Rancakmedia.com – Ethereum continued to fall analysis, above the daily price chart, Ethereum(ETH), the second largest cryptocurrency, is trading with significant downward momentum.
The popular crypto asset dipped below the 20-day, 50-day, 100-day and 200-day DMA. Investors in Ethereum (ETH) are hoping for a glimmer of optimism that their beloved cryptocurrency will make it through the tough times of the bear market.
The Ethereum cryptocurrency price is trading with significant negative momentum on the daily price chart. The popular crypto asset struggled to find takers and plunged sharply. Cryptocurrency main dominator Bitcoin has fallen below the $25,000 mark and is struggling to regain ground.
Ethereum(ETH), the second largest cryptocurrency behind Bitcoin, has also seen a decline in value. To save Ethereum's dignity in the cryptocurrency market, investors need to watch for any change in direction when the ETH token drops below the psychological milestone of $1,000.
This bear market continues to torment cryptocurrency investors as the index of fear of greed also reveals a state of acute fear among investors. Cryptocurrency Ethereum price is now CMP at $1184, down 2.94 percent from its 24-hour market cap.
Trading volume, on the other hand, has been up by 5.26 percent during the intraday trading session. This shows that buyers are still active in Ethereum transactions and they are still positive about the coin. They have faith in Ethereum, the second largest and most widely used cryptocurrency. The ratio of volume to market capitalization is 0.2809.
The ETH price is currently on a bearish bull run and is heavily influenced by the bears. The crypto asset faltered to find support from buyers and surged bearish above the charts. In order not to fall below the psychologically important $1000 mark, the coin must attract more buyers.
Higher-than-average volume shifts in favor of the downside. This suggests that ETH faced severe selling pressure in the previous few trading sessions. ETH will have to attract more buyers to sustain above the $1000 psychological milestone.
Will Ethereum ETH Survive or Be Restrained?
Will Ethereum ETH be able to maintain their gains or will they be held back? The Ethereum(ETH) currency needs to attract more buyers to avoid going below the $1000 psychological mark. Technical indicators imply the Ethereum currency's downward momentum.
Moreover, the supertrend verifies the negative spike of the ETH token above the daily price chart. Oversold, according to the Relative Strength Index. The RSI is at 21 and ETH investors may be anticipating any change in direction as soon as the RSI rebounds from oversold territory.
MACD displays the negative momentum of the ETH currency. The MACD line is located below the signal line following a negative intersection. The Ethereum cryptocurrency price is trading with significant negative momentum on the daily price chart.
The popular crypto asset struggled to find takers and plunged sharply. Now the second largest after Bitcoin i.e. Ethereum (ETH) has also fallen. To save Ethereum's dignity in the cryptocurrency market, investors need to watch for any change in direction when the ETH token drops below the psychological milestone of $1,000.
Technical indicators imply the Ethereum currency's downward momentum. The RSI is at 21 and ETH investors may be anticipating any change in direction as soon as the RSI rebounds from oversold territory.
Ethereum Flash Crash Sends Price Under $950 on Uniswap
Ethereum (ETH) price temporarily dropped below $950 on Uniswap decentralized marketplace overnight. Most exchange spot prices are currently $1.220 for ETH down by around 20% in the previous 24 hours.
This morning, many crypto investors and industry experts were bracing themselves for the price of Ethereum falling back into the triple-digit range after dropping around 20% the previous day.
But that happened last night on Uniswap's decentralized exchange (DEX), albeit temporarily, with the price of ETH exceeding $950 when a whale dumped more than 65,000 ETH onto the market.
It was widely reported on Crypto Twitter that the price was significantly lower than the spot rate on other exchanges, where it was around $ 1,300 at the time. Uniswap, on the other hand, saw only a slight decline in price before quickly regaining ground lost to the rest of the market.
Apparently, the temporary dip below $1,000 for ETH was largely driven by the aforementioned auction, which includes Uniswap and DEX competitor SushiSwap.
The average ETH transaction price of $1.156 is paid for 65,104 ETH sold from the vault in the Oasis DeFi app. Overall, nearly $75 million in ETH was traded at that price. Dollar-linked stablecoins, such as DAI, USDC, and USDT, are exchanged for ETH.
To cover loans to be repaid, Ethereum project adviser and angel investor Mariano Conti tweeted that investors are selling large amounts of ETH to “pay down debts and lower their risk” on the DeFi lending platform, maker of DAO.
However, it seems that sellers are receiving sub-optimal rates for transferring large amounts of ETH in a single transaction. The oracle price for ETH at the time was almost $200 above the average selling price in transactions, as seen by the Oasis data vault. Oasis also received a fee of around $152,000 from the seller as part of the transaction.
Just hours later, the owner of the same Oasis vault sold another 27,947 ETH at an average price of $1,181 each for another $33 million at that price. As before, the seller agreed to a lower price compared to the oracle estimate of $1.335 as the current market value.
According to CoinMarketCap statistics, Ethereum's price is now around $1.220, down more than 20% in the previous 24 hours and 34% in the last week since posting this price. From a peak of around $4.892 in November 2021, it is now down 75%.
It's not all bad news for the top cryptocurrency Bitcoin right now: down 17% today and 25% over the past week. Last November, Bitcoin hit an all-time high above $68.790 before falling to its current price of $23.366.
Ethereum price is trading with significant negative momentum on the daily price chart. Cryptocurrency dominator Bitcoin has fallen below the $25,000 barrier and is struggling to regain ground.
ETH will have to attract more buyers to sustain above the $1000 psychological milestone. Ethereum price is trading with significant negative momentum on the daily price chart. Most exchange spot prices are currently $1.220 for ETH down by around 20% in the previous 24 hours.