Crypto Exchanges
By Maheen Hernandez
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Short-Term Structure Holds — Barely. The 4-hour chart tells a slightly more hopeful story, but only slightly.
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Coinbase Premium Index Stays in the Red. Here's where it gets more concerning. The Coinbase Premium Index — which tracks whether Ethereum…
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Ethereum can't catch a break. The cryptocurrency is trading around $1,740, still licking its wounds after a rough June sell-off, and it's basically stuck in no-man's land —…
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The setup on the daily chart is kind of a mixed bag. Ethereum bounced hard off a demand zone near $1,500, which was a decent recovery, and it did manage to challenge $1,850.
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The 4-hour chart tells a slightly more hopeful story, but only slightly. After that rally off $1,500, Ethereum reclaimed $1,600 and has been using it as support.
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The RSI has cooled off from overbought territory. That's not catastrophic, but it does mean the bullish momentum that powered the recovery from $1,500 has faded.
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The $1,650 order block is the line in the sand short-term. Hold that, and the consolidation looks like a normal pause before another attempt at $1,850.
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Here's where it gets more concerning. The Coinbase Premium Index — which tracks whether Ethereum is trading at a premium or discount on Coinbase relative to other exchanges — is…
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Institutional demand from U.S. buyers has historically been one of the bigger catalysts for sustained Ethereum rallies.
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Related: Ethereum Stuck at $1,800 as Analysts Eye $2,245 Realized Price Target
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For Ethereum to mount a convincing recovery, two things probably need to happen at the same time: a clean daily close above $1,850 and a positive shift in the Coinbase Premium…
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Until both line up, Ethereum's position stays precarious.
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The broader picture is worth stepping back to look at. Ethereum has been here before — bouncing off a major support level, grinding toward a key resistance, stalling out.
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The $1,500 demand zone did its job. It stopped the bleeding from the June sell-off and gave bulls something to work with.
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Short-term, $1,650 support is what matters most for the next few sessions. Ethereum's been holding above it, and that's the only reason the short-term structure still looks…
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