Ethereum (ETH) Corrects Lower, Why 100 SMA Could Trigger Fresh Rally

Ethereum extended its rise and traded close to $2,900 against the US Dollar. ETH price is correcting gains and it is likely to remain strong above the 100 hourly SMA Ethereum failed to clear the $2,900 level and it corrected lower from $2,885. The price is still holding the $2,700 support and the 100 hourly simple moving average. There was a break below a short-term bullish trend line with support near $2,750 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a strong increase as…

Curve (CRV) sees 150% rebound as DeFi bottoms and ETH gas fees drop

DeFi tokens and protocols took a heavy hit on May 19 as Bitcoin price dropped to $30,000 and while BTC has entered what some analysts describe as a ‘compression’ phase, the total value locked in DeFi and the value many of the sector’s tokens have yet to rebound to the levels seen before the market crash. Curve DAO token (CRV) stands among the few DeFi tokens that have seen a strong recovery over the past two weeks due to reduced Ethereum gas fees, the launch of Convex Finance and the…

Ethereum has strong fundamentals, so why are pro traders bearish on ETH?

Ether (ETH) has outperformed Bitcoin (BTC) by 32% since May and even though there has been a steady flow of bullish reports from JPMorgan and Goldman Sachs, derivatives metrics show elements of bearishness in both assets.  Ether and Bitcoin price change since May. Source: TradingView Bitcoin is trading 41% below its $64,900 all-time high and that move has driven the “Crypto Fear and Greed Index” to the lowest level since March 2020. While retail fears the dip, professionals such as global investment firm Guggenheim Investments have filed with the United…

Investors cautiously re-enter crypto funds while ETH vehicles show strength

A new report from analytics firm Coinshares shows that while the market dip may not have ended, prices are now at levels where stock market investors are once again showing signs of interest in digital asset funds.  A report published yesterday from Coinshares shows that multiple funds have begun seeing net inflows after weeks of record outflows in the wake of a crippling, market-wide crypto dip. In totally, legacy markets poured in $74 million into crypto investment vehicles, though not all products showed signs of strength. Cryptocurrencies show inflows after…

Here’s Why Ethereum (ETH) Could Surge Above $2.7K and Test $3K

Ethereum is stable above the $2,500 support zone and the 100 hourly SMA against the US Dollar. ETH price is likely to rally if there is a clear break above $2,700. Ethereum is trading in a positive zone above the $2,500 and $2,520 support levels. The price is now trading above $2,600 and the 100 hourly simple moving average. There was a break above a short-term contracting triangle with resistance near $2,600 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a steady increase if…

Institutional investors load up ETH, with its share of AUM hitting a new record

Institutional demand for Ethereum continues to surge, with Ether products now representing more than one quarter of the assets under management (AUM) of crypto investment products. According to CoinShares’ June 1 Digital Asset Fund Flows Weekly report, the past week saw significant institutional inflows of $74 million as investors sought to capitalize on the fall out from the recent crash in which many crypto assets lost more than 50% of their value. More than 63% of institutional inflows were injected into Ether products, or $46.8 million of the total. Ether…

Ethereum Gains Traction, Why ETH Could Soon Retest $3K

Ethereum gained pace above the $2,550 resistance zone against the US Dollar. ETH price is trading in a positive zone and it could rally if it breaks the $2,750 resistance. Ethereum is slowly moving higher and it broke the key $2,500 resistance zone. The price is now trading well above $2,500 and the 100 hourly simple moving average. There is a key rising channel forming with support near $2,640 on the hourly chart of ETH/USD (data feed via Kraken). The pair could accelerate higher if it breaks the main $2,750…