Ethereum (ETH) has been facing a challenging time in the market as it struggles to maintain an uptrend after reaching $4,109 two weeks ago. The altcoin has been trading within a consolidation range, with increased selling pressure from various entities and individuals contributing to these market conditions.
One of the latest entities to sell its Ethereum holdings is Endaoment, a charity fund on the Ethereum network. According to SpotOnChain, Endaoment recently sold 3,690 ETH tokens, amounting to $12.47 million. This transaction, the first from Endaoment in 10 months, is also its largest ever. While such a significant sale by a large holder might raise concerns about selling pressure and bearish sentiment in the short term, the fact that the sale is for a charitable cause helps mitigate negative perceptions.
Despite the selling pressure from large holders like Endaoment, Ethereum has managed to hold strong within the consolidation range between $3,500 and $3,300. At the time of writing, ETH was trading at $3,429, showing a moderate daily increase of 0.21% and a 2.45% increase on weekly charts. This indicates that Ethereum bulls are trying to regain control of the market and push prices higher, while bears are still attempting to lower prices.
Market indicators suggest a potential breakout for Ethereum. The Relative Strength Index (RSI) recently made a bullish crossover, signaling increased buying pressure and dominance by buyers. The RSI has risen to 47, up from 42, at the time of writing. Additionally, the Moving Average Convergence Divergence (MACD) line is approaching a bullish crossover, further confirming the strengthening momentum to the upside.
The Exchange Supply Ratio for Ethereum has been declining over the past month, indicating that ETH outflow from exchanges has been higher than inflow. This reflects optimism among investors as more are accumulating rather than selling. Furthermore, Ethereum’s Bitmex Basis Ratio has remained positive since the beginning of the year, suggesting that traders in the futures market are willing to pay a premium for contracts in anticipation of price increases.
In conclusion, Ethereum is currently caught in a battle between bulls and bears within a consolidation range. While sellers like Endaoment are active, buyers are also actively accumulating. If these market conditions persist, Ethereum is likely to continue trading between $3,300 and $3,500. However, a breakout above $3,500 could see ETH reaching resistance at $3,700, while a bearish scenario could push the altcoin down to $3,305. Investors are closely watching these market dynamics to determine the next move for Ethereum. “A Beginner’s Guide to Yoga”
Yoga is a centuries-old practice that combines physical movement, breath control, and mindfulness to promote overall health and well-being. It has gained immense popularity in recent years, with millions of people around the world incorporating it into their daily routines. If you’re new to yoga and looking to start your own practice, this beginner’s guide is for you.
First and foremost, it’s important to understand that yoga is not just about physical exercise. It’s a holistic practice that encompasses mind, body, and spirit. The physical postures, or asanas, are just one aspect of yoga. The breathwork, or pranayama, and meditation are equally important components that help to cultivate a sense of inner peace and balance.
Before you begin your yoga practice, it’s essential to find a style of yoga that resonates with you. There are many different styles of yoga, ranging from gentle and restorative to vigorous and challenging. Some popular styles include Hatha, Vinyasa, Ashtanga, Bikram, and Kundalini. Take the time to explore different styles and find one that suits your needs and preferences.
Once you’ve chosen a style of yoga, it’s time to find a qualified instructor or online class to guide you through your practice. A good teacher can help you learn proper alignment, breathing techniques, and modifications for any injuries or limitations you may have. They can also provide encouragement and support as you navigate your yoga journey.
When starting out, it’s important to listen to your body and practice at your own pace. It’s okay to take breaks, modify poses, or skip certain poses altogether if they don’t feel right for you. Remember that yoga is a personal practice, and it’s important to honor your body’s limitations and progress at your own pace.
As you begin to build your yoga practice, you may start to notice the physical, mental, and emotional benefits of yoga. Regular practice can help improve flexibility, strength, balance, and posture. It can also reduce stress, anxiety, and depression, and promote a sense of overall well-being.
In addition to attending classes or practicing at home, consider incorporating yoga into other aspects of your life. You can use yoga techniques such as deep breathing or meditation to help manage stress, improve focus, and promote relaxation. You can also explore the philosophical teachings of yoga, such as the yamas and niyamas, which offer guidance on how to live a more ethical and mindful life.
In conclusion, yoga is a transformative practice that can benefit people of all ages and fitness levels. Whether you’re looking to improve your physical health, reduce stress, or cultivate a sense of inner peace, yoga has something to offer everyone. By following this beginner’s guide and staying open-minded and curious, you can embark on a fulfilling and enriching yoga journey that will enhance your life in countless ways.