⚡️ Hello everyone! It's been quite a while since my last review of ETH, so it's time for an update.
ETH has followed my green path exactly (I repainted it beige on this chart for convenience).
While Bitcoin is stuck at the 106-104,000 level, ETH looks more confident. In addition, the asset is currently fueled by very bullish sentiment in X, as well as a large number of rumors about partnerships.
BUT! ETH currently has the most overheated funding rate, 3 times higher than BTC and even slightly higher than SOL, which is obviously more speculative.
In addition, there is a huge GAP below us, leading all the way to 1,850!
Let's figure out what might await ETH in the near future and why:
⚙️ Metrics and indicators:
DSRZ - resistance at 2800 is currently the strongest level, and ETH is actively storming it, forming an ascending flag.
DSD - a large amount of buying liquidity is at the 2,600 - 2,400 levels. Therefore, we only see wicks from this range. The price almost instantly recovers when it falls below 2,500.
DMF - capital inflows into ETH continue to this day, albeit in smaller volumes, and divergence is observed.
But, surprisingly, even at a price of 1,500, the DMF indicator did not drop significantly, meaning that no one was disappointed in ETH as was suggested in the media. Liquidity practically did not leave the asset.
📌 Conclusion:
ETH now looks much more interesting than BTC. The first cryptocurrency has long since exhausted its momentum, and its small ATH update only confirmed this.
A lot of positivity around ETH is supporting the price and pushing it up. And let me remind you that Ethereum is now almost 50% below its ATH, so it is much easier for it to move.
And a couple more important facts: ETH recently broke SOL's dominance on the daily chart. This means that even in this pair, changes have begun and the less liquid SOL has started to lose ground.
In addition, while there are large outflows from BTC ETFs, there are inflows into ETH ETFs. This means that ETH may indeed be preparing for its momentum.
📊 I see two paths, both on the chart:
Beige - BTC remains in range and ETH begins its movement. Where the first goal is to close the GAP to 3,200.
Purple - the market begins a standard summer correction and ETH, having gathered short sellers' liquidity from 2,800 to 2,900, goes down to close the GAP.
🔥 Have a great summer, guys! Don't forget to take a break from the charts and get some fresh air sometimes!
ETH has followed my green path exactly (I repainted it beige on this chart for convenience).
While Bitcoin is stuck at the 106-104,000 level, ETH looks more confident. In addition, the asset is currently fueled by very bullish sentiment in X, as well as a large number of rumors about partnerships.
BUT! ETH currently has the most overheated funding rate, 3 times higher than BTC and even slightly higher than SOL, which is obviously more speculative.
In addition, there is a huge GAP below us, leading all the way to 1,850!
Let's figure out what might await ETH in the near future and why:
⚙️ Metrics and indicators:
DSRZ - resistance at 2800 is currently the strongest level, and ETH is actively storming it, forming an ascending flag.
DSD - a large amount of buying liquidity is at the 2,600 - 2,400 levels. Therefore, we only see wicks from this range. The price almost instantly recovers when it falls below 2,500.
DMF - capital inflows into ETH continue to this day, albeit in smaller volumes, and divergence is observed.
But, surprisingly, even at a price of 1,500, the DMF indicator did not drop significantly, meaning that no one was disappointed in ETH as was suggested in the media. Liquidity practically did not leave the asset.
📌 Conclusion:
ETH now looks much more interesting than BTC. The first cryptocurrency has long since exhausted its momentum, and its small ATH update only confirmed this.
A lot of positivity around ETH is supporting the price and pushing it up. And let me remind you that Ethereum is now almost 50% below its ATH, so it is much easier for it to move.
And a couple more important facts: ETH recently broke SOL's dominance on the daily chart. This means that even in this pair, changes have begun and the less liquid SOL has started to lose ground.
In addition, while there are large outflows from BTC ETFs, there are inflows into ETH ETFs. This means that ETH may indeed be preparing for its momentum.
📊 I see two paths, both on the chart:
Beige - BTC remains in range and ETH begins its movement. Where the first goal is to close the GAP to 3,200.
Purple - the market begins a standard summer correction and ETH, having gathered short sellers' liquidity from 2,800 to 2,900, goes down to close the GAP.
🔥 Have a great summer, guys! Don't forget to take a break from the charts and get some fresh air sometimes!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.