Recent Trends
Ethereum Price
is considered significant, according to CoinMarketCap data, it increased by 3.8% this week.
As of the time of writing, Ethereum’s trading price is around $1,860, with a market capitalization of over $23 billion. Despite the current unfavorable market conditions, many in the crypto community expect Ethereum to soon break the $2,000 mark.
Analysis of the Ethereum daily chart reveals a bullish trend, with the 20-day EMA above the 55-day EMA, as indicated by the exponential moving average (EMA) lines.
Furthermore, the Money Flow Index (MFI) is trending upwards, despite recent optimistic sentiment in the Ethereum market
Attack
Attacks on the network have resulted in a large amount of ETH being stolen through MEV bot transactions.
However, the Chaikin Money Flow (CMF) index is showing a decrease, with Bollinger Band volatility decreasing, which may limit the token price’s index-level growth in the short term.
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On the other hand, Ethereum chain indicators present a positive outlook, with lower net
deposits
The total number of active wallets on exchanges has increased by 25.83%.
Demand for Ethereum in the derivatives market is also high, with a significant decrease in its supply on exchanges in the past 30 days.
Considering all these factors, Ethereum seems likely to break the $2,000 mark in the near future, although there may be a few days of limited price fluctuations.