The original code for ETHEREUM, ETHER (ETH) continues to unite less than $ 2000, which some traders see as a psychological level. The ether price decreased to less than this range on March 10, and Altcoin continues to trade with its lowest value since October 2023.
ETHEREUM scheme for 4 hours. Source: CointeleGRAPH/TradingView
The ether price also lost the market value in relation to the other major Altcoins, as the price of XRP reached its highest level against ETH in five years on March 15.
The real question between investors is whether ETH is able to restore part of its recent losses or whether traders will surrender if the price is less than 1900 dollars.
Ethereum traders can jump if the price decreases to less than 1900 dollars
according to Data from InTothheblockData Analysis platform, ETHEREUM holders accumulated 3.56 million eth between $ 1900 and $ 1843, at an average price of $ 1871. Therefore, the current accumulation value is currently $ 6.65 billion. This indicates that the ETH price has a strong support level ranging from $ 1900 and 1843 dollars, which can serve as the upscale reflection area.
ETHEREUM inside/outside the plan. Source: x.com
However, if the Ether decreases to less than $ 1843, the data indicates the possibility of surrendering fears. Surrender is the morale of the market where investors tend to panic, and sell their positions confused while correcting the sharp market. If ETH is merged for a long time less than $ 1843, the probability of a deeper correction increases significantly.
Less than $ 1,843, the size and size of the ETH accumulation is significantly lower, which shows the most important support range from 1900 to $ 1,843.
Likewise, the percentage of ETHEREUM addresses under profit decreased to its lowest level since the start of the contract. It is the lowest value since December 2022 at less than 46 %.
Eth: the percentage of addresses in profit. Source: x
The low percentage of profitable addresses historically indicates the price of ETAREUM. Looking at the high accumulation of ETH and less profitable addresses, these factors may serve as upward signals. As a result, the possibility of integrating Ethereum is less than $ 1843 in the long run.
Hitesh Malviya, Founder of Dyor Crypto, He said It is not “a great time to seize eth.” In the X Publishing, Malviya has highlighted the last rise in the real world (RWAS) assets in this industry, with a 50.9 % increase in growth over the past thirty days and an annual increase of 850 %, with ETHEREUM and ZKSYNC over 80 % of the total market share.
RWA market share on L1s. Source: x
Related: Bitcoin 'Bullish Cross' with average mesh of revenue by 50 %-again
The long/short ratio indicates an ethereum to a neutral market
Alphractor, the encryption data analysis site, has reviewed the current market morale of ETHER based on the long/short percentage, a measure to assess the percentage of reckoning with future traders to increase prices (long) against declines (short pants).
Whales against the retail rate. Source: x
According to table Above, the largest investors tend to job for long positions, while smaller investors are in the process of reduction. The forgery means relaxing the risky and borrowing situations, which reduces market fluctuations and the benefit of trading learned.
With the current percentage at 1.3, the long/short percentage indicates a balanced but careful market. Alfredakal added,
“This indicates that, in the short term, Ethereum suffers from low fluctuations and low interest in the leverage, which may leave many exhausting traders and patience.”
Related: ETHEREUM ONSAIN data indicates that the price of ETH 2 thousand dollars is now far
This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.
Comments are closed, but trackbacks and pingbacks are open.