The main dishes to remember:
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Confirmation of the Ether Taurus flag on the daily graphic graphics target 34% of $ 6,100 gains.
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The percentage of the ETH offer maintained on the scholarships fell to 12% for the first time since 2016.
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The impoverishment of ETH supply on exchanges indicates “supply pressure” and long -term accumulation.
The price of ether (ETH) recorded a multi -year summit of $ 4,792 Thursday after an increase of 45% compared to its hollow of August 3 3,354. The price is now consolidated below its level of $ 4,867 after having validated a classic optimistic continuation model.
Can Ether’s price increase by 34% in the coming days?
Ether’s “Taurus flag” alludes to $ 6,000
ETH rallied more than 126% between June 22 and August 14 to reach a multi -year summit just below $ 4,800. The latest rally saw the price rape the resistance provided by the upper limit of a bull flag at $ 3,770 on the daily graph, confirming a bullish break.
In relation: Blackrock Bitcoin, Ether ETF, buys $ 1 billion because the BTC price mainly fills CME GAP
A bull flag is a continuing model that occurs after a significant increase, followed by a period of consolidation at the end of the higher price of the beach.
Ether confirmed a “Manuel Taurus flag” in the daily time, said Trader Mister Crypto in a previous analysis on X.
“The goal is $ 6,000.”
As Cointelegraph has reported, the bulls are now focusing on the eTH thrust above a key resistance at $ 4,700. Such a decision could potentially lead to lightness for Ether, measured at $ 6,150 or 34% compared to its current price level.
However, it is important to note that the success rate of a Haussier pennant is only about 54%, making it one of the least reliable models.
More ambitious projections have been made by other analysts, citing the increase in institutional demand through ETF and cash and ethors companies, which represents the ETH summit between $ 12,000 and $ 30,000.
The percentage of ETH on exchanges falls to a new hollow
The ETH ETH offer on the scholarships fell to a nine -year -old hollow, falling to 12.36% for the first time since July 2016, according to Glassnod data.
The decrease in the Ether offer on exchanges can point out a rally of incoming prices fed by a “shock of the offer”, which occurs when the high demand from buyers meets the decrease in available ETH.
“Only 18.5 million Ethereum left on the scholarships,” said popular merchant Merlijn the merchant in a Friday article on X.
The merchant attributed this to the aggressive purchase by ETF issuers and ETF cash companies, adding:
“When the rarity meets demand, the price does not happen on the side. Deletion of the incoming offer. “
Coupled with more than 35.7 million ETH marked (30% of the offer), according to data from ultrasound money, this “compression of the offer” signals a strong sentence for holder and reduced sales pressure.
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.