has been experiencing a decline in price over the last few days. However, despite these declines, the exchange outflow and accumulation metrics have been moving in opposite directions. What does this mean for the ETH trend?price trend on a daily time frame showed that it experienced its biggest daily decline in over a month on 11th June.
The chart indicated that its price dropped by almost 4.6%, falling from over $3,600 to around $3,500. This decline marked the peak of the capitulation that had been occurring over the last seven days.The analysis showed that these declines pushed Ethereum into a bear trend, as its Relative Strength Index fell below the neutral line. As of this writing, the RSI remained below the neutral line.
Additionally, the price has seen a slight recovery with an increase of over 1%, trading at around $3,500. The short moving average continued to provide support at around $3,300.An analysis of whale addresses on Santiment showed that these addresses have continued to accumulate asThe chart indicated that the number of addresses holding 10,000 to 100,000 ETH rose from 1,040 to 1,049 as of this writing.
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Source: CryptoAmb - 🏆 22. / 68 Read more »
Source: CryptoAmb - 🏆 22. / 68 Read more »