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    Ethereum (ETH): 25 January Price Digest 

    Ethereum price digest

    Last week, Ether (ETH) exceeded $3,200, but on the weekend, this coin began to fall in price along with Bitcoin. ETH dropped to $2,182 last night, and some traders were talking about the inevitability of testing values ​​below $2,000.

    However, on the night of Tuesday, January 25, the coin bounced back a little and bounced off the key support zone. 

    Ethereum is currently trading at $2 424,0. Its capitalization is $289 200 825 675.

    Experts identified $2,200 as a strong support zone. Most likely, the cryptocurrency will hold above this psychological mark. However, it needs to break resistance around $2,500 to regain ground.

    Data on the outflow of ETH from exchanges can play a positive role. According to the Santiment report, the top 10 whale wallets currently hold 3.52 million ETH on the marketplace: it is the lowest figure since the summer of 2015. OTC addresses of large investors, on the contrary, are growing. They have already accumulated a record amount of ETH (26.22 million coins). The supply reduction of cryptocurrency in the market should stimulate the growth of its value, analysts predict.

    Digging into some of the network's key metrics, we can better understand the magnitude of the crypto crash that took place this weekend. A chart of BTC’s Net Realized Gain/Loss, a metric that tracks market-wide net spending on the network, shows that the magnitude of this collapse is largely comparable to the infamous May 2021 sell-off.

    Ethereum Price Digest

    The current crisis can also be viewed as a series of consistent stable corrections that began as early as November last year. The crypto market seems to have taken a breather after the events of the weekend as many major cryptocurrencies are now trying to stabilize above their support zones. Over the past day, BTC has grown by 5% to $36,000.

    Over the past 24 hours, BTC has risen by 5% to $36,000. Former growth leaders AVAX and FTM, which have also shown negative figures recently, have finally come out of hibernation and began to grow. FTM has recovered the fastest thanks to the steady and consistent growth of its TVL and currently appears to be consolidating in a relatively strong position.

    The content of this article is for informational purposes only and should not be construed as investment advice. We ask you to do your research. This text is not a guide to action. The author's opinion may not coincide with the opinion of CoinJoy.

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