Ethereum spot ETH Etf buck troubling trend, price near $2,000
Ethereum spot ETH Etf buck troubling trend, price near $2,000
Investors bought the drop as the Fear & Greed Index left the fear zone this week, boosting Ethereum.
Ethereum (eth) 0.09%
Ethereum reached $1,800, 30% higher than this year’s low. Its market worth reached approximately $220 billion after rebounding with other cryptocurrencies.
Crypto investors seem to be embracing FOMO. Today, the Crypto dread and Greed Index rose from high dread zone 18 to neutral $53. If the trend continues, greed will likely emerge.
Ethereum bucking a troubling trend has Wall Street investors intrigued. Net inflows for all spot ETH ETFs exceeded $157 million, the most since February. Last weeks’ net outflows were their longest losing sequence since approval.
Other Ethereum stats were good this week. The network’s DEX protocols processed $11.5 billion, pushing the 30-day turnover to $57 billion. The 24-hour volume reached $1.7 billion, with The company, Curve Finance, Flexible, and Maverick Protocol leading.
Ethereum may keep rising as investors seek the psychological $2,000. This view is threatened by the falling perpetual futures funding rate, which means short sellers are paying purchasers to continue their contracts.
ETH has rallied in recent days, according to the daily chart. It crossed the top half of the descending wedge graph pattern, a positive reversal indication.
The currency established a tiny bullish flag pattern and climbed slightly above the 50-week weighted moving average, a bullish continuation indicator.
The currency will certainly rise as bulls approach the psychological $2,000. If the coin breaks $2,120, the weekly chart’s triple-bottom neckline, it will confirm a bullish breakout.
