Ethereum [ETH] short-term traders can celebrate next week if…

Ambcrypto2022-08-17 tarihinde yayınlandı2022-08-17 tarihinde güncellendi

Özet

Ethereum rallying is a sign of prosperity for pretty much every altcoin. But what if that signal fails to sustain and takes a trip back down? That is the issue with Ethereum right now. Despite forming a two-month high last week, it is now looking at a possible downtrend.

Ethereum rallying is a sign of prosperity for pretty much every altcoin. But what if that signal fails to sustain and takes a trip back down?

That is the issue with Ethereum right now. Despite forming a two-month high last week, it is now looking at a possible downtrend.

Ethereum to $2k?

A little over 48 hours ago, Ethereum was at its pre-June crash levels after successfully hitting the $2000 mark.

It was expected of the king altcoin to continue doing its upwards journey. But correction came in soon and ETH took a hit to trade at $1,892.

The 91.2% rally that brought Ethereum to this point is now slightly threatened as the altcoin is teetering at the edge of a critical support zone.

Ethereum price action | Source: TradingView – AMBCrypto

The 23.6% Fibonacci level serves as an important area for ETH’s uptrend. Drawn from its all-time high of $4,811, a recovery above the red line will provide the support ETH needs to sustain recovery.

Now, the recovery from the state of being oversold in June right after the crash has been overwhelming. Hence, ETH is facing a possible period of cooldown due to being overbought.

The Relative Strength Index is proof of the same as the indicator just tested the 80.0 mark.

So if a cooldown does arrive for ETH, the coin might take some more time before it can enter the positive zones of investor profits.

The Net Unrealized Profit/Loss (NUPL) indicator, at press time, exhibited ETH’s recovery from the state of capitulation to the state of hope-fear. But the recovery would only find subsistence once it’s in a state of optimism.

Ethereum NUPL | Source: Glassnode – AMBCrypto

This would also coincide with the price point above the $2,000 mark wherefrom, ETH will look at reclaiming the 38.2% Fib line. This is usually indicative of a rally (ref. Ethereum price action image).

The rise would also further the profits noted by investors over the last two weeks which resulted in the uptick of the Spent Output Profit Ratio (SOPR) as it hit it its 3-month high in August.

Ethereum SOPR | Source: Glassnode – AMBCrypto

İlgili Okumalar

Strategy’s STRC Drop Shows The Risk Behind Bitcoin-Linked Credit Products

Strategy Inc.'s (formerly MicroStrategy) preferred stock, STRC, traded sharply below its $100 reference value during recent market stress, hitting an intraday low of $82.53. The company's CEO framed the drop as a "leverage flush"—forced selling by investors using borrowed money—rather than a fundamental default event. This distinction highlights that the selloff resulted from market mechanics and liquidity pressures, not missed payments by the issuer. The episode underscores the specific risks embedded in Bitcoin-linked credit products, which can behave differently from holding Bitcoin or common stock. As Bitcoin treasury strategies become more complex and financialized, instruments like preferred shares introduce additional layers of risk, including leverage, liquidity constraints, and sensitivity to Bitcoin's volatility. The STRC movement serves as a warning about the fragility of these structures in stressed markets, even when the underlying company remains solvent.

bitcoinist2 saat önce

Strategy’s STRC Drop Shows The Risk Behind Bitcoin-Linked Credit Products

bitcoinist2 saat önce

Australia’s High Court Hands ASIC Major Win In Block Earner Crypto Yield Case

Australia's High Court unanimously ruled in favor of the securities regulator ASIC in a case against crypto platform Block Earner. The court determined that Block Earner's historical 'Earner' fixed-yield product was a financial product and a derivative, requiring an Australian Financial Services Licence. This landmark decision establishes that crypto yield products promising structured returns can fall under existing financial services law, regardless of their digital asset nature. While the specific product is no longer offered, the ruling sets a significant precedent for how similar crypto investment and derivative-like offerings will be regulated in Australia. The case now returns to a lower court to determine penalties against Block Earner.

bitcoinist4 saat önce

Australia’s High Court Hands ASIC Major Win In Block Earner Crypto Yield Case

bitcoinist4 saat önce

Blockchain.com Expands Tokenized Stock Access Through Ondo Finance

Blockchain.com has expanded its partnership with Ondo Finance to integrate tokenized U.S. stocks and ETFs into its wallet ecosystem. This move allows eligible, primarily non-U.S., users to access traditional financial assets through a familiar crypto-native interface, blending real-world asset exposure with existing crypto holdings like stablecoins and DeFi tools. Ondo Finance, a key player in tokenizing assets like Treasuries and equities, gains a significant distribution channel through Blockchain.com's large user base. The partnership highlights the industry trend of making tokenized assets as accessible as ordinary crypto tokens, targeting global audiences who may face barriers using traditional brokerage services. While the tokenized real-world asset (RWA) market grows increasingly competitive, questions remain around custody, regulation, and market structure. Blockchain.com and Ondo are betting that seamless wallet integration can address these challenges and drive broader adoption.

