ETHUSD (Ethereum) – Week 29 – Support and then upside?
According to Exame, the Brazilian Securities Commission (CVM) has approved the first exchange-traded fund (ETF) in Latin America that monitors the performance of Ethereum (ETH). On July 13, many months after approving a Bitcoin (BTC) ETF, Brazil's securities regulator authorized a product that mimics the performance of the second-largest cryptocurrency, ETH, with QR Asset Management as the fund's administrator.
According to a Dune Analytics dashboard developed to measure the overall number of DeFi users over time, the figure has already surpassed 3,000,000. @rchen8 built a dashboard a year ago that monitors the total number of unique addresses since DeFi was implemented. Over the course of two years, I've been tracking the DeFi wallets on Ethereum.
Vitalik Buterin, the co-founder of Ethereum, has become engaged in a documentary about him. The documentary will talk about the making of the world’s computer. Interviews with Buterin and other contributors who were active in the project early on will be included. The documentary film has been named Ethereum: The Infinite Garden. It will talk about the decentralized nature of Ethereum and its advantages. The film delves into the inner workings of the Ethereum network, as well as the ongoing updates.
Technically, Ethereum is close to the support area marked on the chart. We think the price will continue to the downside and touch the support area. From there we have to study the structure and see what will the next move be. We give a good probability for a bounce from support area, a bias strengthen by RSI divergence on the 4h timeframe. We will keep you updated.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
According to a Dune Analytics dashboard developed to measure the overall number of DeFi users over time, the figure has already surpassed 3,000,000. @rchen8 built a dashboard a year ago that monitors the total number of unique addresses since DeFi was implemented. Over the course of two years, I've been tracking the DeFi wallets on Ethereum.
Vitalik Buterin, the co-founder of Ethereum, has become engaged in a documentary about him. The documentary will talk about the making of the world’s computer. Interviews with Buterin and other contributors who were active in the project early on will be included. The documentary film has been named Ethereum: The Infinite Garden. It will talk about the decentralized nature of Ethereum and its advantages. The film delves into the inner workings of the Ethereum network, as well as the ongoing updates.
Technically, Ethereum is close to the support area marked on the chart. We think the price will continue to the downside and touch the support area. From there we have to study the structure and see what will the next move be. We give a good probability for a bounce from support area, a bias strengthen by RSI divergence on the 4h timeframe. We will keep you updated.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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