ETH’s price could drop below $3,000 as it faces downward pressure, CryptoQuant reported. According to IntoTheBlock data, the net flow of whales holding more than 0.1% of the ETH supply has decreased by 73.19% over the past seven days, indicating that large investors are reducing their positions, the media outlet said. The Taker Buy Sell Ratio indicator for the Ethereum market has also remained mostly below 1 over the past seven days, suggesting that there is continued selling pressure from derivatives traders. The MACD (Moving Average Convergence Divergence) histogram on the ETH/USD daily chart is also showing negative bars, indicating a bearish trend. If the selling pressure intensifies, Ethereum could fall to $2558. However, if market sentiment improves and whales resume buying, it could rise to $3415, the analysis said.
Analysis: 'ETH Selloff Intensifies, May Drop to $2558'
Aviso legal: Se incluyen opiniones de terceros. Esto no representa una asesoría financiera. Puede haber contenido patrocinado. Lee los TyC.
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