Ethereum (ETH) shows mixed signals, being near an important technical zone. Traders closely monitor a possible breakthrough or fall
We figure out what is happening on the Ethereum (ETH) market and what to expect from the price of cryptocurrency.
Bbtrend has become bull
BBTREND EThereum has increased sharply to 4.99 over the past few hours after yesterday’s negative peak -3. This sudden shift indicates a possible transition from bear mood to bull, since the trend strength has become positive and approaches the upper threshold, which usually signals a breakthrough.
The indicator of about 4.99 indicates a strong bull impulse. If this trend continues or intensifies, this can signal the further growth of ETH, since traders see this a change in market moods and positions.
The number of ETH whales is reduced for 7 consecutive days
The number of large Ethereum holders – wallets from 1,000 to 10,000 ETH – decreased to 5,378, compared with 5,427 ten days ago and 5,400 three days ago. The decrease lasts the last week and can signal the caution of large investors.
Whales often evaluate the mood of institutional or wealthy investors, and their steady reduction usually indicates a fixation of profit, reducing risks or reducing confidence in short -term price dynamics.
This behavior of large investors can weaken the price and increase volatility. If the number of whales continues to decrease, this can put pressure on the ETH reduction and increase the risk of a market rollback.
Ethereum is approaching critical support
Ethereum was recently unable to overcome the resistance of about $ 2,900 and now moves down, approaching the key support by $ 2,679. If this level does not hold, the next reduction goals will be $ 2,479 and, possibly, $ 2,326, especially if the bear impulse intensifies. A breakdown below them can change the short -term market structure and increase the pressure on the sale.
On the other hand, the BBTREND indicator showed a strong bull -free U -turn, which indicates a possible strengthening of purchasing pressure. If Ethereum restores the impulse and tries to resist $ 2,900, this can lead to a rally up to $ 3,000 – a level that was not observed since February 1.
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Source: Cryptocurrency
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