• News
    • Bitcoin
    • Altcoins
  • NFT
  • Metaverse
  • Analysis
  • Regulation
  • Learn
  • Market Cap
What's Hot

Belgium to introduce new crypto ad regulation

2023-03-21

Exploring the Metaverse: A Guide to Investing in Metaverse Stocks

2023-03-20

Taiwan orders financial watchdog to take over crypto regulations

2023-03-20
Facebook Twitter Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
Facebook TikTok Instagram YouTube
CryptoNewsMetaverse
  • News
    • Bitcoin
    • Altcoins
  • NFT

    Meta Shuts Down NFT Project to Focus on FinTech and Content

    2023-03-14

    Solana’s Solend V2 Release, Is SOL Price $50 Next?

    2023-03-06

    Amazon NFT Marketplace To Reportedly Launch Next Month

    2023-03-06

    Blur Coin Under Fire As Allegations Of Wash Trading Emerge

    2023-03-01

    Yuga Labs Launches A New NFT Collection on Bitcoin Network

    2023-02-28
  • Metaverse

    Exploring the Metaverse: A Guide to Investing in Metaverse Stocks

    2023-03-20

    A Guide to Virtual Land Staking in the Metaverse

    2023-03-20

    Nissan Doubles Down on Web3 Innovation

    2023-03-13

    As Fashion Moves into the Metaverse, What Other Industries Could Be Next

    2023-03-13

    South Korea Launches New ‘Metaverse Fund’

    2023-03-13
  • Analysis

    DOJ Officially Seizes Over $456,000,000 Worth of Robinhood Shares Tied to FTX Founder Sam Bankman-Fried

    2023-01-08

    Mark Cuban Makes Prediction on Next Crypto ‘Scandal,’ Warns of Potential Implosion if Exposed: Report

    2023-01-08

    Binance Listings Cause Crypto Assets To Spike an Average of 41%: New Research

    2023-01-08

    Bitcoin Whales Unloaded BTC As Market Reversed and Parked Their Profits in This Crypto Asset Class: Santiment

    2023-01-07

    Crypto Analyst Predicts Breakout for AI-Focused Altcoin, Updates Outlook on Ethereum and Lido DAO

    2023-01-07
  • Regulation

    Belgium to introduce new crypto ad regulation

    2023-03-21

    Taiwan orders financial watchdog to take over crypto regulations

    2023-03-20

    Florida Governor Moves to Ban CBDCs, Calls for Coalition of States to Follow Suit

    2023-03-20

    Florida Governor Ron DeSantis seeks to ban US CBDC in state

    2023-03-20

    Cardano Creator Charles Hoskinson Slams Politicians for Blaming US Banking Crisis on Crypto

    2023-03-20
  • Learn

    What are Dapps (Decentralized Applications) Crypto?

    2023-03-17

    How to Short Sell Bitcoin

    2023-03-17

    Why Decentralized Exchanges Are On Rise? Can INNODEX Surpass Binance and Uniswap?

    2023-03-15

    What is it & List of Top defi 2.0 Projects

    2023-03-13

    Centralized (CEX) vs Decentralized (DEX) Cryptocurrency Exchanges

    2023-03-06
  • Market Cap
CryptoNewsMetaverse
Home»Altcoins»Ethereum (ETH) Price To Surge After Hitting These Key Levels
Altcoins

Ethereum (ETH) Price To Surge After Hitting These Key Levels

2023-01-18No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Among other cryptocurrencies, the price of Ethereum (ETH) in 2023 has continued to demonstrate impressive strength in the broader crypto market. In spite of the fact that some market participants may still be skeptical, there is a chance that ETH may surge significantly based on the technical factors currently favoring the second-largest cryptocurrency by market cap.

