What Ethereum Investors Need To Watch Out For In The Coming Days

Ethereum is down 13.06% this month. However, this week, the alt saw the first sign of consolidation as it barely noticed any change in price. However, the network flows observed up to three days ago paint a more worrying picture for Ethereum investors.

Ethereum fluye

The week ending Dec. 17 saw the largest digital asset outflows in a while, totaling $ 142 million. In fact, this was the first time in more than 17 weeks that overall net flows had tilted negatively.

However, Ethereum in particular stood out this week thanks to its $ 63 million outflows, which is making the situation worse for ETH holders.

Throughout the month and into last week, net flows kept a balance between inflows and outflows, keeping Ethereum’s outflows at a low of $ 3.6 million. In fact, from month to date (MTD), Polkdaot’s exits were higher than Ethereum’s.

Net flows of digital assets for the week ending December 10 | Fountain: CoinShares

But this week’s development led to Ethereum taking the crown from Polkadot by posting total MTD outflows of $ 68.4 million.

Although Bitcoin lost $ 26 million more in inflows compared to Ethereum, its performance over the previous weeks helped the real currency keep its losses to a minimum.

However, the same cannot be said for Ethereum, as more than six million addresses are now seeing losses for the first time since July.

Also, due to the possibility of further losses, investors have become more cautious now, including whales. Its volumes on December 14 surpassed $ 10 billion, the highest volume on record since January 2018, after ETH fell 8.5% the day before.

Bitcoin BTC 17.52.20 21 Dec 2021

Ethereum whale movement | Fountain: Sentiment – AMBCrypto

However, as the biggest expiration of the year approaches, we can expect to see some recovery soon.

While 102k contracts call for Ethereum to close above $ 5k, another 122.6k and 119.5k investors seek a close of $ 10k and $ 15k respectively.

Screenshot 2021 12 21 175600

Ethereum options contracts | Fountain: Bias- AMBCrypto

However, even $ 5k doesn’t seem likely at this point. If ETH ever rallies, $ 5k is the closest level as reaching $ 10k and $ 15k is out of the question. Well, even then, ETH will need to increase 23.69% in the next 10 days to hit $ 5k.

DymsHjoZ

Ethereum price action | Fountain: TradingView – AMBCrypto

Therefore, it would be safe to say that, in the future, even if ETH recovers, many investors will continue to suffer losses.

This is a machine translation of our English version.

We would love to give thanks to the writer of this short article for this remarkable content

What Ethereum Investors Need To Watch Out For In The Coming Days

Dispensary Business News