A popular crypto analyst is predicting that one big Ethereum rival will rally and says ETH itself is showing significant strength.
In a new strategy session, the host of YouTube channel InvestAnswers tells his 443,000 subscribers that Ethereum’s recent rally still has gas in the tank
“ETH has been enjoying three weeks of big fat green candles and it is well above the 200-week moving average, which is at $1,200 and Ethereum is banging on the door of $1,600 real soon. Also smashed through the 50-day moving average of about $1,250, so again, nothing but strength here.
Other things that are very bullish for Ethereum is the Ethereum exchange outflow. It’s at a 13-month high because of the proof of stake merge. I think the exact number is about 30,000 ETH fled the system, fled exchanges.
The last time there was such a big outflow, it was sometime May or June 2021, so this is big again. The less crypto on exchanges, the more supply crunch and the more “price goes up” for the time being.”
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