Worry about the Ethereum Blockchain – In the night, the Ethereum beacon chain stopped validating blocks. A malfunction that did not last long, but which has the particularity of making the operators react. The price of Ethereum, which was already fragile, took the opportunity to fall by 4% in 24 hours. Could the fall continue?
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Ethereum price drops more than 4% in 24 hours
The cryptocurrency sector has been struggling for a few weeks. THE ethereum price starts a new day in the red with a fall of more than 4% in 24 hours :
In one week, the leader of altcoins shows a drop of more than 7%. Nevertheless, the course is in 15% increase in three months. The ETH/BTC pair 0.7% drop in 24 hoursbut it remains positive within a week.
Ethereum among the most important cryptocurrencies on social networks
In this kind of moment of anxiety, the operators let loose on the social networks. This is also the case before important events like during the Shanghai update. It may be interesting to know how different cryptocurrencies can make people react on social networks. Unsurprisingly, it is Bitcoin that takes the top spot in the top 10 in terms ofsocial media activity :
Ethereum, for its part, occupies the second place. This is also not a surprise, as it is the second capitalization of cryptocurrencies. Ethereum is ahead of the Memecoin of the moment: the PEPE. Indeed, the PEPE recently reacted on social networks when its price soared. However, the price of the PEPE is in the process of plummeting, it shows a decrease of more than 75% from above. A token that could quickly be forgotten if the price continues to fall…
Direction $1,650 for Ethereum price?
With this fall, the price tries to break the bracket at $1,770. If it is not a deviation, the price could fall towards the next support located at $1,650i.e. an additional fall of 5.5% :
Buyers need to react to avoid losing support. In this case, the price could join the resistance at $1,850. With the movement of this night, the price marks an “M top” in 4H, and sellers take over. For its part, the RSI is also in the hands of the bears.
The cryptocurrency industry has been struggling for a few weeks, and Ethereum’s price looks fragile. In 24 hours, the price of ETH lost 4%. If the buyers do not react, the price could reach the support at $1,650. Cryptocurrencies have not finished occupying space on social networks…
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