{"id":528858,"date":"2023-04-27T11:13:43","date_gmt":"2023-04-27T11:13:43","guid":{"rendered":"https:\/\/wncen.com\/?p=528858"},"modified":"2023-04-27T11:21:33","modified_gmt":"2023-04-27T11:21:33","slug":"ethereum-inflows-drop-below-2080","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-inflows-drop-below-2080\/","title":{"rendered":"Ethereum Exchange Inflows Trigger Drop Below $2,080: Will It Slide Lower This Week?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Ethereum, the second-largest cryptocurrency by market cap, is facing another bout of turbulence as it experiences a fresh influx of coins into exchange addresses.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to recent data, this surge in Ethereum inflows is reminiscent of a similar occurrence that coincided with a drop in the cryptocurrency&#8217;s value below the $2,080 mark.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The question on the minds of traders and enthusiasts alike is, will this latest wave of inflows lead to a similar outcome?<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/rndr-the-biggest-gainer-today\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">Render (RNDR): Biggest Gainer Among Top 100 Cryptos With A 22% Climb<\/a><\/div>\n<h2><strong>Ethereum Inflow Analysis<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">In the past week, Ethereum experienced a decline of 3.51%, with bulls barely managing to keep prices above the $2,000 support zone. However, when Bitcoin was rejected at the $30,000 mark, Ethereum also saw a drop in value.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Despite this bearish trend, the cryptocurrency managed to post a 1% gain in the last 24 hours and is currently priced at $1,886 according to <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/ethereum\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400\">The 30-day MVRV (Market Value to Realized Value) ratio for Ethereum, which measures the average profit or loss of all addresses that acquired ETH within the past month, retreated from a three-month peak in mid-April to negative values at the time of writing.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This drop was a result of <\/span><a href=\"https:\/\/ambcrypto.com\/ethereum-eth-showed-chances-of-a-bounce-from-this-support\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">intense selling pressure<\/span><\/a><span style=\"font-weight: 400\"> over the past two weeks, which saw ETH&#8217;s value decline from $2,125 to $1,820.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The MVRV values indicated that short-term holders of ETH were at a loss, and that the average age of the coins has not changed much in the last week, but it has gone up a little bit in the last few days.<\/span><\/p>\n<p>Based on the data of exchange inflow over the past week, it appears that there is a high likelihood of further selling taking place soon.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-528890 size-full\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/04\/a-79.png?resize=627%2C217\" alt=\"\" width=\"627\" height=\"217\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/04\/a-79.png?w=627 627w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/04\/a-79.png?w=460 460w\" sizes=\"(max-width: 627px) 100vw, 627px\"><\/p>\n<pre style=\"text-align: center\">Source: <a href=\"https:\/\/app.santiment.net\/charts?settings=%7B%22slug%22%3A%22ethereum%22%2C%22ticker%22%3A%22ETH%22%2C%22from%22%3A%222023-01-25T18%3A30%3A00.000Z%22%2C%22to%22%3A%222023-04-26T18%3A29%3A59.999Z%22%7D&amp;widgets=%5B%7B%22widget%22%3A%22ChartWidget%22%2C%22wm%22%3A%5B%22price_usd%22%2C%22mvrv_usd_30d%22%2C%22exchange_inflow%22%2C%22mean_age_90d%22%5D%2C%22whm%22%3A%5B%5D%2C%22wax%22%3A%5B0%2C1%2C2%5D%2C%22wpax%22%3A%5B%5D%2C%22wc%22%3A%5B%22%2326C953%22%2C%22%23FF5B5B%22%2C%22%23141413%22%2C%22%231008fa%22%5D%7D%5D\" target=\"_blank\" rel=\"noopener nofollow\">Santiment<\/a><\/pre>\n<h2><strong>Ethereum Could See Further Losses; Sentiment Bearish<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Given the current market sentiment and technical indicators, it&#8217;s possible that Ethereum could see further losses in the coming days. If the bears continue to dominate the market, the cryptocurrency could break through the $1800 support level and head towards the $1,600 range.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, if the bulls manage to gain momentum, Ethereum could potentially see a price movement towards the $2,000 range. The <\/span><a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">4-hour chart<\/span><\/a><span style=\"font-weight: 400\"> shows a resistance level at $1,890, which, if broken, could lead to a potential price increase.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/p4bb3QlN\/\" width=\"2047\" height=\"979\"><\/p>\n<pre style=\"text-align: center\">ETH total market cap currently pegged at $226 billion on the daily chart at <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/37-billion-dogecoin-holdings-in-jeopardy-price-level-investors-should-watch\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">37 Billion Dogecoin Holdings In Jeopardy: Price Level Investors Should Watch<\/a><\/div>\n<p><span style=\"font-weight: 400\">It&#8217;s important to note that cryptocurrency markets are notoriously volatile and unpredictable, and unexpected events could always occur that impact the price of Ethereum. As always, traders should exercise caution and carefully analyze market trends before making any investment decisions.<\/span><\/p>\n<p><span style=\"font-weight: 400\">While Ethereum has experienced losses in the past week, there is still potential for a price increase if the bulls manage to gain momentum. However, the current market sentiment and technical indicators suggest that further losses could be in store.