- summary:
- Ethereum Price re -tested the $ 1,600 brand and reference to its momentum to a possible continuation of the upper side.
Ethereum Price remains higher than the $ 1500 psychological support for the third consecutive session, adding weight to a possible reflection. ETH has increased by 3.36 % in the last two sessions, as the TVL total value (TVL) has gained 1.88 % in the past 24 hours. This currency helped build traction and raise the possibility of re -testing a mark of $ 2,000.
The negative aspect to the high ETHEREUM prices is a 34 % decrease in trading volume in the past 24 hours. This indicates a decrease in the purchase of appetite, which will reduce the potential of the bullish trend of the currency. However, the forecasts of the institutional purchases have received a large boost this week after the Securities and Stock Exchange Committee (SEC) agreed to trade Ethereum Spot options, including products by Grayscale, Blackrock and BitWise.
Meanwhile, multiple news methods reported that the founder of Ethereum Vitalik Buterin gave a road map to improve the network privacy. The road map includes entering private access to the series on the series, special payments, and special readings on the series (remote procedures calls) and the identity. These improvements can attract a new category of customers who put a high value on their financial transactions.
However, performance is likely to be in the near -term ETHEREUM price limited to poor performance in the ETF market. According to Coinglass data, Ethereum Spot ETFS has reported net negative flows in the last four consecutive trading sessions, with a session on Friday -29.20 million dollars. However, the suspension of commercial tariffs by the United States has raised the investor’s confidence that may witness the return of deals next week to the positive side.
ETHEREUM price expectations
ETHEREUM price is preferred at $ 1,555, and the momentum is preferred to go up to continue if the procedure remains above this level. This momentum is likely to fulfill the initial resistance at $ 1615. It will become a controlled control by buyers above this level and can test the second barrier at $ 1678.
On the contrary, the breaking of less than $ 1555 will turn the momentum into the negative side. This first support that was created at $ 1492 will witness. The bullish direction would be invalid if the price is less than this level. In addition, this path can remove the second support test at $ 1,438.
