European Wrap 3 April: Ethereum, ESO, and Dogecoin Trends Discussed
Ethereum’s upcoming Shanghai hard fork and token unlock event in April is not expected to result in long-term selling pressure on the altcoin, according to experts. Ethereum’s on-chain metrics suggest a bullish outlook, as the altcoin is being accumulated by both retail investors and large wallet investors. However, ahead of the token unlock announcement, large wallet holders on the Ethereum network started shedding their token holdings. Meanwhile, EOS price is up by 23% in the last three weeks and is nearing immediate resistance at $1.25, with traders advised to watch for signs of the market overheating. Dogecoin price experienced a correction and fell nearly 7% since April 2, wiping out its gains from the weekend, but there is a key support zone between $0.075 and $0.077 that DOGE bulls need to defend to push the meme coin higher.
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