The Ethereum price was on the 5th day of the bullish spell from July 8th onwards, showing almost 10% gains on the daily chart. After a long deterioration, it displayed a bullish presence from the critical support at the $2850 level.
Moreover, after breaching the 200-day EMA this week, the sentiment turned bearish, but buyers freaked out and started buying to push back above the 200-day EMA. This phenomenon was evident on the daily chart, and indicators depicted the same in their vicinity.
Looking at the number 2 market-dominant player globally by market cap, the supply totally rotated among the users’ hands. ETH’s market cap has surged to $378.637 Billion, with a massive inflow in volume of $11.152 Billion.
Despite the large numbers, the liquidity appeared weak at press time. The 24-hour volume-to-market cap ratio was 2.93%.
What does the ONchain Data of Ethereum (ETH) Present?
Ethereum has a price correlation of 0.95 with the market leader, Bitcoin (BTC), and has
We współpracy z: https://www.thecoinrepublic.com/2024/07/13/eth-exchange-outflows-spike-ethereum-heading-for-3500/
