Analyzing the Ethereum volume profile casts doubt on the 'ETH price has bottomed' narrative.
), has recovered 78% since June 2022. But this doesn’t guarantee further upside, particularly with declining trading volumes suggesting that the risk of a major correction is high.A “volume profile” indicator displays trading activity across prices, with the blue indicating buying volume and the yellow indicating sell volume., Ether’s volume profile on a weekly chart showed about 160 million ETH trades across the $85–$270 price range.
In other words, most traders purchased Ether as its price climbed, illustrating their confidence in the longevity of the bullish reversal that followed the March 2020 crash.2022 ETH price bottom differs from two years ago At first, the Ether volume profile at the beginning of it price recovery in June 2022 from $900 shows 12.50 million ETH trades, down more than 90% from March 2020.
But despite a 75% price recovery, fewer traders have been participating in Ether’s potential bottom this time around when compared with the beginning of the 2020 bull market.For instance, the red horizontal line in the daily chart below, dubbed the “point of control,” or POC — which represents the area with the most open trading positions — shows a net 8.21 million ETH volume of around $1,550, with sellers exceeding buyers by 170,000 ETH trades.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Ethereum (ETH) Price: Analyst Predicts Another Round of Fireworks If This HappensThe Ethereum (ETH) market could be in for another rally if the dollar and rates drift lower, with Bitcoin (BTC) potentially pushing through $25,000, according to analysts
Lire la suite »
Lido Finance Now Holds 33% of All Staked Ethereum (ETH): DetailsLido Finance dominates 33% of all Staked Ethereum (ETH), here's what it means ETH LSD DeFi Investment stETH Blockchain
Lire la suite »
Garland scores 21 points, Cavaliers rout Pistons 114-90Darius Garland had 21 points and seven assists, Donovan Mitchell scored 20 points and the Cleveland Cavaliers led by 35 points in a 114-90 victory over the Detroit Pistons on Saturday night.
Lire la suite »
German shepherd brothers seeking new home after 90-year-old owner diesTwo bonded German shepherd dogs at the Island Safe Harbor Animal Sanctuary in Port Clinton, Ohio, hope to find a new home. Prior to their arrival at the rescue, the 5-year-old siblings lived with...
Lire la suite »
AI Pilot Crushes Human Dogfight Rival in 90 SecondsAccording to a new report, Chinese military researchers say that their AI-powered fighter pilot has bested a human in a real-life aerial dogfight.
Lire la suite »
Community hosts vigil for 22-year-old woman killed in I-90 crashA community on Sunday surrounded themselves around the family of the 22-year-old woman killed this week following a rollover crash on I-90 in Cleveland.
Lire la suite »