{"id":180013,"date":"2023-10-24T15:29:54","date_gmt":"2023-10-24T09:59:54","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=180013"},"modified":"2023-10-24T15:29:54","modified_gmt":"2023-10-24T09:59:54","slug":"as-ethereum-moves-closer-to-2k-this-metric-sees-8-month-high-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/as-ethereum-moves-closer-to-2k-this-metric-sees-8-month-high-crypto-news\/","title":{"rendered":"As Ethereum moves closer to $2k, this metric sees 8-month high &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<br style=\"clear: both;float: none\" \/><\/p>\n<ul>\n<li><em>Ethereum\u2019s T<span style=\"font-weight: 400\">aker Buy-Sell Ratio sat at its highest level since February.<\/span><\/em><\/li>\n<li><em>At 1.003 at press time, ETH\u2019s Buy Volume exceeded its sell volume in the Futures market.<\/em><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/ETH\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">Ethereum\u2019s [ETH]<\/span><\/a><span style=\"font-weight: 400\"> Taker Buy-Sell Ratio, assessed on a 30-day simple moving average (SMA), has climbed to its highest level since 2 February, data from <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptoquant.com\/asset\/eth\/chart\/derivatives\/taker-buy-sell-ratio?exchange=all_exchange&amp;window=DAY&amp;sma=30&amp;ema=0&amp;priceScale=log&amp;metricScale=linear&amp;chartStyle=line\" data-wpel-link=\"external\"><span style=\"font-weight: 400\">CryptoQuant<\/span><\/a><span style=\"font-weight: 400\"> revealed.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center\">How much are\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/convert\/1-eth-to-usd\" data-wpel-link=\"internal\">1,10,100 ETHs worth today<\/a>?<\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">The Taker Buy-Sell Ratio is a metric that measures the ratio between the buy volume and sell volume in an asset\u2019s Futures market. A value greater than 1 indicates more buy volume than sell volume, while a value less than 1 indicates more sell volume than buy volume.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Due to the significant resistance faced by ETH at the $2000 price level since April, its Taker Buy-Sell Ratio trended downward since 29 May. By 22 August, this had fallen to its lowest level this year.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">As market sentiment improved towards the end of September, ETH\u2019s Taker Buy-Sell Ratio initiated a correction and began to ascend on 15 September. The metric reclaimed its center line a month later and continued its upward trend.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">At press time, ETH\u2019s Taker Buy-Sell Ratio was 1.003, data tracked by CryptoQuant showed.<\/span><\/p>\n<div id=\"attachment_353208\" style=\"width: 4297px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Ethereum-Taker-Buy-Sell-Ratio-All-Exchanges-SMA-30.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-353208\" class=\"size-full wp-image-353208\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Ethereum-Taker-Buy-Sell-Ratio-All-Exchanges-SMA-30.png\" alt=\"\" width=\"4287\" height=\"2700\" \/><\/a><\/p>\n<p id=\"caption-attachment-353208\" class=\"wp-caption-text\">Source: CryptoQuant<\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">According to pseudonymous CryptoQuant analyst <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptoquant.com\/insights\/quicktake\/65362be01d9cbe2df4862947-Aggressive-Buying-Is-Taking-Place-In-The-Futures-Market\" data-wpel-link=\"external\">Greatest Trader<\/a>:<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400\">\u201cThis surge signifies a prevalent bullish sentiment in the Futures market. This upward trend aligns seamlessly with Ethereum\u2019s recent impulsive surge, propelling it toward the $1.7K resistance level.\u201d<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">At press time, ETH exchanged hands at $1,825. According to <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/currencies\/ethereum\/\" data-wpel-link=\"external\"><span style=\"font-weight: 400\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400\">, this represented the altcoin\u2019s highest price level since 17 August. In the last 24 hours, ETH\u2019s value has grown by almost 10%, and in the last week, by 15%.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Warning of a potential retracement in ETH\u2019s value, the CryptoQuant analyst opined:<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400\">\u201cHowever, given the significant surge in this metric, it is anticipated that the market might require a temporary pause in the trend. This pause could lead to a short-term correction stage before the market initiates another substantial upward movement. In the upcoming days, it\u2019s crucial to observe if the ratio maintains this momentum or reverses. If the bullish momentum wanes, it could potentially lead to increased market volatility.\u201d<\/span><\/p>\n<\/blockquote>\n<h4><b>Volatility markers climb to multi-month highs<\/b><\/h4>\n<p><span style=\"font-weight: 400\">An assessment of a few volatility markers on the ETH\u2019s daily chart confirmed that the increased activity around the altcoin in the last month has increased the possibility of severe price fluctuations.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">For example, its Average True Range (ATR) \u2013 which measures market volatility by calculating the average range between high and low prices over a specified number of periods \u2013 was spotted at 54.52 at press time. This was the indicator\u2019s highest level since 20 July.<\/span><\/p>\n<p><span style=\"font-weight: 400\">When ATR surges in this manner, it suggests that the price swings are becoming more significant.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Likewise, ETH\u2019s Chaikin Volatility indicator has trended upward since 15 October to be pegged at 55.92 at press time, its highest level since the end of August.<\/span><\/p>\n<p><span style=\"font-weight: 400\">This indicator measures the difference between an asset\u2019s high and low prices over a specified period. Generally, when the Chaikin Volatility indicator rallies to return higher values, it signals significant price movements and potential volatility.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center\">Is your portfolio green? Check out the\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/ethereum-profit-calculator\" data-wpel-link=\"internal\">ETH Profit Calculator<\/a><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">Lastly, ETH\u2019s rising Bollinger Bandwidth (BBW) confirmed the presence of volatility in the alt\u2019s market. As of this writing, this indicator returned a value of 0.18.<\/span><\/p>\n<p><span style=\"font-weight: 400\">These volatility markers hint at very low stability in the ETH market. The coin\u2019s price remains prone to severe fluctuations and can initiate a descent should bullish momentum begin to wane.\u00a0<\/span><\/p>\n<div id=\"attachment_353200\" style=\"width: 2720px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ETHUSD_2023-10-24_06-57-51.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-353200\" class=\"size-full wp-image-353200\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"\" width=\"2710\" height=\"1226\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ETHUSD_2023-10-24_06-57-51.png 2560w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ETHUSD_2023-10-24_06-57-51-300x136.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ETHUSD_2023-10-24_06-57-51-1024x463.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ETHUSD_2023-10-24_06-57-51-768x347.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ETHUSD_2023-10-24_06-57-51-1536x695.png 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ETHUSD_2023-10-24_06-57-51-2048x927.png 2048w\" data-lazy-sizes=\"(max-width: 2710px) 100vw, 2710px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ETHUSD_2023-10-24_06-57-51.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-353200\" class=\"size-full wp-image-353200\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ETHUSD_2023-10-24_06-57-51.png\" alt=\"\" width=\"2710\" height=\"1226\" \/><\/a><\/p>\n<p id=\"caption-attachment-353200\" class=\"wp-caption-text\">Source: ETH\/USD on TradingView<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum\u2019s Taker Buy-Sell Ratio sat at its highest level since February. At 1.003 at press time, ETH\u2019s Buy Volume exceeded its sell volume in the Futures market. Ethereum\u2019s [ETH] Taker Buy-Sell Ratio, assessed on a 30-day simple moving average (SMA), has climbed to its highest level since 2 February, data from CryptoQuant revealed. How much [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":180014,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-180013","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/180013","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=180013"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/180013\/revisions"}],"predecessor-version":[{"id":180016,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/180013\/revisions\/180016"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/180014"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=180013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=180013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=180013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}