CandleFocus Ethereum Attempts to Disentangle from Consolidation Phase at $2.3K
2024-09-12
Author: Content Editor
The crypto sector experienced increased activity over the last 24 hours, leading to a modest positive turn in cryptocurrency prices. Ethereum, the leading altcoin, saw a 0.98% increase in daily price movements, although its price remained stagnant at around $2.3K. However, with Bitcoin leading the positive movement, Ethereum may break out of its consolidation phase. Ethereum co-founder, Vitalik Buterin, staked nearly 950 ETH tokens (worth $2.24 million) onto the Aave network. Despite a death crossover in the token's moving averages, Ethereum's Moving Average Convergence and Divergence (MACD) indicates a positive turn. On the other hand, Ethereum whales have been selling their holdings in recent months.
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