.png){kind=logo}
Built on the Ethereum blockchain, DTX Exchange (DTX) is joining forces with the crypto giant Ethereum on its strong presale rally. While investors predict new highs for the Ethereum price, DTX Exchange (DTX) is likely to grab more traction in the coming weeks as it progresses in presale round 6 at $0.12, with more than $9.3 million raised before time.
Ethereum is showing strong bullish momentum, driven by an influx of buyers. However, as the price nears a significant resistance level at $4K, market participants should anticipate a period of consolidation with the potential for heightened volatility.
Ethereum has experienced an impulsive uptrend, fueled by buying activity near the $2.5K support region. This movement has led to a breakout above the key 100-day and 200-day moving averages, signaling a shift in market sentiment and confirming the buyers’ dominance. The asset is approaching the $4K resistance zone, a crucial psychological and technical level, likely filled with substantial supply.
The $4K threshold is a probable distribution zone for long-term holders looking to take profits. A consolidation phase around this level will likely give the market time to absorb selling pressure. However, a liquidity pool above $4K could trigger a short squeeze if breached, potentially driving Ethereum toward its all-time high of $4.9K.
On the 4-hour timeframe, ETHs price action reflects a Wyckoff accumulation pattern within the $2K-$2.8K range, culminating in a breakout and an impulsive rally past the $3.5K decisive threshold. The asset has also broken above the upper boundary of a bearish wedge pattern, a bullish signal, and has since completed a pullback.
If this correction holds and buying pressure continues, Ethereum will likely extend its uptrend toward the $4K resistance. However, caution is warranted, as a bearish divergence between the RSI indicator and the price suggests a waning bullish momentum. This divergence indicates that the market may face a period of consolidation before determining its next significant move.
The behavior observed in Ethereum’s price movement, particularly the failure to drop below the $3.3K level, aligns with significant liquidity below that point, as seen in the Binance liquidation heatmap. This liquidity likely consists of stop-loss orders and liquidation prices for large traders, or whales, who actively defend their positions to prevent a cascade of liquidations.
DTX Exchange (DTX) has become one of the most viral cryptos in 2024. Particularly for its mind-blowing presale performance, which raised more than $9.2 million in just weeks. DTX Exchange (DTX) has a reputation for bagging big numbers in a short span, including raising $2 million in a private seed round, $100,000 in a single-day raise, and over 95 million DTX tokens sold.
Retail traders and investors pick DTX Exchange (DTX) over other networks for its highly inclusive and flexible platform. The platform also deploys self-executing contracts on the Ethereum blockchain and governs various aspects of the platform, including order execution, trade settlement, and asset management.
DTX Exchange (DTX) deploys state-of-the-art trading mechanisms in the network to deliver mind-blowing results. Among the many, the Ethereum Virtual Machine (EVM) is a crucial component of DTX Exchange's technical infrastructure. The EVM is a runtime environment that executes smart contracts on the Ethereum blockchain.
It enables the verification and execution of code within smart contracts, ensuring that trades and transactions on the DTX Exchange are carried out accurately and according to predefined rules. The EVM's deterministic nature guarantees that the results of smart contract executions are consistent across all nodes in the Ethereum network. Join now!
Learn more:
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be risky, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.
