Ethereum price is preparing for a major breakout as its recent price rally has driven millions of spot ETH ETF outflows in a week. Seizing the opportunity, DTX Exchange (DTX) has soared ahead as the biggest ICO of the year and the first hybrid platform to offer up to 1,000x liquidity (leverage for traders), which makes it one of the best Ethereum alternatives in the market right now.
Ethereum (ETH) spot exchange-traded funds (ETFs) have witnessed a massive outflow of $163 million this week. This event took place as the bullish sentiment trailing the leading altcoin began to decline, making it a struggle for Ethereum to break through the $3,400 resistance level.
According to data from SosoValue, the weekly spot ETH ETF outflow of $163 million represents the third-highest weekly net outflow since these funds became tradeable on July 23. Notably, this trend of Ethereum ETF outflows follows a strong surge in inflows, which hit a record-breaking $515.17 million in weekly inflows, the highest since launch.
This spike in inflows was triggered by Trump’s victory in the November 5 US election, which resulted in a parabolic rally in the crypto market. However, ETH’s price has begun to struggle as bearish sentiment against it gains momentum. BeInCrypto reported earlier that the ETH/BTC ratio, which measures Ethereum’s price performance against Bitcoin, has fallen to its lowest point since March 2021.
In terms of technical indicators for Ethereum, analysts have observed the ‘Aroon’ indicator for the altcoin. The Aroon indicator identifies trends and their strength. It consists of two lines: Aroon Up and Aroon Down. Aroon Up measures the time since a new 25-period high, while Aroon Down measures the time since a new 25-period low.
When the Aroon Up Line falls, it signals a weakening uptrend or the potential for a trend reversal. This occurs when the price is taking longer to reach new highs, indicating a loss of momentum. A falling Aroon Up line is interpreted as a bearish signal, suggesting that the bullish momentum is fading and a potential downtrend may be underway.
Interestingly, an assessment of the Ethereum price one-day chart has shown that a bull flag may be on the way. This pattern often precedes a continuation of an uptrend. A bull flag consists of a rapid price increase (the flagpole) followed by consolidation (the flag). Once the price breaks above the flag’s resistance level, it signals a potential resumption of the uptrend.
Following the successful presale rounds in the platform, DTX Exchange (DTX) is quietly becoming the next big thing in the market. The platform has already launched practical products like ‘Phoenix Wallet’ and is expected to upscale its product offerings with a Real World Assets (RWA) tokenization platform in the near term.
The continuous technological developments and blockchain upgrades in the platform keep its users connected and engaged with exchange. Its lightning-fast transaction speeds, with an average speed of 0.04 seconds, make DTX Exchange (DTX) one of the most used hybrid exchanges to trade cryptos, stocks & bonds, FX, and commodities.
The highly bullish presale rally by DTX Exchange (DTX) has reached the huge $9 million milestone in its presale within the blink of an eye and could go 25x in the coming weeks after its $0.20 grand listing on Coinbase. The growing interest from users in the platform has surged the DTX community from 125,000 to 160,000 members as of November 2024.
As Spot ETH ETF anticipates an upcoming rebound in December, DTX Exchange (DTX) presents strong fundamentals and investor confidence that could easily outshine crypto giants like Ethereum and rank DTX Exchange as the dominant crypto. If you haven’t already signed up, DTX Exchange is offering an extra 100% on any deposit with ‘SELLSTAGE’ promo code. Join now!
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