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">It remains to be seen how the market will develop in the coming days and weeks, and traders should remain vigilant and adapt to changing conditions.<\/span><\/p>\n<p><em>-Featured image from TipRanks<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum, the second-largest cryptocurrency by market cap, is facing another bout of turbulence as it experiences a fresh influx of coins into exchange addresses.\u00a0 According to recent data, this surge in Ethereum inflows is reminiscent of a similar occurrence that coincided with a drop in the cryptocurrency&#8217;s value below the $2,080 mark.\u00a0 The question on the minds of traders and enthusiasts alike is, will this latest wave of inflows lead to a similar outcome? Related Reading: Render (RNDR): Biggest Gainer Among Top 100 Cryptos With A 22% Climb Ethereum Inflow Analysis In the past week, Ethereum experienced a decline of 3.51%, with bulls barely managing to keep prices above the $2,000 support zone. However, when Bitcoin was rejected at the $30,000 mark, Ethereum also saw a drop in value.\u00a0 Despite this bearish trend, the cryptocurrency managed to post a 1% gain in the last 24 hours and is currently priced at $1,886 according to CoinMarketCap. &nbsp; The 30-day MVRV (Market Value to Realized Value) ratio for Ethereum, which measures the average profit or loss of all addresses that acquired ETH within the past month, retreated from a three-month peak in mid-April to negative values at the time of writing.\u00a0 This drop was a result of intense selling pressure over the past two weeks, which saw ETH&#8217;s value decline from $2,125 to $1,820. The MVRV values indicated that short-term holders of ETH were at a loss, and that the average age of the coins has not changed much in the last week, but it has gone up a little bit in the last few days. Based on the data of exchange inflow over the past week, it appears that there is a high likelihood of further selling taking place soon. Source: Santiment Ethereum Could See Further Losses; Sentiment Bearish Given the current market sentiment and technical indicators, it&#8217;s possible that Ethereum could see further losses in the coming days. If the bears continue to dominate the market, the cryptocurrency could break through the $1800 support level and head towards the $1,600 range. However, if the bulls manage to gain momentum, Ethereum could potentially see a price movement towards the $2,000 range. The 4-hour chart shows a resistance level at $1,890, which, if broken, could lead to a potential price increase. ETH total market cap currently pegged at $226 billion on the daily chart at TradingView.com Related Reading: 37 Billion Dogecoin Holdings In Jeopardy: Price Level Investors Should Watch It&#8217;s important to note that cryptocurrency markets are notoriously volatile and unpredictable, and unexpected events could always occur that impact the price of Ethereum. As always, traders should exercise caution and carefully analyze market trends before making any investment decisions. While Ethereum has experienced losses in the past week, there is still potential for a price increase if the bulls manage to gain momentum. However, the current market sentiment and technical indicators suggest that further losses could be in store.\u00a0 It remains to be seen how the market will develop in the coming days and weeks, and traders should remain vigilant and adapt to changing conditions. -Featured image from TipRanks<\/p>\n","protected":false},"author":557,"featured_media":528878,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,16163,1946,4735],"class_list":["post-528858","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-eth-price","tag-ethereum","tag-price-action"],"acf":[],"yoast_head":"\n<title>Ethereum Exchange Inflows Trigger Drop Below $2,080<\/title>\n<meta name=\"description\" content=\"Ethereum, the second-largest cryptocurrency by market cap, is facing another 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Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Exchange Inflows Trigger Drop Below $2,080: Will It Slide Lower This Week?","url":"http:\/\/wncen.com\/news\/ethereum-inflows-drop-below-2080\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum-inflows-drop-below-2080\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/04\/a-78.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/04\/a-78.png?fit=779%2C423"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","eth price","ethereum","price action"],"dateCreated":"2023-04-27T11:13:43Z","datePublished":"2023-04-27T11:13:43Z","dateModified":"2023-04-27T11:21:33Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Exchange Inflows Trigger Drop Below $2,080: Will It Slide Lower This Week?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum-inflows-drop-below-2080\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum-inflows-drop-below-2080\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/04\\\/a-78.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/04\\\/a-78.png?fit=779%2C423\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"eth price\",\"ethereum\",\"price action\"],\"dateCreated\":\"2023-04-27T11:13:43Z\",\"datePublished\":\"2023-04-27T11:13:43Z\",\"dateModified\":\"2023-04-27T11:21:33Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/04\/a-78.png?fit=779%2C423","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/528858"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=528858"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/528858\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/528878"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=528858"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=528858"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=528858"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}