{"id":263915,"date":"2022-10-14T13:00:18","date_gmt":"2022-10-14T07:30:18","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=263915"},"modified":"2022-10-14T10:24:45","modified_gmt":"2022-10-14T04:54:45","slug":"ethereum-eth-traders-can-go-long-next-week-thanks-to","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/ethereum-eth-traders-can-go-long-next-week-thanks-to\/","title":{"rendered":"Ethereum [ETH] traders can go long next week, thanks to&#8230;"},"content":{"rendered":"<p><a href=\"http:\/\/ambcrypto.com\/ethereums-post-merge-report-might-get-you-excited-for-q4\/\">Ethereum [ETH]<\/a> is having yet another bearish week as the crypto bears retain dominance over the market. Here are some of the latest observations that may offer insights into ETH\u2019s demand and supply dynamics. Especially, now that everyone is wondering about the market&#8217;s next move.<\/p>\n<hr \/>\n<p style=\"text-align: center;\">Here&#8217;s AMBCrpto&#8217;s <a href=\"http:\/\/ambcrypto.com\/predictions\/ethereum-price-prediction\">price prediction for Ethereum (ETH)<\/a><\/p>\n<hr \/>\n<p>Some of Glassnode\u2019s latest alerts highlight interesting observations pertaining to Ethereum. For example, the number of <a href=\"http:\/\/ambcrypto.com\/ethereum-addresses-surge-but-can-it-benefit-eths-price\/\">ETH addresses<\/a> holding at least one ETH reached a new all-time high at 1.59 million addresses.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udcc8 <a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw\">#Ethereum<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a> Number of Addresses Holding 1+ Coins just reached an ATH of 1,590,198<\/p>\n<p>View metric:<a href=\"https:\/\/t.co\/IuKpD49gML\">https:\/\/t.co\/IuKpD49gML<\/a> <a href=\"https:\/\/t.co\/apvPimJD03\">pic.twitter.com\/apvPimJD03<\/a><\/p>\n<p>&mdash; glassnode alerts (@glassnodealerts) <a href=\"https:\/\/twitter.com\/glassnodealerts\/status\/1580487313389670402?ref_src=twsrc%5Etfw\">October 13, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>This observation confirms that investors are accumulating ETH at lower prices. At this rate, it is only a matter of time until demand overwhelms the selling pressure, causing an inflection. This is assuming that those addresses do not panic sell.<\/p>\n<figure id=\"attachment_263922\" aria-describedby=\"caption-attachment-263922\" style=\"width: 1800px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/glassnode-studio_eth-addresses-with-balance-1-1.png\"><img decoding=\"async\" class=\"wp-image-263922 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/glassnode-studio_eth-addresses-with-balance-1-1.png\" alt=\"\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/glassnode-studio_eth-addresses-with-balance-1-1.png 1800w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/glassnode-studio_eth-addresses-with-balance-1-1-300x169.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/glassnode-studio_eth-addresses-with-balance-1-1-1024x576.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/glassnode-studio_eth-addresses-with-balance-1-1-768x432.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/glassnode-studio_eth-addresses-with-balance-1-1-1536x864.png 1536w\" sizes=\"(max-width: 1800px) 100vw, 1800px\" \/><\/a><figcaption id=\"caption-attachment-263922\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p>Interestingly, selling pressure also demonstrated signs of slowing down. The number of sending addresses dropped to 12,157.589, the lowest level in the last three months.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udcc9 <a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw\">#Ethereum<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a> Number of Sending Addresses (7d MA) just reached a 3-month low of 12,157.589<\/p>\n<p>Previous 3-month low of 12,210.286 was observed on 02 September 2022<\/p>\n<p>View metric:<a href=\"https:\/\/t.co\/JCCfrCgnG9\">https:\/\/t.co\/JCCfrCgnG9<\/a> <a href=\"https:\/\/t.co\/ynDUYDhSQo\">pic.twitter.com\/ynDUYDhSQo<\/a><\/p>\n<p>&mdash; glassnode alerts (@glassnodealerts) <a href=\"https:\/\/twitter.com\/glassnodealerts\/status\/1580487308083486720?ref_src=twsrc%5Etfw\">October 13, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>ETH had a favorable net outflow from exchanges, at press time. Exchange outflow volumes outweighed inflow volumes by more than 24,000 ETH. This equates to roughly $30 million worth of outflows from exchanges.<\/p>\n<figure id=\"attachment_263921\" aria-describedby=\"caption-attachment-263921\" style=\"width: 1800px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/glassnode-studio_eth-receiving-addresses-eth-sending-addresses.png\"><img decoding=\"async\" class=\"wp-image-263921 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/glassnode-studio_eth-receiving-addresses-eth-sending-addresses.png\" alt=\"\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/glassnode-studio_eth-receiving-addresses-eth-sending-addresses.png 1800w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/glassnode-studio_eth-receiving-addresses-eth-sending-addresses-300x169.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/glassnode-studio_eth-receiving-addresses-eth-sending-addresses-1024x576.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/glassnode-studio_eth-receiving-addresses-eth-sending-addresses-768x432.