Ethereum Bulls Could Seize Market Control, as ETH Aims at Higher Resistance Levels


18 Sep 2023 10:52 AM

The data suggests that Ether might be on the verge of forging a different path....

  • Ether (Ethereum) has experienced a sudden rebound in prices, deviating from its previous corrective path.
  • CryptoQuant's analysis suggests that Ethereum bulls could be taking control of the market.
  • The 'Taker Buy Sell Ratio' metric, coupled with a 30-day simple moving average, indicates a potential shift towards a more bullish outlook.
  • Ether has faced multiple rejections around the $2,000 resistance level and has been on a downtrend in recent weeks.
  • The sudden spike in the metric suggests a potential transformation in market sentiment and a possible upswing in Ether's price.
  • Ether has witnessed a 65% drop in value since its all-time high in 2021.
  • Santiment's analysis considers the current situation a "historical anomaly" and a potential "capitulation signal" for a price recovery.

The sentiment in the article is generally positive, highlighting the potential for a bullish turnaround in Ether's price.

Go to publisher site

You May Ask

What recent trend has Ether (Ethereum) deviated from?What metric is CryptoQuant using to assess market dynamics for Ethereum?What does a positive value in the 'Taker Buy Sell Ratio' metric indicate?What is the significance of the sudden spike in the metric?How much has Ether's value dropped since its all-time high in 2021?

Suggested Reads