Ethereum and the other major altcoins, as well as BTC, have reached their immediate support levels. This indicates that bears remain active at higher levels. The asset fell by approximately 6%, with an increase in volume of around 3%. CryptoQuant, an on-chain analytics company, highlighted the rising Ether (ETH), outflows from major exchanges. This totaled $1.87million in coins as of July 22, 22. The results of crypto exchanges suggest that traders are bullish for the long-term and might shift coins to more secure crypto wallets to increase their security. The market capitalization stands at $ 172 trillion and ETH has 18.04% of the dominance.
ETH traded at $1,432 as of the writing of this article.
Chart for Ethereum (ETH).
After hitting $881, ETH traded in a range of $1,000 to $1275. Finally, the asset broke out on the upside and prices soared to $1665. The bulls were unable to break the resistance at $ 1,700 (lows of the previous Double Bottom pattern), and prices dropped to $1,400. The 20-day moving average of $1,275 is a strong support for ETH. The bulls could resume their uptrend if it holds above this support. The asset must break above $1,700 in order to continue its rally.
Support 2Support 1AssetResistance 1Resistance 2$1,000$1,275ETH$1,700$1,950
Disclaimer: This report should not be regarded as investment advice. It does not consider the financial situation, investment goals or needs of investors. When deciding whether an investment is right for them, all investors should take into account these factors and consult with a professional advisor. This report was prepared by the Company using information that it has access to, as well as information from public sources that have not been independently verified. The Company makes no representations or warranties, either express or implied, regarding the accuracy, reliability, completeness, correctness, completeness, or reliability of any information, opinions, or conclusions contained herein. This report is preliminary. The Company does not assume any obligation to revise or update the reports in the event of changes or unforeseen events. Trading and Investments in crypto assets viz. Bitcoin Cash, Ethereum, and Ethereum are highly speculative investments that can be subject to market risk. The Author’s analysis should be used only as information and should not be considered investment advice.
26th-July-2022 ZebPay.
