Ethereum(ETH) Surpasses 3,500 USDT with a 0.96% Increase in 24 Hours On Jul 17, 2024, 01:17 AM(UTC). According to Binance Market Data, Ethereum has crossed the 3,500 USDT benchmark and is now trading at 3,509.810059 USDT, with a narrowed 0.96% increase in 24 hours.
تستمر ETH في تجميع أحجام تتراوح بين 2000 دولار و 2125 دولارًا. وعلى الرغم من الارتفاعات المتزايدة، فإن الحد العلوي لهذا النطاق لا يزال يشكل مقاومة قوية.
لاحظ أنه بعد كسر القناة الهابطة، التي أبرزناها في المراجعة السابقة، شهدنا إعادة اختبار غير ناجحة من الأعلى.
ومن خلال تحليل حجم التداول، من الواضح أن ضغط البيع يتناقص تدريجياً. لذلك، بعد مرحلة تراكم قصيرة، أتوقع محاولة جديدة لتجاوز مستوى 2125 دولارًا.
💡 سيكون كسر علامة 2125 دولارًا أمريكيًا والتثبيت أعلاه بمثابة إشارة قوية لتداول ETH قصير المدى، مستهدفًا ما يزيد قليلاً عن 2300 دولار أمريكي.
📊 BTCDOM Analysis - identifying the current market trend
Bitcoin dominance continues its correction in a descending structure, with each resistance retest proving unsuccessful - just today, it faced rejection from a key level.
At present, it's evident that the momentum is still expanding. Considering Elliott Wave theory, we've completed the final diagonal in wave 5, and the indicator is gearing up for further correction.
One observation stands out – the true altseason has yet to kick in. The early-month 1.5% drop in dominance coincided with strong pumps in the altcoin market, with the indicator still hovering at the peaks at that time. Now, it's ready to dip below 50%.
We've discussed the impact of falling BTC dominance on the market multiple times. So, I'm actively seeking fundamentally strong altcoins to open the trades before the upcoming wave.
❗️ Important - the decline in dominance aligns with a flat and accumulation in BTC. It's a crucial point - the overall market trend remains on the rise.
During the corrective movement, sellers failed to establish new local lows, and ETH quickly returned within the boundaries of the upward structure.
Note that on higher time frames, ETH has secured itself above the descending parallel channel I highlighted in the previous analysis and has already tested it from the top.
Looking at the volume profile, it's evident that selling pressure continues to weaken. In the near future, I expect a continuation of the uptrend in the altcoin market (including ETH) during accumulation in BTC market.
💭 As before, a breakthrough above $2125 with a confident 1D candle close will open the path for buyers towards $2300. #ETH $ETH $BTC #Cryotonews
The short-term (❗️) consolidation has significantly affected the overall mood. There is mostly gloom among traders. We see limited spot purchases, many are waiting for a downturn, and few believe in the continued bullish trend.
Markets often defy popular expectations. By signaling an imminent downturn and forcing crowd into short positions, MM is able to push prices upward again.
Meanwhile, the news background and technical picture remain extremely bullish - more large funds are entering the market, and the volume of major over-the-counter (OTC) transactions is increasing.
💡 I assume that the accumulation period may persist in the medium term, clearing out a maximum number of weak positions from the market before the rally continues.
🐋 What coins had the highest whale buying recently?
Ripple (XRP): Between November 12th and 15th, addresses with balances ranging from 1m to 100m XRP added 90 million tokens (~$60 million) to their reserves - [link].
ApeCoin (APE): From October 26th to November 10th, investors with balances between 1m and 10m APE increased their holdings by another 10 million tokens (~$13 million) - [link].
FTX Token (FTT): Following Gary Gensler's announcement on the potential reboot of FTX on November 9th, the number of daily transactions for $50k+ soared to a new maximum of 95. Although this figure has slightly decreased, the trend continues - [link].
Against the backdrop of an improving macroeconomic environment and positive news releases, major players are accumulating positions in altcoins.
👨🏫 While this doesn't guarantee a sharp price increase for these coins in the short term, what's crucial here is the dynamics. The shift in interest signals whales are preparing for a strong altseason.#
With the market downturn, BNB has also experienced a correction to the $240 support level, forming a parallel consolidation channel.
Based on on-chain movements, significant holders are buying near the lower channel boundary, increasing their positions before the continuation of the bullish trend. Meanwhile, seller volumes continue to decrease.
Over the past few weeks, the market has experienced notable overbuying, particularly evident in the RSI. Nevertheless, the indicator has now shifted into the neutral zone, showing substantial potential for growth.
💡 If BNB manages to hold above $240, I anticipate a return to the upper channel boundary with an attempt to establish above this mark and move towards $280.
تم امتصاص الحركات الهبوطية الأخيرة تمامًا - عادت البيتكوين إلى مستوياتها المرتفعة السابقة، مما منع البائعين من إجراء تصحيح أعمق.
يعطي هذا إشارة قوية لهيمنة المشترين على الأطر الزمنية الأعلى. على المدى الطويل، تدعم الظروف أيضًا النمو - النصف القادم، والانتكاسات في رسوم لجنة الأوراق المالية والبورصات، والاهتمام المتزايد بصناديق العملات المشفرة المتداولة في البورصة من قبل اللاعبين الرئيسيين.
