Ethereum (ETH) Price Set to Bounce off Support as Buying Momentum Surges Amidst Fallen Gas Fees

Ethereum (ETH) Price Set to Bounce off Support as Buying Momentum Surges Amidst Fallen Gas Fees
фото показано с : invezz.com

2021-6-2 11:20

Ethereum (ETH) has lost as much as 13% of its value in the past month as the broader market continues to experience a general price drop. The smart contract-focused blockchain network has continued to maintain its market dominance which is currently pegged at 18.6%. After a drop of 10% in the past month, ETH is now trading at $2,606.32 according to data from CEX.IO, down from its 7-Day high of $2,911.74.

Fundamental Analysis: Network Utility and Reducing Gas Fees

The usability of the Ethereum network was re-echoed by Yao Qing, a former PBoC official who said CBDCs can be built atop the network. On the fundamental front, the attractiveness of the Ethereum blockchain per the gas fees is currently being boosted as average charges on transactions is now $4.80, down from a figure as high as $70 back in May.

With the lowered fees, DeFi functionalities can be accessed more readily by retail traders, a situation that can boost price action.

Technical Analysis: ETH Seek Rebound From Key Support Zone 

Market bulls are currently in control of prices as depicted by MACD Indicator. However, the broader selling pressure seems to be pushing the price toward the $2,500 support level. 

The price is bound to hold at this point as a rebalancing will be sought to push the price to rebound from this point. This recovery, if sustained, will likely push ETH back to the $2,800 level in the short term, and $3,200 in the mid-term.

The post Ethereum (ETH) Price Set to Bounce off Support as Buying Momentum Surges Amidst Fallen Gas Fees appeared first on Invezz.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 2447.03 (-0.26%)
Объем 24H $19.086b
Изменеия 24h: 0.44 %, 7d: -7.53 %
Cегодня L: $2366.56 - H: $2469.68
Капитализация $294.664b Rank 2
Цена в час новости $ 2713.29 (-9.81%)

eth ethereum price market smart contract-focused drop

Источник: invezz.com

eth ethereum → Результатов: 126


Traders Rushing Back to Ethereum – Can ETH Recover This September?

It looks like the crypto market is entering a slow recovery mode, with most of the top 10 projects seeing nice jumps over the past week. However, Ethereum failed to follow the market sentiment, and remained around $2,300 level throughout the week – industry insiders are blaming a large number of ETH whales who liquidated […] The post Traders Rushing Back to Ethereum – Can ETH Recover This September? appeared first on CaptainAltcoin.

2024-9-18 17:30


Ethereum Price Prediction: Analyst Anticipates ETH Dropping to $2200, Sharks Join The Mpeppe Wave After 150% Rally

Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has recently been struggling to maintain its momentum in the face of bearish trends. Analysts have been observing Ethereum’s performance closely, and many are predicting a further decline in price, with some forecasting that ETH could drop as low as $2,200.

2024-9-7 20:27


Аналитики фиксируют рекордное падение комиссионных сборов Ethereum, предсказывая бычий тренд

Резкое падение комиссии за транзакции в Ethereum может стать предвестником бычьего тренда для токенов Эфира (ETH), лежащих в основе сети, говорят аналитики, ссылаясь на исторические данные. «Каждый раз, когда комиссия ETH падала до самого дна, это часто сигнализировало о снижении цен в среднесрочной перспективе», – заявил Райан Ли, главный аналитик Bitget Research.

2024-8-19 16:20


За месяц кит перевел 48 500 ETH на OKX

Команда аналитической платформы Lookonchain заметила движение капитала на кошельке, связанном с участником первичного размещения монет (ICO) Ethereum, который получил активы по цене в $0,31. A whale who received 1M $ETH in #Ethereum ICO at a price of $0.

2024-8-13 11:45


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Около 260 млн игроков покинули игру Hamster Kombat

Популярная «тапалка» Hamster Kombat больше не популярна. Игроки массово покидают проект. В начале августа ежемесячное количество игроков Hamster Kombat оставляло более 300 млн человек. К ноябрю этот показатель обвалился до 40,9 млн.

Bitcoin Price Forecast: What To Expect In The Final 24 Hours Before US Election

As the US presidential election approaches, the Bitcoin price has found a stable support range between $68,000 and $69,000, just shy of its all-time high earlier this year.   While the cryptocurrency has struggled to surpass this significant milestone, investor sentiment remains cautiously optimistic, with expectations for further price increases tempered by anticipated market volatility in the upcoming hours.

BNB price unfazed as Binance burns 1.7M tokens

Binance has burned over 1.7 million BNB tokens as a part of its quarterly burning initiative. On Nov. 1, Binance, the world’s largest cryptocurrency exchange in terms of trading volume, announced its 29th quarterly BNB token burn, where it removed…