Daily trading volume for ethereum's ether (ETH) token hit a 12-month high on Thursday.
The second-largest cryptocurrency witnessed a 24-hour trading volume of $850,000 yesterday – the highest level since September 15, according to Bitfinex data. Further, the current weekly volume of $2.9 million is the highest since mid-December.
Meanwhile, 24-hour trading...
ETH/USD Shorts (Bitfinex) have officially reached a new all time high
Prior record high: 202854.7531
Current level: 208123.1093
As the market is manipulated by whales, the price of ETH might Rise from here
An inside bar Doji candlestick has formed on the #BTC 4-hour chart, signaling indecision at these levels.
A doji forming on top of support after a strong move downward with an oversold RSI suggests the indecision could resolve in bullish favor... time will tell.
ETH/USD Longs have reached the highest level in over 9 months, now within striking distance of a new all-time high
With longs nearing their ATH's a major move for #ethereum could be on the cards soon
Looking at longs/shorts history on Bitfinex, when longs stack up while shorts and prices are low, bullish ethereum price action tends to follow
Lets wait and see
Bitcoin weekly MACD has turned bullish for the first time this year, having charted a bullish crossover in July
This is one of the many indicators suggesting the worst days are likely behind us
A similar sentiment was echoed by record low net shorts in futures last week
ETH/USD 1D Chart Analysis
ETH has charted a pennant pattern
A downside break would signal bear revival and could yield a drop below $250 (recent low).
An upside break would confirm a short-term bull reversal.
Ripple is up 39% from the yearly low of $0.25 but is currently engaged in a period of consolidation as it refuses to budge
RSI shows weak momentum
MACD bear cycle on the hourly in full swing (momentum loss)
Something BIG is going on. Level of BTC SHORTS still raising, from a very high to a record level now!
1. Insiders using information about huge downward move ahead.
2. Short sellers FOMO, leading to a short squeeze as on April 12.
Expect $1,000 move soon.