Is Ethereum Set to Rally After Shanghai? Data Suggests Bullish Sentiment
Over today’s trading session, Ethereum and the crypto market are showing strength and are trading in the green. The positive price action could be supported by the expectation around ETH’s upcoming major upgrade, “Shanghai.” Related Reading: Analyst That Predicted 2022 Crypto Bottom Says Ethereum Will Hit $10,000 Scheduled for April 12th, this upgrade will allow Ethereum 2.0 validators to un-staked their locked ETH. As a result, the cryptocurrency’s available supply is bound to increase, which could translate into negative price action. So far, the opposite is taking place as traders....
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The price of Ethereum (ETH) looks strong and shows more strength against tether (USDT), holding up compared to Bitcoin (BTC). The price of ETH is anticipated to move with more bullish sentiment circulating as we edge closer to “The Merge.” (Data from Binance) Related Reading: ATOM Expands Over 25% In Last Week, Keeps Bullish Run Since Mid-June Ethereum (ETH) Price Analysis On The Weekly Chart The price of ETH closed the week with so much mixed sentiment ahead of the upcoming “Ethereum Merge,” with so many bullish signs lately. ETH’s price was rejected from....
Ethereum has undergone a strong rally over the past few weeks, moving higher with Bitcoin. But key market data suggests that the case for upside will be limited for the time being. For one, there are “monstrous sell walls” on Coinbase for the Ethereum chart. These walls should limit upside for the time being. Ethereum Market Data Suggests Price Could Drop Ethereum has undergone a strong rally over the past few weeks, moving higher with […]
Retail sentiment toward Ethereum (ETH) remains weak, but analysts suggest that a significant breakout could be on the horizon. Despite Ethereum’s sluggish price action, multiple on-chain indicators and technical patterns hint at an impending bullish reversal. Ethereum Retail Sentiment At Low Amid Sluggish Price Action According to cryptocurrency analyst Mister Crypto, retail interest in ETH is “extremely low,” as indicated by Google Trends data. Compared to its 2017 and 2021 peaks, Ethereum’s current sentiment ranks significantly lower, suggesting that many retail investors are sitting on....
Ethereum Classic (ETC) is arguably one of the tokens that have benefitted the most in the recent rally. Given its close proximity to Ethereum, the bullish sentiment drummed off by the “Merge” had triggered a significant rally in the price of the digital asset. This has also drawn more attention to the cryptocurrency in terms […]
ETH might have rallied 35% off its $1,750 low but derivatives data shows pro traders are not so bullish. Ether (ETH) rallied 35% over the past ten days and reclaimed the critical $2,300 support, but the crucial $2,450 local top hasn't been tested since June 17. Part of the recent recovery can be attributed to the London hard fork, which is expected to go live on Aug. 4. Traders and investors view the EIP-1559 launch as a bullish factor for Ether price because it is expected to reduce gas fees. However, Ether miners are not thrilled with the proposal because the proof-of-work model will no....