Ethereum Sinks To $1.2k, But Selling Pressure Only Seems To Be Rising
Ethereum has plunged below $1.3k today, but the decline may not be over quite just yet as on-chain data shows selling pressure continues to rise in the market. Ethereum Exchange Inflows Have Continued To Go Up During The Past Day As pointed out by an analyst in a CryptoQuant post, the ETH derivative and spot exchange inflows are both still on the rise. The “exchange inflow” is an indicator that measures the total amount of Ethereum entering into the wallets of centralized exchanges. There are two versions of this metric, the first notes the inflows specifically going to....
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Ethereum Price Key Highlights. Ethereum price is gradually trending higher but there are still some signs of consolidation, creating a rising wedge pattern on its 1-hour time frame. Price is currently hovering near the wedge support, as buyers and sellers try to decide whether a bounce or a break is in order. Ethereum price is still picking a direction, with a slight bias to the upside, as bitcoin price is also under a bit of selling pressure. Potential Resistance at 0.00300? A bounce off the wedge support around 0.00260 could lead to a move up to the top of the pattern just past the....
Ethereum has been struggling to break above $600 throughout the day, with the selling pressure proving significant. Each break above this level has caused it to see inflows of selling pressure that have slowed its growth and caused it to see slight rejections at this level. It is important to note that bulls are still […]
Ethereum has seen an intense selloff ever since its price reached highs of $1,450 just a few days ago The selling pressure here was rather intense and came about right as BTC started reversing its uptrend This caused the aggregated market to see some intense selling pressure that has yet to alleviate The crypto is […]
Ethereum is currently oscillating between highs of $345 and lows of $336 as its bulls and bears reach an impasse The cryptocurrency has been unable to see any relief following the massive influx of selling pressure that stopped it from seeing any further gains It is still trading well above its multi-week lows of $320, but growing weakness is putting its current stability in jeopardy One analyst explained in a recent tweet that he expects […]
On-chain data shows Bitcoin whales with more than 1k BTC were the main sellers in the latest crash, as other cohorts displayed muted activity. Bitcoin Spent Output Value Bands Shows Spike From 1k-10k Group As pointed out by an analyst in a CryptoQuant post, unlike in the previous declines, the 10-100 BTC and 100-1k BTC cohorts didn’t show any spikes in activity during the latest crash. The relevant indicator here is the “Spent Output Value Bands” (SOVB). which displays the number of coins being moved by each value band in the Bitcoin market. These “value....