Ethereum Hits Yearly Low as Investors Flood Exchanges
- Downward Price Trend: Ethereum has underperformed recently, with breakout attempts halted at $2,400, and today's drop below the crucial $2,200 support indicates a bearish market sentiment that could lead to further selling pressure.
- ETH/BTC Low Point: The ETH/BTC trading pair has dropped to a 10-month low under 0.028, reflecting Ethereum's relative weakness in the market, despite Tom Lee's continued large-scale purchases of Ethereum tokens each week.
- Large Transfers to Exchanges: Over 500,000 ETH, worth more than $1.1 billion, were sent to exchanges in the past week, which could intensify short-term selling pressure as traders typically transfer tokens to cash out.
- Market Analysis Warning: Analysts have noted that the TD Sequential indicator has flashed a sell signal, suggesting Ethereum may face a more significant decline, with a worst-case scenario projecting a drop below $1,100, prompting investors to navigate market volatility cautiously.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for SATS
Technical Sentiment Analysis for SATS (Ordinals) (SATS). As of , SATS (Ordinals) (SATS) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SATS stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, SATS is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
SATS (Ordinals) (SATS) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0000000103 | 0.0000000112 | 0.0000000122 | 0.0000000131 | 0.000000014 | 0.0000000149 | 0.0000000159 |
| Fibonacci | 0.0000000112 | 0.0000000119 | 0.0000000124 | 0.0000000131 | 0.0000000138 | 0.0000000142 | 0.0000000149 |
About SATS
About the author
