Ether Lee is an optimistic signal, but concerns are raised as the amount of exchange reserves increases.
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Ether Lee (ETH), the second largest cryptocurrency by market cap, is flashing several optimistic signals that suggests potential rise. But the rising exchange is strengthening this optimism.
Did Ether Leeum form a local floor?
Ether Lee has declined almost 20% over the last two weeks, down to $ 2,200 more than $ 2,805 on February 23. This reduction has disappeared $ 80 billion from ETH’s market cap.
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Despite this rapid full back, encryption analysts point to several optimistic indicators that can know the imminent price reversal. For example, encryption analyst Merlijn is a trader Emphasis The ETH follows the Wyckoff Reaculation pattern.
For those who are not familiar, Wyckoff Reaculation Pattern is a technical analysis method developed by Richard Wyckoff. Regarding ETH’s current price measures, this pattern suggests that assets can enter the accumulation stage before potential upward exercise.
Analysts also mentioned that the spring stage was just triggered. At this level, the bounce can go to ETH to $ 4,000.
Separate x mailMerlijn The Trader also pointed out optimistic divergence on Ethereum’s four -hour chart. According to the analyst, the next immediate goal of ETH is $ 2,700. Fellow password analyst Cryptogoos echo This feeling.
In addition to the technical indicators, whale activities have been added to the strong feelings around the ETH. TED in the X Post famous:
Ether Leeum Whale bought 17,855 ETH The average price of $ 36,000,000 with an average price of $ 2,054. A total of $ 2,530,000 Do you think this will go down? Think again.
Rising exchange reserves can ruin the party
Encryption analyst Ali Martinez pointed ETH reserves for exchange are steadily rising. In the last two weeks, more than 610,000 ETHs have been transferred to the exchange, which can increase sales pressure.
Martinez’s analysis is in recent years. report This has been found that ETH’s relative robbery index (RSI) may have additional disadvantages of digital currency despite the lowest for many years.
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In fact, ETH did so mouse Compared to cryptocurrencies such as Bitcoin (BTC), Solana (SOL) and XRP, due to significant weakness due to relatively weak price performance over the past two years.
But extreme weaknesses can act as opposite signals. environment Stage of surprise rally. In the press time, ETH has increased by 6% over the last 24 hours to $ 2,200.
The main image of Unsplash, X and TradingView.com charts
