RoYoK
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Bullish
🤓🧐 Veteran trader Peter Brandt suggests a possible rally for Ethereum to USD 3,800–USD 4,800 if ETH breaks above an ascending wedge pattern.
🤔 A short-term pullback could occur as the buy-sell ratio for takers falls below 1, signaling caution among futures traders.
🐋 Ether has also surpassed its realized price for accumulating addresses (USD 1,900), which is the average cost for holders, indicating profits for users. As illustrated in the chart, most of the buying pressure for ETH came from Binance, which is currently the most active exchange for ETH traders.
Using Fibonacci retracement levels, ETH has retested the range of 0.5 to 0.618 (orange box), which aligns with a price level of USD 2,500.
🤯 This new test represents the first stage of recovery, but a short-term pullback could occur before further bullish action develops.
With ETH prices moving at a parabolic rate in recent days, liquidation heat maps noted increased buying liquidity between USD 2,200 and USD 2,400, after a short-squeeze pushed prices up to USD 2,608.
The ratio of buy volume divided by sell volume of takers in perpetual swap trades indicates futures sentiment, and a ratio below 1 implies short-term bearish sentiment.
Therefore, traders might approach the coming days with more caution, with ETH consolidating below the level of USD 2,500.
💡 High activity on Binance and an increase in outflows reflect strong trader confidence, liquidity, and sustained bullish momentum in the current market.
💲💱 “the launch of an Ethereum ETF on the United States stock exchange marks a significant milestone in the integration of cryptocurrencies into traditional financial markets and also for the industry as a whole”
#ETHCrossed2500
$ETH
🤔 A short-term pullback could occur as the buy-sell ratio for takers falls below 1, signaling caution among futures traders.
🐋 Ether has also surpassed its realized price for accumulating addresses (USD 1,900), which is the average cost for holders, indicating profits for users. As illustrated in the chart, most of the buying pressure for ETH came from Binance, which is currently the most active exchange for ETH traders.
Using Fibonacci retracement levels, ETH has retested the range of 0.5 to 0.618 (orange box), which aligns with a price level of USD 2,500.
🤯 This new test represents the first stage of recovery, but a short-term pullback could occur before further bullish action develops.
With ETH prices moving at a parabolic rate in recent days, liquidation heat maps noted increased buying liquidity between USD 2,200 and USD 2,400, after a short-squeeze pushed prices up to USD 2,608.
The ratio of buy volume divided by sell volume of takers in perpetual swap trades indicates futures sentiment, and a ratio below 1 implies short-term bearish sentiment.
Therefore, traders might approach the coming days with more caution, with ETH consolidating below the level of USD 2,500.
💡 High activity on Binance and an increase in outflows reflect strong trader confidence, liquidity, and sustained bullish momentum in the current market.
💲💱 “the launch of an Ethereum ETF on the United States stock exchange marks a significant milestone in the integration of cryptocurrencies into traditional financial markets and also for the industry as a whole”
#ETHCrossed2500
$ETH
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