Ethereum (ETH) has gained more than 5% in the last 24 hours. Market indicators and metrics remain bullish for the token. The crypto market has recently taken a bullish turn, bringing gains to most cryptos, and Ethereum was no exception.
Ethereum Finally Turns Bullish
After weeks of downward movement, Ethereum investors were finally able to record gains as the token’s daily chart turned green. According to CoinMarketCap, Ethereum was up by more than 5% in the last 24 hours. At the time of writing, Ethereum was trading at a price of 2,318.33 dollars, with a market capitalization of over 278 billion dollars.
Analyses Suggest Limited Room for Maneuver
However, the latest analysis from CryptoQuant suggests that the probability of ETH moving within a small price range is high. CryptoOnChain, an analyst and author at CryptoQuant, mentioned in an analysis that the derivative market charts show a relatively high number of short transactions, which looks bearish.
AMBCrypto’s analysis of CryptoQuant’s data shows that the buying pressure on the token is high. This is evidenced by the fact that its net deposit on exchanges is low compared to the seven-day average. Another bullish signal is its active addresses, which have been increasing recently.
Ethereum’s Resistance Zones
If ETH manages to maintain its bull run, as the metrics mentioned above suggest, the coin could encounter resistance in some zones. The analysis of Ethereum’s liquidation levels shows that ETH, in order to maintain a bull run, must surpass the mark of 2,400 dollars in the near future, and then the mark of 2,450 dollars.
Outlook for Ethereum
The possibility of ETH surpassing these levels is given, as most market indicators are bullish. For example, its Money Flow Index (MFI) has been on an upward trend. Its Chaikin Money Flow (CMF) followed a similar trend, increasing the chances of a sustained upward trend.
10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
How did we rate this casino
In addition to an unlimited bonus, Coinkings.io has a lot to offer. We have a high tolerance for VPNs, an impeccable selection of cryptocurrencies and, above all, an experienced team that immediately provided a wide range of games. In combination, all of this is very convincing.
Free spins are credited on the Gamebeat slots: Max Miner (1st), Book of Elixir (2nd) and Odin’s Tree (3rd).
How did we rate this casino
Bets.io stands out as one of our top-rated crypto casinos. It combines everything you love about Dama casinos — like a stellar game selection and rock-solid reliability — with a refreshing twist: no frustrating KYC processes and no outdated payment methods.
Metaspins is still a very young crypto casino, but it can already convince with a very modern website, a good selection of games and, above all, an excellent bonus.
10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
How did we rate this casino
In addition to an unlimited bonus, Coinkings.io has a lot to offer. We have a high tolerance for VPNs, an impeccable selection of cryptocurrencies and, above all, an experienced team that immediately provided a wide range of games. In combination, all of this is very convincing.
Free spins are credited on the Gamebeat slots: Max Miner (1st), Book of Elixir (2nd) and Odin’s Tree (3rd).
How did we rate this casino
Bets.io stands out as one of our top-rated crypto casinos. It combines everything you love about Dama casinos — like a stellar game selection and rock-solid reliability — with a refreshing twist: no frustrating KYC processes and no outdated payment methods.
Metaspins is still a very young crypto casino, but it can already convince with a very modern website, a good selection of games and, above all, an excellent bonus.
As a bit of a nerd and travel fan, I get to combine many things at KC. As a member of the team, I can ensure that our readers play in reputable casinos and at the same time contribute to the technical development.
Last update: 4. September 2024
Advertising transparency
We are independent, transparent and funded by revenue we generate when you sign up at a casino through us.
Our goal is to help you make better decisions when choosing a casino by offering different information, providing filters and comparison tables, and publishing objective content. Thus, we give you the opportunity to research for free, compare casinos and make your decision based on that.
We cannot guarantee that a casino that is very good for us will fit your type of player and your circumstances.
Why trust us?
We work according to transparent editorial guidelines and disclose our testing methods as well as funding. This article may contain links to our partners, but this does not influence our objective view in any way.
🍪
We use cookies. By using this site, you accept them.