Sustained Uptrend as ETH Exchange Balance Declines
CryptoNewsTerminal Staff09 Aug, 2024
Sustained Uptrend as ETH Exchange Balance Declines
Continued Decline of Exchange ETH Balance May Sustain Uptrend ETH is trading below its 200-day moving average of $3,200. Facing resistance at $2,700, it may consolidate short-term before a significant move. A breakout above $2,700 could push the price towards the $3,000 resistance level. During the recent sell-off, many investors sold at a loss. However, the declining exchange ETH balance below its 30-day moving average suggests increasing demand. This trend may extend ETH's uptrend. Disclaimer: This article represents the author's opinion and should not be considered financial advice.
