ETHFI: Positive Signals from Amber Group (2024.03.27)

[MrSpasybo]

I - Onchain data from 52Hz Onchain (in Vietnamese)
I translated the 52Hz Onchain's post from Vietnamese to English, with refinements and explanations of crypto market slangs. I will present text + images so we can view, quote and discuss more easily. I think this is better than sending a simple link.

Amber Group withdraws 511K ETHFI ($2.63M) from Binance and Kucoin. Currently, Amber Group holds 7.68M ETHFI ($47.78M) ^[1].

This is a good sign: after receiving a large amount of tokens from the project to create initial liquidity, we now have a signal that Amber Group is accumulating tokens. These tokens are likely to have been bought after the listing from the airdrop selling pressure, paving the way for a new uptrend.

EigenLayer has launched the final stage of Testnet on Holesky before Mainnet. A few days ago, Altlayer also hinted about the staking icon to imply the launch of staking in Q2, 2024.

Những yếu tố trên kết hợp với nhau tạo nên một bức tranh tích cực cho ETHFI trong ngắn hạn và trung hạn.

II - Technical analysis (4H chart)

Reference RSX and MACD. Both indicators have not shown any reversal signals of ETHFI token price, they all confirm the strong increase of ETHFI in the past time. In the past 1 week, right after retesting the low of $2.85 after the airdrop tokens were sold, ETHFI price has increased strongly, reconfirming the accumulation of tokens by whales right after listing and the plan to continuously push the price up.

[1] Follow Amber Group
[>>] ETHFI: Many whales are participating (2024.03.17)