Will Ethereum’s price turn volatile soon?


16 Sep 2023 11:30 PM

Latest data and on-chain metrics reveal that Ethereum's buying pressure shows signs of increasing. Most metrics are bullish, but market indicators are bearish....

  • Ethereum's exchange supply has declined, indicating that traders are holding onto their holdings.
  • Tether's supply on exchanges has increased, suggesting potential future buy interest.
  • On-chain data shows that investors are stockpiling Ethereum, with both exchange reserves and net deposits dropping.
  • Bullish signals include a green funding rate in the derivatives market and positive sentiment around the token.
  • However, market indicators on the daily chart suggest a bearish outlook, with indicators like CMF, MFI, and RSI pointing downwards.
  • The Bollinger Bands indicate low volatility, decreasing the chances of a price uptick in the near future.
  • The MACD suggests that bulls are still in control of the market.

The article provides a mix of positive and negative sentiment. On one hand, there are bullish signals such as the increase in buying pressure, positive sentiment, and green funding rate. On the other hand, market indicators and the Bollinger Bands suggest a bearish outlook.

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You May Ask

What is the current state of Ethereum's exchange supply?What does the increase in Tether's supply on exchanges indicate?Are investors stockpiling Ethereum?What are the bullish signals for Ethereum's price?What do market indicators and the Bollinger Bands suggest about Ethereum's near-term future?

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