Yesterday, Bitcoin and Ethereum tried to outperform the top, but the bears absorbed the movement immediately and paid the encryption price. Currently, the market appears to be in a stage of recession, unable to interact with positive and besieged stimuli within a dangerous decline plan style.
What do you expect now? Let’s go deep into the situation in this article.
Bitcoin risk testing $ 92,000 if it does not interact now, Ethereum loses power
Bitcoin’s price seems to be trapped for several weeks now within a large It ranges between 95,000 and 105,000 dollarsBut soon this structure can be solved with a declining drop. Yesterday, the orange cryptocurrency tried to lead to a small gathering of more than $ 97,000, but the bear’s reaction was immediately on the moving average 99 in the time frame of the hour. This is another harsh blow against Bitcoin, which represents a Disappointment performance by -9 % at the last 30 days.
Now analysts are wondering whether the asset is unable to find a new bullish driver will turn into a decline. On the daily chart, Bitcoin offers a technical structure on the edge, where the rapid averages cross down to the formation of A. “The Cross of Death whirlpool. These price patterns usually end with the leg down, which represents the beginning of the narrow direction phase for a period or less. If Bitcoin does not carry the current support of $ 95,000, It can turn easily to $ 92,000Where there is another solid area of buyers
According to the merchants “Firechars“The encrypted currency clearly shows an interest in hunting for new liquidity at low price levels. After monitoring the BTC-Us chart on Binance, we notice that it is less than $ 95,000, there is a clear line of supply interest, highlighted by a Reducing purchase orders in the request book. In particular, only retail investors remained on the market during the weekend, while whales showed lack of attention.
Meanwhile, according to the data derived from CoinglassBitcoin does not show signs of recovery, with open attention in the waiver stage and the remaining financing rate is flat less than 0.01 %. With regard to the options market, on Defibit measuresWe note a strong “mode” component for the end of February 28, with bears targeting price areas between 70,000 and 90,000 dollars. However, at the same time, for the end of March 5, the situation appears to be more deviating for the “call” contracts.
Ethereum tries to restart in the wake of the sudden increase of gas, but it is immediately rejected
Not only Bitcoin, Ethereum also tried to make an outbreak yesterday, Without being able to bring its price higher than the critical levels of bears. For only a few minutes, the second cryptocurrency in the market managed to reach a threshold of $ 2,850, on the occasion The profit during the day by 7 %, which evaporates in the following hours. In the end, Ether closed today with $ 2740, with traders after the movement with a follow -up of the offer.
When analyzing ethereum network data, we note that yesterday’s bull incentive occurred along with the GWEI price increased. It seems that the semi -continuous memecoin project, known as Wall Street Pepe, has attracted a great activity on Blockchain. Within a few minutes, the committee fees increased from 0.70 to $ 70, accompanied by the encrypted currency. However, the gains disappeared quickly when expenses He returned to normal levels, immediately inhibiting the optimism of investors.
Closely, we can notice how the noise phase occurred between 14:00 and 16:00 World Time time, while claiming the SHITCOIN race above was ongoing.
One title contributed to the creation of congestion on ETHEREUM with about 190 ETH from the gas spent, That is, equivalent to $ 520,000. Network activity peaks are usually associated with bull price movements, as this means strong interest in the market and increasing demand. This can result from a wave of new investors, increased use of Defi applications, NFT mutation, or important market events.
The future of the ETHEREUM price between the Pectra and ETF update and the data on the series
Apparently, by monitoring data on the chain, we notice how the brief orgasm of the ethereum ecosarum has faded quickly. Futures installments are traded by 6 %, while maintaining a balance within the ecclesiastical level 5-10 %, without any special positive effect. However, at the same time, the open interest in encryption in the derived markets has increased more compared to the standard bitcoin, and perhaps a sign The moment of attention turned Between the assets.
In the coming months, the ETHEREUM price can be affected by several factors.
Certainly, one of them is the long -awaited update, which is expected to double the capacity of the point for calm, which allows this Cheaper and fastest layer transactions 2. In addition, the proposed changes include the introduction of transactions “without gas”, which can be sponsored by third parties. This must be technically improved by ETHEREUM, which increases the perception of the fundamental value of technology in the eyes of investors.
Another factor is represented that will be decisive for the short -term success of ETHEREUM price by Wall Street’s investment funds. The Securities and Stock Exchange Committee is currently under approval Which will allow investors to gain a return on their position. Recently, the CBOE BZX Exchange submitted a request to the US Organizational Authority to amend the 21shares Core ethereum etf, in order to include this new job.
If approved, the investment funds traded in excitement can provide this missing suspense of the ETHEREUM price, which creates a new excuse to increase demand in the market.
