CandleFocus Bears Dominate Global Crypto Market as Ethereum Hits Critical Levels
2024-11-01
Author: Content Editor
The global cryptocurrency market cap has dropped by 5.96% in the last 24 hours, potentially influenced by a shift in U.S. election predictions. Ethereum has seen a 5% decline, trading at $2,511.96 with a market cap of $302.46 billion. Ethereum ETFs have seen significant inflows, indicating a preference for ETH exposure by institutional investors. Recent whale transactions, including large transfers to Coinbase and an unknown wallet, suggest potential future sell-offs and price shifts. On the technical side, Ethereum faces resistance at $2,576.94 and has a bearish sentiment indicated by the RSI and a bearish crossover in moving averages.
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