Futures
Hundreds of contracts settled in USDT or BTC
TradFi
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Futures Kickoff
Get prepared for your futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to experience risk-free trading
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Launchpad
Be early to the next big token project
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
- Retail traders for ETH are distributing alongside American investors:
However, the buying momentum among large and small investors is met with intense distribution by retail traders. Digital asset wallets holding between 100 and 1,000 ETH, and those holding between 1,000 and 10,000 ETH, sold a total of 830,000 ETH last week.
Ethereum holdings by holder value. Source: CryptoQuant
A similar activity is observed in the Coinbase Premium index, which measures the difference between the ETH price on Coinbase Pro and Binance. The index sharply declined again last week after a brief rebound at the beginning of the year, indicating increased selling by American investors.
Additionally, Ethereum investment products experienced outflows of $116 million last week, according to CoinShares data.
Ethereum's network experienced $52.5 million in futures liquidations over the past 24 hours, led by long positions totaling $30.6 million, according to Coinglass data.
Ethereum is currently testing the 20-day exponential moving average, which is above the psychological support level of $3000, a support level maintained throughout the weekend. Meanwhile, this leading altcoin faces resistance near the 50-day exponential moving average at around $3130.
Daily ETH/USDT Chart
A strong move above the 50-day EMA could push ETH to test the resistance level at $3260, which is just below the 100-day EMA, that caused prices to decline last Wednesday.
A breakdown below the 20-day EMA could find support for Ethereum near $2900.
The Relative Strength Index (RSI) and the Stochastic (Stoch) are trending downward and testing their neutral levels. A sharp decline below these levels could accelerate the bearish momentum.