The Ethereum market is showing a bullish trend, with large wallet transfers and increased trading volumes. The US Spot Ethereum ETF has seen a daily net inflow of $5.24 million, primarily from Blackrock's ETHA, bringing its total net assets to $6.70 billion. However, most competing funds did not experience any inflows during this period. The cryptocurrency market as a whole has seen substantial transfers of Ethereum and Bitcoin. In the past 20 hours, nearly 230,000 ETH were moved between wallets, with Galaxy Digital withdrawing 3,500 ETH from Binance. The Ethereum Foundation has also been active, selling 950 ETH. Currently, ETH is trading at $2,542.80, reflecting a 4.53% increase in price. Market sentiment remains positive, with a total trading volume of $19 billion. The first support level is identified at $2,436, with stronger support at $2,253. The first resistance is set at $2,561. The Relative Strength Index (RSI) is at 72.62, suggesting an overbought territory and a potential sell signal. However, the moving average data supports bullish momentum. Overall, Ethereum is experiencing robust market interest, but there is cautious sentiment about potential overextension.
- Content Editor ( thenewscrypto.com )
- 2024-09-20
Can Ethereum (ETH) Leverage Bullish Signals to Spark a Rally?