ETHEREUM prices rise – but what stops ETH to $ 3400 star-news.press/wp

Main meals

• Ethereum rose to $ 2967 after short liquidation and upscale macro data. Rausing reserves for exchange, whale accumulation, and strong derivatives in bullish support mode, although excessive signals may lead to short -term resistance near $ 3,000

ETHEREUM (ETH) The price rose sharply after two events for a short filter near 2.7 thousand dollars and 3 thousand dollars, resulting in the statements of the unemployed demands in the United States issued on July 10.

this Data He surprised the market by reaching without expectations, indicating economic flexibility and reducing stagnation. As a result, the aggressive purchase was forced on Binance with thin liquidity huge short boxes.

At the time of the press, ETH was traded about $ 2,967, which prompted the open interest to nearly $ 7 billion.

This dynamic reflects a renewed influence of traders who expect the continuous upward trend, as total economic optimism has been combined through high -end assets such as encryption.

Source: Cryptoquant

Do reserves reduce the theater exchange for further bullish direction?

Meanwhile, Ethereum Exchange reserves decreased by 2.03 % to $ 56 billion, indicating low pressure side pressure. Low reserves often indicate the intention of the investor to keep them, especially during the stages of upward feelings.

With fewer coins available on stock exchanges, the market becomes more sensitive to nails. This condition is in line with the gathering that is moved by the last derivatives, as the ETH was broken over the resistance levels.

The shrinking reserves indicate that the scarcity of supply may enhance ETHEREUM bullish momentum, especially if Longs continues to benefit from markets in future markets over the next few sessions.

Source: Cryptoquant

Do the whales silently support the next stage of Ethereum?

However, the accumulation of the whale has also strengthened the oud Ethereum look. INTOTHEBLOCK Data A noticeable increase of 18.95 % in Netflows is a big pregnant woman over the past seven days.

Despite price fluctuations, large entities continue to absorb ETH, which are likely to bet on the broader upward trend after the Macro signals.

These flows reflect the increasing condemnation of experienced investors, which are likely to be in the foreground more incentives.

With the ETH detention with firmness above 2900 dollars, the stimulation of the whale adds a strong basis to the chain that may settle on the price and provide the next penetration above 3 thousand dollars.

Source: IntTHEBLOCK

Is the derivative market flashing a long, aggressive bias?

Therefore, the derivative data reveals clear upscale feelings. The weighted financing rate for ETH OI increased after issuing unemployed claims, indicating high demand for long jobs.

High positive financing rate indicates that traders pay a bonus to maintain long exposure, which reflects the expectations of continuous gains.

This height reflects the previous penetration patterns, as the leverage is built quickly after Macro’s surprise.

If funding remains high and unstable, Ethereum may maintain its momentum without immediate correction, despite being cautious.

Source: Coinglass

Will ETH bulls exceed $ 3,000 or kiosk in Key Fibonacci resistance?

In addition, Ethereum is approaching a critical resistance area in the extension of 1.618 Fibonacci near $ 3,000.

FIB projection, derived from the last gathering structure, puts future resistance with $ 3,457 and $ 3,870.

While the price movement is still upward, the RSI Stochastic Time Time Stochastic of 100 Reads indicates that ETH was at the height of the purchase.

Traders should remain cautious about short -term decline.

However, if ETH is more than $ 3000 with a strong size, the stage can be set for the following FIB goals.

Source: TradingView

Can Ethereum maintain its gathering, or is the slowdown?

Thus, the Ethereum gathering appears to be supported by a strong mixture of overall stimuli, whale accumulation, and the location of the upright derivatives.

While reducing the stock exchange reserves and positive financing enhances the issue for the continuation of the upward trend, technical indicators show that ETH may soon face resistance near $ 3,000.

Whether the bulls can maintain this momentum depends on maintaining the purchase pressure and supporting the macro.

The successful face of 3,000 dollars in support may open the path to 3400 dollars, but failure to break the resistance may lead to a short -term slowdown.