- ETH’s price is still holding up despite recent FUD.
- Analysts signaled the bottom of a market by flashing a buy sign on a key indicator.
Ethereum [ETH] The price of gold has been resilient in spite of the intensified fear mongering over recent months.
ETH underperforms its peers such as Bitcoin [BTC] You can also find out more about the following: Solana [SOL]Investors have been urged to switch from it to other investments.
Last week the ETH markets fell to levels not seen since August.
Source: Kaito
Income Sharks market analysis showed that ETH is still resilient. It appears to be ready to recover.
The resilience of ETH
Despite the recent market pullbacks and negative FUD, Income Shark determined that ETH’s structure was strong, with positive signals coming from Supertrend. He said,
“$ETH – Love that everyone says it’s over at the lows. Still making higher highs and higher lows. Supertrend still bullish.”
Source: Income Sharks
For context, a Supertrend is a simplified sell or buy indicator, and as of this writing, it flashed a ‘buy’ signal (green).
Also, an upward trend is always a signal of potential uptrend and breakout. Income Sharks suggested that ETH had painted a pattern similar to this one, which indicated a bottom was likely and a breakout could be possible.
Ali Martinez is a well-known analyst. believed The asset’s value could increase to $6000 if it stays over $2400.
Source: Hyblock
Whales were not that interested in ETH at the time this article was written.
Whales’ exposure to ETH has dropped since October 22nd, according to the Whales vs Retail Delta indicator.
Recent pullbacks were marked by sharp drops in whale interest. There was some slight positioning by whales at the time of press, but not enough to indicate a strong market and a possible market recovery for ETH.
Vitalik Buterin (co-founder of Ethereum) continues to make news. fight FUD aimed at the Ethereum network in particular, regarding his ETH sales and Ethereum Foundation activity.
ETH had a value of $2.4K as at the press time. ETH is still recovering, so it’s not clear if the FUD campaign will affect its recovery.
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Source: ambcrypto.com
