61% Of Ethereum Holders Are Profitable But ETH Bulls Must Hold $2,290
Ethereum is wavy when writing as bulls struggle to build momentum and push the coin above the immediate resistance levels at around $2,400 and $2,800. Even so, most ETH holders are upbeat, expecting prices to turn around the corner and soar, even breaking above July highs of around $3,500. 61% Of ETH Holders In The Money Amid this development and the general lull, IntoTheBlock data shows that 61% of all ETH holders are in the money. That over 50% of all ETH holders are in green despite the coin shedding nearly 35% from July highs and nearly 45% from 2024 highs points to resilience,....
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Ethereum is currently fortifying at a point which is profitable for the bulls. Will there be a turn to decline? Will the bears hold the advantage? The fact that Ethereum has fortified at the level of $8.5 signifies that the bulls are holding the advantage. The $8.5 price is profitable for the bulls, but the graph clearly shows that the buyers are not taking advantage of that profit at the moment. If this keeps up and a downward turn forms, the most probable scenario will be that of the medium-term trend heading down. If, however, the bulls do manage to make use of their advantage, there....
The bulls had the advantage, the bears failed to hold the level of $10. Will the short-term upward trend keep up? The short-term growth dynamics have formed due to the absence of demand from the sellers. The former level was profitable for deals focused on the medium-term downward trend. This point could be the cut off for a lot of sellers, but the buyers were still more numerous. The current trend will keep up until the Bears win the advantage. The most likely point for that to happen is $11.4. If the Bulls fail to hold Ethereum’s price at that level, there will be a decline to the....
The Bulls are not allowing the downward medium-term trend to continue, but the Bears are not going to give up their ground easily either. The bounce off of the level of $409 and the fortification at $410.5 served as a good indication for a short-term upward movement to $415. At the level of $415, the initiative was seized by the sellers. As was mentioned earlier, this point is very profitable for them. However, the Bulls have managed to hold the price at the new level of $411. There is a possibility of a third wave forming at the $411 mark, which will keep growing until $445, if the Bulls....
Ethereum’s price has stopped before choosing a direction. What is to be expected? Which direction will Ethereum pick? After bouncing off the $11.4 resistance, Ethereum’s price failed to hold at that level. The buyers were more numerous. The $11.4 level is important because it’s the most profitable price for the Bulls. If one compares the rebounds of the upward trend, that becomes easy to notice. Most traders make their decisions at points exactly like that.
Ethereum’s price is right now holding in a zone, which is profitable for the Bears. That is a signal of Bull’s advantage. Will an upward trend form? When an upward trend is most likely to happen? The fact that Ethereum’s price has not undergone a downward impulse indicates that the Bulls are still in control. Whether that will lead to a turn to growth depends on how the price will behave at the level of $11.8. If the bulls hold the advantage, that will be a good signal for an upward trend until the minimum of $12.4.