A brief technical and on-chain analysis of Ethereum price. Here, FXStreet’s analysts evaluate where ETH could be heading next. Please, subscribe to our YouTube channel (https://www.youtube.com/c/fxstreet), and follow us on Twitter @FXScrypto.
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FXStreet Team
FXStreet
XRP lags behind other crypto majors, declining for the second consecutive day on Thursday. Ripple secures preliminary approval for an Electronic Money Institution license from the CSSF, Luxembourg's financial regulator.
Bitcoin holds above the 100-day EMA after correcting from the previous day’s high amid surging ETF inflows. Ethereum posts a minor correction on Thursday after a notable bullish move above $3,400, reflecting potential profit-taking.
Bitcoin price holds above $96,000 on Thursday after hitting a nearly two-month high at $97,800 the previous day. The bullish price action in BTC is further supported by rising institutional demand, as evidenced by three consecutive days of inflows into spot ETFs this week.
Monero (XMR) edges lower on Thursday, holding around $700 at the time of writing as the rally cools off after reaching a record high of $800 on the previous day, signaling a potential cycle top.
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Bitcoin (BTC) is trading lower toward $90,000 on Friday after encountering rejection at a key resistance zone. The price pullback in BTC is supported by fading institutional demand, as spot Exchange Traded Funds (ETFs) have recorded net outflows so far this week.