Ethereum Price Beats 14-Day Resistance Despite 1,000 ETH Insider Sell-Off

Ethereum Price Beats 14-Day Resistance Despite 1,000 ETH Insider Sell-Off
Ethereum Price Beats 14-Day Resistance Despite 1,000 ETH Insider Sell-Off

Main notes

  • ETHEREUM price moves over $ 4,600 for the first time in two weeks despite the internal sale by Ethereum Foundation.
  • The derivative market shows new positions for long speculation, as the open interest rises by 1.7 % amid the trading volume at the weekend.
  • Institutional flows remain strong, as ETH ETF records five consecutive days of net gains and treasury perpetrators in a point of 2.65 million ETH.

The price of ETHEREUM increased by 1.4 % on Sunday, October 5, breaking more than $ 4,600 for the first time in two weeks. The derivative market data shows that ETH attracts new long bets, even after Ethereum confirmed 1000 ETHEMs on Friday.

according to CoinmarketcapETHEREUM was traded at $ 4,619 within the day, defying slim trading sizes during the weekend. More importantly, the assembly came in the wake of the announcement of an institution stating that it will turn 1000 Eth into stablecoins to finance research, grants and donations.


Historically, the sale of ETHEREUM Foundation has imposed down pressure on the work of the ETH price. However, the activity of the ETH derivative market during the weekend may nullify this trend.

Ethereum derivative market analysis | Source: Coinglass

The latest data from Coinglass shows that the open interest ETH has increased by 1.7 % over the past 24 hours, to reach 41.3 billion dollars despite the 7.9 % decrease in trading volume. This difference indicates that the sale of ETHEREUM Foundation did not attract the upscale condemnation of the ETH speculators.

The charge of bulls forward despite the sale of Ethereum

While internal transactions usually cause fear -based sales, the ETHEREUM price has organized an outbreak above the level of $ 4600 and attracted net flow of $ 700 million in new future contracts on Sunday.

Its value is estimated at about $ 4.6 million at current prices, and the markets appear to be unbroken through the sale of ETHEREUM Foundation of 1000, as institutional demand and ETF flows provide a strong confrontation.

Ethereum Atfs records 1.3 billion net flow between September 29 to October 3 Farsideinvestors

Ethereum Atfs records 1.3 billion net flow between September 29 to October 3 Source: Farsideinvestors

Farsideinvestors data Ethereum ETF appears to have $ 1.3 billion in five consecutive days of net flow last week.

ETHTRESURY RESERVE flows remain also active, as a bomb picture (BMNR) has increased from ETHEREUM holdings to 2.6 million ETH.

Combined, these ETH flows have been provided with liquidity to defend the 4600 -dollar resistance area. If the open interest continues to rise with ETF flows, the ETH price can test $ 4,750 next week.

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Slip: Coinspeaker is committed to providing unbiased and transparent reports. This article aims to provide accurate and timely information, but it should not be considered financial or investment advice. Since market conditions can change quickly, we encourage you to check your information and consult with a professional before making any decisions based on this content.

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Abraham class

Ibrahim Ajibad is an experienced research analyst and has a background in supporting the various startups and financial organizations in Web3. He obtained his university degree in the economy while he is currently studying for a master’s degree in Blockchain and distributing a professor’s notebook techniques at Malta University.

Irahiah ajibade on connection.


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