0
0
Ethereum Classic’s Bullish Momentum
Ethereum Classic has exhibited a bullish trend in the recent past, as evidenced by various key indicators. Notably, the volume indicator for Ethereum Classic has been on the rise since December 2023, signaling a surge in buying pressure for this altcoin. The Fibonacci retracement levels further support this positive outlook, with the 78.6% retracement level at $22.9 being defended successfully on two occasions in 2024.
Additionally, the market structure for Ethereum Classic portrays a promising picture, with $18.33 serving as a crucial swing low that needs to be surpassed for further bullish momentum. Over the last five months, the On-Balance Volume (OBV) indicator has shown a consistent uptrend, indicating sustained buying interest in Ethereum Classic.
While a recent drop in the OBV suggests a potential short-term challenge for Ethereum Classic traders, the overall bullish sentiment remains intact. Investors and traders are closely monitoring the developments in Ethereum Classic, anticipating a potential rally in the near future.
Solana’s On-Chain Metrics Decline
Solana, on the other hand, is facing a decline in its on-chain metrics despite the recent uptick in Bitcoin’s price. The number of new addresses on the Solana network has been decreasing, raising concerns among market participants. However, there are indications that a breakout above $162 could trigger a positive rebound for Solana.
Currently trading within a range-bound rising channel, Solana is caught in a battle between buyers and sellers. While the on-chain value transferred on Solana has seen a significant increase from $64 billion to $90 billion, the long/short ratio is tilting towards a bearish bias. With 54% of holdings predicting a price decline for Solana, the market sentiment is shifting towards a bearish stance.
Technical analysis suggests that Solana’s price is at a crucial juncture, with potential implications for its future price action. Traders and investors are closely monitoring the on-chain dynamics of Solana to gauge its next move in the market.
DeeStream’s Revolutionary Streaming Platform
DeeStream, a pioneering streaming platform, is attracting significant attention with its innovative approach to addressing common challenges faced by users of traditional streaming services. Unlike conventional platforms, DeeStream prioritizes free speech and refrains from banning users unless their actions violate legal boundaries.
With over 3,500 investors and more than 18,700 registered users, DeeStream has captured the interest of the streaming community. The ongoing presale of DeeStream, currently offering tokens at $0.066 each, presents an exciting opportunity for early investors to participate in a project with immense growth potential.
As DeeStream progresses through its presale stages, investors can benefit from early access to alpha and beta testing as well as participate in decentralized governance to shape the platform’s future direction. With a total of six presale stages, there are ample opportunities for individuals to engage with DeeStream and contribute to its success.
To learn more about DeeStream’s presale and explore investment opportunities, visit the official website here.
Image/Photo credit: source url
