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Ethereum-Eth Attentions Price: What are the latest blockchain data for around $ 20,000, and why does currency collection accelerate?

Ethereum was exchanged at around $ 4,760 during the first European session yesterday, while the price maintains its stability after a sharp increase of $ 4,100 earlier this month. This price decision has aroused renewed controversy between traders and analysts; Is it just a state of relative stability of Ethereum, or is it the start of a sustainable emerging trip to a sign of $ 20,000?

Ethereum technical analysis: emerging banner and penetration

In the technical analysis, the price of Ethereum is gaining momentum, which supports the expectations of the emerging Ethereum price. The price movement has formed the Harmonic Ascendant ABCD model because it is confirmed at $ 4,900 to a strong purchase.

Since then, the price of Ethereum has experienced relatively the lowest stability directly, forming a flag up, a diagram often preceding an additional growing wave.

On the other hand, the price movement always has a positive dynamic, because the relative force index stabilizes at 65 which shows a good demand, but without equivalent to the excess area of ​​purchase, while the MacD index has turned into a strong upward trend, with the enlarged columns of the graph to band which indicates the growing dynamic.

Trading candles reveal high funds and price movement increases in a narrow range, which means good purchasing force away from the momentum.

Ethereum graphic
Ethereum – Source: tradingView

For its part, the main levels of support appear at $ 4,600 and $ 4,420 and the resistance at $ 4,900. Candle closing can just over $ 4,900 can open a larger field for purchase up to $ 5,300 with the possibility of its extension up approximately $ 5,700, then the psychological barrier is $ 6,000 in the short term.

Ethereum currency scale

In addition to the artistic reading of the artistic scheme, Ethereum derivatives are improved by these positive expectations.

Ethereum – Source: Coringlass

According to observers, financing rates through main trading platforms are still moderately, indicating the control of speculators at a high price, but without excessive use of the leverage which often leads to serious corrections.

Ethereum Open Futures Rate – Source: Coringlass

In addition, the average open-end contract shows a clearer image, with a total contract on total open contracts for Ethereum 14.6 million currencies ($ 69.8 billion), 20% on the Binance platform and 15% on the CME platform.

This increase in open term contract rate – in addition to financing stability – indicates that new funds enter the market in a balanced manner.

Unlike July – when the increase in the use of the lever effect led to the liquidation of speculative transactions at a high price – the current environment seems more balanced, and it is characterized by the collection of institutions for Ethereum on the CME platform and a fixed participation of small traders on the Binance platform.

In other words, the “Ethereum” increases without indicators on reckless speculation.

Road around $ 20,000: Acceleration from the Ethereum collection

The investment of institutions, the rally of whales (main investors) and the request for immediate negotiation funds on the stock market (ETFS Ethereum Spot) improve the price of Ethereum. Modern blockchain data shows an increase in the purchase of currencies by senior investors, while the immediate trading boxes listed in the United States attracted more than 1.6 million Ethereum currencies in July, which led to real price support. Consequently, this trend towards assembly represents basic stone for the expectations of the price of Ethereum at $ 20,000, a target that many analysts consider to be checked during the current market cycle.

The proposed negotiation plan seems simple for merchants: the entry of more than $ 4,900 with $ 4,600 to stop the loss is in accordance with management of management, with objectives varying between $ 5,300 and $ 5,700 in the short term.

For long -term investors, the current relative stability of money can be the basic starting point for the next increase in the price of Ethereum currency, which can reach it at $ 20,000 or more if the favorable factors of the macroeconomic economy, organizational clarity and institutional adoption.

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