Are Ethereum ETFs A 'Sell The News Event?' Chart Analyst Highlights ETH's Key Resistance
Portfolio Pulse from Khyathi Dalal
Technical chart analyst Ali Martinez discusses the potential impact of the Ethereum ETF approval on ETH prices, highlighting significant transfers of ETH to exchanges and potential sell-off risks. He identifies key resistance and support levels for ETH, suggesting possible short-term downside risk but also potential for upward movement if certain conditions are met.
May 24, 2024 | 3:25 pm
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The approval of the Ethereum ETF has led to significant transfers of ETH to exchanges, indicating potential sell-off risks. Analyst Ali Martinez identifies key resistance and support levels, suggesting short-term downside risk but potential for upward movement if certain conditions are met.
The influx of ETH to exchanges suggests increased trading activity and potential sell-off. Martinez's analysis using the TD Sequential indicator shows a sell signal, indicating short-term downside risk. However, overcoming key resistance levels could invalidate the bearish outlook.
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