Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum’s $43
Billion Volume Powers
Price Surge
Past $3,
600 — Altcoin
SeasonNears
Leading altcoin Ethereum (ETH• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum) has experienced a notable price surge over the
past 24 hours, breaking the $3,600 mark. As of this writing, ETH exchanges
hands at $3,613, a level it last traded at in June.
This rebound has been fueled by a massive trading volume exceeding $43 billion
in the past 24 hours. This hints at a sustained rally toward the psychological
$4,000 price mark.
Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum Price Surge Hints at Altcoin Season
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ETH’s trading volume has totaled $43 billion over the past 24 hours. This
surge in trading activity has propelled the coin’s value to a price last
observed five months ago.
When an asset s trading volume climbs alongside its price, it indicates
strong market interest and confidence in the upward movement. This combination
suggests that the price rally is backed by significant buying activity, making
it more sustainable.
Therefore, ETH’s high trading volume reflects the uptick in market demand and
broad participation. This reduces the likelihood of a sudden reversal.
Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum Price and Trading Volume. Source: Santiment
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Further, Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum’s recent surge suggests a potential shift toward the altcoin
season. According to Blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн Center s Altcoin Season Index (ASI), the
score now stands at 61 out of 100, nearing the 75-point threshold to signal
the commencement of the highly-anticipated time. Altcoin Season Index. Source:
Blockchaincenter
Notably, some profit-taking activity is already underway due to this price
surge. This is reflected in the coin’s positive exchange netflow volume. On
Wednesday, 54,974 ETH valued above $199 million were sent to exchanges.
The exchange netflow volume metric measures the difference between inflows
into and outflows from exchanges over a specific period. When an asset’s
netflow is positive, more coins are moving into exchanges than leaving, often
signaling potential selling pressure as traders prepare to sell.
This increase in supply on exchanges can weigh on the price if demand does not
match the heightened availability. Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum Netflow Volume. Source: Glassnode
ETH Price Prediction: Rally Toward Year-To-Date High
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Despite this, the overall bullish sentiment in the Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum market remains
strong, suggesting that the uptrend may persist. The setup of ETH’s Parabolic
Stop and Reverse (SAR) indicator, as assessed on a daily chart, confirms this
bullish outlook.
This indicator identifies potential trend reversals and provides dynamic
support and resistance levels. It places dots above or below the price chart:
dots below the price suggest a bullish trend, while the dots above indicate a
bearish trend.
As in ETH’s case, when the SAR rests below the price, it signals upward
momentum and suggests a bullish trend. If the bullish trend persists, the ETH
coin price may breach resistance at $3,669 and climb toward its year-to-date
high of $4,093. Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum Price Analysis. Source: TradingView
On the other hand, a decline in bullish pressure will occasion the ETH coin
price to fall toward support formed at $3,336.
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