Ferzoo Exchange’s Presale Captures Attention of Avalanche and Ethereum Investors Setting Stage for Rivalry
Utilizing its innovative approach to developing a decentralized crypto exchange, Fezoo has caught the attention of investors of two of the biggest layer 1 blockchains on the market: Avalanche and Ethereum. This has been no surprise to experienced crypto holders and investors, as a project like Fezoo has the potential to shake up the crypto landscape, despite still being in its early stages.
Avalanche Price Correction Analysis
Following the bearish outlook of the crypto market, Avalanche has been down by 14.1% over the past week. All current indicators are pointing towards bearish momentum for the short term. It is no secret that these past couple of weeks Avalanche has been a bit overbought by the market. This is supported by its RSI index, which determines if a cryptocurrency is overbought or oversold. Avalanche’s RSI is close to the overbought zone and this hints towards a cooling in investor excitement.
Over the past 2 days, Avalanche also experienced a notable shift in its Stop and Reverse, as it changed from bullish to bearish. This is to be expected considering the price drop, but it furthers the point of how Avalanche has been performing. The SAR tool is neat for this observation because it helps identify momentum changes and reversals. However, many experienced traders have pointed out that in the grand scheme of things, this is just a small correction.
Ethereum ETF Delay Concerns
Ethereum has also looked quite bearish over the past week, as its price has been down 7.8%. A big reason why it is behaving like this is the most recent news regarding the highly anticipated Ethereum ETF. The SEC has investigated the Ethereum Foundation, which has raised concerns amongst many that the ETFs that include crypto
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