Ethereum

bullish

Optimism

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/investors-push-ethereum-prices-down" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Push Ethereum Prices Down</a><br></p>
<p style="text-align: justify">Ethereum’s price is currently on a downward trajectory due to significant actions by a large group of investors. These investors have managed to push the altcoin’s price lower, overshadowing the efforts of optimistic individual investors. The broader market decline and lackluster response to spot Ethereum ETF launches have also contributed to this negative trend.</p>
<h2 id="why-are-investors-selling-ethereum">Why Are Investors Selling Ethereum?</h2>
<p style="text-align: justify">The situation is further complicated by medium- and long-term holders opting to sell for profit. Typically, these investors help stabilize prices even in bearish markets, but their recent selling decisions have interrupted bullish trends. In the past week alone, around 740,000 Ethereum, worth approximately $2.4 billion, were sold. These tokens were last active between six months and two years ago.</p>
<p style="text-align: justify">This surge in selling has exacerbated the price decline but has had minimal impact on individual investors. According to the Net Unrealized Profit/Loss (NUPL) indicator, individual investors remain optimistic about a potential price increase. The NUPL indicator currently sits in the Optimism zone, suggesting that Ethereum holders expect gains <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">in the near future</a>. However, it remains uncertain if this optimism will be enough to reverse the current downward trend.</p>
<h2 id="can-chart-indicators-predict-a-rebound">Can Chart Indicators Predict a Rebound?</h2>
<p style="text-align: justify">Ethereum’s price is currently holding above the 23.6% Fibonacci Retracement line, acting as a support base in this bear market. While this support line prevents further declines, skepticism is also limiting any potential rise. Ethereum is currently struggling to break past the 38.2% Fibonacci level at $3,304, and even if it succeeds, it may find it challenging to surpass the 50% Fibonacci level at $3,455.</p>
<p style="text-align: justify">However, if the selling trend continues and the broader market downturn persists, a drop to the 23.6% Fibonacci line and below $3,118 is possible. This would invalidate the neutral-to-bullish outlook currently held by some investors.</p>
<h2 id="implications-for-investors">Implications for Investors</h2>
<p style="text-align: justify">– Monitor the NUPL indicator to gauge investor sentiment.<br> – Pay close attention to the 23.6% and 38.2% Fibonacci lines for potential support and resistance levels.<br> – Be cautious of ongoing market downturns that could further depress Ethereum prices.</p>
<p style="text-align: justify">In conclusion, Ethereum’s downward trend is heavily influenced by the selling actions of medium- and long-term holders and broader <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market conditions</a>. While individual investors remain hopeful, the uncertain market environment poses significant risks.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/investors-push-ethereum-prices-down" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Push Ethereum Prices Down</a></h5>

Investors Push Ethereum Prices Down

目次

BH NEWS

2024年7月28日公開の他の記事

AAVE founder issues health warning to crypto founders after undergoing surgery

Bitcoin in the United States: The amazing results of a new study

Bitcoin Key To Dollar Stability: Kennedy Jr. Urges US To Hold 4 Million BTC Reserve

Trump Fuks Kamala (TRUMPKAM) Solana Memecoin Will Explode Over 19,000%, As SHIB and Dogecoin Unde...

Donald Trump Envisions America Becoming the World’s Crypto Capital

Bitcoin’s Social Media Buzz Peaks as Price Nears $68K

ニュースレターを購読して暗号資産の最新情報を毎日入手！