8 years later, Ethereum has evolved well. On July 30, 2015, Ethereum was launched. The Ethereum network has now been running for 8 years, and many changes have appeared such as the passage from Proof of Work At Proof of Stake. The recent Curve hack shows that the evolution of altcoins does not look like a long calm river. However, eight years later, Ethereum is the second cryptocurrency in terms of capitalization, and the price is trading around $1,870 today.
Ethereum price stagnates in 24 hours
Ethereum continues to trend below $1,900. The price of Ethereum stagnates in 24 hoursand it displays a slight increase of 1% in one week :
In one month, the price shows a 2.5% decrease. On the other hand, in three months, ETH is in increase of more than 2%. The ETH/BTC pair is showing a increase of more than 2% in one weekand of 1% in one month.
>> 10% reduction on your trading fees? Sign up on Binance (commercial link) <<
Ethereum price still undecided on a weekly basis
Ethereum continues to evolve around $1,900 for several weeks. Buyers and sellers neutralize and the course is currently evolving at the level of institutional bias (EMA 9/EMA 18) bullish:
The objective of the buyers is to find the $2,000 area as support. For this, a weekly close above $2,027 is necessary. If this scenario plays out, the price could go for the next resistance zone located at $2,400. On the other hand, a return to the level of bracket at $1,750 is quite possible. As long as the price keeps the last low at $1,625buyers have the advantage.
The RSI is back at the level of the bullish trendline. It would take a bounce set up for avoid breaking the trend initiated since the end of 2022. A development above 58 would allow buyers to regain control of momentum on a weekly basis.
Buyers Defend Support at $1,850 on Ethereum Price
Ethereum evolves within a tidy enter here support area at $1,850and the resistance zone at $1,920 :
Buyers seem to defend the bracket at $1,850, but it would take a strong rebound to show that the buyers are stronger than the sellers. The objective of the buyers is to take over the $1,920 zone as support. If the support gives way, the price could go back to the level of the next support located at $1,770. The RSI is solidit continues to show ascending lows and highs above the bearish trendline. Buyers have their hands on short-term momentum.
Ethereum price continues to move below the resistance at $2,000 on a weekly basis. It will be necessary to go back above this level to try to find the resistance at $2,400. In the very short term, the price is moving towards the support level at $1,850. Buyers need to react to avoid sliding towards the next support located at $1,770.
Take advantage of the opportunities to buy low-cost cryptos that the market offers us! To not miss the opportunity of a lifetime, register quickly on the Binance platform. Save 10% on your trading fees by following this link! (Commercial link)