2024-04-21 23:06:18
- Ethereum sees more exits, but fewer new plays.
- ETH continued its recovery following the BTC halving.
As bitcoins [BTC] the halving was approaching, alternative currencies experienced a price drop. The analysis indicated that Ethereum was one of the assets that saw a significant rise following the halving.
However, ETH mining remained elusive.
Daily bets on Ethereum are falling
The AMBCrypto exam Ethereum The game graph showed a significant drop in the volume of new games in recent days.
The chart indicates that at the beginning of last week there was an increase in the volume of ETH being staked, reaching a peak of over 115,000 on April 15th. However, this volume began to decline.
At the time of writing, the volume of new shares was 31,441, a decrease of over 80,000.
While not the lowest daily number on record for ETH, if this drop continues, it might set a new all-time low. In addition, the total ETH stake exceeded 43.9 million at press time.
Despite an overall increase, a detailed analysis of the graph suggests that the progression has been almost stagnant, indicating a lack of significant recent inflows.
Outflows dominate the Ethereum flow trend
Except for April 20, Ethereum has witnessed more exits than entries in recent days.
AMBCryptoanalysis of the Netflow Chart i glass node It revealed that by the end of the date, ETH experienced an inflow of over 20,000, significantly lower than the outflow volume.
On April 18, ETH experienced an outflow of over 144,800, marking one of the largest outflows recently.
At the time of writing, over 14,000 exits had been recorded, indicating a trend of more ETH leaving exchanges.
Based on the trajectory of the staking graph, it is clear that most of the withdrawn ETH is not being staked. This gave a positive indicator for the asset, indicating that the owners expected a price increase.
This sentiment was particularly strong given Bitcoin’s recent halving, fueling the belief that a rally might begin.
ETH is still in a downward trend
The appearance of AMBCrypto Ethereum on the daily chart revealed a positive conclusion to the week. ETH saw an increase of over 3%, reaching approximately $3,157 by the end of the week.
File Ethereum [ETH] Price prediction 2024-25
It started the week near $3,158, but then faced several days of decline. At the time of writing, it was trading at around $3,177, up less than 1%.
Its relative strength index (RSI) indicated that it fell below the neutral line on April 11. At the time of writing, it remained below this line, although it was a noticeable improvement.
This is an automatic translation of our English version.
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