Flirt with 3,000 dollars? It is not yet for today for the Crypto ETH. But the biggest blockchain in the world is not just a matter of price. Between technical indicators with green and renewed confidence of investors, Ethereum shows signs of resilience. However, the road to a real rebound remains strewn with pitfalls.
An encouraging signal for Ethereum
Have Ethereum news: would investors have finally taken their courage in both hands? More than $ 605 million from Ether have been removed from the Crypto exchanges Between February 8 and 9. An impressive figure: 224,410 ETH evaporated in 24 hours, the largest leak in the platforms in 23 months.
A phenomenon which, according to health, is ” A strong signal of confidence “, Because less eth in circulation means a reduced offer And, potentially, less panicked sales.
THE cryptocurrency data confirm the trend: the Ether ratio available on exchange platforms has never been so low, reaching 0.137. During this time, The accumulation-distribution indicator increases to 132.62 million unitsa sign of a renewed interest in this Altcoin.
In parallel, volatility is strengthening. The ETH course oscillates around $ 2,714 with a capitalization of 327 billionup 3 % over 24 hours.
The Bollinger strips indicate proximity to the median strip, revealing a possible start if the buying pressure is intensifying.
The price of ETH at the crossroads
The next step? Pierce the resistance of 2,850 dollars. If Ether succeeds, it could go for 2,975 dollars, or even $ 3,050.
A breakthrough motivated by the influx of recent capital: no less than 6 billion injected in one week, according to analyst Ali Martinez.
- Currently: $ 2,714;
- Key resistance: $ 2,850;
- Haussiers objectives: $ 2,975 then $ 3,050;
- Critical threshold: $ 2,660;
- Lower risk: $ 2,500.
But everything is not rosy in the land of Ether. The derivative market sends a careful message: the Taker Buy-Sell Ratio always indicates A selling domination. In other words, Traders still prefer to liquidate their positions that bet on the increase.
Ryan Lee, chief analyst at Bitget Research, explained the situation like this:
“” The drop in the volume of transactions on Ethereum can be awarded to a market correction after a significant drop in price and a reduction in leverages due to substantial outputs of derivative products. This scenario illustrates the cautious behavior of investors, who may expect more precise market signals. »»
And history tells us that The first quarter is often decisive For Ethereum. In 2017 and 2021, this period had marked its best performances. Will this year be an exception? Between accumulation, low availability on exchanges and a crypto market always dependent on bitcoin, the answer may be long in coming.
However, everything is not as optimistic. According to an analyst, Ethereum is currently experiencing a real descent into hell. The ETH, which is negotiating 45 % today below its historic 2021 summit, suffers from persistent inflation and internal tensions among its developers. Will the question that burns the lips: will the second largest crypto get up from this storm or will it slip even lower?
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