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/glassnode-studio_eth-receiving-addresses-eth-sending-addresses-1536x864.png 1536w\" sizes=\"(max-width: 1800px) 100vw, 1800px\" \/><\/a><figcaption id=\"caption-attachment-263921\" class=\"wp-caption-text\">Source: Glassnode<\/figcaption><\/figure>\n<p>ETH demonstrated a considerable amount of <a href=\"http:\/\/ambcrypto.com\/ethereum-sees-this-bearish-order-block-for-traders-to-sell-at\/\">sell pressure<\/a> despite the accumulation. Sending addresses still outweighed receiving addresses despite a notable drop in the last three days. Notably, receiving addresses registered a net increase during the same 3-day period.<\/p>\n<h3><strong>Can the bulls win the fight?<\/strong><\/h3>\n<p>ETH bears managed to push the price below September\u2019s support line in the last 24 hours, at press time. It dropped as low as $1190 before a sizable pullback.<\/p>\n<p>The latter confirms that there was strong incoming buying pressure after crossing below the short-term support near the $1250 level.<\/p>\n<figure id=\"attachment_263917\" aria-describedby=\"caption-attachment-263917\" style=\"width: 1196px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/ETHUSDT_2022-10-13_19-23-55.png\"><img decoding=\"async\" class=\"wp-image-263917 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/ETHUSDT_2022-10-13_19-23-55.png\" alt=\"\" width=\"1196\" height=\"568\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/ETHUSDT_2022-10-13_19-23-55.png 1196w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/ETHUSDT_2022-10-13_19-23-55-300x142.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/ETHUSDT_2022-10-13_19-23-55-1024x486.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/ETHUSDT_2022-10-13_19-23-55-768x365.png 768w\" sizes=\"(max-width: 1196px) 100vw, 1196px\" \/><\/a><figcaption id=\"caption-attachment-263917\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<p>ETH had already pulled back above the same short-term support level, at press time. This reflects the strong demand that the cryptocurrency garnered after dropping below the same level.<\/p>\n<p>Investors should now keep an eye out on whether demand will continue increasing, as well as whether sell pressure will taper out.<\/p>\n<h3><strong>What to expect moving forward<\/strong><\/h3>\n<p>Some of the aforementioned metrics have already confirmed substantial accumulation near the current lows. A continued increase in demand may <a href=\"http:\/\/ambcrypto.com\/ethereum-traders-could-have-a-lot-to-look-forward-to-owing-to-these-developments\/\">flip the narrative<\/a> in favor of the bulls and support a sizable upside.<\/p>\n<p>On the other hand, investors should also look out for the possibility of capitulation if ETH fails to secure enough volume for a relief rally.<\/p>\n<p>Current sentiment is in favor of a bullish outlook. Funding rates indicate that the derivatives market has rapidly shifted after the latest bearish outcome.<\/p>\n<figure id=\"attachment_263916\" aria-describedby=\"caption-attachment-263916\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/Ethereum-ETH-19.47.11-13-Oct-2022.png\"><img decoding=\"async\" class=\"wp-image-263916 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/Ethereum-ETH-19.47.11-13-Oct-2022.png\" alt=\"\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/Ethereum-ETH-19.47.11-13-Oct-2022.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/Ethereum-ETH-19.47.11-13-Oct-2022-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/Ethereum-ETH-19.47.11-13-Oct-2022-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/Ethereum-ETH-19.47.11-13-Oct-2022-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/Ethereum-ETH-19.47.11-13-Oct-2022-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/Ethereum-ETH-19.47.11-13-Oct-2022-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-263916\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p>Both the DYDX and the Binance funding rates have recovered, confirming that derivatives demand has increased near the lower range.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum [ETH] is having yet another bearish week as the crypto bears retain dominance over the market. Here are some of the latest observations that may offer insights into ETH\u2019s demand and supply dynamics. Especially, now that everyone is wondering about the market&#8217;s next move. Here&#8217;s AMBCrpto&#8217;s price prediction for Ethereum (ETH) Some of Glassnode\u2019s<a href=\"https:\/\/ambcrypto.com\/ethereum-eth-traders-can-go-long-next-week-thanks-to\/\">Continue reading <span class=\"sr-only\">&#8220;Ethereum [ETH] traders can go long next week, thanks to&#8230;&#8221;<\/span><\/a><\/p>\n","protected":false},"author":63,"featured_media":263923,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,32,66,3,4,20],"tags":[],"class_list":["post-263915","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-ethereum-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Ethereum [ETH] traders can go long next week, thanks to... - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Ethereum [ETH] is having yet another bearish week as the crypto bears retain dominance over the market. 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