The price of ETHEREUM may be on the threshold of a strong upward outbreak this week despite the weak scales on the chain. ETH TOKEN was trading at $ 2645 on Wednesday, an increase of more than 91 % of the lowest point this year. This article provides an analysis of the series and what can be expected.
Ethereum analysis on the series
Third party data sends mixed signals about the price of ETHEREUM with its continued unification. Santiment shows that whales began to surrender after the last boom.
These investors now carry 103.48 million ETH currencies, a decrease from an increase of 103.75 million this month, which means that they have sold 270,000 coins currently estimated at more than $ 711 million in the past few days.
More data shows that the open interest of Ethereum has begun to decline after reaching the highest level in several months of $ 11.2 billion on May 26. It has decreased to $ 10.78 billion today, a sign that the demand for futures market is declining.
Other data shows that Ethereum has decreased sharply in the past few days. The average fees decreased to $ 0.324, down from this month’s rise of $ 0.97.
Fall fees show that the network is not active. On the positive side, this performance may push more investors to Mainnet from Ethereum of Layer-2 networks.
The decrease fees led to a decrease in the rate of burning Ethereum. The total burnt fees on the network fell to less than $ 3,000 on Wednesday, a decrease from the highest level in this month of $ 100,000.
Other data related to prominent fees is that the rent paid by the Layer-2 networks that you pay to Ethereum has decreased. The base of $ 124,000 was paid at the last 30 days, and 52 % drowned from the previous period. Likewise, the first definition and optimism paid 41 thousand dollars and 14 thousand dollars, respectively.
Read more: Predicting ETHEREUM Prices: Will Eth Roar come back after upgrade Pectra?
Ethereum request rises
There are signs of high demand for Ethereum coins. Sosovalue data reveals that Spot Ethereum ETFS added $ 38 million flows on Tuesday, making the seventh consecutive day of flows. She had flows in the past three weeks in a row, up to total flows to $ 2.8 billion.
Blackrock ETF is advancing at $ 3.6 billion in assets, followed by Ramadi boxes at $ 3 billion and $ 1.3 billion, respectively.
The demand for ethereum etfs is weaker than the Bitcoin special, whose money has accumulated more than $ 43 billion of assets.
more Data It appears that the total closed value (TVL) in the ETHEREUM series continued to rise. She now has $ 134 billion of assets, with Lido, Ave, eignlayer and ether.fi being the largest player. This amount rose to 50.3 million ETH terms, up from 45 million in January.
Total stablecoins on the network jump To a record level of $ 122 billion, with Tether 62 billion dollars and the US currency with $ 36 billion. The most important Stablecoins on Ethereum is Ethena USDE, Dai and Sky Dollar.
Predicting ETHEREUM price
The basics send a mixed image of the Ethereum network. The daily graph shows that the currency hovers at the REERARATED level 38.2 % Fibonacci. It slowly constitutes the style of the bullish science scheme, and it is a sign of continued difficult difficulty in technical analysis.
Price ethereum moved higher than 50 days and 200 days (EMA). The averages can form a gold intersection style in the coming days or weeks if the price of the ETH rises.
The most likely scenario is the place where the price of ETH has an upward outbreak and jumps to the resistance point at $ 3000. Step higher than this level will indicate more gains, and perhaps to a 61.8 % alternative at $ 3,055.
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