ETH just surpassed the 4,900 USD threshold, attracting the attention of cryptocurrency analysts due to a surge in buying cash flow and positive price trend forecasts.
Many experts consider the decrease in ETH reserves on exchanges as a sign of strong demand and continued upward price pressure. Meanwhile, BTC's recovery momentum is stalling, allowing ETH to become the preferred choice for investors.
MAIN CONTENT
ETH surpassing the 4,900 USD mark creates strong upward momentum.
The record decrease in ETH reserves on exchanges reflects high demand.
BTC is temporarily stalling, and investors are shifting to ETH as a relatively strong asset.
What does ETH surpassing 4,900 USD mean in the cryptocurrency market trend?
In terms of expertise, ETH surpassing 4,900 USD marks an important turning point in this currency's new price exploration phase. According to analysis from Crypto Rover, this event is accompanied by a significant decrease in ETH reserves on exchanges, demonstrating that buying demand is increasing significantly.
When the price surpasses a significant psychological threshold, buying pressure continues to be driven by investors seeking profit opportunities through ETH's potential growth value. This is a positive signal highly regarded by experts in the short- and medium-term upward trend.
What role do ETH reserves on exchanges play in price forecasting?
Crypto Rover points out that the record decrease in ETH reserves on exchanges is a clear sign of increasing demand. When the circulating supply of ETH on trading platforms decreases, it means that many investors are holding coins long-term and limiting sales, thereby creating lower supply pressure.
This data supports the assessment of a bullish trend when supply is low and demand is high. Cryptocurrency market analyses often view exchange reserves as an important measure to evaluate price dynamics in the near future.
How does the current situation of BTC affect traders' investment trends?
According to expert Miles Deutsher, Bitcoin's recent recovery momentum is stalling around recent high price levels, failing to create a new breakout. This is causing a shift of capital towards better-performing assets like ETH.
When BTC weakens, traders often look for relatively stronger assets to preserve capital and take advantage of price increases. ETH has effectively capitalized on this opportunity by surpassing new peaks, attracting a large influx of cash and reinforcing confidence in a sustainable upward trend.
"The decrease in ETH reserves on exchanges indicates a tightening of supply and strong buying demand, a favorable indicator for the upcoming price surge."
– Crypto Rover, August 2023 Cryptocurrency Market Report
Frequently Asked Questions
Is ETH surpassing 4,900 USD a sign of the beginning of a long-term upward trend?
ETH breaking the 4,900 USD mark is a positive signal in the short term, but it is necessary to monitor additional factors such as liquidity and market volatility to confirm the long-term trend.
What does the decrease in ETH reserves mean for investors?
Decreased reserves on exchanges indicate strong demand and a trend of holding coins long-term, aligning with investors seeking sustainable price increase opportunities.
Why does the slowdown of BTC help ETH increase in price?
A reversal or sideways movement in BTC often leads capital to shift towards other assets like ETH, helping ETH attract cash flow and create increased buying pressure.
How reliable is the expert analysis?
Analytical opinions from reputable experts based on real market data help investors gain an objective and in-depth perspective.
What indicators should be monitored to forecast ETH's price?
Investors should monitor exchange reserves, trading volume, price volatility, and market sentiment to assess ETH's trend.
Source: https://tintucbitcoin.com/chuyen-gia-eth-vuot-btc-lap-dinh/
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