أجعل أنشطة الشراء هي الأولوية القصوى. هذا لا يعني الغوص في أي عملات عشوائية، ولكن من المرجح أن تحقق المشاريع القوية بشكل أساسي أداءً جيدًا.
🔍 أستمر في البحث عن فرص مربحة في مثل هذه السوق. كما هو الحال دائمًا، سأشارك مواقفي معك!
After reaching annual highs, the market has undergone the expected correction. Meanwhile, on the higher time frames it maintained a bullish structure.
Take note of the ETH chart - the price swiftly bounced back to $2000 mark, and buyers are currently attempting to close a 4H candle above this level. If successful, we might witness a renewed push towards $2125.
Both the macroeconomic landscape (discussed in the previous post) and technical indicators hint at the continuation of the uptrend - RSI has exited the overbought zone, and the MA has provided strong support on 1D.
💡 I anticipate a brief accumulation phase with the prospect of further highs in the medium term. #ETH $ETH
بينما يستمر السوق في إظهار تفريغ سلس لمؤشرات البيتكوين وحركة الأسعار القوية في سوق العملات البديلة، فقد شهد اليوم تحديثًا حاسمًا آخر للاقتصاد الكلي:
وانخفض معدل التضخم في الولايات المتحدة إلى 3.2%، مقارنة بالتوقعات البالغة 3.3% والنسبة السابقة 3.7%.
❓لماذا هذا مهم؟
وعلى الرغم من أننا نلاحظ رد فعل على أطر زمنية أصغر، إلا أننا سنرى التأثير الحقيقي على المدى المتوسط. لا يمكن للتضخم نفسه أن يؤثر بشكل مباشر على أسعار العملات المشفرة. ومع ذلك، من المهم أن نتذكر أن مجلس الاحتياطي الفيدرالي يتخذ قرارات بشأن أسعار الفائدة بناءً على مقاييس التضخم.
لاحظ أن انخفاض التضخم في أواخر الصيف أدى إلى توقف رفع أسعار الفائدة (منذ يوليو، بقي عند 5.5٪) يليه اتجاه صعودي في سوق العملات المشفرة. 💁♂️ في الوضع الحالي، قبل اجتماع بنك الاحتياطي الفيدرالي في ديسمبر، قد نشهد تجاوز BTC لـ 40,000 دولار. #BTC $ بيتكوين
Over the weekend, BTC didn't show significant volatility, spending these days in a narrow range of $37,300 to $36,900. As Monday approached, volumes slightly increased, but a clear local trend is yet to be determined.
At the moment, the market is in an accumulation phase, with major players continuing to move coins to illiquid (cold) wallets at a rate of ~71,000 BTC per month.
Given the current situation, it can be affirmed that the long-term trend remains bullish. Despite a potential local correction, I anticipate BTC to climb to new highs for this year in the coming weeks.
📈 To demonstrate a rise to $40,000, buyers need to restore the momentum impulse and break through the horizontal resistance at $38,000. A sustained move above this level will serve as strong bullish confirmation. #BTC #CryptoClimb $BTC
On a positive news background, ETH buying volume have doubled in the past week, and we already see it's influence on the price.
Take note – the coin encountered resistance at $2130, a level that has held the price for over a year and a half. Currently, it looks like buyers have enough strength to break this structure.
Considering the overall market dynamics, I believe that in the short term, ETH will secure itself above $2130 and target the next level of interest at $2355.
💡 Keep an eye on $2130. A confident breakthrough will signal the opening of a speculative trade with targets around $2355 and $2505.
11/01/20231⃣ تمت أيضًا إضافة شريط Bitcoin#spotETF الخاص بـ Invesco وGalaxy إلى موقع DTCC الإلكتروني.2⃣ المطلعون: قد يقدم عمالقة التداول مثل Jane Street وJump Trading خدمات صنع السوق لصندوق Bitcoin#ETFالتابع لشركة BlackRock.3⃣ Glassnode: وصل عدد عناوين #البيتكوين المربحة إلى أعلى مستوى تاريخي، ويمثل الآن 80% من إجمالي العناوين غير الصفرية.4⃣ يتوقع محللو برنشتاين حدوث نقطة تحول مهمة بعد خفض سعر البيتكوين إلى النصف، مع هدف منتصف عام 2025 عند 150,000 دولار.
The accumulation period continues - after an unsuccessful attempt by sellers to push the price below $33,400, Bitcoin continues to aggregate volumes in the range of $33,700 to $34,300.
Over the weekend, there is no expectation of high volatility, so in the short term, Bitcoin will likely trade within a sideways channel formed after the establishment of the local peak.
Judging from on-chain transactions, big players are leveraging current prices to prepare for future price appreciation. This serves as yet another confirmation of a bullish market structure.
👨💻 As before, I believe that following the accumulation phase, we can expect a breakout above $35,000, with further movement towards $38,000.
During the latest attempt to break through $1835, ETH set a new local high at $1869. The market structure remains bullish, and buyers are accumulating volumes to secure positions above the resistance.
On-chain transfers from large wallets show a trend of funds moving from Bitcoin to altcoins, with low-cap coins being the primary gainers. The growth in Bitcoin dominance has also slowed down.
🔍 More and more metrics indicate the imminent start of the altcoin season, so I continue to search for profitable trades with altcoins. As always, I will share my positions with you.