A 500 Million Ethereum Overnight Binge
Updated
Small Picture
Overnight, 500 million ETH.USDT was purchased.
Yesterday, 1.5 billion ETH.USDT was sold on Binance.
To challenge yesterday's resistance, we need to see an extra 1 billion ETH.USDT bought on Binance today.
Big Picture
8 billion ETH.USDT was bought between May 23rd and May 29th on Binance.
7 billion ETH.USDT was sold during the same period.
To challenge weekly selling pressure, we need to see a net total of 7 billion in ETH.USD purchases. Currently, the level is at 6.5 billion since 500 million was already bought overnight.
Interesting Half-Truths
Whales cause chart formations. Ethereum is centralized on Binance.
Nerve-wracking, right?
Overnight, 500 million ETH.USDT was purchased.
Yesterday, 1.5 billion ETH.USDT was sold on Binance.
To challenge yesterday's resistance, we need to see an extra 1 billion ETH.USDT bought on Binance today.
Big Picture
8 billion ETH.USDT was bought between May 23rd and May 29th on Binance.
7 billion ETH.USDT was sold during the same period.
To challenge weekly selling pressure, we need to see a net total of 7 billion in ETH.USD purchases. Currently, the level is at 6.5 billion since 500 million was already bought overnight.
Interesting Half-Truths
Whales cause chart formations. Ethereum is centralized on Binance.
Nerve-wracking, right?
Note
I haven't seen enough big purchases today to overcome resistance.The last purchase for 100 million was at noon.
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