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The 10-day trend of Ethereum (Ether) currency has fallen sharply. The price of Ethereum fell to the price of $ 2,300 during today’s Asian trading session, but this does not mean that we are facing gloomy expectations.
Spot Ethereum ETFs recorded $75.9 million in outflows on April 23, abruptly ending a 10-day run of gains. Yesterday’s figures are considered weak compared to the previous quarter, which saw a total of $ 96.4 million, which represents a negative change of $ 172.3 million in one day.
In contrast, Spot Bitcoin ETFs attracted nearly $223 million that day, extending their eight-day high. Strategy’s recent purchases, totaling $2.54 billion, also provided additional support to the Bitcoin side of the market.
With $8.6 billion worth of Bitcoin and Ethereum options expiring today, and Bitcoin dominance holding 60%, the focus has suddenly returned to ETH/BTC trading.
Ethereum Price Prediction: Is $2,500 Never Reached?
Ethereum opened the day’s trading at $2,375 before dropping to $2,310 early in the morning, a move that brought the price below the uptrend level of $2,400, which the bulls needed to bounce back from. Binance analysts indicate that the level of $ 2,500 represents a critical point, warning that the failure to break the resistance level may open the way down to $ 2,200.
Sales within 24 hours fell by 8% to about $ 17 billion, which could mean that the capitulation phase is still there. The Fear and Greed Index stands at 39 (fear), which is much better than it was during last month’s Great Fear. As for the Relative Strength Index (RSI), it writes around 58, which is a neutral point, which leaves room for movement in both directions.
If Ethereum can recover the level of $ 2,400 when the trading volume resumes, it will not only affect $ 2,500, but it will try to test the upper resistance levels between $ 2,800 and $ 3,000.
The expiration of options on April 24 adds an element of temporary volatility; The price can fluctuate in both directions before the contracts are finalized and a clear strategy is determined. Therefore, they are advised to be careful.
LiquidChain: Liquidity equivalent to Ethereum currency
The end of the rope for the Ethereum wallet moving between the bull rush is a useful reminder: even a stock with real stability can be shaken on false crossovers. The practice of early stage projects tends to increase as more resources run out of resistance, which is important to consider.
Project analysis LiquidChain ($LIQUID) As the foundation of Layer 3, it positions itself as a small part of the integrated system, combining Bitcoin, Ethereum, and Solana liquidity into a single execution point. This allows developers to use a single application and access all three machines at the same time, solving one of the most difficult problems in DeFi: the distribution of funds on decentralized networks.
“Unified liquidity layer” and “one-step execution” are the prominent features of this project. The pre-sale of the project has managed to collect 700 thousand dollars So far at the current price of $0.01452 For each LIQUID token. And don’t forget the most precious things yet 1400% per annum For first time buyers.
A note Ethereum falls to $2,300 after ETF stops appeared for the first time Cryptonews Arabic.