While still harnessing lucrative potential for this cycle, savvy investors are routinely getting tired of older cryptocurrencies like Dogecoin and Polkadot. This is because they won’t provide the 100x gains investors are seeking, unlike new play-to-earn gem Rollblock, which has whales in a frenzy in anticipation of a 800% surge and 100x gains in Q4. The post Rollblock on Fire and Not Just From Token Burning, Polkadot and Dogecoin See Signs of Exhaustion appeared first on Times Tabloid .
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Ethereum Trails Bitcoin, But Bullish Momentum Gains Strength
Ethereum price started a fresh upward move above the $2,335 resistance. ETH is now aiming for more upsides above the $2,420 resistance. Ethereum started another increase from the $2,280 resistance. The price is trading above $2,350 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $2,310 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear the $2,420 resistance to continue higher in the near term. Ethereum Price Aims Higher Ethereum price formed a base near $2,280 and started a fresh increase like Bitcoin. ETH was able to clear the $2,320 and $2,350 resistance levels. BTC gained over 5% but ETH struggled to match the strength. It cleared the 76.4% Fib retracement level of the downward wave from the $2,392 swing high to the $2,277 low. It even traded above the $2,392 high and is now showing positive signs. Ethereum price is now trading above $2,350 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $2,310 on the hourly chart of ETH/USD. On the upside, the price seems to be facing hurdles near the $2,420 level. It is close to the 1.236 Fib extension level of the downward wave from the $2,392 swing high to the $2,277 low. The first major resistance is near the $2,450 level. The next key resistance is near $2,550. An upside break above the $2,550 resistance might call for more gains. In the stated case, Ether could rise toward the $2,650 resistance zone in the near term. The next hurdle sits near the $2,720 level or $2,750. Are Dips Supported In ETH? If Ethereum fails to clear the $2,420 resistance, it could start another decline in the near term. Initial support on the downside is near $2,365. The first major support sits near the $2,310 zone and the trend line zone. A clear move below the $2,310 support might push the price toward $2,280. Any more losses might send the price toward the $2,220 support level in the near term. The next key support sits at $2,150. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,310 Major Resistance Level – $2,420 TimesTabloid
Ethereum Holders Show Mixed Signals: Are The Big Players Losing Interest?
Ethereum (ETH) holders appear to be adopting varying strategies amid ongoing market uncertainty, latest data from CryptoQuant shows. Particularly, according to a recent analysis by a CryptoQuant analyst under the pseudonym ‘Darkfost,’ a noticeable shift in ETH’s investor behaviour is taking place. So far, larger holders of Ethereum and smaller retail investors are exhibiting signs of inactivity, while mid-sized holders show a measured increase in their holdings. This divergence in strategies among these market participants may provide insight into Ethereum’s market sentiment, especially as it faces a decline in dominance, Darkfost revealed. Related Reading: Ethereum To $4K Again? Analyst Predicts Bull Run As Key Metric Approaches Critical Level Detailing The Holders Divergence Darkfost points out that Ethereum addresses holding more than 100,000 ETH have been largely inactive. This trend is also visible among retail addresses, which typically accumulate smaller amounts of ETH. In contrast, addresses holding between 10,000 and 100,000 ETH are slowly buying more Ethereum. At the same time, addresses holding between 100 and 1,000 ETH continue to sell off their holdings steadily. This diverse behavior among different investor segments suggests a complex market outlook for Ethereum. The inactivity of large holders, those with balances exceeding 100,000 ETH, is notable, given their potential impact on the market. Usually, large holders include institutional investors, exchanges, and major entities that can significantly influence market trends. Their current reluctance to engage in either buying or selling suggests uncertainty about Ethereum’s near-term prospects. This hesitation might reflect broader market factors, such as the upcoming US Fed rate cuts or the overall performance of the crypto market. Notably, with the US fed rate cut approaching, large Ethereum holders might be sitting on their hands to see how the market will play out before they put their feet back in the market. On the other hand, mid-sized investors, specifically those with 10,000 to 100,000 ETH, are gradually accumulating Ethereum. This slow but steady buying indicates a cautious optimism among this group of investors. These mid-sized holders often represent smaller institutions, crypto funds, or high-net-worth individuals who may be looking to capitalize on potential price gains without significantly impacting the market. Their gradual accumulation could signal a belief in Ethereum’s long-term potential, even if immediate gains appear uncertain. Related Reading: Triple Bottom Formation: Is Ethereum Set For Major Upswing In Q4? Ethereum Current Market Performance Following an initial rally rising by nearly 5% yesterday, Ethereum has now seen a noticeable pullback in price, dropping below $2,400 once again. Currently, the asset trades at a price of $2,299, at the time of writing down by 2.1% over the past day alone. Interestingly, despite the noticeable decline, ETH’s daily trading volume remains intact, at roughly above $14 billion from yesterday until now. Featured image created with DALL-E, Chart from TradingView TimesTabloid