Launch Date Bloomberg analysts Eric Balchunas and James Seyffart predict that Spot Ethereum ETFs will begin trading on July 2nd. The Securities and Exchange Commission (SEC) has reportedly sent fund issuers comments on their S-1 filings, which are said to be minor. Fund issuers are expected to file amended registrations within a week. Impact on…
Surge in Demand from Permanent Holders Despite Ethereum’s recent dip, on-chain data shows a bullish picture. Permanent holders, likely institutions, have been buying heavily. On June 12, they purchased 298,000 ETH, the second-highest daily purchase on record. Institutional Positioning This surge in demand suggests that institutions may be positioning themselves in the market. They are…
Ethereum has witnessed significant withdrawals from centralized exchanges, indicating that investors anticipate a price surge. Exchange Balances Plummet Crypto analyst Ash Crypto observed a notable increase in ETH withdrawals, leading to the highest withdrawal trend of 2024. Coinbase, the largest US crypto exchange, experienced a massive withdrawal of 336,000 ETH within 48 hours. Overall, the…
Price Movement Ethereum failed to break above $3,650 resistance and has declined below $3,550. The price is now trading below $3,550 and the 100-hour Simple Moving Average. A bearish trend line is forming with resistance near $3,650. Possible Scenarios Bullish: If Ethereum breaks above $3,650, it could rise to $3,720, $3,820, and potentially $4,000. Bearish:…
Market Sentiment and Technical Indicators Data from CryptoQuant shows that Ethereum (ETH) is in a bearish phase, with futures traders aggressively selling. The Taker Buy Sell Ratio, which measures the balance between buying and selling, has dropped below 1, indicating that sellers are in control. Implications for ETH’s Price This bearish trend suggests that Ethereum’s…
Institutional Accumulation Institutional investors are piling up Ethereum, thanks to the SEC’s approval of Spot Ethereum ETFs. This buying frenzy has created significant pressure that could propel Ethereum past the $4,000 mark. Whale Activity The number of Ethereum addresses holding over 10,000 ETH has jumped 3% in the past three weeks. This surge in large…
Ethereum’s price took a hit after failing to break through the $3,720 mark. It’s now hovering around $3,550, with further losses likely. Resistance at $3,720 Ethereum tried to climb above $3,650 but faced resistance from sellers. The price reached $3,710 before dropping sharply. Support at $3,550 If Ethereum can’t regain $3,650, it could continue to…
Ethereum (ETH) has been on a rollercoaster ride, dropping to $3,580 and then recovering. But now, it faces some tough hurdles. Resistance at $3,740 ETH is currently trading below $3,740 and the 100-hour moving average. A key bearish trend line is also forming at $3,740. If ETH can’t break through these levels, it could continue…
Inflows and Market Enthusiasm Ethereum has seen a surge in inflows and renewed market enthusiasm after the SEC approved Ethereum ETF applications. This follows a recent price spike that brought Ethereum close to $4,000. Best Week for Ethereum Since March According to CoinShares, digital asset investment products have experienced $2 billion in inflows, with Ethereum…
Ethereum (ETH), the second-largest cryptocurrency, has recently dropped below its 4-hour Simple Moving Average (SMA). This technical indicator is used to gauge short-term market momentum. When a cryptocurrency’s price falls below this average, it can signal a potential shift towards a bearish market. Technical Indicators 4-Hour Chart: ETH’s price has fallen below the 100-day SMA,…
