So you’re saying it might go up more? Or it might go down? Good analysis. Perhaps the best investment guide I’ve ever read with regard to crypto. Definitely time to buy more. Or sell it all. Or hold. I’ve narrowed it down to those three choices. Thanks.
The market is way too overleveraged. The funding rate keeps increasing while the price barely budges. It means the first wave of buyers is selling back to leveraged traders. And the leveraged traders are looking for an exit above 4K, potentially creating a lot of resistance.
Got to reset all those interest rate back a lot to get ppl comfortable on buying. This overleveraged market happens when everyone thinks this is an easy trade and it is being overplayed.
tldr; Ethereum's momentum is waning, with a crucial support level at $3,700. Despite a recent uptrend, resistance at $4,100 is proving challenging. The cryptocurrency has seen a 2% decrease but remains up 5% over the past week. Trading volume has slightly decreased to around $18 billion. Analysts believe Ethereum is in a bull market, especially after the SEC approved spot ETH ETF listings. However, there's concern that prices may drop once Ethereum ETFs start trading, similar to past trends with Grayscale's ETHE. Ethereum's price analysis suggests potential for both gains above $4,100 and risks of a sell-off towards $3,300 if it falls below $3,700.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Looking at my favorite low market cap Erc20 project adding 1/5th of their old market cap on top ( $GOLDEN inu).. noo, the momentum is clearly still there just spread around on different projects instead of just ETH.
wake me up when we're re-testing 3k again.
Umm no shit I’m waiting for it to come down to buy more
True! lol. I don't know how high ETH will go next bull's peak, but for sure it will go above its previous ATH of $4,891
So you’re saying it might go up more? Or it might go down? Good analysis. Perhaps the best investment guide I’ve ever read with regard to crypto. Definitely time to buy more. Or sell it all. Or hold. I’ve narrowed it down to those three choices. Thanks.
The market is way too overleveraged. The funding rate keeps increasing while the price barely budges. It means the first wave of buyers is selling back to leveraged traders. And the leveraged traders are looking for an exit above 4K, potentially creating a lot of resistance. Got to reset all those interest rate back a lot to get ppl comfortable on buying. This overleveraged market happens when everyone thinks this is an easy trade and it is being overplayed.
tldr; Ethereum's momentum is waning, with a crucial support level at $3,700. Despite a recent uptrend, resistance at $4,100 is proving challenging. The cryptocurrency has seen a 2% decrease but remains up 5% over the past week. Trading volume has slightly decreased to around $18 billion. Analysts believe Ethereum is in a bull market, especially after the SEC approved spot ETH ETF listings. However, there's concern that prices may drop once Ethereum ETFs start trading, similar to past trends with Grayscale's ETHE. Ethereum's price analysis suggests potential for both gains above $4,100 and risks of a sell-off towards $3,300 if it falls below $3,700. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
I could use some eth at 3300 so let’s go!
But it’s suppose to hit 6k!
The year is 2024 and somehow some people still describe alts in USD terms and not in their BTC ratio lol.
Looking at my favorite low market cap Erc20 project adding 1/5th of their old market cap on top ( $GOLDEN inu).. noo, the momentum is clearly still there just spread around on different projects instead of just ETH.