ETHEREUM (ETH) has seen a significant decrease in the price, decreasing from 2800 dollars to about 1900 dollars in recent weeks. This decrease led to a significant decrease, the first of its kind in two years.
However, the current price procedure may also indicate that the recovery may be on the horizon.
Ethereum has a snapshot in healing
ETHEREUM price recently decreased from the first time the price for the first two years, an evolution of concern among some investors. This decrease caused a decrease in the percentage of market value (MVRV), indicating that investors face about 7 % losses.
Although this may seem to fall at first glance, it already provides a potential upward signal. The previous time that Ethereum faced this position, altcoin folded strongly, and the MVRV ratio improved with the price recovery. This style gave some market participants in the hope that the current situation will lead to a similar recovery.
At the macro level, the overall momentum of Ethereum shows signs of improvement despite the last recession. The change of the net exchange site, which tracks the ETH flow to the stock exchanges and outside.
This indicates that investors accumulate ethereum instead of selling it, which is a positive sign. Investors believe that the current low prices are an opportunity to buy, and expects a price increase in future.
This shift in the investor’s behavior is reflected in the purchase of 138,000 ETH at a value of $ 262 million this week. The capital flow to Ethereum supports the idea that many investors put themselves in a recovery.
Eth Eyes Gathering Eyes
ETHEREUM is currently trading at $ 1,897, a decrease of 32 % over the past two weeks. Altcoin maintains the level of support of $ 1862, which can serve as a basis for a possible bounce. If Ethereum maintains this level, he may find its way to high prices in the coming weeks.
In order for Ethereum recovery to confirm, it must penetrate and stir $ 2,141 to support. This level is very important for ETH to move about $ 2,344 and secure a more sustainable upward movement. The factors that have been discussed, including RESI restoring and accumulating investors will contribute to ETHEREM’s ability to reach this goal.
However, if the wider market conditions increase, ETHEREUM may decrease without support of $ 1,862, which pays the price to $ 1745 or even $ 1,625. The decrease in these levels would slow down the upward view and suggest more negative side capabilities.
Disintegration
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