Crypto Analyst Believes ETH Is Ready To Make a Move Up

A crypto trader shared a post on Twitter earlier this morning to share his thoughts on what the price of the largest altcoin by market cap, Ethereum (ETH), might do in the coming days. According to the post, the trader believes that ETH’s correction is coming to a close, and the altcoin has reached its weekly low for now.

Ethereum/US Dollar 1h (Source: Twitter)

This being the case, the trader believes that the price of ETH will only go up from its current position. When looking at the community’s thoughts on this prediction, it seems like not many people agree with the traders opinion on ETH at the moment.

One commenter specifically pointed out a Tweet made by the whale tracking website, WhaleStats, this morning. In this Tweet, WhaleStats announced that 21,375 ETH, worth about $37,527,485, was transferred from an unknown wallet to Coinbase. This could imply that whales are getting ready to sell their ETH.

ETH is currently trading hands at $1,801.36 after a 1.26% increase in price over the last 24 hours. ETH was also able to reach a high of $1,843.84 and a low of $1,744.86 over the same time period.

Ethereum/Tether US 1D (Source: TradingView)

The altcoin’s weekly performance still looks good as ETH is up by more than 11% over the last seven days. The altcoin’s 24-hour trading volume is in the green zone at the moment, and now stands at $10,888,889,030 after a more than 23% increase since yesterday. In terms of market cap, ETH stands at $220,637,972,002.

Disclaimer: The views and opinions, as well as all the information shared in this price Analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

Comments

Post a Comment

Popular posts from this blog

3 cryptos below $0.2 to outperform Polygon (MATIC) in 2024

Image
Welcome to the world of cryptocurrency, where trends shift rapidly and opportunities abound. In this dynamic landscape, investors are constantly seeking the next big thing. Today, we explore three cryptocurrencies priced below $0.2 that have the potential to outshine even established players like Polygon (MATIC) in 2024. From the meme-fueled momentum of Shiba Inu (SHIB) to the innovative strides of Retik Finance (RETIK) and Stellar's (XLM) promising developments, these gems offer enticing prospects for growth. Let's delve into their potential and what sets them apart. Overview of Polygon (MATIC) and Its Performance Polygon, formerly known as Matic Network, has emerged as a leading layer 2 scaling solution for Ethereum, aiming to address the network's scalability issues. With its innovative technology, Polygon provides faster and cheaper transactions, making it an attractive choice for decentralised applications (dApps) and developers. In 2023, Polygon experienced sign...
Read more

Horizen Labs, Offchain Labs, and Arbitrum Foundation Develop Apechain

Horizen Labs, Offchain Labs, and the Arbitrum Foundation have initiated the development of a dedicated blockchain, Apechain. Apechain will utilize APE as its utility and gas tokens, fostering the expansion of the token’s reach. The platforms shared their enthusiasm for the new development while the community accepted the proposal. In a bid to expand the utility and reach of APE coin, Horizen Labs, Offchain Labs, and the Arbitrum Foundation have initiated the development of a dedicated blockchain, Apechain. In a recent revelation, the blockchain platform, Offchain Labs, unearthed the community’s acceptance of the Apechain development proposal, indicated by a more than 50% support rate. Congratulations to @apecoin DAO on its decision to develop ApeChain utilizing the Arbitrum tech stack! With $APE serving as both the gas and governance token for ApeChain, Arbitrum Orbit's customizability empowers @ApeCoin DAO with true ownership and control over this… ...
Read more

First Republic: U.S. Government Coordinates "Urgent Rescue Talks" to Rescue Bank

Image
U.S. officials are reportedly leading urgent talks to rescue First Republic Bank . This comes at a time when private-sector efforts ushered by the bank’s advisers are yet to pocket a finalized deal. Citing three unnamed sources familiar with the matter, a recent Reuters report revealed,   “The Federal Deposit Insurance Corporation (FDIC), the Treasury Department, and the Federal Reserve are among government bodies that have in recent days started to orchestrate meetings with financial companies about putting together a lifeline for the troubled lender.” JUST IN: US Government coordinating urgent meetings to rescue First Republic Bank $ FRC . — Watcher.Guru (@WatcherGuru) April 28, 2023 Also Read: Crypto x Stocks: Is Un-Correlation in Play? At this stage, it is still not clear if the U.S. government is looking to take part in a private-sector rescue of First Republic. Nevertheless, one of the sources reportedly revealed that the government’s engagement has “emboldene...
Read more