- summary:
- ETHEREUM price gained more than 12 % last week, but its main standards indicate the weakening of upward traction. Can you remain above 1800 dollars?
PRICE ETAREUM opened the trading without a brand of $ 1,800 on Friday, and increased by 0.8 % on the daily chart despite the acquisition of more than 12 % last week. However, the momentum on the product is optimistic, as the daily relative strength index is 53 years old. However, the currency will need to violate the 1800 dollar psychological resistance sign and flip it to the level of support.
ETHEREUM price momentum prefers the downside
Meanwhile, Spot ETF from Ethereum recorded the largest net flow in three weeks on Thursday. The nine -traded investment funds that were traded with $ 63.50 million of net purchases, leading to the increasing institutional interest in the currency. Also, Coinanalize notes that ETHEREUM’s open interest contracts have grown 0.82 % in the past 24 hours to reach $ 9.8 billion. This adds credibility to the potential continuity of the ups of the upholshore ETHEREUM.
On the negative aspect, the DEFI activity of the ETHEREUM series has been contracted over the past 24 hours, noting the low interest of ETH. According to Defillalama, the total value of Ethereum Locked (TVL) has decreased by 1.2 % in the past 24 hours, indicating the low interest of ETH coins. This momentum is likely to maintain the price of ETH under pressure in the near term.
In addition, net ETHEREUM flows from -$ 156 million to $ 86 million in the past two days. This indicates more ETH flows into exchanges, indicating high pressure pressure. This adds to the possibility that Ethereum Price will fight to violate a $ 1,800 barrier.
Predicting ETHEREUM price
Ethereum price is heard at $ 1,800 and the resistance at this level control sellers. Immediate support is likely to be at $ 1745. However, a stronger momentum will lead to a decrease in this level and the procedure can take less to test $ 1700.
On the other hand, the breaking of more than 1800 dollars will turn the momentum into the upper direction. With buyers control, the first barrier is likely to be at $ 1,836. The bullish narration will be invalid if the procedure exceeds this level. Also, expanded control by buyers can extend the gains for the second resistance test at $ 1876.
