Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»ALTCOIN NEWS»Did Ethereum Hit $5,000 After Spot ETF Launch? This Market Trend Could Be Key…
ALTCOIN NEWS

Did Ethereum Hit $5,000 After Spot ETF Launch? This Market Trend Could Be Key…

By Crypto FlexsJuly 20, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Did Ethereum Hit ,000 After Spot ETF Launch? This Market Trend Could Be Key…
Share
Facebook Twitter LinkedIn Pinterest Email
  • According to key indicators, Ethereum could potentially reach $5,000 in the coming months.
  • Despite this, some other market indicators turned bearish and flashed red.

Hype all around Ethereum (ETH) The ETF has been on a tear recently, and as the launch date approaches, investors’ expectations for the altcoin king have also been rising, with many expecting the launch of the spot ETF to be the catalyst for a new bull market for cryptocurrencies.

Ethereum ETFs Make the rounds

In this context, IntoTheBlock recently shared: Twitter It highlights something very interesting. According to the on-chain analytics platform, $126 million worth of ETH was withdrawn from exchanges this week. This number suggests that investors are considering accumulating ETH.

AMBCrypto’s Analysis on CryptoQuant data We have a similar story. We have seen a sharp drop in token exchange holdings, reflecting increased buying pressure.

Ethereum Exchange Holdings Decrease

Source: CryptoQuant

What’s notable is that this happened just days before the long-awaited launch of the Spot ETH ETF. Connecting the dots, investors can expect the price of the altcoin king to skyrocket after the launch.

Additionally, the Coinbase premium for ETH was also in the green, indicating strong buying sentiment among US investors.

Coinbase Premium for ETH Turns GreenCoinbase Premium for ETH Turns Green

Source: CryptoQuant

In addition to this, AMBCrypto Reported Before Investors are showing confidence in ETH. For example, the buy/sell ratio of ETH has shown a noticeable surge above the value of 1 in recent weeks, indicating a change in market dynamics. Here, a buy/sell ratio above 1 is a strong indicator of aggressive buying by bulls.

We then looked at data from Glassnode to see where Ethereum might go if this rally continues.

According to the Pi Cycle Top indicator, the price of ETH has started to move above a possible market bottom. If we believe the indicator, ETH could reach $5,000 in the coming months.

Source: Glassnode

Is there any chance of further uptrend?

AMBCrypto evaluated the data from Santiment to see if there is a path towards $5,000 in the short term. We found a sharp increase in the MVRV ratio, which can be inferred as a bullish signal.

At the time of writing, Ethereum’s MVRV ratio was over 5.97%. Ethereum’s network growth was also high, indicating that more addresses were created to transfer tokens. Additionally, daily active addresses remained stable over the past week, reflecting strong network activity.

ETH's MVRV ratio has increased.ETH's MVRV ratio has increased.

Source: Santiment

Finally, the technical indicator MACD showed a clear bullish lead in the market. However, at the time of writing, ETH was testing a key resistance level. A breakout of that level is essential for ETH to continue its bullish rally.

The Money Flow Index (MFI) is in the overheated buying zone and may exert selling pressure in the short term.


read Ethereum (ETH) Price Prediction 2024-25


Additionally, Chaykin Money Flow (CMF) also recorded a decline.

Taking these indicators together, we can see that it may take more time for ETH to break above the resistance level on the chart.

Source: TradingView

Next: Binance records ‘win’ after court approves government bond investment plan

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Musk & Trump SPAT sends trenches from DOGE Price Crumbling, Tesla.

June 6, 2025

Musk & Trump SPAT sends trenches from DOGE Price Crumbling, Tesla.

June 6, 2025

2025 Best Free Cloud Mining

June 6, 2025
Add A Comment

Comments are closed.

Recent Posts

Musk & Trump SPAT sends trenches from DOGE Price Crumbling, Tesla.

June 6, 2025

Musk & Trump SPAT sends trenches from DOGE Price Crumbling, Tesla.

June 6, 2025

Vortex uses NVIDIA Jetson to innovate medical imaging with CT-similar ultrasound.

June 6, 2025

2025 Best Free Cloud Mining

June 6, 2025

Sei Development Foundation: Use of US Innovation for Global Block Chain

June 6, 2025

Analyst Michaël Van de Poppe says Bitcoin is getting higher.

June 6, 2025

Does Ethereum start their business? MorningStar Candlestick Pattern tells the story

June 6, 2025

Solana’s Journey: Promotion of Challenge, Innovation and Speed

June 6, 2025

Ether Leeum’s imminent brake out in major chart patterns

June 6, 2025

Bittensor increases rapidly after 118 subnets in the $ 1,000 TAO price guess.

June 6, 2025

Bitcoin’s $ 100k drop in caught many merchants for many merchants.

June 6, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Musk & Trump SPAT sends trenches from DOGE Price Crumbling, Tesla.

June 6, 2025

Musk & Trump SPAT sends trenches from DOGE Price Crumbling, Tesla.

June 6, 2025

Vortex uses NVIDIA Jetson to innovate medical imaging with CT-similar ultrasound.

June 6, 2025
Most Popular

Maple Finance is considering a token buyback.

January 14, 2025

Dragon Revealed: The World’s First Token Amulet

February 10, 2024

Girolamo, a new artificial intelligence (AI)-based chatbot, begins beta phase on Cardano blockchain

November 27, 2023
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.