Ethereum

United

Memecoin

Turbo

Rise

<p>The post <a href="https://coinpedia.org/news/ethereum-eth-bulls-be-cautious-as-more-investors-accelerate-profit-taking/">Ethereum (ETH) Bulls Be Cautious as More Investors Accelerate Profit Taking</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>After an impressive rally following the approval of spot <a href="https://coinpedia.org/news/when-will-the-sec-approve-spot-eth-etf-registration-statements-etf-expert-predicts-timeline/" target="_blank" rel="noreferrer noopener">Ethereum exchange-traded funds</a> (ETFs) in the United States, ETH’s price against the United States has experienced a significant resistance level of around $3,900. The large-cap altcoin, with a fully diluted valuation (FDV) of about $465 billion and a total circulating supply of around 120 million, is on the cusp of exploding to retest its all-time high (ATH).</p> 
<p>Notably, more institutional investors and retail traders have shown significant interest in the Ethereum ecosystem. Furthermore, the Ethereum network is reputed to provide a secure tokenization platform with scalable layer two solutions.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-memecoin-rise-threatens-ethereum-bulls">Memecoin Rise Threatens Ethereum Bulls</h2> 
<p>As Ethereum buyers struggle to pump <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/" target="_blank" rel="noreferrer noopener">Ether price</a> beyond $3,950, the meme coin industry continues to register palpable growth. Led by frog-themed Pepe (PEPE), Floki Inu (FLOKI), and Turbo (TURBO), among others, the meme coin industry has surged over 4 percent in the past 24 hours to about $66 billion and a daily average traded volume of nearly $9 billion.&nbsp;</p> 
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   <p lang="en" dir="ltr">The amount of Ether flowing into exchanges hit the highest point since January!<br><br>With a netflow of 140.66k <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> on saturday, this marks the highest net deposits to exchanges in over 4 months.<br><br>High inflows to exchanges are typically a sign of selling behavior, as people either… <a href="https://t.co/XAesouv0XR">pic.twitter.com/XAesouv0XR</a></p>— IntoTheBlock (@intotheblock) <a href="https://twitter.com/intotheblock/status/1795367087487013180?ref_src=twsrc%5Etfw">May 28, 2024</a>
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<p>The notable spike in the meme coin industry has a notable impact on Ethereum supply on exchanges. Despite Ethereum supply on centralized exchanges being at a multi-year low, on-chain data analysis provided by IntoTheBlock shows the net inflow to CEXs has hit its highest level since January.</p> 
<p>Over the weekend, the net inflow of Ether to centralized exchanges reached 140k, the highest in four months.</p> 
<h2 class="wp-block-heading" id="h-midterm-price-targets-nbsp">Midterm Price Targets&nbsp;</h2> 
<p>From a technical standpoint, <a href="https://markets.coinpedia.org/ethereum/" target="_blank" rel="noreferrer noopener">Ethereum’s price</a> against the US dollar is aiming for the next liquidity zone between $4,328 and $4,590, which coincides with the daily 3.618 and 4.236 Fibonacci Extension. If the Ether bulls fail to pump beyond $4k in the coming weeks, the top altcoin will find a solid support level of around $3,525.</p> 
<p>Also Check Out : <a href="https://coinpedia.org/price-analysis/has-the-bitcoin-bull-market-is-over-heres-what-technicals-say-about-the-btc-price-rally/">Has the Bitcoin Bull Market is Over? Here’s What Technicals Say About the BTC Price Rally!</a></p>

Ethereum (ETH) Bulls Be Cautious as More Investors Accelerate Profit Taking

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