Ethereum

Stablecoin

Rally

<div class="watcher-guru"> 
 <p>Ethereum has been trading below $1600. On the daily timeframe chart, the asset’s price recently created lower lows. At the same time, its RSI formed higher lows, resulting in a bullish divergence. Conventionally, this situation depicts that bears are losing power and bulls are gearing up to control the market again. More often than not, bullish divergences are followed by relief rallies.</p> 
 <p>In the weekly timeframe, <a rel="dofollow" title="ETH" href="https://thebittimes.com/tag/eth.html">ETH</a> continues to remain engulfed within its macro-rising wedge. Technically, this structure is bearish in nature. However, given the current sentiment flip in the short term, there are more odds of a bounce back from the lower trendline instead of registering a breakdown from that level. Consequentially, this has the potential to trigger a 12% uptick for <a rel="dofollow" title="ETH" href="https://thebittimes.com/tag/eth.html">ETH</a>.</p> 
 <figure class="wp-block-image size-large">
  <img decoding="async" width="1024" height="518" src="https://cdn.thebittimes.com/images/2023/09/27/39fb14bd4510a3f2eddfef0e57902cb7.webp" alt class="wp-image-113760" srcset="https://cdn.thebittimes.com/images/2023/09/27/39fb14bd4510a3f2eddfef0e57902cb7.webp 1024w, https://cdn.thebittimes.com/images/2023/09/27/39fb14bd4510a3f2eddfef0e57902cb7.webp 300w, https://cdn.thebittimes.com/images/2023/09/27/39fb14bd4510a3f2eddfef0e57902cb7.webp 768w, https://cdn.thebittimes.com/images/2023/09/27/39fb14bd4510a3f2eddfef0e57902cb7.webp 1536w, https://cdn.thebittimes.com/images/2023/09/27/39fb14bd4510a3f2eddfef0e57902cb7.webp 380w, https://cdn.thebittimes.com/images/2023/09/27/39fb14bd4510a3f2eddfef0e57902cb7.webp 550w, https://cdn.thebittimes.com/images/2023/09/27/39fb14bd4510a3f2eddfef0e57902cb7.webp 800w, https://cdn.thebittimes.com/images/2023/09/27/39fb14bd4510a3f2eddfef0e57902cb7.webp 1160w, https://cdn.thebittimes.com/images/2023/09/27/39fb14bd4510a3f2eddfef0e57902cb7.webp 1920w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   ETH/USDT by TradingView
  </figcaption>
 </figure> 
 <p><strong>Also Read: JPMorgan: Stablecoin Issuers Might Shatter Funding Market</strong></p> 
 <div class="quads-location quads-ad33739 " id="quads-ad33739" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div class="publift-ad add">
   <div data-fuse="22560828227"></div>
  </div> 
 </div> 
 <h3 class="wp-block-heading" id="h-ethereum-s-path-up-is-filled-with-obstacles-investors-beware">Ethereum’s Path Up is Filled with Obstacles: Investors, Beware! </h3> 
 <p>That being said, <a rel="dofollow" title="ETH" href="https://thebittimes.com/tag/eth.html">ETH</a> might not register a spike straight off the bat. The ascent will be gradual because profit booking has already started. The exchange net flows have been in green over the last couple of days. Specifically, on Sept. 26, 2023, the reading of this metric flashed a value of +54,246.33. This means there are more people selling <a rel="dofollow" title="ETH" href="https://thebittimes.com/tag/eth.html">ETH</a> by sending them to exchanges currently.</p> 
 <div class="quads-location quads-ad15192 " id="quads-ad15192" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div id="primisContainer" class="add"></div> 
 </div> 
 <figure class="wp-block-image size-large">
