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The monthly buy signal has appeared. The previous two times saw increases of 235% and 182% respectively. Will the script repeat this time?
New smart contract deployment on
Ethereumhas surged 303% compared to the
90-day averagels the Ethereum [ETH] resurgence underway? The leading altcoin's bulls have defended the $1,560 support level twice in June. At the time of writing, the price was at $1,767 and inching toward the psychological $2k mark.
AMBCrypto reported that a whale had taken a $9 million loss after closing a short position on ETH worth $54.1 million. The futures market data showed more active participation from retail traders.
Alongside this potential short-term revival, the monthly chart flashed a buy signal. The last two times this signal appeared, Ethereum rallied 235% and 182%, respectively.
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