03.10.22 - 10.10.22
Last week results
Instruments:
Last week the Crypto market was mixed. The 30th Sept - 02 Oct weekend has registered losses after losses. However, Bitcoin and Ethereum are almost the same.
▶️ The Altcoin Market has been registering losses. Bitcoin and Ethereum are moving in a certain direction, and it’s possible that these sideways will continue. A breakout can occur the same it happened in the past. Usually, after a ‘’red’’ weekend, we can see some recovery in the first part of the week, as we have seen in the past.
▶️ Ethereum after the merge is looking to recover. With more than 14 million ETH staked and 439,425 active validators, the Ethereum network is looking pretty healthy at the moment. At current prices, that works out as a little over $18 billion representing 11.6% of the entire supply of ETH.
▶️ Ethereum stakers are being rewarded with a current annual interest rate of roughly 4% which beats anything offered by most high street banks. The ETH locked on the Beacon Chain is still immobile and will not be accessible for a few months when it is likely to be released in stages.
These week’s key events
Last week the Crypto market was mixed. The 30th Sept - 02 Oct weekend has registered losses after losses. However, Bitcoin and Ethereum are almost the same.
▶️ The Altcoin Market has been registering losses. Bitcoin and Ethereum are moving in a certain direction, and it’s possible that these sideways will continue. A breakout can occur the same it happened in the past. Usually, after a ‘’red’’ weekend, we can see some recovery in the first part of the week, as we have seen in the past.
▶️ Ethereum after the merge is looking to recover. With more than 14 million ETH staked and 439,425 active validators, the Ethereum network is looking pretty healthy at the moment. At current prices, that works out as a little over $18 billion representing 11.6% of the entire supply of ETH.
▶️ Ethereum stakers are being rewarded with a current annual interest rate of roughly 4% which beats anything offered by most high street banks. The ETH locked on the Beacon Chain is still immobile and will not be accessible for a few months when it is likely to be released in stages.
📈 Ethereum at Crucial Level
Ethereum is looking for a consolidation. Sideways trading can be profitable if we take our profits at the right time. At the moment the market is trading between 1270 - 1330. We can use these levels to open and close in a very predictable way.
💡 3 reasons to buy Bitcoin now:
🔹The Merge is looking good, no technical difficulties have been registered.
🔹The Ethereum active validators are on the rise, and a cross-over has happened in June. Together with the current annual interest rate of 4% more and more users would like to use this strategy rather than using a bank.
Image Ethereum: Active Validators Source: Glassnode
🔹 Technical analysis: The RSI seems to be around 43 between 50 which is the midpoint, and 30 which is the low level. This can be an indication that it’s a good time to buy. The Awesome Oscillator indicator has not reverted in more than 3 weeks and can indicate that a reversal is near.
❗️ Use this opportunity to make the right decision.
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