Weak stocks and declining DeFi use continue to weigh on Ethereum price
Crumbling tech stock prices, declining DApp use and bearish derivatives data continue to pin ETH price below $2,000. Ether’s (ETH) 12-hour closing price has been respecting a tight $1,910 to $2,150 range for twelve days, but oddly enough, these 13% oscillations have been enough to liquidate an aggregate of $495 million in futures contracts since May 13 according to data from Coinglass.Ether/USD 12-hour price at Kraken. Source: TradingViewThe worsening market conditions were also reflected in digital asset investment products. According to the latest edition of CoinShare's weekly Digital....
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Ethereum is struggling to recover above the $345 and $350 resistance levels against the US Dollar. ETH price is likely to continue lower below $330 unless it recovers above $355. Ethereum corrected a few points higher, but it failed to climb above the $350 level. The price is declining below $345 and it is well […]
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Ethereum failed to stay above $1,650 and extended losses against the US Dollar. ETH might continue to move down towards the $1,500 support zone. Ethereum started a downside correction after it settled below the $1,700 level. The price is now trading below $1,650 and the 100 hourly simple moving average. There was a break below a declining channel with support near $1,610 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down towards the $1,550 support or even $1,500. Ethereum Price Extends Decline Ethereum failed to stay above the $1,700 level and....
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