Ethereum (ETH) continues to attract institutional interests despite a recent price record. This week alone, more than a billion dollars have flocked to ETH investment funds, which highlights the growing institutional appetite for assets.
However, the performance of the parts of the part does not reflect this bullish investment activity. Despite the heavy entries, the ETH remains under pressure, largely due to the increase in profit by long -term holders (LTH).
Ethereum entries have reached an 11 -week sequence while the price falls below $ 3,600
According to Sosovalue, the second largest crypto by market capitalization is currently in its eleventh consecutive week of net entries in the ETH FNB. This contrasts strongly with Bitcoin (BTC), which has witnessed recently notable net outings because its drop in prices seems to have shaken the confidence of investors.
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However, despite this strong wave of institutional support for ETH, the entrances did not translate in a moment of upward price. On the contrary, the price of ETH continues to drop, weighed down by an increase in for -profit activity.
At the time of the press, the Altcoin has been negotiated at $ 3,553, down 5% since Monday. What triggers this box?
Smart money is quietly heading for the release
The data on the chain show an increase in the liveliness of the ETH, which implies that long -term holders (LTH), generally the most resilient hands on the market, are increasingly selling their parts. At the time of the press, this amounts to 0.69.
The liveliness measures the movement of the long -term tokens by calculating the report of the days of money destroyed in total of the accumulated currency days. When it falls, the LTH move their assets from the exchanges and choose to hold.
Conversely, when it increases like this, more dormant tokens are moved or sold, reporting profits by long-term holders.
In addition, on the graph of a day ETH / USD, the drop in the intelligent ETH (SMI) intelligent currency index confirms the sale among the main holders of coins. The readings of this indicator show that its value has dropped 7% since July 20.
Intelligent money refers to the capital controlled by institutional investors or experienced traders who include market trends and timing more deeply. The SMI follows the behavior of these investors by analyzing the movements of intradays prices.
More specifically, it measures the sale in the morning (when retail merchants dominate) compared to the purchase in the afternoon (when the institutions are more active).
When an SMI of an asset falls like this, Smart Money unloads its positions – and in the case of ETH, this distribution seems to be motivated by the desire to lock the gains of its recent gathering.
ETH faces the fight against war between intelligent money sellers and lower buyers
Eth look at a decline less than $ 3,524 if its keychain continues to sell. If this level gives way, the Altcoin could exchange hands around $ 3,314. Bulls’ failure to provide support at that time could trigger a deeper correction to $ 3,067.
However, if the purchase pressure increases, this lower perspective would be invalidated. In this scenario, ETH’s prize could review its recent cycle peak at $ 3,859 and potentially try a break above this level.
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