• About Cryptocurrency Prices List
  • Privacy Policy
Newsletter
cryptocurrency prices list
Advertisement
  • Home
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Business
  • Guide
  • About CCLP
  • Contact Us
No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Business
  • Guide
  • About CCLP
  • Contact Us
No Result
View All Result
cryptocurrency prices list
No Result
View All Result
Home blog

If Ethereum Falls Below $1,000, Here’s The Next Support

Vladislav Sopov by Vladislav Sopov
July 12, 2022
in blog
0
If Ethereum Falls Below $1,000, Here’s The Next Support

Related articles

US Treasury calls for public comment on digital asset policy, following Biden’s executive order

US Treasury calls for public comment on digital asset policy, following Biden’s executive order

July 12, 2022
XRP Outperforms Bitcoin And Ethereum, Here Is How

XRP Outperforms Bitcoin And Ethereum, Here Is How

July 12, 2022

Early in June, Ethereum fell below the $1700 demand zone, and the king of altcoins had no immediate plans to recover. The $1000 band of support has been held for the past month, while the $1300 resistance has not yet been broken.

Ethereum Ranging Between $1,000 to $1,200

Although Ethereum seemed to establish a range, it was probably just imitating Bitcoin. The king coin also established a range, and it would need perseverance to traverse the markets without suffering a great deal of loss.

 

ETH/USD hovers around $1k. Source: TradingView

Since Ethereum initially began trading on Binance in 2015, there have been two primary ascending lines on the weekly timescale. Prior to the price falling below $1,500, the white line served as support and the yellow line served as resistance. To further emphasize the relevance of the present price in relation to earlier market valuations, the 200-week moving average line (in light blue) is also shown.

In a scenario where price moves in favor of the bulls, the price would rise over the MA200, which is located at $1200, and then rebound above the resistance zone between $1300 and $1500 before consolidating above $1700 and breaking the white trendline.

However, it appears to be a challenging mission given the uncertainties in the macro picture brought on by the potential for a recession and a lack of liquidity.

Related reading | Uniswap Reports Phishing Scam, As UNI Records 10% Profit In 7 days

On the other hand, reaching the horizontal support at $500 (in green) will not be out of the question if the bears can force the price below the support zone at $880-$1000.

The volume of trades for the past month has been higher than either April or May on their own, and it has been fairly stable in recent weeks. This demonstrated that long-term bulls and bears were interested in where ETH was trading. $1000 would be a crucial area for Ethereum buyers to defend because it has psychological significance as well.

Active Addresses Hit 2-year Low

According to the July 12 State of the Network newsletter from Coin Metrics, the quantity of monthly unique active addresses on the Ethereum blockchain has fallen to its lowest level since June 20, 2020.

The number of active Ethereum addresses specifically increased in late 2021 and early 2022, peaking at roughly 9 million in late March 2022. The number has since fallen to as low as 6 million, the lowest level in the previous two years.ethereum

Source: Coin Metrics Charting Tool

When Ethereum’s total number of unique active addresses per month surpassed 13 million in May 2021, the second-largest cryptocurrency by value’s price skyrocketed to a record-breaking high of nearly $4,000.

Related reading | TA: Ethereum Breakdown Looks like the Real Deal, $1K Is The Key

Featured image from Unsplash, chart from TradingView.com



Source by [author_name]

Related Posts

US Treasury calls for public comment on digital asset policy, following Biden’s executive order

US Treasury calls for public comment on digital asset policy, following Biden’s executive order

by Vladislav Sopov
July 12, 2022
0

The United State Department of the Treasury has requested comments from the public on the potential opportunities and risks of...

XRP Outperforms Bitcoin And Ethereum, Here Is How

XRP Outperforms Bitcoin And Ethereum, Here Is How

by Vladislav Sopov
July 12, 2022
0

A blockchain’s computational power is widely acknowledged to be its major advantage. In a sense, it prompts market participants to...

Ripple co-founder Jed McCaleb to finish selling XRP holdings by July 16

Ripple co-founder Jed McCaleb to finish selling XRP holdings by July 16

by Vladislav Sopov
July 12, 2022
0

Ripple Co-founder Jed McCaleb will sell out his XRP holdings this week, according to a tweet from the founder of...

Bitcoin Miners in Texas Halt Operations due to a Severe Heat Wave

Bitcoin Miners in Texas Halt Operations due to a Severe Heat Wave

by Vladislav Sopov
July 12, 2022
0

Bitcoin mining companies in Texas turned off their machines in anticipation of extreme weather conditions. In some parts of the...

Why Bitcoin Needs A Marketing Department

Why Bitcoin Needs A Marketing Department

by Vladislav Sopov
July 12, 2022
0

This is an opinion editorial by Maxx Mannheimer, a former sales account manager with a background in training and industrial-organizational...

Load More
Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
If Ethereum Falls Below $1,000, Here’s The Next Support

If Ethereum Falls Below $1,000, Here’s The Next Support

July 12, 2022
US Treasury calls for public comment on digital asset policy, following Biden’s executive order

US Treasury calls for public comment on digital asset policy, following Biden’s executive order

July 12, 2022
XRP Outperforms Bitcoin And Ethereum, Here Is How

XRP Outperforms Bitcoin And Ethereum, Here Is How

July 12, 2022
Ripple co-founder Jed McCaleb to finish selling XRP holdings by July 16

Ripple co-founder Jed McCaleb to finish selling XRP holdings by July 16

July 12, 2022

© 2020 CCPL - ( Cryptocurrency Prices List )

No Result
View All Result
  • Contact Us
  • Homepages
  • Business
  • Guide

© 2020 CRYPTO, CRYPTOCURRENCY PRICES LIST.