{"id":322893,"date":"2023-06-25T12:00:39","date_gmt":"2023-06-25T06:30:39","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=322893"},"modified":"2023-06-25T20:10:38","modified_gmt":"2023-06-25T14:40:38","slug":"ethereum-despite-declining-trends-bullish-hopes-rise","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/ethereum-despite-declining-trends-bullish-hopes-rise\/","title":{"rendered":"Ethereum: Here&#8217;s the silver lining to its declining trends"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">ETH price hovered around $1,890, inching closer to the $1,900 price zone.<\/span><\/em><\/li>\n<li><em><span style=\"font-weight: 400;\">ETH supply on exchanges continued to decline, reaching a record low.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Ethereum [ETH] trended sideways for weeks and eventually slid. However, it has embarked on an upward trajectory, breathing new life into the market. Nevertheless, amidst this surge, the available supply of Ethereum on exchanges has been steadily dwindling, adding an intriguing twist to the unfolding narrative.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">Read <a href=\"http:\/\/ambcrypto.com\/predictions\/ethereum-price-prediction\" target=\"_blank\" rel=\"noopener\">Ethereum&#8217;s [ETH] Price Prediction<\/a> 2023- 24<\/p>\n<hr \/>\n<h4><b>Ethereum maintains a bull trend<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Looking at the daily timeframe chart of <a href=\"http:\/\/ambcrypto.com\/ethereum-can-bulls-reach-2000-this-time\/\" target=\"_blank\" rel=\"noopener\">Ethereum<\/a> revealed an intriguing journey that began around 15 June when it initiated its upward surge. Since then, it has accumulated growth of over 16% in value. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">As of this writing, Ethereum hovered around the $1,890 mark, exhibiting a slight dip in value.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, on 23 June, it concluded the trading session with a noteworthy addition of 1.10%. While it has yet to reclaim the $2,000 price range, an exciting development unfolded as it successfully shattered the resistance posed by its short Moving Average (yellow line) around the $1,820 price zone. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This breakthrough indicated a positive shift in the prevailing trend.\u00a0<\/span><\/p>\n<figure id=\"attachment_322939\" aria-describedby=\"caption-attachment-322939\" style=\"width: 1491px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/ETHUSD_2023-06-24_13-14-42.png\"><img decoding=\"async\" class=\"wp-image-322939 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/ETHUSD_2023-06-24_13-14-42.png\" alt=\"Ethereum\/USD price move\" width=\"1491\" height=\"678\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/ETHUSD_2023-06-24_13-14-42.png 1491w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/ETHUSD_2023-06-24_13-14-42-300x136.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/ETHUSD_2023-06-24_13-14-42-1024x466.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/ETHUSD_2023-06-24_13-14-42-768x349.png 768w\" sizes=\"(max-width: 1491px) 100vw, 1491px\" \/><\/a><figcaption id=\"caption-attachment-322939\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The press time price trajectory has also propelled Ethereum into a bull run, as evidenced by its Relative Strength Index (RSI). As of this writing, the RSI line stood above 60, signifying a strong bullish trend.<\/span><\/p>\n<h4><b>Ethereum on exchanges declines<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Despite Ethereum&#8217;s valiant efforts toward recovery, a fascinating phenomenon persists\u2014the dwindling supply of <a href=\"http:\/\/ambcrypto.com\/users-move-ethereum-out-of-exchanges-in-favor-of\/\" target=\"_blank\" rel=\"noopener\">ETH<\/a>\u00a0on exchanges. <a href=\"https:\/\/app.santiment.net\/charts\/ReQ0wUOJ__sCl\" target=\"_blank\" rel=\"noopener\">Santiment&#8217;s<\/a> data revealed that the supply on exchanges, as a percentage of the total supply, had reached an all-time low. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">As of this writing, this supply had declined to approximately 9.1%, marking its lowest level since Ethereum&#8217;s inception.<\/span><\/p>\n<figure id=\"attachment_322941\" aria-describedby=\"caption-attachment-322941\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-12.45.07-24-Jun-2023.png\"><img decoding=\"async\" class=\"wp-image-322941 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-12.45.07-24-Jun-2023.png\" alt=\"Ethereum supply on exchanges\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-12.45.07-24-Jun-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-12.45.07-24-Jun-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-12.45.07-24-Jun-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-12.45.07-24-Jun-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-12.45.07-24-Jun-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-12.45.07-24-Jun-2023-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-322941\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The decline in supply commenced back in January, but it was during May that a sharp downturn became apparent. This downward trajectory has persisted until now, further deepening the scarcity of Ethereum available on exchanges.\u00a0<\/span><\/p>\n<h4><b>ETH profitability for long-term holders<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Examining the profitability of <a href=\"http:\/\/ambcrypto.com\/ethereum-defi-gives-off-concerning-signals-details-inside\/\" target=\"_blank\" rel=\"noopener\">Ethereum<\/a> for long-term holders revealed that, despite the recent uptrends, they have yet to translate into profitability for these holders. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">As of this writing, the two-year Market Value to Realized Value ratio (MVRV) had dipped below zero, standing at -10% at press time. This indicated that individuals who have held onto ETH during this specific held at a loss.<\/span><\/p>\n<figure id=\"attachment_322943\" aria-describedby=\"caption-attachment-322943\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-12.44.49-24-Jun-2023.png\"><img decoding=\"async\" class=\"wp-image-322943 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-12.44.49-24-Jun-2023.png\" alt=\"ETH 2-year MVRV\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-12.44.49-24-Jun-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-12.44.49-24-Jun-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-12.44.49-24-Jun-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-12.44.49-24-Jun-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-12.44.49-24-Jun-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-12.44.49-24-Jun-2023-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-322943\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">However, there remained a glimmer of hope. A sustained increase in value could potentially propel these holders into a more profitable zone, alleviating their loss position at press time.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Furthermore, traders, as per data provided by <a href=\"https:\/\/www.coinglass.com\/currencies\/ETH\" target=\"_blank\" rel=\"noopener\">CoinGlass<\/a>, held optimistic expectations for an impending price surge. As of this writing, the funding rate on CoinGlass stood in positive territory. <\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">Is your portfolio green? Check out the <a href=\"http:\/\/ambcrypto.com\/calculator\/ethereum-profit-calculator\" target=\"_blank\" rel=\"noopener\">Ethereum Profit Calculator<\/a><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">This was a significant indicator of positive sentiment among traders actively taking long positions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It is worth noting that a price rise could further enhance the positivity of the funding rate, potentially attracting more traders to take long positions. Conversely, a price decline would cause a substantial number of positions to be liquidated.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum&#8217;s triumphant ascent breathes new life into the market, yet the dwindling exchange supply adds intrigue. Long-term holders seek profitability amidst challenges.<\/p>\n","protected":false},"author":76,"featured_media":322947,"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-322893","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 v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Ethereum: Here&#039;s the silver lining to its declining trends - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Ethereum traders expect prices to rise as they take long positions; supply on exchanges has however continued to decline.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/ethereum-despite-declining-trends-bullish-hopes-rise\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum: Here&#039;s the silver lining to its declining trends - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"Ethereum&#039;s triumphant ascent breathes new life into the market, yet the dwindling exchange supply adds intrigue. 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