Ethereum is under pressure as buyers attempt market takeover
The post Ethereum is under pressure as buyers attempt market takeover appeared on BitcoinEthereumNews.com. ETH has surged over the past 24 hours by 5.41%. Although Ethereum is under pressure, the altcoin could recover in the short term before another decline. Over the past three weeks, Ethereum [ETH] has struggled to maintain an upward momentum. Over this period, the altcoin has remained stuck within a consolidation range between $3.2k and $3.5k. This prolonged consolidation has left analysts concerned about ETH’s future trajectory. Notably, CryptoQuant analyst Fost has suggested that Ethereum is facing extreme pressure. Is Ethereum under pressure? According to CryptoQuant, Ethereum is facing high FUD and bearish sentiment, resulting in altcoin’s continued underperformance. Firstly, Ethereum’s netflow on Binance indicates that inflows have dominated since September 2024. This period saw six days with inflows exceeding 100k ETH, compared to one day with the same outflows. Source: CryptoQuant Secondly, Ethereum’s reserve on Binance has surged from 3.6 million ETH in September to 4.3 million ETH as of this writing with a peak of over 4.5 million ETH, adding almost 1 million ETH in a month. Source: CryptoQuant Finally, between September and December 2024, Ethereum’s Open Interest(OI) increased, fueling ETH’s uptrend as long positions dominated. However, OI has declined since December with 7 EMA crossing below the 50 EMA, which is a bearish crossover. Source: CryptoQuant Therefore, this data indicates that Ethereum is in a bearish phase. As such, investors have remained cautious by selling to secure profits when ETH makes slight gains. What ETH’s charts suggest Undoubtedly, Ethereum is currently facing massive pressure with bears having the upper hand. However, in the short term, ETH is signaling a potential reversal to the upside. According to AMBCrypto’s analysis, Ethereum was seeing short-term demand, which could position the altcoin for some gains. Source: CryptoQuant For example, Ethereum’s Coinbase Premium Index has turned positive after dropping to a…

The post Ethereum is under pressure as buyers attempt market takeover appeared on BitcoinEthereumNews.com.
ETH has surged over the past 24 hours by 5.41%. Although Ethereum is under pressure, the altcoin could recover in the short term before another decline. Over the past three weeks, Ethereum [ETH] has struggled to maintain an upward momentum. Over this period, the altcoin has remained stuck within a consolidation range between $3.2k and $3.5k. This prolonged consolidation has left analysts concerned about ETH’s future trajectory. Notably, CryptoQuant analyst Fost has suggested that Ethereum is facing extreme pressure. Is Ethereum under pressure? According to CryptoQuant, Ethereum is facing high FUD and bearish sentiment, resulting in altcoin’s continued underperformance. Firstly, Ethereum’s netflow on Binance indicates that inflows have dominated since September 2024. This period saw six days with inflows exceeding 100k ETH, compared to one day with the same outflows. Source: CryptoQuant Secondly, Ethereum’s reserve on Binance has surged from 3.6 million ETH in September to 4.3 million ETH as of this writing with a peak of over 4.5 million ETH, adding almost 1 million ETH in a month. Source: CryptoQuant Finally, between September and December 2024, Ethereum’s Open Interest(OI) increased, fueling ETH’s uptrend as long positions dominated. However, OI has declined since December with 7 EMA crossing below the 50 EMA, which is a bearish crossover. Source: CryptoQuant Therefore, this data indicates that Ethereum is in a bearish phase. As such, investors have remained cautious by selling to secure profits when ETH makes slight gains. What ETH’s charts suggest Undoubtedly, Ethereum is currently facing massive pressure with bears having the upper hand. However, in the short term, ETH is signaling a potential reversal to the upside. According to AMBCrypto’s analysis, Ethereum was seeing short-term demand, which could position the altcoin for some gains. Source: CryptoQuant For example, Ethereum’s Coinbase Premium Index has turned positive after dropping to a…
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