The price of Ethereum (ETH) has risen significantly in recent times, breaking through crucial resistance levels and patterns. As long-term holders accumulate more ETH and its open interest hits a record high, investors are becoming increasingly interested in the short-term movements of the crypto.
According to recent data from crypto analytics firm Glassnode, the flow of ETH into accumulation (or "hoddle") wallets has reached an "unreal" level. At press time, the total value of ETH flowing into these wallets stands at 64,100 ETH, or about $167.9 million.
Moreover, data from CoinGlass shows that the Open Interest (OI) of Ethereum in the derivatives market has climbed nearly 17% to hit a new all-time high (ATH) of $33.12 billion.
These developments suggest that investors are becoming increasingly bullish on the short-term prospects of ETH.
Its 200-day EMA is at $2,436, while the 50% Fib retracement is at $2,700. The trading volume in the last 24 hours has increased by 33.50% to $36.82 billion, and the market cap is at $316.95 billion.
As the chart shows, ETH has broken out of a falling channel pattern, which is another factor that could contribute to its short-term upside. The next pivotal resistance is at the $2,800 level, which could propel ETH to the $3,000 psychological barrier.
Clause de non-responsabilité:info@kdj.com
Les informations fournies ne constituent pas des conseils commerciaux. kdj.com n’assume aucune responsabilité pour les investissements effectués sur la base des informations fournies dans cet article. Les crypto-monnaies sont très volatiles et il est fortement recommandé d’investir avec prudence après une recherche approfondie！
Si vous pensez que le contenu utilisé sur ce site Web porte atteinte à vos droits d’auteur, veuillez nous contacter immédiatement (info@kdj.com) et nous le supprimerons dans les plus brefs délais.
