Ethereum

Golem

TRON

The cryptocurrency market is showing signs of recovery after a recent downturn, with Ethereum (ETH) in focus as key investors signal bullish sentiment. Despite the lingering bearish sentiment, recent activities by prominent whales suggest a potential shift toward optimism. On July 11, 2024, blockchain analytics firm Lookonchain reported that TRON founder<a href="https://news.todayq.com/justin-sun-in-trouble-as-ethereum-crashes-10-heres-why/"> Justin Sun </a>has significantly bolstered his Ethereum holdings. Sun purchased 1,614 ETH, valued at $5 million, at an average price of $3,097.&nbsp; Justin Sun ETH accumulation 
This purchase follows his ongoing accumulation since February 2024, amounting to 362,751 ETH worth approximately $1.11 billion, acquired through three distinct wallets. Sun’s additional deposit of $45 million USDT to Binance further underscores his bullish outlook on Ethereum. 
12 hours ago, Justin Sun ( 
Concurrently, another major player named Golem has ceased ETH selling activities, instead staking a substantial 40,000 ETH valued at $124.6 million. This strategic shift by Golem suggests a potential alignment with bullish market trends. 
Golem( ETH technical analysis and upcoming level 
Technical analysts highlight Ethereum’s recent bullish indicators. Notably, ETH has broken out above the neckline of a bullish double-bottom pattern on the 4-hour chart, with experts eyeing a potential rise to the $3,300 level upon a daily closing above $3,135. Ethereum’s price action above the 200 Exponential Moving Average (EMA) on the daily timeframe further supports a bullish sentiment, corroborated by a positive reversal signal from the Relative Strength Index (RSI). 
Despite these bullish signals, market sentiment remains cautious, reflected in a negative open interest (-0.53%) over the past 24 hours, indicating subdued investor activity amid prevailing market uncertainties. However, data from CoinGlass suggests a resurgence in bullish support over the last 7 days, potentially triggering liquidations of approximately $1.18 billion in short positions if ETH surpasses $3,300. Conversely, failure to sustain current levels could lead to liquidations totaling $1.46 billion in long positions should ETH retreat to $2,900. 
As of the time of writing, Ethereum is trading near $3,115, marking a modest 0.5% increase in the past 24 hours. Over a broader timeframe, ETH has experienced a 2.3% decline in the last 7 days, and a notable 12% drop over the past 30 days, highlighting recent market volatility.

Bullish outlook for Ether, analyst eyes on $3,300 level

Todayq News

11 Tem 2024 tarihli diğer yazılar

Trump Decides to Speak at Bitcoin Event in November

Drake Loses Bitcoin Bet Following Canada’s Copa America Exit, ARG Fan Token Soars 40%

LUNC News: Binance Reportedly Assisting Terra Classic Community With USTC Revival

Rep McCormick Introduces Legislation To Secure Release of Binance Executive

Crypto Craze: Republicans See Digital Currency Shaping 2024 Elections — Survey

PYUSD sees dramatic 61% surge on Solana: Is ‘sleeper hit’ tag justified?

Güncel kripto para haberleri için ücretsiz bültenimize abone olun!