3 key on-chain metrics point to a bullish reversal in Ethereum price
DeFi-tokens corrected heavily over the past 30-days but on-chain data suggest Ether is in the early stages of a bullish reversal. While Ether (ETH) price has been stuck between the $340-$350 range for the last month, multiple on-chain metrics suggest that a recovery may be building.Santiment, a cryptocurrency data analytics firm, recently noted that the number of deposits to exchanges has been decreasing since the start of September. According to the firm, the number of addresses used to send Ether to exchanges has seen a 53% decline since Sept. 1.Ether daily deposits in the last 6 months.....
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Dogecoin (DOGE) whales are gearing up for a bullish reversal for the foremost meme coin. On-chain data shows that these whales have regained their confidence in Dogecoin and are accumulating more DOGE ahead of a potential rally for the meme coin. Related Reading: 6,400 Ethereum Mystery Move Sparks ETH Rally Talk Pre-ETF Nod Dogecoin Whale Accumulation Spikes By 868% Data from the on-chain analytics platform IntoTheBlock shows that Dogecoin whales bought 364.38 million DOGE on July 10, representing an 868% surge from the previous day when these large holders offloaded 37.05 million DOGE.....
Bitcoin could soon see a bullish trend reversal as an on-chain indicator suggests it will do so. The on-chain indicator has predicted a number of notable price trends over the past few years. For one, during 2017’s bull market, the indicator formed a number of bounces off the 1.0 reading. Other fundamental trends also suggest that the prevailing Bitcoin trend is bullish. Bitcoin Could See a Bullish Trend Reversal Very Shortly: Key On-Chain Analysis Bitcoin […]
Ether price finished its price correction. Ether course continued its growth at $10.2 without any down reversal. At the moment the price is at its highest peak. At this point, the long-term direction will be defined. 3 possible course of events with $11.5 level. Breakout and downtrend reversal. Beneficial for:the sellers. They will be gaining profit from it in the long-term because this is the crossing point for the most technical indicators. We saw how influential $11.5 price was earlier this January. The first scenario is that there will be a breakout from the $11.5 price. At the same....
Ethereum (ETH) is gearing up for a price uptick as we begin a new week. Ethereum is currently trading at $3,195 and is up by 1.83% in the past 24 hours. Although Ethereum’s gains are part of a wider market rally after a rebound, the altcoin is in the best position to surge the most in the coming weeks. Related Reading: Bullish Bitcoin Indicator Which Led To A Reversal Has Returned, Is $70,000 Possible? Fundamentals point to an extended price surge in the face of a looming launch of Spot ETFs. Additionally, technical indications are pointing to a bullish outlook for Ethereum as it....
Ethereum price has reached psychological resistance. If it breaks through that line, the next stop is likely to occur at the $20 point. Another increase in volatility can provoke the launch of a new Blockchain consortium, which Microsoft will join. ETH/USD. The growth scenario continues. The hidden reversal structure is still intact. The price has failed to form a reversal at the key level of $12.7; it has led to a new upward impulse. When a hidden reversal takes place, the majority of traders usually open their deals at the nearest key lines. The rebounds, in that case, tend to be....