Bitcoin (BTC) Key Signal, $3,000 Is Now or Never for Ethereum (ETH), Toncoin (TON) Whales Buy 13 Million in 2 Days

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Bitcoin (BTC) Key Signal, ,000 Is Now or Never for Ethereum (ETH), Toncoin (TON) Whales Buy 13 Million in 2 Days

U.Today – Trading volume has seen a huge comeback that many did not expect as market sentiment remains subdued. However, many altcoins have seen inflows from larger institutional investors, and the improvement in market sentiment is a great sign.

The raise in interest and activity in the Bitcoin market can be inferred from the jump in trading volume. Significant price changes, whether up or down, are often preceded by higher volumes. The raise in trading volume in this case indicates that there may be a resurgence of interest and room for price movement in Bitcoin.

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Restored confidence from institutional investors could be one of the main reasons for this raise in trading volume. Larger market participants have made significant investments in a number of altcoins over the past few weeks.

This inflow of capital has likely helped create a positive atmosphere that has permeated Bitcoin trading as well. What’s more, a possible uptrend is also supported by technical indicators for Bitcoin, for now. As it emerges from oversold territory, the Relative Strength Index or RSI is starting to recover.

keeps pushing

Ethereum has once again broken through the $3,000 mark and may finally regain the confidence needed to continue its rally. There is, however, a problem: the major resistance level of the 200 EMA.

The market is feeling more hopeful now that it has broken through $3,000. Ethereum could show signs of renewed buyer confidence if it manages to break through this psychological barrier. However, this confidence is not set in stone, especially with the 200 EMA resistance approaching.

A popular technical indicator, the 200 EMA often serves as a mighty resistance or support level. At this point, Ethereum’s trajectory could either surge or completely reverse. The current state of Ethereum is being influenced by a variety of factors. First, there is a ponderous but steady improvement in overall market sentiment. Ethereum’s price action has been positively impacted by the recent raise in Bitcoin volume and institutional interest in altcoins.

Due to its wide range of applications and lively developer community, Ethereum continues to be a valuable asset for institutional investors looking to diversify their holdings. On-chain metrics also suggest a cautiously hopeful, mixed picture.

Selling pressure appears to be fading as the Ethereum Relative Strength Index (RSI) has exited oversold territory. The market remains cautious despite buyers entering the market, as seen by the lack of noticeable raise in trading volume. The broader macroeconomic environment is another crucial factor to consider.

Toncoin is heading towards recovery

Toncoin whales are pushing the asset forward, creating significant buy support for the asset. After the recent correction, whales are accumulating low-cost TON available in the market. Here is a breakdown of what is happening under the hood.

According to recent data, there has been a noticeable raise in the number of significant Toncoin transactions. The number of enormous transactions has increased over the past week, suggesting increased activity among major holders. In particular, there have been nine significant transactions in the last 24 hours, with a total value of 359,000 TON.

Whale activity has increased, indicating that investors are very hopeful about the future of Toncoin. The total trading volume of TON shows significant fluctuations in terms of volume. On July 6, 2024, the seven-day high was 962,000 TON, while on July 7, 2024, the low was 52,000 TON. This volatility suggests that whales buy more tokens during price declines, likely in the hope that the price will rise in the future. The underlying whale activity was reflected in the price movement of Toncoin.

Price resilience is seen in their ability to bounce off recent lows and hold positions above crucial support levels. Since they show crucial support and resistance levels, the 50 EMA and 100 EMA are crucial indicators to pay attention to. After recently reaching lows around $7.09, TON is currently trading at around $7.28.

This article was originally published on U.Today

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