Main meals
Why Ethereum faces renewable sale?
The second Trend Research has launched Eth Sele-FF, as it has unloaded 102,355 ETHs at a value of $ 455 million since October 1.
Can Ethereum prove his land despite the sale of whale and retail?
To date, yes. ETH is still flexible, trading near $ 4,590. If the bulls absorb the sale of the sale, the ETH may re -test $ 4,673 and aims to $ 4.8 thousand.
Since the market recovery, ethereum [ETH] He slowly responded to moderate gains. In fact, since it reached a low level of $ 3.8,000, ETH has been traded within an upward channel, reaching the highest level of $ 4619.
As of the writing of these lines, ETHEREUM was traded at $ 4590 after a moderate increase of 2.03 % on daily plans.
But why is ETH still struggling?
Ethereum whale folded strongly
Ambcrypto notes that Ethereum has failed to achieve a significant rise due to high pressure pressure, especially from big players.
After recovering the market, the whales jumped properly. In fact, the average instant arrangement showed large whale orders for three consecutive days.
Last week, Ethereum witnessed large four -day whale orders. Often, when the market records whale requests, it indicates an increase in sharing from large entities.
Source: Cryptoquant
Surprisingly, these requests are mainly sold Embervn. According to the series Monitoring screen, Trend Research turned into an aggressive sale, unloading 41,421 ETH at a value of $ 189 million on October 5.
Since they started the second round of the Selling of ETH on October 1, they deposited 102355 ETH at a value of $ 455 million.
Source: embercn
As a result of the increase in the sales activity, the Exchange Netflow shadow in altcoin positive for two consecutive days.
At the time of the press, Netflow 81.7 KB, indicating high flows, was a clear mark on the sale of the aggressive spot.
Source: Cryptoquant
Usually, when big players such as trend research turn to aggressive sale, it indicates the lack of condemnation of the market, which is a clear and clear signal.
Retailing traders behave the same
While whales took control of the immediate market, Ambrypto analysis decided that retailers have turned into the futures market.
According to Cryptoquant, the average future demand showed a lot of retail orders. For two consecutive days, retail was a dominant player in futures.
Source: Cryptoquant
Surprisingly, these young players are widely active on the sale side. As such, CVD Taker Futures indicated from Cryptoquant to “Taker Sell”.
When this scale is red, it indicates that traders often close their operations, indicating a satirical trend between retailers.
Source: Cryptoquant
This market behavior refers to the lack of confidence in the market, which is a clear and clear signal.
Can ETH challenge all difficulties?
Despite the high sales activity of whales and retail dealers in the futures market, the ETH remained flexible.
This means that the sale of the sale has not yet been felt in the market, indicating the absorption of great pressure for sale.
In fact, the ETHEREUM movement index (DMI) increased from 20 to 28 at the time of the press, indicating the promotion of upward momentum.
Source: TradingView
At the same time, the Rvgi (RVGI) Vigor (RVGI) index has risen to 0.22, confirming this upward movement.
Usually, when the momentum indicators in such a preparation are, it indicates the possibilities of continuing in the upward trend if the conditions remain favorable.
If ETH challenges the difficulties and the trend continues, the ETH will restore $ 4,673 and aims to resist $ 4.8 thousand. The violation of this ETH level will witness 5 thousand dollars, because the above resistance here is not important.
However, if the sellers, especially whales, overcomes the market, the ETH will return to $ 4,415 for $ 4,248 as a major support.