  <img decoding="async" width="1024" height="368" src="https://cdn.thebittimes.com/images/2023/09/27/9ff87f95149cffa298b2b2d9a8f50ee2.webp" alt class="wp-image-113764" srcset="https://cdn.thebittimes.com/images/2023/09/27/9ff87f95149cffa298b2b2d9a8f50ee2.webp 1024w, https://cdn.thebittimes.com/images/2023/09/27/9ff87f95149cffa298b2b2d9a8f50ee2.webp 300w, https://cdn.thebittimes.com/images/2023/09/27/9ff87f95149cffa298b2b2d9a8f50ee2.webp 768w, https://cdn.thebittimes.com/images/2023/09/27/9ff87f95149cffa298b2b2d9a8f50ee2.webp 1536w, https://cdn.thebittimes.com/images/2023/09/27/9ff87f95149cffa298b2b2d9a8f50ee2.webp 2048w, https://cdn.thebittimes.com/images/2023/09/27/9ff87f95149cffa298b2b2d9a8f50ee2.webp 380w, https://cdn.thebittimes.com/images/2023/09/27/9ff87f95149cffa298b2b2d9a8f50ee2.webp 550w, https://cdn.thebittimes.com/images/2023/09/27/9ff87f95149cffa298b2b2d9a8f50ee2.webp 800w, https://cdn.thebittimes.com/images/2023/09/27/9ff87f95149cffa298b2b2d9a8f50ee2.webp 1160w, https://cdn.thebittimes.com/images/2023/09/27/9ff87f95149cffa298b2b2d9a8f50ee2.webp 2382w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: CryptoQuant
  </figcaption>
 </figure> 
 <p><strong>Also Read: China: Billionaire Chairman of Evergrande Arrested</strong></p> 
 <p>Alongside, data from IntoTheBlock revealed that wallets with zero balance have risen by roughly 13% over the past week. This means a significant number of users have transferred out all of their tokens, ringing another bell of caution. Thus, if the pressure on these two ends continues to escalate, <a rel="dofollow" title="ETH" href="https://thebittimes.com/tag/eth.html">ETH</a> could end up dropping to $1422 over the medium term. At press time, the $191 billion-worth asset was seen exchanging hands at $1591.6.</p> 
 <figure class="wp-block-image size-large">
  <img decoding="async" loading="lazy" width="1024" height="580" src="https://cdn.thebittimes.com/images/2023/09/27/1c088805170f3a392b51ae7243888927.webp" alt class="wp-image-113754" srcset="https://cdn.thebittimes.com/images/2023/09/27/1c088805170f3a392b51ae7243888927.webp 1024w, https://cdn.thebittimes.com/images/2023/09/27/1c088805170f3a392b51ae7243888927.webp 300w, https://cdn.thebittimes.com/images/2023/09/27/1c088805170f3a392b51ae7243888927.webp 768w, https://cdn.thebittimes.com/images/2023/09/27/1c088805170f3a392b51ae7243888927.webp 380w, https://cdn.thebittimes.com/images/2023/09/27/1c088805170f3a392b51ae7243888927.webp 550w, https://cdn.thebittimes.com/images/2023/09/27/1c088805170f3a392b51ae7243888927.webp 800w, https://cdn.thebittimes.com/images/2023/09/27/1c088805170f3a392b51ae7243888927.webp 1094w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: Mint
  </figcaption>
 </figure> 
 <p><strong>Also Read: SBF Documentary ‘Downfall of the Crypto King’ Goes Live on BBC</strong></p> 
 <div class="quads-location quads-ad33742 " id="quads-ad33742" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div class="publift-ad add">
   <div data-fuse="22560828233"></div>
  </div> 
 </div> 
 <p></p> 
</div> 
<div class="cs-entry__tags">
 <ul>
  <li>ETH</li>
  <li>ethereum</li>
 </ul>
</div> 
<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/ethereum-creates-bullish-divergence-12-rally-to-follow-tbt64150.html">https://thebittimes.com/ethereum-creates-bullish-divergence-12-rally-to-follow-tbt64150.html</a></p>

Ethereum Creates 'Bullish' Divergence: 12% Rally to Follow?

Table of Contents

TheBitTimes

Other articles published on Sep 27, 2023

TraderJoe’s Ambitious Bid Boosts Arbitrum’s Growth Prospects

Uniswap Foundation targets $62M in additional funding

How powerful is AI automated trading? ATPBot supercomputer and massive strategies will show you

DraftKings Stock Fell in Sep; DKNG Stock Recover in October?

Bitcoin Price Analysis: Will the Fed Send It Back to $20,000?

MoneyGram to launch non-custodial digital wallet

Join our free newsletter for daily crypto updates!