Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ALTCOIN NEWS»If ETH falls below $3.8K, Ethereum bulls will have a decision to make.
ALTCOIN NEWS

If ETH falls below $3.8K, Ethereum bulls will have a decision to make.

By Crypto FlexsDecember 11, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
If ETH falls below .8K, Ethereum bulls will have a decision to make.
Share
Facebook Twitter LinkedIn Pinterest Email

reporter

Posted on: December 11, 2024

  • Buying pressure on ETH has remained high over the past few days.
  • Technical indicators supported the possibility of a price increase.

As market conditions remain weak, Ethereum (ETH)Like most other cryptocurrencies, corrections have also been witnessed.

The recent decline has now become a test for the bulls as the king of altcoins failed to break the $3.9,000 resistance.

Ethereum Bulls Under Pressure

ETH has witnessed a price correction of more than 3% in the last 24 hours, taking the price below $3,000. At the time of this writing, the king of altcoins was trading at $3,760.02, giving it a market capitalization of over $452 billion.

While token prices were falling, the Ethereum Foundation took action. Spot On Chain recently posted: tweet It was revealed that the Ethereum Foundation just sold 100 ETH for 374,334 DAI.

This brings the total ETH sales in 2024 to 4,366 ETH, with an average price of $2,796, or $12.21 million.

To determine whether this sales trend is dominant in the market, AMBCrypto looked at other data sets.

Fortunately, not all investors sold their holdings. This could support the bulls to start a recovery and push ETH back above $3.9,000.

This trend is evident in the decline in ETH balances on exchanges over the past two weeks.

Exchange balance in ETHExchange balance in ETH

Source: Glassnode

Highblock Capital’s data After the surge, ETH’s selling volume was seen decreasing to 9.6. First of all, the closer the number is to 0, the lower the selling pressure, and the closer it is to 100, the higher the selling pressure.

But the whales decided to move in the opposite direction. According to CFGI.io dataWhale sentiment reached 61.5%, which is a sign that whale selling is active.

Can ETH bulls reverse the downtrend?

Even if the whales decide to sell, ETH bulls can still push the price of the token up. Ethereum’s NVT rate has been recording a decline over the past e days.

Whenever the indicator falls, it means that the asset is undervalued and its price will rise in the future.

ETH’s NVT RateETH’s NVT Rate

Source: Glassnode

In addition to this, AMBCrypto supports ETH’s Long/Short Ratio Increased by 4 hours.

This means there are more long positions than short positions in the market, which generally suggests rising bullish sentiment towards the token.

Some technical indicators have suggested that the Ethereum bulls may be making a comeback. For example, the relative strength index (RSI), a technical indicator, showed a slight upward trend.


read Ethereum (ETH) price prediction 2024~2025


Chaikin Money Flow (CMF) also rose. A rise in CMF indicates that buying pressure is increasing and the market or asset is entering an upward trend.

Therefore, the Ethereum bulls could successfully pass the test and help the price of ETH rise again in the near term.

Source: TradingView

Next: Clues from Bitcoin Liquidation Heatmap: Why a move to $105,000 is likely

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Defi Surges, BTC Swings & Tradfi faces freezing: Daily encryption failure

August 28, 2025

Keepsolid launches KS COIN: Loyalty encryption through actual utility token benefits

August 14, 2025

XRP struggles for $ 3: Do Whale Offroads attract it lower?

August 7, 2025
Add A Comment

Comments are closed.

Recent Posts

WorldShards Announces Partnership With ByBit And TGE Date

September 1, 2025

EcoSync & CarbonCore Launch Full Stages Refi Infrastructure Linking Carbon Credits With Web3

September 1, 2025

NFT sales in August increased 2.78% in July 2025

September 1, 2025

Bitcoin Price Posts for 5 consecutive August losses: Will Michael Saylor react?

August 31, 2025

Metaplanet’s bitcoin strategy is having trouble with stock plummet in the crisis of financing.

August 31, 2025

Next chapter of ecosystem support program

August 31, 2025

Ether Lee (ETH) tests major support for $ 4,453 after the highest rejection.

August 31, 2025

BNB price forecast: Target $ 890- $ 900 in September 2025.

August 31, 2025

After BTS Star Jungkook has 39 billion hacking, South Korea will crack down on encryption fraud.

August 30, 2025

FY Energy Offers Industry-leading Cloud Computing Systems, Offering Opportunities For Daily Passive Income Of $7,580 Through Mining.

August 30, 2025

Four coins to be purchased as decisions for five branch XRP ETFs will be pushed until October.

August 30, 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

WorldShards Announces Partnership With ByBit And TGE Date

September 1, 2025

EcoSync & CarbonCore Launch Full Stages Refi Infrastructure Linking Carbon Credits With Web3

September 1, 2025

NFT sales in August increased 2.78% in July 2025

September 1, 2025
Most Popular

Asia Express – Cointelegraph Magazine

November 27, 2023

Update – Why don’t the Bitcoin Core upgrade instructions require all the new files?

February 10, 2024

Cryptocurrency inflows surge, led by Bitcoin ETF – Trump effect?

November 26, 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.