In the last week, the Ethereum price (ETH) has been unable to break the rangebound move. This lack of strength in price is due to the profit booking of the recent bull rally and also the irregular flow in spot Ethereum ETF, which has affected the Ethereum price.
Meanwhile, emerging ERC-20 projects have gained momentum, and one of the top ERC-20 coins, DTX Exchange (DTX), has achieved a new milestone, surpassing the $8 million mark. Analysts have predicted that DTX Exchange will be listed among the top 10 cryptocurrencies after the launch.
Ethereum Price Faces Strong Resistance At $3,200, While Spot Ethereum ETF Faces Outflows
The Ethereum price rose to a swing high of $3,443 on November 12th, and from there, it corrected to the psychological zone of $3,000. In the last seven days, the Ethereum price has been trading in the slight red despite the bullish sentiments in the market. Breakouts of $3,050 and $3,250 are immediate support and resistance levels that will decide the further direction of the Ethereum price.
Spot Ethereum ETFs recently experienced significant losses. On November 18, single-day outflows totaled $39.08 million, according to Sosovalue.com. Grayscale’s ETHE fund on NYSE led the declines with $13.28 million in outflows, followed by BlackRock’s ETHA fund on Nasdaq, which lost $23.91 million. Grayscale’s Ethereum Mini Trust on NYSE also reported a $5.06 million outflow. Fidelity’s FETH fund on CBOE stood out as the only exception, recording a small inflow of $0.37 million.
Just a week earlier, the situation was completely different. Between November 9 and 15, spot Ethereum ETFs recorded a massive $515.17 million inflow. During that time, optimism was high, but last week, the top three spot Ethereum ETFs faced outflows, with no movement in others. If this pattern continues, it could mark the first time since early November that spot Ethereum ETFs close a week in the red, a sharp shift from the previous bullish sentiment.
Smart Money Shift ETH Gains To DTX Exchange (DTX)
Due to the turbulence in Spot Ethereum ETFs and the lagging performance of the Ethereum price, smart money funds have shifted their profit into the DTX token presale. DTX is one of the top-performing ERC-20 tokens; it has risen nearly 400% from the first stage and is currently trading at $0.1. The huge inflow in presale from smart money is due to the discounted price of the token.
The listing price of the DTX token is projected at $0.2, and from the current point of view, that is 100% gains. This undervaluation has attracted small and institutional investors to the DTX ICO.
Another reason for DTX Exchange’s virality among investors is the revolutionary features and smart innovation it is bringing to the market. DTX Exchange has successfully produced the first-ever hybrid exchange, which allows trading in various assets, including stocks, crypto, forex, commodities, RWAs, etc.
With its outstanding developers team, DTX Exchange has focused on problems traders face during their operations. With multi-asset trading, DTX also provides huge leverage, which helps traders in producing big profits. Advanced algorithmic and risk management tools also help traders automate their trading endeavors.
Investors trust the project for its transparency and security, making it an attractive choice. The 100% buy bonus with the code “SELLSTAGE” adds to the excitement, generously rewarding new investors. Experts predict a 200X ROI, driven by growing real-world utility and upcoming top-tier listings.
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