Security or not, Ether looks poised to hold the $1.8K level based on 3 key metrics
1 min read
Ether’s price retested $1,780 after the news of the United States Securities and Exchange Commission (SEC) suing cryptocurrency exchanges Binance and Coinbase, but it’s not preposterous to suggest that Ether bulls should be more than happy that its price did not break below the 67-day support.
The SEC’s actions are actually a double-edged sword for Ether (
Ether’s price looks poised to hold above $1,800
In short, these three indicators signal resilience — namely, the TVL bounce to 14.6 million ETH, the 4% increase in DApps’ active addresses and a meager impact on Ether derivatives markets, despite the retest of the $1,800 level.
Ethereum network usage data remains healthy, and the recent retest of the 67-day support was not enough to scare professional traders, according to derivatives metrics.
Consequently, bulls seem to have dodged a bullet, greatly reducing the risk of an imminent price crash.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
