{"id":12230,"date":"2022-03-30T06:55:03","date_gmt":"2022-03-30T06:55:03","guid":{"rendered":"https:\/\/egrowonline.com\/?p=12230"},"modified":"2022-03-30T06:55:03","modified_gmt":"2022-03-30T06:55:03","slug":"did-ethereum-price-hit-a-local-market-top","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=12230","title":{"rendered":"Did Ethereum price hit a local market top?"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"fxs_article_content\">\n<ul>\n<li><strong>Ethereum price has posted double-digit gains over the past week; proponents argue the altcoin is closer to a local top at $3,471.\u00a0<\/strong><\/li>\n<li><strong>Millionaire Robert Kiyosaki warns investors that the dollar will implode and recommends accumulating Ethereum and other cryptocurrencies.\u00a0<\/strong><\/li>\n<li><strong>Ethereum\u2019s long-term holders scooped up 4 million ETH through the recent price drop, fueling a bullish narrative for the altcoin.\u00a0<\/strong><\/li>\n<\/ul>\n<p><a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/ethereum-price-could-continue-uptrend-as-altcoin-sets-eyes-on-6-000-target-202203261349\" rel=\"noopener\">Ethereum<\/a> price has posted double-digit gains over the past week as analysts evaluate whether the <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\" rel=\"noopener\">altcoin<\/a> is on track to hit a local top. Analysts evaluate metrics like Market Value to Realized Value (MVRV), funding rates and debt to predict Ethereum\u2019s next move.\u00a0<\/p>\n<h2 class=\"fxs_headline_medium\">Ethereum price could hit the local top in its uptrend<\/h2>\n<p>Ethereum price hit a 30-day high at $3,471. The altcoin resumed its upward climb as proponents evaluated metrics like MVRV, debt created and funding rates to evaluate whether the Ethereum price hit a local top.\u00a0<\/p>\n<p>MVRV calculates the average profit\/loss among <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/ethereum-price-could-breakout-past-3-500-as-whale-addresses-increase-their-altcoin-holding-202203271358\" rel=\"noopener\">Ethereum<\/a> holders. Analysts at the crypto intelligence platform Santiment evaluated Ethereum\u2019s MVRV for 30 days and observed high values. Ethereum price is now in dangerous territory, and the altcoin could hit a wall in its uptrend.\u00a0<\/p>\n<p><img decoding=\"async\" alt=\"MVRV Ethereum (30 days)\" src=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/MVRV-637842194988984237.png\" style=\"width: 650px;height: 220px\" \/><\/p>\n<p><small>MVRV Ethereum (30 days)<\/small><\/p>\n<p>Based on the amount of debt created in DAI stablecoins, there is a low risk if the <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/ethereum-price-on-track-for-massive-breakout-as-network-prepares-for-the-merge-202203220556\" rel=\"noopener\">Ethereum<\/a> price hits the local top.\u00a0<\/p>\n<p>Funding rate, a metric used to identify the direction of a cryptocurrency\u2019s price trend, reveals the scope for climbing higher. Ethereum\u2019s funding rate could hit October 2021 levels, coinciding with the end of a price rally in the altcoin.\u00a0<\/p>\n<p>In his tweet, Millionaire Robert Kiyosaki recently predicted that the dollar will implode and recommended investors accumulate Ethereum, Bitcoin and Solana.\u00a0<\/p>\n<div class=\"twitter_cke fxs_external\">\n<blockquote class=\"twitter-tweet\" data-dnt=\"true\">\n<p dir=\"ltr\" lang=\"en\">Will Smith slaps Chris Rock at Oscars. Biden slaps Putin on world stage. Toxic masculinity. World in trouble. National debt to go through the roof. Biden causing inflation &amp; blaming Putin. Dollar about to implode. Buy more gold, silver, Bitcoin, Ethereum, &amp; Solana before WW3.<\/p>\n<p>\u2014 therealkiyosaki (@theRealKiyosaki) <a target=\"_blank\" href=\"https:\/\/twitter.com\/theRealKiyosaki\/status\/1508622214450405385?ref_src=twsrc%5Etfw\" rel=\"noopener\">March 29, 2022<\/a><\/p><\/blockquote>\n<\/div>\n<p>While proponents and experts recommend Ethereum accumulation, large wallet investors and long-term holders of the altcoin have scooped up nearly 4 million ETH through the recent price drop. Accumulation by investors could fuel a shortage and bring about a supply squeeze in the altcoin.\u00a0<\/p>\n<p>Historically, an Ethereum supply squeeze is a precursor to a price rally in the altcoin.\u00a0<\/p>\n<p>Analysts have evaluated the Ethereum price trend and set a target of $4,000. FXStreet analysts believe Ethereum price could move beyond the 200-day moving average and pretest the low volume node at $3,700 to the $4,000 target.\u00a0<\/p>\n<div class=\"youtube_cke fxs_external\">\n<div class=\"jeg_video_container jeg_video_content\"><iframe loading=\"lazy\" title=\"Ethereum price marches forward to $4,000\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/b4FKb-Z7idM?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/div>\n<p>\u00a0<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/did-ethereum-price-hit-a-local-market-top-202203300646\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price has posted double-digit gains over the past week; proponents argue the altcoin is closer to a local top at $3,471.\u00a0 Millionaire Robert Kiyosaki warns investors that the dollar will implode and recommends accumulating Ethereum and other cryptocurrencies.\u00a0 Ethereum\u2019s long-term holders scooped up 4 million ETH through the recent price drop, fueling a bullish [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11520,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[40],"tags":[158,133,572,219,195,114],"class_list":["post-12230","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","tag-ethereum","tag-hit","tag-local","tag-market","tag-price","tag-top"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/03\/ethereum_2_Large.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/12230","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12230"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/12230\/revisions"}],"predecessor-version":[{"id":12231,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/12230\/revisions\/12231"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/11520"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12230"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}