Ethereum Cost Basis Data Signals Strong Support At $1,886 – Details
The Ethereum (ETH) market has experienced some recent good fortunes rising by over 5% in the past 24 hours. Despite this price gain, the prominent altcoin remains in a downtrend as indicated by its 11.17% loss in the past week. However, prominent analytics platform Glassnode has discovered an important price level that could offer some short-term support. Related Reading: Ethereum Consolidates Since ‘The Big Dump’ – Local Trend Reversal Or Continuation? Investors Boost Accumulation By 300,000 ETH At This Price Region – What Could It Mean? In an X post on March 14, Glassnode provided....
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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....
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....
On-chain data shows Ethereum has broken under all major investor cost basis levels, except for one. Here’s where this price level is currently situated. Ethereum Has Only Realized Price Of Mega Whales To Rely On Now In a CryptoQuant Quicktake post, analyst MAC_D has discussed about where the next major support level could lie for Ethereum. The line in question is a version of the Realized Price. The “Realized Price” is an on-chain indicator that, in short, keeps track of the average cost basis of investors belonging to a given ETH cohort. When this metric is under the....
Data from Glassnode shows the Bitcoin long-term holder cost basis is currently above the realized price of the crypto. Bitcoin Long-Term Holder Cost Basis May Have Hints For Bear Market Length As per the latest weekly report from the analytics firm Glassnode, the LTH cost basis has remained below the realized price for a period […]
In this month’s The Bitcoin Monthly, ARK Invest focused on Ethereum and the Merge. As a side dish, they did publish some premium and review-worthy stats that we’re about to cover. Never mind the market, the Bitcoin network keeps producing block after block regardless. The stats that this whole activity produces can be critical in understanding the market, though. Related Reading: WATCH: Waiting On The Bitcoin Monthly: Will Crypto Sink Or Soar? BTCUSD August 31, 2022 That’s where ARK Invest’s The Bitcoin Monthly comes in. The publication defines itself as “an “earnings report”....