Whale Watch: Ethereum Fresh Buy Signal Sparks Speculation

2024-5-17 21:00

The Ethereum market has been a whirlwind of activity in recent days. After a brutal price correction last week, the world’s second-largest cryptocurrency by market capitalization has staged a mini-rebound, leaving investors wondering if this is the start of a sustained bull run or a fleeting flicker before another dip.

Ethereum Rallies, But Questions Linger

Ethereum (ETH) surged 3.7% in the last 24 hours, buoyed by a general uptick in the crypto market. This positive movement comes after a significant price drop that saw ETH fall to $2,850. The recent rise has sparked optimism among some analysts, with popular crypto figure Ali calling for a potential “one to four candlestick rebound” based on a buy signal he identified on ETH’s chart.

The TD Sequential presents a buy signal on the #Ethereum daily chart! It anticipates that $ETH could see a rebound of one to four candlesticks. pic.twitter.com/Vg7FTl9X2a

— Ali (@ali_charts) May 15, 2024

However, not everyone is convinced. A closer look at on-chain data reveals some conflicting signals. CryptoQuant’s data shows a sharp rise in ETH’s exchange reserves over the past few days, suggesting that investors might be offloading their holdings rather than accumulating.

This is further supported by Santiment’s data, which indicates an increase in ETH’s supply on exchanges over the past week.

The behavior of large investors, often referred to as “whales,” also paints an unclear picture. While Ethereum’s supply held by top addresses remained flat, suggesting whales haven’t made any significant moves, this could be interpreted in two ways.

Some believe it indicates a wait-and-see approach from whales, anticipating a potential market top before re-entering.

Undervaluation Hints At Potential Growth

Despite the mixed signals, some metrics point towards a potential price increase for ETH. The token’s Network To Value (NVT) ratio, as analyzed by Glassnode, has declined significantly over the past week.

Market Sentiment, Technical Indicators Send Conflicting Messages

Meanwhile, adding another layer of complexity to the prediction puzzle is the current market sentiment surrounding ETH. While some analysts are turning bullish, evidenced by the rise in ETH’s weighted sentiment on social media platforms, technical indicators paint a less clear picture.

The Relative Strength Index (RSI) and Money Flow Index (MFI) have both dipped recently, potentially suggesting a loss of momentum in the recent upswing. The Moving Average Convergence Divergence (MACD) indicator, however, has presented a bullish crossover, hinting at a potential continuation of the uptrend.

A Potential Bull Run For Ether

While the recent price increase and some on-chain metrics suggest a potential bull run for Ethereum, the conflicting signals from exchange reserves, whale behavior, and technical indicators make it difficult to predict with certainty.

Featured image from Popular Mechanics, chart from TradingView

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Market.space (MASP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MASP

market ethereum wondering investors capitalization staged mini-rebound

Источник: newsbtc.com

market ethereum → Результатов: 126


Ethereum breaks $2,000 as Shanghai upgrade completes, leads crypto market

Key Takeaways 15% of the ETH supply had been locked until the Shanghai upgrade completed Thursday There was no extra selling pressure, however, with ETH leading the crypto market, up 4.6% today ETH has broken through the $2,000 barrier for the first time since May 2022 Ethereum stakers woke up for the first time in […] The post Ethereum breaks $2,000 as Shanghai upgrade completes, leads crypto market appeared first on CoinJournal.

2023-4-13 18:39


Ethereum Price Holds Above $1,500 Amid Crypto Market Retrace

Cryptocurrency markets are slowing down after an incredible bull run last week. Ethereum surged past $1,600 on Friday, with its 24-hour trading volume surpassing Bitcoin’s. Even with the global cryptocurrency markets losing momentum, ETH is managing to hold above the $1,500 level, with a current market capitalization of $185 billion, which could soon approach 50% […] The post Ethereum Price Holds Above $1,500 Amid Crypto Market Retrace appeared first on NullTX.

2022-7-23 17:11


Фото:

Bloomberg Analysts Cite ‘Bullish Implications’ For Bitcoin and Ethereum as Markets See Meteoric Upsurge

Key Takeaways  Bloomberg is most bullish for Bitcoin and Ethereum. Their overall market utility is cited as a driving factor. Ethereum remains a key beneficiary of the increased use of stablecoins  The cryptocurrency market took a hit early this year, but the coming months might lead the market toward the light at the end of […]

2022-2-15 14:46


Ethereum: Similarities with 2018's market structure might foreshadow this 'worst-case scenario'

Market sentiment across the month of August has been largely bullish. Especially since some crypto-assets recovered significantly to touch their ATH levels once again. Ethereum hasn't been one of thosThe post Ethereum: Similarities with 2018's market structure might foreshadow this 'worst-case scenario' appeared first on AMBCrypto.

2021-8-31 17:00


Ethereum’s Rebound is “Getting Tired” as Analyst Eyes Move to $520

Ethereum has been climbing higher today alongside Bitcoin and the rest of the crypto market The strength seen as of late comes as Bitcoin puts some serious distance between its recent lows and its current price levels This indicates that bulls are in full control and are looking to form a “V-shaped” recovery that could allow for significantly further upside in the days and weeks ahead Where the entire market trends next will depend largely […]

2020-11-30 22:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ethereum Investors Take On Sky-High Leverage: Brace For Volatile Storm?

Data shows the investors in the Ethereum derivatives market have been taking on very high leverage recently, something that could lead to volatility for the asset. Ethereum Estimated Leverage Ratio Has Been At Extreme Levels Recently As pointed out by an analyst in a CryptoQuant Quicktake post, the ETH Estimated Leverage Ratio has been on the up recently.

Altcoin Season Soon? Quant Says This Ethereum Pattern Could Suggest So

A quant has explained how a pattern currently forming in the Ethereum Open Interest could imply the altcoin season is coming “sooner than expected. ” Altcoin Season May Be Approaching Soon Based On Ethereum Pattern In a CryptoQuant Quicktake post, an analyst has discussed about why an altcoin season may be coming soon for the cryptocurrency sector, based on a trend taking place in a couple of Ethereum and Bitcoin indicators.

Ethereum To See Fresh Move Soon? What Futures Data Says

Data shows the Ethereum Open Interest has been trading at relatively low levels recently. Here’s what this could mean for the asset’s price. Ethereum Open Interest Has Been Moving Sideways Since Its Plunge As explained by an analyst in a CryptoQuant Quicktake post, the ETH Open Interest has followed a similar trajectory as the price of the cryptocurrency recently.

Ethereum Fees Now Lowest Since January: Is It A Bottom Signal?

On-chain data shows that Ethereum transaction fees have dropped to their lowest level since January, a sign that a bottom could be close. Ethereum Transfer Fees Has Plunged As Network Has Gone Cold According to data from the on-chain analytics firm Santiment, Ethereum transaction fees have taken a notable hit recently.