Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»ETHEREUM NEWS»Ethereum Could Reclaim $2,700 As Selling Pressure Reduces as Key Data Signals
ETHEREUM NEWS

Ethereum Could Reclaim $2,700 As Selling Pressure Reduces as Key Data Signals

By Crypto FlexsOctober 8, 20244 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Ethereum Could Reclaim ,700 As Selling Pressure Reduces as Key Data Signals
Share
Facebook Twitter LinkedIn Pinterest Email

This article is also available in Spanish.

Ethereum (ETH) is currently trading around 11% below its local high of around $2,730. Investors are optimistic about the possibility of future price surges due to the revitalization of on-chain data.

Glassnode’s key indicator shows a decline in ETH inflows to exchanges, suggesting investors are holding on to the asset rather than selling it. These trends typically indicate a cumulative increase and may signal a bullish breakout.

Related Reading

As the broader cryptocurrency market develops, Ethereum investors remain cautious, hoping for a bullish recovery that could propel prices higher. A decrease in exchange inflows may mean that traders are bracing for a potential upward move as they will be more inclined to hold onto their holdings during this critical phase.

If Ethereum successfully breaks through the critical resistance level, it could reignite bullish momentum and attract additional investments. The next few days will be pivotal days for ETH as traders closely monitor price action and on-chain indicators for any signs of recovery. With the right conditions, Ethereum could target new highs, reinforcing the overall positive sentiment in the market.

Reduction in net position fluctuations on Ethereum exchanges

Ethereum (ETH) is currently at a critical price level after falling 15% from local highs. Since the Federal Reserve (Fed) decided to cut interest rates a few weeks ago, the cryptocurrency industry as a whole has been filled with expectations of a massive rebound. But despite the optimistic outlook, prices have struggled to rise, making many investors nervous.

Fortunately, Glassnode’s on-chain data suggests a decrease in selling pressure, which could improve market sentiment and pave the way for a potential ETH rebound. One key indicator to consider is the Ethereum Exchanges’ Net Position Changes indicator, which has been trending downward since mid-September. This indicator tracks the flow of ETH into and out of exchanges, and recent declines indicate significant declines in inflows.

The amount of change in net position on the Ethereum exchange decreases. | Source: Glassnode

Lower inflows generally mean less selling pressure. This is because the number of investors moving their assets to exchanges to sell is small. This change in momentum reflects a positive change in market sentiment, suggesting that investors may be less inclined to liquidate positions at current price levels.

The decline in selling activity could give Ethereum some much-needed breathing space to recover from its recent decline.

Moreover, increased investor confidence may lead to higher prices in the future. If this trend continues, Ethereum could be positioned for a resurgence, potentially setting the stage for a bullish breakout as market dynamics shift in its favor. With traders remaining vigilant, all eyes will be on ETH to see if it can capitalize on the improving sentiment and regain upward momentum.

ETH Tests Critical Supply Levels

Ethereum (ETH) is trading at $2,448 after being rejected by the 4-hour 200 exponential moving average (EMA) of $2,516. The price also struggled to maintain momentum above the 4-hour 200 moving average (MA) of $2,458, representing a critical moment for ETH. If Ethereum fails to recover both of these key levels in the coming days, it is at serious risk of falling towards the $2,200 level, potentially triggering a deeper correction.

ETH loses both 1D 200 EMA and MA.
ETH loses both 1D 200 EMA and MA. | Source: TradingView ETHUSDT Chart

Conversely, if ETH breaks and holds above these important indicators, it could signal a bullish trend reversal and open the door for a surge towards the $2,700 resistance area. The results over the next few days will be very important in determining the trajectory of Ethereum.

Related Reading

Traders and investors will be monitoring these levels closely. The ability to recover this could give ETH the momentum it needs to regain strength and test higher price levels. The current price action reflects uncertainty in the market, so it is essential for ETH to assert itself resolutely to inspire confidence and drive the uptrend.

Featured image by Dall-E, chart by TradingView

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Crypto Scam Markets thrives again after attempting to clean up Telegram.

June 24, 2025

Bitcoin is more than $ 104K as the merchant’s eyes move from H2 to $ 145,000.

June 20, 2025

Can Etherrium price return to $ 4,000? Analysts say that ETH should go beyond this support.

June 16, 2025
Add A Comment

Comments are closed.

Recent Posts

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Earns $9,800 Per Day With BTC Breaks Through $107,000, GoldenMining Global Market.

June 27, 2025

Why Bakkt Holdings can buy Bitcoin with a $ 1 billion increase

June 27, 2025

NVIDIA RTX strengthens FITY’s AI -centered innovation in Cooler Design.

June 27, 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

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025
Most Popular

Spot Bitcoin ​​ETF reports net inflows for 6th consecutive day

May 21, 2024

During its Epic Games debut, cryptocurrency title ‘Nyan Heroes’ ranked in the top 30 most played, reaching 200,000 downloads.

April 20, 2024

Evolving Cryptocurrency Regulation in Nigeria: A Critical Need

February 12, 2024
  • 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.