Ethereum
Crucial Signal for Bitcoin (BTC), $3,000 Is Now or Never for Ethereum (ETH), Toncoin (TON) Whales Buy 13 Million in 2 Days by U.Today
U.Today’s trading volume has made a comeback that few expected as market sentiment remains depressed. However, many altcoins have seen inflows from larger institutional investors, and the improvement in market sentiment is a good sign.
The increase in interest and activity in the Bitcoin market can be inferred from the increase in trading volume. Large price movements, both upwards and downwards, are often preceded by higher volumes. The increase in trading volume in this case indicates that there may be renewed interest and room for price movement in Bitcoin.
The renewed confidence of institutional investors could be one of the main reasons for this increase in trading volume. Major market participants have made considerable investments in a number of altcoins in recent weeks.
This influx of capital has likely helped create a positive atmosphere that has also permeated Bitcoin trading. Moreover, a possible bullish trend is also supported by Bitcoin’s technical indicators, at present. As it moves out of the oversold zone, the relative strength index, or RSI, is starting to recover.
keep pushing
Ethereum has broken through the $3,000 threshold again and may finally be regaining the confidence needed to continue the rally. However, there is one problem: the major resistance level at the 200 EMA.
The market is feeling more bullish now that it has broken above $3,000. Ethereum could show signs of renewed confidence from buyers if it manages to break through this psychological barrier. However, this confidence is not unshakeable, especially given the looming resistance at the 200 EMA.
A popular technical indicator, the 200 EMA often serves as an important resistance or support level. At this point, Ethereum’s trajectory could either rise sharply or reverse completely. Ethereum’s current state is influenced by a variety of factors. First, there is a slow but steady improvement in overall market sentiment. Ethereum’s price action has been positively impacted by the recent surge in Bitcoin volume and institutional interest in altcoins.
Due to its wide range of applications and vibrant developer community, Ethereum continues to be a valuable asset for institutional investors, who are diversifying their holdings. On-chain indicators also show a mixed, cautiously optimistic picture.
It appears that the selling pressure is easing as Ethereum’s Relative Strength Index (RSI) has moved out of the oversold zone. The market remains cautious, even as buyers enter the market, as evidenced by the lack of a notable increase in trading volume. The broader macroeconomic environment is another important factor to consider.
Toncoin is heading towards recovery
Toncoin whales are pushing the asset forward, creating substantial buying support for the asset. After the most recent correction, whales are accumulating on the cheap TON available in the market. Here’s the lowdown on what’s happening under the hood.
According to recent data, there has been a notable increase in the number of large Toncoin transactions. The number of large transactions has increased over the past week, suggesting increased activity among major holders. In particular, nine large transactions have taken place in the past 24 hours, totaling 359,000 TON.
Whale activity has increased, indicating that investors are very optimistic about the future of Toncoin. The overall trading volume of TON has shown notable fluctuations in terms of volume. On July 6, 2024, the seven-day high was 962,000 TON, and on July 7, 2024, the seven-day low was 52,000 TON. This variation suggests that whales are buying more tokens during price drops, likely in the hopes that the price will increase in the future. The underlying whale activity has been reflected in the price movement of Toncoin.
Price resilience is demonstrated by its ability to bounce back from recent lows and maintain a position above important support levels. Because they show important support and resistance levels, the 50 EMA and 100 EMA are important indicators to watch. After recently hitting a low of around $7.09, TON is currently trading at around $7.28.