- ETH attempted a recovery, but a rally could be subdued amid evidence of low demand.
- Assessing the impact of surging exchange reserves and the state of exchange flows.
Ethereum [ETH] finally managed to recovery slightly from last week’s massive wave of sell pressure.
Although it has recovered slightly in the weekend, there are some signs suggesting that it might not be a smooth recovery this week.
After concluding September on a bearish leg, ETH sell pressure finally eased on Thursday after a 15% retracement.
This was followed by a bit of bullish momentum during the weekend, leading to a 7% recovery from last week’s lows.
ETH exchanged hands at $2477 at press time. Its price action notably respected an ascending short-term trend line highlighted in yellow. So far, the slight upside indicates that there was some accumulation.
Source: TradingView
At first glance, the weekend rally may seem like a healthy rally and a potential indication of more upside in the coming days.
However, ETH’s money flow indicator reverted to the downside in the last 24 hours, suggesting that liquidity could be flowing out of ETH.
Source: TradingVIew
The MFI suggests that the latest rally may be characterized by weak demand. This also means that ETHs potential upside might be limited.
However, this is subject to changes in supply-demand dynamics during the week.
Will low excitement for ETH hinder its upside?
The above findings align with the declining interest in Ethereum cryptocurrency. It may be a sign that ETH may not be the best option for those looking for maximum short-term gains.
On top of that, on-chain data also revealed a sharp uptick in ETH exchange reserves in the next few days. Such an outcome could be consistent with expectations of more sell pressure.
Source: CryptoQuant
But what do exchange flows reveal about the current situation? According to CryptoQuant, ETH’s exchange flows pivoted at the start of the month, leading to slower volumes.
For example, exchange inflows peaked at 621,000 ETH at the start of October while exchange outflows were slightly lower at $599,778 ETH.
Fast-forward to the present, and exchange inflows amounted to 86,173 ETH. Exchange outflows were higher at just over 120,000 ETH.
This means there was a net demand of 33,827 ETH, which was equivalent to $83.5 million worth of demand.
Source: CryptoQuant
Read Ethereum’s [ETH] Price Prediction 2024–2025
Based on the above data, we can conclude that ETH is experiencing some demand, but in relatively low quantity.
In other words, there was low excitement in the cryptocurrency and hence the potential for a subdued outcome.
- ETH attempted a recovery, but a rally could be subdued amid evidence of low demand.
- Assessing the impact of surging exchange reserves and the state of exchange flows.
Ethereum [ETH] finally managed to recovery slightly from last week’s massive wave of sell pressure.
Although it has recovered slightly in the weekend, there are some signs suggesting that it might not be a smooth recovery this week.
After concluding September on a bearish leg, ETH sell pressure finally eased on Thursday after a 15% retracement.
This was followed by a bit of bullish momentum during the weekend, leading to a 7% recovery from last week’s lows.
ETH exchanged hands at $2477 at press time. Its price action notably respected an ascending short-term trend line highlighted in yellow. So far, the slight upside indicates that there was some accumulation.
Source: TradingView
At first glance, the weekend rally may seem like a healthy rally and a potential indication of more upside in the coming days.
However, ETH’s money flow indicator reverted to the downside in the last 24 hours, suggesting that liquidity could be flowing out of ETH.
Source: TradingVIew
The MFI suggests that the latest rally may be characterized by weak demand. This also means that ETHs potential upside might be limited.
However, this is subject to changes in supply-demand dynamics during the week.
Will low excitement for ETH hinder its upside?
The above findings align with the declining interest in Ethereum cryptocurrency. It may be a sign that ETH may not be the best option for those looking for maximum short-term gains.
On top of that, on-chain data also revealed a sharp uptick in ETH exchange reserves in the next few days. Such an outcome could be consistent with expectations of more sell pressure.
Source: CryptoQuant
But what do exchange flows reveal about the current situation? According to CryptoQuant, ETH’s exchange flows pivoted at the start of the month, leading to slower volumes.
For example, exchange inflows peaked at 621,000 ETH at the start of October while exchange outflows were slightly lower at $599,778 ETH.
Fast-forward to the present, and exchange inflows amounted to 86,173 ETH. Exchange outflows were higher at just over 120,000 ETH.
This means there was a net demand of 33,827 ETH, which was equivalent to $83.5 million worth of demand.
Source: CryptoQuant
Read Ethereum’s [ETH] Price Prediction 2024–2025
Based on the above data, we can conclude that ETH is experiencing some demand, but in relatively low quantity.
In other words, there was low excitement in the cryptocurrency and hence the potential for a subdued outcome.
buy generic clomiphene tablets clomid for sale australia can you buy generic clomid without a prescription buy cheap clomiphene without dr prescription clomid contraindications clomiphene for sale uk order clomiphene without rx
This is a theme which is near to my heart… Numberless thanks! Unerringly where can I find the contact details due to the fact that questions?
I’ll certainly carry back to be familiar with more.
zithromax 500mg over the counter – buy flagyl generic buy generic flagyl 400mg
rybelsus 14 mg cost – purchase semaglutide generic cost cyproheptadine
order domperidone sale – flexeril drug buy cyclobenzaprine generic
amoxil tablet – purchase amoxil online order ipratropium 100mcg without prescription
order zithromax 250mg online – tinidazole ca order bystolic pills
cheap augmentin 625mg – atbioinfo.com ampicillin brand
buy nexium 20mg pill – nexium to us buy esomeprazole online cheap
coumadin 2mg brand – coumamide losartan brand
buy generic mobic – https://moboxsin.com/ order mobic 7.5mg without prescription
prednisone 5mg brand – https://apreplson.com/ generic deltasone 10mg
best ed pills online – fastedtotake.com pills for erection
amoxicillin tablets – combamoxi.com buy amoxil no prescription
fluconazole pills – https://gpdifluca.com/ how to get fluconazole without a prescription
order escitalopram 10mg sale – https://escitapro.com/# buy generic escitalopram for sale
order cenforce without prescription – cenforce rs purchase cenforce for sale
cialis and adderall – ciltad genesis evolution peptides tadalafil
cialis over the counter at walmart – does cialis shrink the prostate cialis sublingual
ranitidine pills – click purchase ranitidine online cheap
viagra for sale in the uk – https://strongvpls.com/# viagra sale online uk
This is the kind of glad I enjoy reading. buy nolvadex without prescription
Palatable blog you possess here.. It’s intricate to assign elevated calibre writing like yours these days. I truly appreciate individuals like you! Rent care!! https://buyfastonl.com/furosemide.html
More posts like this would force the blogosphere more useful. https://ursxdol.com/ventolin-albuterol/
With thanks. Loads of expertise! https://prohnrg.com/product/priligy-dapoxetine-pills/
More posts like this would prosper the blogosphere more useful. https://aranitidine.com/fr/en_ligne_kamagra/
This is the kind of literature I rightly appreciate. https://ondactone.com/product/domperidone/
More posts like this would prosper the blogosphere more useful.
levofloxacin 250mg cost
I am in point of fact delighted to coup d’oeil at this blog posts which consists of tons of profitable facts, thanks representing providing such data. http://sols9.com/batheo/Forum/User-Bwqkon