![Ethereum [ETH]: Here’s the question of profit now that ETH is above $2K](https://i.headtopics.com/images/2022/8/13/cryptoamb/ethereum-eth-here-s-the-question-of-profit-now-that-eth-is-above-2k-1558431525678551040.webp)
Proof-of-Stake (PoS) bound Ethereum [ETH] has jumped by almost 100% in the last thirty days. Consider this – On 14 July, ETH was valued at a mere $1,086. At press time, however, the altcoin was up 6.61% in 24 hours to hit a value of $2011.80 on the charts. With investors gearing up for the […]
jumped by almost 100% in the last thirty days. Consider this – On 14 July, ETH was valued at a mere $1,086. At press time, however, the altcoin was up 6.61% in 24 hours to hit a value of $2011.80 on the charts., is ETH primed to go beyond and stay above the $2,000-level before the event?The possibility of reaching this milestone soon may have taken a hit, however. This, in light of a potential ETH price reversal from its press time position.
According to the ETH/USDT chart, for instance, the Relative Strength Index indicated that buying pressure might have gone too far. The RSI flashed a reading of 74.09 on the charts, meaning it had already crossed the overbought level and was in the region for a price drawdown. However, investors still looking for profits may have something to hold on to considering ETH’s press time position.he Directional Movement Index revealed the +DMI was comfortably above the -DMI .
Based on the same indicator, the ADX flashed northbound movement, considered a strong directional one. If the ADX maintains its position, ETH’s potential of holding $2000 may well be in place. However, investors may still need to watch the Moving Average Convergence Divergence .According to the charts, the MACD’s position was a close call between bearish and bullish momentum. Interestingly, the indicator was above zero, indicating that buyers had more strength.
Similarly, there was a slight difference in the buying pressure over the sellers . For this reason, ETH’s chances of a further uptick may be more than the potential of a downtrend.Besides the cryptocurrency’s price action, ETH traders in long positions seem to have seen more liquidations than shorts. According to, there have been more long liquidations in the top-three exchanges over the last 24 hours.
Binance recorded $6.11 billion in liquidation for ETH long traders. OKEx reported $3.77 billion, while FTX was at $1.44 billion.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ethereum: Should ETH traders take long bets with tentative Merge dateEthereum’s transition into a proof-of-stake consensus mechanism continues to be at the forefront of discussions within the blockchain ecosystem. On 11 August, core developers on the network, on a consensus layer call, suggested possible dates for the Ethereum Merge. Before the eventual Merge into a proof-of-stake network, the blockchain has to complete two upgrades called […]
Read more »
Assessing what ETH Merge could bring for Ethereum ClassicEthereum Classic [ETC], the hard fork result of a 2016 Ethereum [ETH] split, does not seem to be out of touch with the altcoin king. Just a few hours after ETH completed the Goerli testnet, ETC rode to another high. In July, ETC hit a three-month high after ETH passed the previous testnet stage before […]
Read more »
![Ethereum [ETH]: $2K-level does not seem far off, thanks to…](https://i.headtopics.com/images/2022/8/11/cryptoamb/ethereum-eth-2k-level-does-not-seem-far-off-thanks-to-1557752062791802880.webp?w=640)
Ethereum [ETH]: $2K-level does not seem far off, thanks to…Ethereum [ETH] finally sustained its bullish track as its recent rallies altered the long-term trend to exhibit a buying edge. With the 200 EMA assuming a rebound zone for the bearish pulls, the king alt now saw a volatile break above the point of Control (POC, red). In the four-hour timeframe, the two-week trendline resistance […]
Read more »
Ether hits its highest price in 2 months following the successful Merge on its Goerli testnetEther hits its highest price in 2 months following the successful Merge on its Goerli testnet kitconews gold silver finance metals investing economics mining
Read more »
Boddy: Even a small garden can do big things in OttawaThe Clyde Bee \u0026 Butterfly Patch is a perfect example: It\u0027s adding to insect research, it\u0027s a lab for native species and it\u0027s proof that a single garden can…
Read more »
Boddy: Even a small garden can do big things in OttawaThe Clyde Bee \u0026 Butterfly Patch is a perfect example: It\u0027s adding to insect research, it\u0027s a lab for native species and it\u0027s proof that a single garden can…
Read more »