Will Ethereum [ETH] bulls continue dominating the market next week

The cryptocurrency is currently at a new 6-month high and the bulls are relentlessly pushing further. However, it is also rapidly approaching overbought conditions where we might witness some selling pressure.ETH still has some ground to cover before reaching the $2,000 resistance level. But can cryptocurrency sustain this momentum? It all comes down to the same banking collapse that triggered the current rally.

More liquidity will continue flowing into the crypto market if the dominos continue falling in the banking industry. Glassnode’s analysis of daily on-chain exchange flows reveals that Ethereum had a positive net flow of $35.8 million. Meanwhile, the ETH exchange inflows and outflows suggested that the bullish momentum was about to be challenged. Exchanges, at press time, were experiencing higher inflows than outflows.More importantly, the flow of funds both on and off exchanges was slowing down, at the time of writing. This outcome might pave the way for the bears to pose a challenge for the bulls especially if the situation with the banking industry is rapidly salvaged.

The open interest metric confirms that the demand for ETH in the derivatives market has indeed surged in the last 7 days.

ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว

Similar News:คุณยังสามารถอ่านข่าวที่คล้ายกันนี้ซึ่งเรารวบรวมจากแหล่งข่าวอื่น ๆ ได้

Euler Finance hack: Everything latest that you need to knowThe Ronin Bridge exploiter received 100 Ethereum (ETH) valued at $170,468 from the Euler Financial exploiter. Tornado Cash, a well-known mixing mechanism, was used by the attacker at Euler Finance to mask his activities. Before it was attacked for $196 million, Euler Finance, an Ethereum-based lending system, was rated as “nothing greater than low risk” […]
แหล่ง: CryptoAmb - 🏆 22. / 68 อ่านเพิ่มเติม »

Euler Finance hacker returns tokens worth $5.4 millionEuler Finance hacker who earlier stole $197 million returned about 3,000 Ethereum tokens worth $5.4 million. However, the chances of the hacker returning the entire $197 million loot remain slim. The hacker who stole $197 million from Ethereum-based noncustodial lending protocol Euler Finance has returned approximately 3,000 Ether worth $5.4 million. The assets were transferred […] Bitcoin always recover if you wait long enough If there is any coin not to ever underrate then is $BTC because the pump will always happen If you aren’t following 10_beth_ you should be. There aren’t many who have a better understanding of value investing, great TA
แหล่ง: CryptoAmb - 🏆 22. / 68 อ่านเพิ่มเติม »

Bulls & Bears: March Madness has become big businessThe first week of the NCAA college basketball championships always seems to hit like a tsunami, fuelled by the excitement of the first tipoffs and the inevitable headline\u002Dmaking upsets.
แหล่ง: VancouverSun - 🏆 49. / 61 อ่านเพิ่มเติม »