Investor Optimism in Ethereum Grows – Is $2k Incoming as This ERC-20 Token Also Looks Bullish
The post Investor Optimism in Ethereum Grows – Is $2k Incoming as This ERC-20 Token Also Looks Bullish appeared on BitcoinEthereumNews.com. Ethereum’s (ETH) price has been on a steady uptrend in the last ten days, buoyed by growing institutional interest and optimism from retail investors. With ETH inching closer to $1,700, many analysts predict it could hit $2,000 before the end of 2023. Meanwhile, the new ERC-20 token Bitcoin Minetrix (BTCMTX) has also generated buzz after successfully raising $2 million in its ongoing presale phase. Ethereum Sentiment Shifts as Bulls Eye $2,000 The Ethereum Fear & Greed Index, a popular measure of market sentiment, currently sits at 55 – a noticeable shift towards “Greed” compared to recent neutral readings. This rise in sentiment coincides with Ethereum crossing the $1,600 barrier last Friday, with the token now hovering around $1,677 at the time of writing. ETH has posted three bullish daily closes in a row and is on track to post a fourth bullish close today, with the price sitting just below the 200-day Exponential Moving Average (EMA). Investors will be watching this area closely, as it acted as dynamic resistance on October 1 and forced the price down aggressively. However, Ethereum did post an entire bullish retracement candle on the weekly time frame last week, indicating that further upside movement could be imminent. This optimistic outlook is further supported by increased trading volumes, with CoinMarketCap data showing that over $7.5 billion worth of ETH was traded in the past 24 hours. ETH Faces Resistance at $1,750, Yet Momentum Remains Strong With Ethereum’s price looking resurgent, many analysts predict it will soon hit the $2,000 milestone. According to a recent analysis from FXEmpire, large institutional investors have gradually shifted their focus from Bitcoin to Ethereum. This shift is evidenced by on-chain data showing that US-based crypto whales have increased their buying interest in ETH to a 100-day peak, while interest in BTC…
The post Investor Optimism in Ethereum Grows – Is $2k Incoming as This ERC-20 Token Also Looks Bullish appeared on BitcoinEthereumNews.com.
Ethereum’s (ETH) price has been on a steady uptrend in the last ten days, buoyed by growing institutional interest and optimism from retail investors. With ETH inching closer to $1,700, many analysts predict it could hit $2,000 before the end of 2023. Meanwhile, the new ERC-20 token Bitcoin Minetrix (BTCMTX) has also generated buzz after successfully raising $2 million in its ongoing presale phase. Ethereum Sentiment Shifts as Bulls Eye $2,000 The Ethereum Fear & Greed Index, a popular measure of market sentiment, currently sits at 55 – a noticeable shift towards “Greed” compared to recent neutral readings. This rise in sentiment coincides with Ethereum crossing the $1,600 barrier last Friday, with the token now hovering around $1,677 at the time of writing. ETH has posted three bullish daily closes in a row and is on track to post a fourth bullish close today, with the price sitting just below the 200-day Exponential Moving Average (EMA). Investors will be watching this area closely, as it acted as dynamic resistance on October 1 and forced the price down aggressively. However, Ethereum did post an entire bullish retracement candle on the weekly time frame last week, indicating that further upside movement could be imminent. This optimistic outlook is further supported by increased trading volumes, with CoinMarketCap data showing that over $7.5 billion worth of ETH was traded in the past 24 hours. ETH Faces Resistance at $1,750, Yet Momentum Remains Strong With Ethereum’s price looking resurgent, many analysts predict it will soon hit the $2,000 milestone. According to a recent analysis from FXEmpire, large institutional investors have gradually shifted their focus from Bitcoin to Ethereum. This shift is evidenced by on-chain data showing that US-based crypto whales have increased their buying interest in ETH to a 100-day peak, while interest in BTC…
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