The feelings of investors and their confidence in ethereumIt seems that the second largest digital asset improves despite the recent disturbing market developments that hindered market dynamics. The main standards show a great accumulation of ETH, which reflects its location as a leading origin in the ongoing cycle.
Market trends change with a decrease in Ethereum CBD?
Market dynamics in Ethereum are currently turning even with asset price conflicts to recover decisive resistance levels. Driving data analysis on the series and the financial platform It indicates A declining direction in the ETHEREUM cost scale (CBD) amid the volatile market performance.
The decrease in cost basis distribution often indicates a wider change in market dynamics or high sale pressure. However, this is not the case for ETH now.
According to the platform on the series, the main measure shows that many cost rules have decreased, indicating that investors accumulate ETH with low prices. The main support for the accumulation area is at the level of $ 2,632, while the resistance is in The level of $ 3,149.
Glassnode data reveals that more than 786,660 ETH has been purchased by investors in the support zone of $ 2632. Meanwhile, more than 1.2 million ETH was obtained by investors in the resistance area of $ 3,149. This is amazing Tremendous accumulation It reflects the strong feelings of investors and confidence in the future performance of Ethereum.
Glassnode noted that investors are the average and purchase of ETH at low prices instead of selling their coins completely and leaving the positions. Moreover, long -term condemnation is reflected on the basis of low cost, and a similar trend has been observed at $ MKR.
Since Ethereum prices face increasing fluctuations, watching this trend is crucial because it may affect Altcoin’s path in the coming weeks. During these unspecified periods, a large part of ETH was seen leaving cryptocurrencies.
During the weekend, Kyle Dooops I mentioned There is a significant flow of ETH, as Netflow has decreased on the derived exchanges to less than 400,000 ETH. The number of clear flows is one of the largest in modern history.
These large raffles usually indicate a possible upward change in the foreground and reduce the pressure pressure. with altcoin Trading below $ 2800, Kyle Dooops confirmed that the market players may prepare for an upward movement while they are waiting for a change in the feeling.
Collect to the highest new level ever for ETH
After a long period of weakness, Eth You may be ready for a large crowd to the highest new level ever in the following weeks. Market technician Jonathan Carter Expected Height to new levels due to a huge upward triangle style on the weekly graph.
ETHEREUM maintains its location above the multi -year trend line and MA 100 days as it tries to refrain from supporting the rising triangle. Carter expects the upward momentum to pay the price of ETH towards The following goals Like $ 3,200, $ 4000, $ 4,850, $ 6000, and 7500 dollars.
Distinctive image from Unsplash, Chart from TradingView.com
