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Ethereum Supply Shock Looms as Cardano Tests Breakout Toward $1, Says Analyst


by Vignesh Karunanidhi
for CoinEdition
Ethereum Supply Shock Builds, Cardano Eyes Bullish Breakout
  • Ethereum exchange balances drop to their lowest levels since 2018 amid institutional accumulation.
  • BlackRock reportedly pressures the SEC to approve an ETH staking ETF within two weeks.
  • Cardano approaches multi-year resistance while testing the 200-week moving average support.

Ethereum is approaching a potential supply shock as exchange reserves have fallen to their lowest levels in seven years, according to analyst Dan Gambardello. The decline in available ETH on centralized exchanges has created conditions that could drive major price movements if demand increases.

Exchange data shows ETH balances have reached lows not seen since 2018. The data shows sustained withdrawal activity by both retail and institutional investors. This pattern usually precedes major price rallies as available supply for purchase becomes constrained while demand remains steady or increases.

The post Ethereum Supply Shock Looms as Cardano Tests Breakout Toward $1, Says Analyst appeared first on Coin Edition.

Read the article at CoinEdition

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Chart Patterns and an ETF Launch Could Send Litecoin to the Moon – Analyst

Chart Patterns and an ETF Launch Could Send Litecoin to the Moon – Analyst

A renowned cryptocurrency analyst on X has predicted a potential bull run for Litecoi...
Pi Network Soars Over 10% on “Pi2Day” Hype; STX and SYRUP Also Rally

Pi Network Soars Over 10% on “Pi2Day” Hype; STX and SYRUP Also Rally

Pi Network (PI) captured the market’s attention today, surging over 10% to stand out ...

Ethereum Supply Shock Looms as Cardano Tests Breakout Toward $1, Says Analyst


by Vignesh Karunanidhi
for CoinEdition
Ethereum Supply Shock Builds, Cardano Eyes Bullish Breakout
  • Ethereum exchange balances drop to their lowest levels since 2018 amid institutional accumulation.
  • BlackRock reportedly pressures the SEC to approve an ETH staking ETF within two weeks.
  • Cardano approaches multi-year resistance while testing the 200-week moving average support.

Ethereum is approaching a potential supply shock as exchange reserves have fallen to their lowest levels in seven years, according to analyst Dan Gambardello. The decline in available ETH on centralized exchanges has created conditions that could drive major price movements if demand increases.

Exchange data shows ETH balances have reached lows not seen since 2018. The data shows sustained withdrawal activity by both retail and institutional investors. This pattern usually precedes major price rallies as available supply for purchase becomes constrained while demand remains steady or increases.

The post Ethereum Supply Shock Looms as Cardano Tests Breakout Toward $1, Says Analyst appeared first on Coin Edition.

Read the article at CoinEdition

Read More

Chart Patterns and an ETF Launch Could Send Litecoin to the Moon – Analyst

Chart Patterns and an ETF Launch Could Send Litecoin to the Moon – Analyst

A renowned cryptocurrency analyst on X has predicted a potential bull run for Litecoi...
Pi Network Soars Over 10% on “Pi2Day” Hype; STX and SYRUP Also Rally

Pi Network Soars Over 10% on “Pi2Day” Hype; STX and SYRUP Also Rally

Pi Network (PI) captured the market’s attention today, surging over 10% to stand out ...