Key Points:
- Ethereum’s price dropped 2.28% on July 31.
- A “death cross” might mean more drops.
- High outflows from exchanges show investor worry.
- Bulls face resistance at the $3,563 level.
- Positive ETF flows could help the price bounce back.
On July 31, Ethereum’s price fell by 2.28%. This drop is mainly because of a possible “death cross.” This term means the 50-day moving average might fall below the 100-day average, which could lead to more price drops. If the 50-day average also drops below the 200-day average, the price might fall even more.
Ethereum is also seeing a lot of outflows from exchanges. More Ethereum is leaving than coming in, showing investors are holding onto their coins, likely expecting the price to drop further. Bulls are trying to push the price up but are facing strong resistance at the $3,563 level.
Positive ETF Flows
Despite these negative signs, there is some hope from positive ETF flows. This means new money is coming into Ethereum. The fresh investments from ETFs might help stop the price drop and start a recovery. How these new investments interact with the current market will be important to see if Ethereum can turn things around. If positive ETF flows keep coming, they could help the price stabilise and go up.
Looking Forward
In summary, Ethereum is in a tough spot, with signs suggesting the price might drop more. However, positive ETF flows offer hope for a bounce back. Investors should stay alert and watch market trends closely. The big question is whether the price will keep falling or if new investments will help Ethereum recover.
