menu
techminis

A naukri.com initiative

google-web-stories
source image

TheNewsCrypto

4w

read

155

img
dot

Ethereum Shows Mixed Signals as BBTrend Turns Bullish While Whale Activity Declines

  • BBTrend indicator for Ethereum has turned bullish, surging to 4.99 from -3, suggesting a potential reversal in momentum.
  • Whale activity in Ethereum has declined for the seventh consecutive day, with the number dropping to 5,378, indicating weakening institutional interest.
  • Ethereum faces conflicting signals as it trades between $2,900 resistance and $2,679 support levels.
  • The BBTrend indicator signals strong bullish momentum, hinting at a possible shift in market sentiment towards positive action.
  • Whale behavior remains a concern, with large holders reducing positions or refraining from accumulation, potentially impacting Ethereum's price direction.
  • The current number of Ethereum whales with 1,000–10,000 ETH stands at 5,378, indicating a decline over recent days and a potential loss of faith among high-net-worth investors.
  • Ethereum's position near the $2,679 support level is crucial, with potential downside targets at $2,479 and $2,326 if bearish momentum intensifies.

Read Full Article

like

9 Likes

For uninterrupted reading, download the app