Demand is back on ETH – The cryptocurrency market seems to be in good shape and may experience several months of growth. If we look at previous bull markets, we find that BTC tends to accelerate during this period. Ethereum has managed to claw back well past $3,000, and growing demand for spot ETFs could help prop up the price of the second-largest cryptocurrency by capitalization. It’s the ETH newsletter!
Ethereum price drops 3.5% in 24 hours
Despite that down 3.5% in the last 24 hoursTHE The price of ethereum since then it has clearly advanced against the dollar three months (+19%). But compared to Bitcoin, it’s still not exceptional:
Ethereum performance against different pairs. Source: Coincheckup
It’s simple, the prince of cryptocurrencies is in the red against bitcoin for six months. Despite some attempts to overcome ETH continues to lag behind.
Finally Demand for Ethereum Spot ETF?
The price of Ethereum has trying to explode like 2021. In fact, while the price of Bitcoin is moving almost 30% past its last peak in 2021Ethereum still needs rise almost 60% to recapture the 2021 ATH. ETH enthusiasts are getting impatient, but Spot ETFs are encouraging :
THE the start was quite chaotic with very low inputs compared to what Bitcoin experienced in its early days. But for a few days demand increases. Since November 6, it has happened six days in a row in the green quite soon 800 million dollars records. And November isn’t over yet…
ETH price is breathing and holding above $3000
PUSH break $2,700 on ETH allowed during climb to $3,500. Buyers clearly have control over price again, albeit a price it breathes with a drop of more than 10% from above :
THE institutional bias (EMA 9/EMA 18) is bullishand the course could knock back around $3,000. Now, if the price does not respond to support of $3,100return to additional support at $2,900 is entirely possible. In order to resume the rise, it will be necessary to close last high at $3,450. The course benefits from bullish momentumwith RSI above bullish trend line.
Ethereum price corrects recent rally but remains bullish. Furthermore, ETH could find a bounce around $3,000 and continue its climb towards $4,000. But for that, it will be necessary to overcome the last peak around $3,500. We should also prevent the Fed from coming to cause trouble!
