- ETH has surged by 9.03% over the last seven days.
- An analyst eyes further gains if $2200 support level holds.
Ethereum [ETH] has recently experienced a strong recovery in its price, trading at $2553 at press time.
This marked a 5.25% increase over the past 24 hours, thus completing a week-long upsurge. As such, on weekly charts, the altcoin has surged by 9.03%.
Prior to these gains, Ethereum had been on a downtrend, reaching a low of $2251 last week.
Despite the recent surge, Ethereum’s price has remained considerably below its March high of $4070. Equally, it still remains down by 47.9% from its all-time high of $4878.
Therefore, the current market conditions raise questions about the sustainability of the recovery. Inasmuch, popular crypto analyst Ali Martinez suggested a potential rebound if the $2200 support level holds
What market sentiment says
According to Martinez, the TD Sequential was flashing “buy” on Ethereum’s weekly charts at press time.
Source: X
This suggested that markets have a strong potential for a strong rebound if ETH’s prices hold above the $2200 support level.
In context, TD Sequential helps to identify trend exhaustion and Potential reversal points. Thus, a buy signal on the TD Sequential suggests that the downtrend is losing strength, indicating a potential reversal to the upside.
Therefore, based on weekly charts, ETH may see a sustained rally rather than a short-term bounce.
ETH looks favorable
According to AMBCrypto’s analysis, ETH was experiencing a strong upward momentum on weekly charts. This was a result of favorable market conditions that positioned the altcoin for further gains.
Source: Coinglass
For starters, Ethereum’s OI-Weighted Funding Rate has remained for the past 4 days.
Usually, a positive OI-Weighted Funding Rate indicates a significant volume of open interest is associated with investors taking long positions.
A high Open Interest combined with a positive Funding Rate suggests that investors are using leverage to bet on price increases, thus indicating confidence in upward movement.
This is a bullish sentiment, with long position holders paying short position holders.
Source: Santiment
Additionally, Ethereum’s Funding Rate Aggregated by Exchange has been positive for the last three days. This further supported AMBCrypto’s previous observation regarding a higher demand for long positions than short.
Source: IntoTheBlock
Finally, Ethereum’s large holder netflow has remained positive most of the week, only turning negative once on the 14th of September.
Read Ethereum’s [ETH] Price Prediction 2024–2025
Thus, for the last six days, ETH has enjoyed more inflow from large holders than outflow. This indicated that large holders were accumulating, signaling confidence in the asset’s future value.
To sum up, Ethereum is enjoying positive market sentiment. If these conditions are maintained, ETH will challenge the next resistance level around $2810 that has proven stubborn in the past.
- ETH has surged by 9.03% over the last seven days.
- An analyst eyes further gains if $2200 support level holds.
Ethereum [ETH] has recently experienced a strong recovery in its price, trading at $2553 at press time.
This marked a 5.25% increase over the past 24 hours, thus completing a week-long upsurge. As such, on weekly charts, the altcoin has surged by 9.03%.
Prior to these gains, Ethereum had been on a downtrend, reaching a low of $2251 last week.
Despite the recent surge, Ethereum’s price has remained considerably below its March high of $4070. Equally, it still remains down by 47.9% from its all-time high of $4878.
Therefore, the current market conditions raise questions about the sustainability of the recovery. Inasmuch, popular crypto analyst Ali Martinez suggested a potential rebound if the $2200 support level holds
What market sentiment says
According to Martinez, the TD Sequential was flashing “buy” on Ethereum’s weekly charts at press time.
Source: X
This suggested that markets have a strong potential for a strong rebound if ETH’s prices hold above the $2200 support level.
In context, TD Sequential helps to identify trend exhaustion and Potential reversal points. Thus, a buy signal on the TD Sequential suggests that the downtrend is losing strength, indicating a potential reversal to the upside.
Therefore, based on weekly charts, ETH may see a sustained rally rather than a short-term bounce.
ETH looks favorable
According to AMBCrypto’s analysis, ETH was experiencing a strong upward momentum on weekly charts. This was a result of favorable market conditions that positioned the altcoin for further gains.
Source: Coinglass
For starters, Ethereum’s OI-Weighted Funding Rate has remained for the past 4 days.
Usually, a positive OI-Weighted Funding Rate indicates a significant volume of open interest is associated with investors taking long positions.
A high Open Interest combined with a positive Funding Rate suggests that investors are using leverage to bet on price increases, thus indicating confidence in upward movement.
This is a bullish sentiment, with long position holders paying short position holders.
Source: Santiment
Additionally, Ethereum’s Funding Rate Aggregated by Exchange has been positive for the last three days. This further supported AMBCrypto’s previous observation regarding a higher demand for long positions than short.
Source: IntoTheBlock
Finally, Ethereum’s large holder netflow has remained positive most of the week, only turning negative once on the 14th of September.
Read Ethereum’s [ETH] Price Prediction 2024–2025
Thus, for the last six days, ETH has enjoyed more inflow from large holders than outflow. This indicated that large holders were accumulating, signaling confidence in the asset’s future value.
To sum up, Ethereum is enjoying positive market sentiment. If these conditions are maintained, ETH will challenge the next resistance level around $2810 that has proven stubborn in the past.