Ethereum’s Key Price Levels

The ETH price has delivered nine consecutive days of green daily candles, demonstrating significant market vigor. Since ETH had its most recent halt at around $1,197, the newly discovered uptrend has recovered 25% of the market value that investors had lost. However, according to a well-known crypto analyst Crypto Tony, the price range of $2,250 – $2,500 determines a key level for ETH. Breaching these price levels will validate a price bottom for further uptrend.

Ethereum (ETH) price

He goes on to say that the decline in the price of Ethereum will greatly depend on the state of the stock market and global economics for the remainder of this year. Additionally, the Relative Strength Index (RSI), an indicator that is used to evaluate the underlying power of market participants, demonstrates that the price of ETH is in severely overbought conditions near the level of 90. In January 2021, when Ethereum momentarily marked $1,300 and established a new all-time high, the RSI read 90 for the last time.

Factors Driving ETH Price

On Monday, the number of Ethereum addresses that have a balance greater than zero reached a new all-time high of 92.5 million, breaking the previous record set on Friday. It does not appear that the bear market of 2022, which ended in the closure of one of the world’s formerly largest cryptocurrency exchanges in November, had any effect on the growth in the number of addresses that have a balance greater than zero.

Ethereum (ETH) price

Read More: Bitcoin Bulls Need to Clear This Key Level For BTC Price To Rally

In addition, according to a report recently published by the blockchain software development firm Alchemy, the number of smart contracts implemented on the Ethereum mainnet increased by an astounding 300% in 2022. And, in spite of the bear market of 2022, smart contract deployment growth essentially matched the rate of growth experienced in 2021. At the end of Q4 2022, 4.6 million smart contracts were active on the Ethereum blockchain, according to the research.

Ethereum (ETH) price

As things stand, the price of Ethereum (ETH) is currently being traded at $1,598. This represents an increase of 0.96% in the past 24 hours, in contrast to its 19.76% jump during the last seven days, as per CoinGape’s crypto market tracker.

Also Read: Crypto Fraudster Charged In $4.5 Bn Bitcoin Theft Lands New Marketing Job

Pratik has been a crypto evangelist since 2016 & been through almost all that crypto has to offer. Be it the ICO boom, bear markets of 2018, Bitcoin halving to till now – he has seen it all.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.



Source link

ETH Ethereum hitting Key Levels Price Surge
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Ethereum co-founder praises Gary Gensler as ‘shining knight of decentralization’

2023-03-16

Here’s Why Ethereum Is Not a Security, According to Crypto Think Tank Coin Center

2023-03-12

$429,000,000 in Bitcoin and Crypto Liquidated in Just 24 Hours As Powerful Law Enforcement Agency Targets Ethereum

2023-03-10

Crypto lawyer rallies Ethereum investors in class action lawsuit against NYAG’s ‘securities’ label

2023-03-10
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Veteran Trader Tone Vays Says Bitcoin Could Explode 450% Next Year Despite Recent Crash – Here’s Why

2022-11-12

If this moving average is breached, Axie Infinity will witness…

2022-04-08

Shiba Eternity Fails To Pump Shiba Inu Price? What’s Next

2022-10-06

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, NFT, Metaverse and more.

We're social. Connect with us:

Facebook Instagram YouTube TikTok
Top Insights

Belgium to introduce new crypto ad regulation

2023-03-21

Exploring the Metaverse: A Guide to Investing in Metaverse Stocks

2023-03-20

Taiwan orders financial watchdog to take over crypto regulations

2023-03-20
Get Informed

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
© 2023 Cryptonewsmetaverse.com. Designed by ProdigitalX.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$28,182.000.61%
  • ethereumEthereum(ETH)$1,809.602.24%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.01-0.12%
  • binancecoinBNB(BNB)$337.750.00%
  • usd-coinUSD Coin(USDC)$1.00-0.20%
  • rippleXRP(XRP)$0.42415210.72%
  • cardanoCardano(ADA)$0.3542233.54%
  • matic-networkPolygon(MATIC)$1.161.46%
  • Lido Staked EtherLido Staked Ether(STETH)$1,814.092.49%