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»ALTCOIN NEWS»Ethereum: This could limit ETH’s potential upside.
ALTCOIN NEWS

Ethereum: This could limit ETH’s potential upside.

By Crypto FlexsOctober 7, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Ethereum: This could limit ETH’s potential upside.
Share
Facebook Twitter LinkedIn Pinterest Email
  • ETH has attempted to recover, but evidence of low demand may cause the rally to cool down.
  • Assess the impact of the surge in foreign exchange reserves and the state of foreign exchange flows.

Ethereum (ETH) has finally recovered a bit from last week’s massive selling pressure.

Although there was a slight recovery over the weekend, there are signs that recovery may not be easy this week.

After ending September on a weak note, ETH selling pressure finally eased on Thursday following the 15% retracement.

Some bullish momentum then continued over the weekend, recovering 7% from last week’s low.

ETH was trading at $2477 at press time. Price action was particularly respectful of the rising short-term trendline highlighted in yellow. The slight uptick so far suggests there has been some accumulation.

ETH

Source: TradingView

At first glance, the weekend rally may seem like a healthy one and with the potential for more upside ahead.

However, ETH’s money flow indicators have turned downward over the past 24 hours, suggesting a possible liquidity outflow from ETH.

ETHETH

Source: TradingView

MFI suggests the recent rally could be characterized by weak demand. This also means that ETH’s potential upside may be limited.

However, this may vary depending on changes in supply and demand dynamics during the week.

Will low excitement for ETH hinder its rise?

The above results are consistent with declining interest in the Ethereum cryptocurrency. For those seeking maximum short-term gains, this may be a sign that ETH may not be the best choice.

Moreover, on-chain data shows a sharp increase in ETH exchange reserves over the next few days. These results may be consistent with expectations of more selling pressure.

ETHETH

Source: CryptoQuant

But what do exchange flows reveal about the current situation? According to CryptoQuant, ETH’s exchange flows diverted earlier this month, resulting in lower trading volumes.

For example, exchange inflows peaked at $621,000 ETH in early October, while exchange outflows were slightly lower at $599,778 ETH.

Fast forward to today and exchange inflows stand at 86,173 ETH. Exchange outflows were higher at just over 120,000 ETH.

This means there was a net demand of 33,827 ETH, equivalent to $83.5 million worth of demand.

ETH ETH

Source: CryptoQuant


Read Ethereum (ETH) price prediction for 2024-2025


Based on the above data, we can conclude that there is some demand for ETH, but the quantities are relatively small.

This means that excitement around cryptocurrencies was low, potentially resulting in a muted outcome.

Next: Bitcoin: 3 key stories that could impact BTC price this week

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

SEI tokens have soared more than 100% in June -the highest catalyst explained.

June 26, 2025

$ 438m XRP Transfer Sparks Panic- Ripple?

June 19, 2025

Solana Price Eyes 103% Rally $ 300: Here is the reason.

June 12, 2025
Add A Comment

Comments are closed.

Recent Posts

Hyra Network Honored As “Technology Startup Of The Year” At The 2025 Globee® Awards

July 1, 2025

Shheikh.io Launches SHHEIKH Token Presale For Blockchain-Backed Real‑World Asset Investments

June 30, 2025

What should I do with encryption?

June 30, 2025

AAS Miner Will Become The Top Free Cloud Mining Platform For Passive Income From Mining Cryptocurrencies Such As BTC And ETH In 2025

June 30, 2025

Bitcoin is integrated into less than $ 108,000, but the eyes are set for $ 115,000.

June 29, 2025

Etherrium price behavior is weakened-danger of short-term modifications

June 29, 2025

Last Opportunity-The bonus stage of the light chain AI begins after closing all 15 pre-sales stages.

June 29, 2025

Its Important To Know What’s Really Going On?

June 29, 2025

Elon Musk, SpaceX And Crypto Hype: What’s Really Going On?

June 28, 2025

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 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

Hyra Network Honored As “Technology Startup Of The Year” At The 2025 Globee® Awards

July 1, 2025

Shheikh.io Launches SHHEIKH Token Presale For Blockchain-Backed Real‑World Asset Investments

June 30, 2025

What should I do with encryption?

June 30, 2025
Most Popular

Coinbase-powered Base leads Ethereum layer 2 fees amid surge in trading activity.

March 21, 2024

Bitfinex was among the first exchanges to list ATH, the native token of Aethir.

June 8, 2024

Dogecoin to $1? Traders say a 140% DOGE rally could occur before February.

January 18, 2025
  • 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.