bitcoinist7 saat önce

Blockchain.com Expands Tokenized Stock Access Through Ondo Finance

bitcoinist7 saat önce

CPU Makes a Comeback to the Table, A $170 Billion "Power Seizure" Drama Begins

A new era is dawning for the server CPU (Central Processing Unit), driven by the shift from AI model training to large-scale reasoning and the rise of Agentic AI. This article explores how the CPU is reclaiming a central role in the AI data center. For years, the focus has been on the GPU (Graphics Processing Unit) for AI training. However, as AI moves to the inference and Agent phase—where tasks involve complex, multi-step reasoning, tool calls, and data management—the workload balance is flipping. Studies show CPUs now handle over 70% of the workload in Agentic AI, up from 10-30% in training. This is because Agent tasks generate massive intermediate data (KV Cache) that exceeds GPU memory, forcing it to be offloaded to the CPU's larger, more scalable memory pools. This increased importance is translating into market changes. Major players are taking note: NVIDIA launched its first standalone CPU line, Vera, based on ARM architecture and optimized for Agent performance. AMD doubled its server CPU market forecast to over $1200 billion by 2030. Analyst reports project the total server CPU market could reach $1700 billion by 2030, with AI-driven demand being a primary driver. Furthermore, the classic ratio of CPUs to GPUs in AI servers is rapidly changing, converging from 1:8 toward 1:1 for Agent deployments. This surge in demand has led to a rare industry-wide price increase of 10-15% for server CPUs from Intel and AMD, breaking a decade-long trend of "more performance for the same price." Demand is bifurcating into high-core-count CPUs for in-rack GPU support and moderate-core CPUs for standalone Agent task orchestration. In China, this global trend presents an opportunity for domestic CPU manufacturers like Hygon (海光信息) and Huawei Kunpeng, who are bolstered by both growing AI infrastructure needs and national policies promoting technological self-reliance ("xin chuang"). The maturity of their software ecosystems is also accelerating, evidenced by faster adaptation to new AI models. In conclusion, the narrative is shifting from a GPU-centric view to one where CPU-GPU synergy is critical. The CPU is no longer a peripheral component but a performance-defining bottleneck and a key growth driver in the AI hardware stack, opening a massive new market estimated in the hundreds of billions of dollars.

marsbit7 saat önce

CPU Makes a Comeback to the Table, A $170 Billion "Power Seizure" Drama Begins

marsbit7 saat önce

TechFlow Intelligence: AMD AI Director Publicly Criticizes Claude Code for "Becoming Dumber and Lazier", Trump Claims Full Ceasefire in Hormuz But Strait Still Has 80 Unexploded Mines

TechFlow Intelligence Report: This daily digest covers key developments in AI, crypto, hardware, and geopolitics. In AI, SK Telecom faces US export control scrutiny over its partnership with Anthropic, while a Gemini user reports being misled in a scam scenario, sparking safety debates. China's Z.AI launches the GLM-5.2 model, rivaling Claude Opus without NVIDIA chips. In crypto, Bithumb lists ReProtocol, and Upbit delists KernelDAO. On the hardware front, MIT researchers build a custom OS to study chips, ASML denies US claims its advanced lithography machines are in China, and Amazon considers selling its in-house AI chips. Apple's future A21 Pro chip may use TSMC's latest N2P process. Major tech issues include 10,000 GitHub repositories distributing malware and Apple patching a critical eavesdropping flaw in Beats earbuds. US stocks rise, led by semiconductors, with Intel surging 10.6%, while SpaceX falls 3.5%. Geopolitically, despite a US-Iran deal, the Strait of Hormuz remains risky with ~80 uncleared mines, stalling 80M barrels of oil on standby tankers. Iran postpones Switzerland talks, and Trump calls the agreement an "unconditional surrender." The report highlights a contrast: temporary geopolitical calm versus the ongoing, fundamental restructuring of tech supply chains and chip independence.

marsbit7 saat önce

TechFlow Intelligence: AMD AI Director Publicly Criticizes Claude Code for "Becoming Dumber and Lazier", Trump Claims Full Ceasefire in Hormuz But Strait Still Has 80 Unexploded Mines

marsbit7 saat önce

İşlemler

Spot

Futures