagyl 200mg
rybelsus 14mg brand – order periactin 4 mg generic cost periactin 4 mg
motilium over the counter – order sumycin without prescription order generic flexeril 15mg
cheap inderal – plavix where to buy methotrexate 2.5mg usa
cheap amoxicillin generic – buy diovan cheap cost ipratropium 100mcg
buy azithromycin 500mg – purchase zithromax generic bystolic brand
augmentin 625mg tablet – https://atbioinfo.com/ buy generic acillin for sale
nexium 40mg usa – anexamate order esomeprazole 40mg pills
buy coumadin sale – coumamide losartan 50mg tablet
Thank you for some other informative site. Where else may just I get that type of information written in such an ideal manner? I’ve a challenge that I am simply now running on, and I have been at the glance out for such info.
buy meloxicam 7.5mg online cheap – https://moboxsin.com/ mobic 7.5mg usa
buy deltasone 5mg online – corticosteroid deltasone online
ed pills cheap – site where can i buy ed pills
buy generic amoxicillin – amoxicillin buy online buy amoxil pill
buy fluconazole 100mg without prescription – flucoan fluconazole drug
buy cheap generic cenforce – https://cenforcers.com/# buy cenforce for sale
cialis leg pain – mint pharmaceuticals tadalafil cialis side effects with alcohol
order generic cialis online 20 mg 20 pills – https://strongtadafl.com/# tadalafil tablets 40 mg
purchase zantac for sale – buy ranitidine 150mg without prescription order ranitidine pill
viagra pill 100mg – strong vpls cheap viagra scams
Greetings! Utter gainful advice within this article! It’s the crumb changes which liking espy the largest changes. Thanks a quantity for sharing! pastillas clomid para la fertilidad
This is the kind of literature I rightly appreciate. https://buyfastonl.com/
I am in truth happy to glance at this blog posts which consists of tons of useful facts, thanks for providing such data. https://ursxdol.com/prednisone-5mg-tablets/
I am in fact enchant‚e ‘ to glitter at this blog posts which consists of tons of useful facts, thanks object of providing such data. https://prohnrg.com/product/diltiazem-online/
Hiya, I’m really glad I have found this information. Today bloggers publish only about gossips and net and this is really frustrating. A good blog with interesting content, that is what I need. Thank you for keeping this site, I will be visiting it. Do you do newsletters? Can’t find it.
I couldn’t turn down commenting. Warmly written! https://aranitidine.com/fr/acheter-fildena/
More articles like this would remedy the blogosphere richer. https://ondactone.com/spironolactone/
Facts blog you have here.. It’s intricate to espy great quality writing like yours these days. I really appreciate individuals like you! Withstand mindfulness!!
order reglan 10mg for sale