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Will Ethereum [ETH] bulls continue dominating the market next week
ETH bulls push past the $1800 and eye the $2,000 level in less than 4 weeks to the Shanghai upgrade.
Low leverage underpins the current rally, lowering the risk of an extended downside.
ETH bulls have finally summed up enough momentum to push out of its 6-month low range. Meanwhile, the Ethereum network just confirmed the official launch date for the Shanghai uptate which will happen in three weeks.
Will 4 four weeks be enough time for ETH to push above the $2,000 resistance?
Is your portfolio green? Check out the Ethereum Profit Calculator
Just a week ago, ETH seemed like it was falling off a cliff. Fast forward to the present and it is now up by roughly 32% from last week’s lows.
It owes this surge to the banking contagion that occurred last week. As a result, investors became more fearful of a widespread banking collapse, thus the FUD favored cryptocurrencies.
To recap, ETH’s upside was enough to push beyond the previous 6-month resistance level at the $1700 price range. Its realized price also soared to a 3-month high according to the latest Glassnode data.
📈 #Ethereum $ETH Realized Price just reached a 3-month high of $1,384.12
View metric:https://t.co/9xWb0WuEGn pic.twitter.com/FfPG47wAcs
— glassnode alerts (@glassnodealerts) March 18, 2023
The cryptocurrency is currently at a new 6-month high and the bulls are relentlessly pushing further. However, it is also rapidly approaching overbought conditions where we might witness some selling pressure.
ETH still has some ground to cover before reaching the $2,000 resistance level. But can cryptocurrency sustain this momentum? It all comes down to the same banking collapse that triggered the current rally.
More liquidity will continue flowing into the crypto market if the dominos continue falling in the banking industry.
Glassnode’s analysis of daily on-chain exchange flows reveals that Ethereum had a positive net flow of $35.8 million.
Meanwhile, the ETH exchange inflows and outflows suggested that the bullish momentum was about to be challenged. Exchanges, at press time, were experiencing higher inflows than outflows.
More importantly, the flow of funds both on and off exchanges was slowing down, at the time of writing. This outcome might pave the way for the bears to pose a challenge for the bulls especially if the situation with the banking industry is rapidly salvaged.
How many are 1,10,100 ETHs worth today
A retracement from current levels would carry some degree of severity if it is loaded with a lot of leveraged long liquidations.
The open interest metric confirms that the demand for ETH in the derivatives market has indeed surged in the last 7 days.
Despite the surge in derivatives demand, the amount of leverage remains low. This is likely due to the expectations of higher volatility and unpredictable market moves, thus discouraging leverage traders.
Crypto Prices Jump in Q1 Despite Weakened Asset Class Perceptions
Those two worlds, in other words, have decoupled. This quarter, the correlation between bitcoin (BTC) and the S&P 500 declined from 0.91 to 0.59, and got as low as 0.01 on March 22. (A correlation of 1 means the price of two things is moving in lockstep, while minus 1 means a perfectly inverse relationship. Zero means no link at all.) In other words, digital assets have behaved as the diversifying, uncorrelated asset that many investors crave.
Volt Inu Partners With OKX to Enable OKX Wallet Web Extension Users to Access Voltichange – Press release Bitcoin News
PRESS RELEASE. Volt Inu, the innovative crypto project and leading decentralized exchange (DEX) platform, announced a significant partnership with OKX, one of the top exchanges in the crypto industry, on March 27, 2023. Volt Inu’s Twitter announcement revealed that the two companies would be teaming up to leverage their respective Web3 capabilities.
As part of their collaboration, Volt Inu and OKX announced their first step – integrating Voltichange using the OKX Wallet Extension. This integration is a significant development for both platforms, allowing for cross-platform compatibility and seamless trading.
Connect to Voltichange Easily through the OKX Wallet Web Extension
Until recently, VOLT’s community has eagerly awaited Voltichange’s release. Today, this community is also witnessing more and more successes of this project, one of these successes being the new collaboration with OKX announced on the Volt Iau Twitter page. OKX is one of the most popular crypto exchanges, which has gained increasing traction in recent months.
OKX Wallet and Voltichange have collaborated to provide users with a simple and efficient way of accessing decentralized exchange services.
With this partnership, Volt Inu and OKX are working together to push the boundaries of what’s possible in the crypto space. By combining their expertise and resources, they’re creating new user opportunities and paving the way for a more connected and accessible decentralized finance (DeFi) ecosystem. This partnership is an exciting development for crypto enthusiasts and traders, as it opens up new avenues for investment and trading.
To access Voltichange utilizing OKX Wallet Web Extension, users need to follow these simple steps:
Download the OKX Wallet Web Extension;
Create a new OKX Wallet or add an existing wallet;
Add funds to your wallet;
Connect your OKX Wallet Web Extension securely to Voltichange’s official web app to access the platform.
This partnership inspires the Volt Inu community since their cryptocurrency, VOLT, has not yet been launched on the OKX Exchange. This partnership will help build confidence in the project as they see tangible results in a shorter period.
To understand why it has gained so much traction and Voltichange, let’s see what it is. Voltichange is a Decentralized Exchange (DEX) part of the Volt Inu ecosystem. The platform aims to provide crypto enthusiasts with a streamlined and user-friendly experience, allowing for automated, accessible, and permissionless listings for all existing and future crypto projects.
One of the primary features of Voltichange is its multichain support. The platform allows cross-chain trading, meaning users can swap tokens between blockchains without intermediaries. This feature increases the platform’s liquidity and allows users to trade more cryptocurrencies.
Another standout feature of Voltichange is its low trading fee. The platform charges a minimal 0.5% trading fee, which is significantly lower than the fees charged by many centralized exchanges. Moreover, this fee makes every cryptocurrency traded on the exchange deflationary. This deflationary mechanism helps to increase the value of the VOLT token, the native currency of the Volt Inu ecosystem.
To use Voltichange, users must connect their crypto wallets to the platform. The exchange currently supports a range of wallets, including WalletConnect, Coinbase Wallet, and, of course, OKX Wallet. Once connected, users can start trading immediately and use the platform’s automated and permissionless listings.
Discovering Volt Inu
Volt Inu is a crypto project that’s changing the game in the world of decentralized finance (DeFi). It’s a one-stop shop that offers a unique approach to supporting deflationary tokens, which has gained significant popularity since its launch in December 2021. With Volt Inu, crypto projects can list for free and without permission, and the platform helps make them deflationary by burning their supply.
The VOLT token is the primary currency used on the platform.
Volt Inu has also progressed in the NFT field by introducing a 3D NFT collection called VDSC. Additionally, there are two crypto-based games available: Volted Racer and VoltIsland. Volted Racer is a Play-to-Earn (P2E) game that integrates NFTs and offers both free and paid game modes. VoltIsland is a Battle Royale game that uses VDSC NFTs and is set to launch in Q3 2023.
Stay in Touch with Volt Inu Team
For more information on the Volt Inu ecosystem, head over to the official website. You can also stay informed about Volt Inu’s latest updates and growth by following them on various social media channels, including Telegram, Twitter, Facebook, Reddit, YouTube, Medium, TikTok, and Instagram.
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Market Maker DWF Labs Emerges as Top Crypto Investor
DWF Labs has offices in Singapore, Switzerland, the British Virgin Islands, the United Arab Emirates, South Korea and Hong Kong. The firm is an affiliate of Digital Wave Finance (DWF), a global crypto trading player that trades in spot and derivatives markets on over 40 top exchanges.
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