Reason to trust
Editorial policy rejection that focuses on precision, relevance and impartiality
Created by experts in the sector and meticulously revised
The highest standards of reporting and publishing
Editorial policy rejection that focuses on precision, relevance and impartiality
Pretium leo et nisl alquam mollis measles. Quisque Arcu Lorem, ultricies quis pellesque nec, ullamcorper eu hate.
Este Artículo También Está available en español.
Even with the price of Ethereum struggling in the midst of the market recession, there are still some that remain upward in the second largest cryptocurrency by market capitalization. One of these is the cryptocurrency analyst pseudonym notwojak, who went to the tradingview website to share a rather bullish prediction for the price of Ethereum which is against the current feeling of the market.
Reference Ethereum price at the end of the trend
The price of Ethereum is still blocked in an apparent downward trend. However, according to Crypto’s analyst, this could end soon with two areas of incoming supply. So far, there have been more liquidity Sweep among the main levels, sending the price of Ethereum to lower minimums. However, this could become bullish as soon as they may suggest that an inversion is coming for the cryptocurrency.
Reading Reading
Currently, the two supply areas called by the analyst are the level of $ 1,425 and $ 1,600. As they explain, the level of $ 1,425 has already been mitigated during the last retracement. So this leaves only the level of $ 1,600 not mitigated. Therefore, this could easily transform this level into resistance in the event of an upward trend.
Although the sellers still dominate with high volumes that pour on the market, the Crypto analyst puts the bottom before $ 1,350. In this case, this level could be a potential support and the breakout could start from here.
The goal for this important Breakout was positioned 20% above the current level, with the analyst setting a high $ 1,835 goal. This could lead to a further rise, especially if resistances are easily eliminated from here.
Eth On-Chain
Ethereum’s profitability has collapsed with the drop in prices since only 32% of all investors are witnessing any profit on their positions. On the other hand, 65% of all owners are in losses and only 2% are sitting at relatives prices, according to data from the data aggregation website on chain, Intatheblock.
Reading Reading
The Ethereum whales were also very active during this period and this could mean that the great investors were behind the sales that crashed the ETH price. Large transactions increased from $ 4.8 billion to $ 6.48 billion by April 9 when the Ethernet price fell below $ 1,500.
The average dimension of the transaction has also grown now from $ 4,048 to $ 5,415. This suggests that investors are moving more coins at the time, which could explain the increase in sales that has afflicted cryptocurrency. If this continues, the Eth price could see further arrests from here.
At the time of writing, the Ethereum price was a tendency to $ 1,544, down 4.56% in the last day.
First floor image from Dall.e, tradingView.com graphic