At the time of writing, the Ethereum price is still hovering above the 9-day and 21-day moving averages but if the bulls step back into the market, the price can rise higher and break to the upside. Ethereum Price Prediction: Ethereum Price Not Ready for The UpsideEthereum is a global, decentralized platform for money and new kinds of applications.

However, if the Ethereum price penetrates below the current market value, the cryptocurrency may continue a downward movement. The latest price for 1 ether.Ethereum Ranging. What we thought was a bull wedge in ETH has evolved into a horizontal channel between 3148 and 3324. We are still seeing a clear affinity for higher levels, but watch out for the vacuum zone down to 2965. After that is another wide vacuum zone to 2651.According to the daily chart, if the sellers continue to add downward pressure to the Ethereum price, initial support could be expected at $3300 while further support can be found below the lower boundary of the channel at $3000, $2800, and $2600 respectively.

'We see this in the growth of ethereum addresses, up 65% just last quarter, as well as a 75% increase in the number of on-chain transfers of NFTs in last seven days. Meanwhile, bitcoin trading volume made up just 24% in the second quarter, down from 39% in the first.'This is in large part due to the growing momentum behind the ethereum ecosystem,' Jack O'Holleran, the chief executive of ethereum app platform Skale Labs, said in emailed comments. Last week, ethereum underwent a major upgrade that's aiming to help the blockchain scale and make surging transaction fees more manageable.Ethereum trading made up 26% of Coinbase's total volumes in the second quarter, up from 21% in the previous three months. Almost all DeFi funds and NFTs are currently based and traded on ethereum's blockchain.The scramble for ethereum-based crypto apps and services has led many in the crypto community to predict ethereum could overtake bitcoin as the world's biggest cryptocurrency by value. The ethereum price has soared over the last year, climbing over 700%, as decentralized finance (DeFi)вЂ”using crypto technology to reinvent traditional financial products like loans and insurance without the need for banksвЂ”and non-fungible tokens (NFTs)вЂ” unique digital crypto tokens tied to online mediaвЂ”have both become multi-billion dollar markets. In todays video, we will discuss the Bitcoin price, the Ethereum pric.Moreover, the technical indicator Relative Strength Index (14) is seen moving around 55-level which shows that the previous bullish momentum is likely to fade.

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