- Bbtrend rises to 4.99 from -3, which indicates
- The number of the whale decreased to 5,378 for the seventh day in a row, indicating the weakening of the institutional interest
Ethereum faces conflicting technical signals as the cryptocurrency is hovering in a critical price area between the resistance at $ 2900 and support at $ 2,679. A day after hit -3, the BBTRand index turned significantly, rising to 4.99, indicating an increase in the upscale momentum, which may provide a possible reflection from the recent downward conditions to the most positive market procedures.
However, this artistic optimism contradicts the decrease in whale activity, which lasted for seven consecutive days as adult holders continue to reduce positions or refrain from accumulation.
From 5,427 ten days ago to 5400 three days ago, the number of ether whales decreased with 1,000-10,000 ETH to 5,378. This indicates that investors of high and institutional value may lose confidence in the encrypted currency.
Eth Bbtrend reflection
The BBTREND index, which measures the strength of the direction for Bollinger, provides encouraging signals of ETHEREUM. Values are higher than zero to upward momentum while readings below zero suggest a declining pressure.
The current current reading of 4.99 indicates a strong bullish momentum that, if sustainable, can push alongside more upward trend as traders explain the transformation as changing market morale.
This artistic development occurs with Ethereum approaching the upper threshold that usually indicates hacking scenarios. The transition from the negative BBTRand readings indicates strongly that the basic purchase pressure may be based on the unification of the last prices near the resistance levels.
The whale behavior continues to create anxiety on Ethereum horizons in the short term. These large addresses have a great impact on the market through their commercial decisions, which makes their collective behavior necessary to guide the price.
Increases in whale numbers usually indicate accumulation and strong faith in future expansion, while fixed losses, such as the current style, indicate the achievement of profits or the loss of faith.
The current position of Ethereum near the support of $ 2,679 creates a decisive test ground for the artistic structure of the encrypted currency. Failure to maintain this level can lead to movements about $ 2,479 and possibly $ 2,326, especially if the declining momentum is accelerating. These negative goals indicate a shift in the short -term market structure and can generate additional sale pressure.
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