Ethereum, a decentralised open source blockchain system, features its own crypto asset Ether. ETH can be used as a platform to exchange many other crypto assets and for the execution decentralised smart contract. Over the last 24 hours, Ethereum has dropped by 2.2%. The volume flow has increased by 35% over the past 24 hours. Ethe’s market capital is currently at $240 billion, which is 2% less than the previous day.
At the time this article was written, ETH was trading for $1,985.
ETH traded in the red over the past seven consecutive weeks. The asset started this week in red. The prices are not falling to new lows. After falling to $1,763, ETH has found support at the $1,750 level (Horizontal Trendline 200 Week Moving Average, 127% Fibonacci Rectangle Level). This has been a sign of recovery. The asset is consolidating and trading between $2,150 and $1,900 with very low volumes. The trend will be further determined by breakouts at either end of the range, which are accompanied with high volumes.
Support 2Support 1AssetResistance 1Resistance 2$1,750$1,900ETH$2,150$2,400
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