CandleFocus Ethereum (ETH) Price Closes Above $3,900 — Is a New All-Time High Possible Before 2024 Ends?
2024-12-16
Author: Content Editor
The price of Ethereum (ETH) has surpassed $3,900, suggesting a potential increase in price before the end of the year. However, on-chain analysis reveals that the cryptocurrency may not surpass its previous all-time high within this short period. The Open Interest (OI) for Ethereum has decreased, indicating reduced exposure to ETH and potential selling pressure. Additionally, the exchange inflow has increased, suggesting increased selling pressure that could hinder price growth. The Parabolic Stop-and-Reverse (SAR) indicator also indicates resistance for ETH's price. If these conditions persist, Ethereum may not reach a new all-time high before the year ends, but if Open Interest increases and exchange inflow decreases, this forecast may change.
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