Ethereum Key Support: Cost Basis Data Points To $1,890 As Make-Or-Break Level
In line with major losses across the crypto market, Ethereum (ETH) declined by 17.08% in the past week reaching as low as $2,104. While the prominent altcoin has shown some minor gains in the past 12 hours, the general market sentiment remains bearish. Related Reading: Ethereum Retraces To Critical Monthly Demand Level – Can ETH Hold Selling Pressure? ETH Correction Likely Headed To $1,890 – Here’s Why The ETH market is currently navigating a strong market correction with several analysts now spotlighting potential key support levels. According to prominent on-chain analytics....
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On-chain data suggests an Ethereum close under the $1,530 level could lead to a significant drawdown for the cryptocurrency. Ethereum Support Levels Below $1,530 Are Very Thin Currently In a new post on X, analyst Ali has discussed what the support and resistance levels of Ethereum are looking like right now. These support and resistance levels aren’t the technical ones, however, but rather ones based on on-chain analysis. The support and resistance levels here are defined based on the density of investors’ cost bases. The “cost basis” here refers to the average....
Bitcoin has approached the $30,000 mark with a sharp rally today, but on-chain data suggests the level could provide some major resistance. 1.49 Million Addresses Bought Around The $30,000 Level According to data from the market intelligence platform IntoTheBlock, the most significant potential resistance for BTC is at the current levels. The “resistance” here refers to not the technical resistance, but rather the on-chain one. From the on-chain perspective, levels are defined as resistance/support on the basis of the concentration of investors/addresses who bought at said....
Ethereum started a major decline from the $2,970 zone against the US Dollar. ETH dived below $2,800 and might accelerate lower below the $2,700 support. Ethereum started a major decline after it failed to surpass $2,970. The price is now trading below $2,800 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $2,900 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline further if there is a close below the $2,700 support zone. Ethereum Price Dives Ethereum struggled to settle above the $2,950 resistance. ETH....
Ethereum price surged higher and created a new high above $9.5. Let’s see whether it can rise further in the near term. Intraday Support Level can be $7.80. Intraday Resistance Level may be $9.00. Ethereum price rocketed higher during the past two days. Both days we were looking to buy Ethereums and our plan worked perfectly. First, we were looking to buy with a break, and then yesterday, I suggested to buy dips. The price did correct a few points down yesterday, and then found buyers. There was a sharp upside reaction after the correction was completed. The price climbed higher and even....
Ethereum price is back in the bullish zone after a mild correction against the US Dollar, and it looks like ETH/USD may break $10.65 soon. Key Highlights. ETH price gained pace after a correction towards the $10.35 support against the US Dollar. This week’s highlighted connecting resistance trend line on the hourly chart of ETH/USD (data feed via SimpleFX) is still acting as a resistance near $10.65. The price may once again correct a few points down before making an attempt to break $10.65. Ethereum Price Resistance. There was a minor correction initiated in ETH price against the US....