A brief technical and on-chain analysis on Ethereum price. Here, FXStreet's analysts evaluate where ETH could be heading next as it tests crucial resistance level.
Author
FXStreet Team
FXStreet
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Pi Network (PI) edges lower by 3% at press time on Thursday, marking its fifth consecutive day of losses. A transfer of 2 million PI tokens from the liquidity reserve, part of the Pi core team wallets, bolsters the bearish sentiment.
Cardano (ADA) extends losses by 5% at press time on Thursday, following the 3% decline on the previous day and breaking the local resistance trendline. Derivatives data indicate a bearish shift in the narrative, as Open Interest and the number of active long positions decline.
Sei (SEI) price trades in red, below $0.137 at the time of writing on Thursday, after retesting its key resistance level the previous day. Despite the pullback, on-chain data and market sentiment remain bullish.
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Bitcoin (BTC) is steadying above $91,000 at the time of writing on Friday. Resistance at $94,150 capped recovery on Wednesday, but in the meantime, bulls have contained downside risks above $90,000.