Mahjong ways 2 merupakan situs slot gacor dengan fitur scatter hitam winrate kemenangan tinggi. Daftar dan nikmati fitur jackpot terbesar hari ini!
This design is incredible! You certainly know how to keep a reader amused. Between your wit and your videos, I was almost moved to start my own blog (well, almost…HaHa!) Fantastic job. I really loved what you had to say, and more than that, how you presented it. Too cool!
so much wonderful info on here, : D.
I think this site has some rattling excellent information for everyone : D.
Excellent site. Plenty of useful information here. I am sending it to several friends ans also sharing in delicious. And certainly, thanks for your sweat!
where can i get generic clomid tablets how to buy clomiphene no prescription where to get generic clomid no prescription where can i buy cheap clomiphene without dr prescription can you buy clomid without a prescription how to buy cheap clomid no prescription cost cheap clomid without a prescription
Thanks an eye to sharing. It’s outstrip quality.
More peace pieces like this would insinuate the интернет better.
azithromycin 250mg brand – purchase tinidazole online generic flagyl
order semaglutide generic – semaglutide online cyproheptadine 4mg sale
I beloved up to you’ll receive performed right here. The cartoon is attractive, your authored material stylish. nevertheless, you command get bought an edginess over that you wish be handing over the following. in poor health without a doubt come more formerly once more as precisely the same nearly very regularly within case you shield this hike.
order domperidone 10mg pills – purchase motilium online cheap flexeril 15mg over the counter
inderal 10mg drug – cheap propranolol order methotrexate 10mg generic
cheap amoxicillin without prescription – combivent 100mcg ca ipratropium drug
cost azithromycin – tindamax 300mg price how to get nebivolol without a prescription
where to buy nexium without a prescription – anexamate order esomeprazole online cheap
medex price – anticoagulant buy losartan 25mg for sale
Very interesting info!Perfect just what I was searching for!
mobic where to buy – https://moboxsin.com/ buy generic meloxicam 7.5mg
buy deltasone 10mg sale – corticosteroid deltasone 10mg for sale
buy ed pills online usa – buy ed pills tablets best ed pills non prescription uk
order amoxil sale – https://combamoxi.com/ order amoxil online
buy fluconazole 100mg generic – https://gpdifluca.com/# forcan drug
purchase lexapro – https://escitapro.com/# buy lexapro 20mg generic
cenforce 100mg price – https://cenforcers.com/# buy cenforce cheap
cialis delivery held at customs – https://strongtadafl.com/ where can i buy cialis over the counter
cost ranitidine 150mg – buy zantac 150mg generic buy ranitidine 150mg generic
order viagra pills online – https://strongvpls.com/# viagra vs cialis
The vividness in this piece is exceptional. https://buyfastonl.com/furosemide.html
This website absolutely has all of the low-down and facts I needed to this subject and didn’t positive who to ask. https://gnolvade.com/
This website absolutely has all of the information and facts I needed there this thesis and didn’t know who to ask. https://ursxdol.com/propecia-tablets-online/
This website really has all of the bumf and facts I needed adjacent to this thesis and didn’t identify who to ask. https://prohnrg.com/product/acyclovir-pills/
Terrific post however , I was wanting to know if you could write a litte more on this topic? I’d be very grateful if you could elaborate a little bit further. Bless you!
More articles like this would make the blogosphere richer. https://aranitidine.com/fr/ivermectine-en-france/
I am in fact delighted to coup d’oeil at this blog posts which consists of tons of of use facts, thanks for providing such data. https://ondactone.com/product/domperidone/
Greetings! Very gainful advice within this article! It’s the crumb changes which choice obtain the largest changes. Thanks a portion in the direction of sharing!
https://proisotrepl.com/product/clopidogrel/
Hello my loved one! I want to say that this post is amazing, nice written and include almost all important infos. I’d like to look more posts like this.
Hey there, I think your website might be having browser compatibility issues. When I look at your website in Ie, it looks fine but when opening in Internet Explorer, it has some overlapping. I just wanted to give you a quick heads up! Other then that, awesome blog!
Greetings! Very helpful advice on this article! It is the little changes that make the biggest changes. Thanks a lot for sharing!
Proof blog you procure here.. It’s obdurate to on great status belles-lettres like yours these days. I truly respect individuals like you! Rent mindfulness!! https://experthax.com/forum/member.php?action=profile&uid=124577
of course like your web site however you need to test the spelling on several of your posts. Many of them are rife with spelling problems and I find it very bothersome to inform the reality then again I?¦ll definitely come again again.
Hi my friend! I want to say that this post is awesome, nice written and come with approximately all vital infos. I’d like to look extra posts like this.
buy dapagliflozin 10 mg without prescription – forxiga tablet forxiga cost
Hi there! This post couldn’t be written any better! Reading through this post reminds me of my previous room mate! He always kept talking about this. I will forward this article to him. Pretty sure he will have a good read. Thank you for sharing!
orlistat order – https://asacostat.com/ purchase orlistat online cheap
Thank you for the sensible critique. Me and my neighbor were just preparing to do a little research on this. We got a grab a book from our area library but I think I learned more from this post. I am very glad to see such wonderful info being shared freely out there.