Shop Sephari

Ekta Mourya Ekta Mourya
FXStreet

Ethereum price struggles to recover against the rising volume of ETH tokens deposited in the staking contract. Nearly 2 million Ethereum tokens have been burned so far, fueling a bullish outlook among investors. 
Ethereum price’s bullish outlook comes after the total volume of Ethereum deposited in the ETH2 staking contract exceeded 10 million. The explosive growth in volume promises a certain amount of ETH in constant staking rewards for investors. 
Based on data from crypto intelligence platform IntoTheBlock, over 65,910 unique Ethereum addresses contributed to the ETH staked, which totals 8.4% of the altcoin's circulating supply.
Interestingly, nearly 2 million ETH tokens have been burned since the London hard fork. The altcoin's supply is shrinking with the reduction in the number of ETH in circulation and the burn. Historically, this fuels a bullish breakout in the altcoin's price. 
Proponents have noted a drop in transaction fees on Ethereum's network. The cost of transfer has dropped to 2021 lows on the altcoin's blockchain. Low transaction costs attract users and fuel demand for the altcoin among investors. 
Analysts have evaluated the Ethereum price trend and predicted a bullish breakout. @DaCryptoGeneral believes the Ethereum price trend could be bullish or bearish, depending on the direction in which the symmetrical triangle breaks out. 
An upside breakout could push the Ethereum price to $5,500 – the downside target is $1,700. 
$ETH (1D) price might be bullish or bearish depending on the breakout direction of symmetrical triangle.

If it breaks to upside my target would be $5500 & if it breaks down the downtrend will continue and would target $1700#Ethereum pic.twitter.com/GgAJpfBC43
Ran NeuNer, cryptocurrency analyst and founder of Crypto Banter, believes that Ethereum is teasing us with a potentially massive breakout. Post the bloodshed; the largest altcoin is leading the way in the ongoing recovery of cryptocurrencies. 
Ethereum could break out of the daily descending resistance trend line from November 2021 in a new price rally, according to NeuNer. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Vasil hard fork is scheduled for September 22. Analysts evaluated Cardano’s potential to climb above all-time highs of $3.01 ahead of the massive event.
Bitcoin price has not only swept key swing lows, as noted in last week’s articles, but it has also reached its first recovery level target. While the recovery rally was as quick as it was a surprise.
Shiba Inu price shows a strong adherence to the immediate support level despite the recent crash. However, investors need to be careful as the current position of SHIB could push it either way.
ApeCoin price has been on a massive downtrend as most altcoins have in the last month. However, APE seems to be coiling up to trigger a massive and explosive recovery rally. 
Bitcoin price has not only swept key swing lows, as noted in last week’s articles, but it has also reached its first recovery level target. While the recovery rally was as quick as it was a surprise, investors can hope for a minor retracement to get on the next leg-up.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXStreet are those of the individual authors and do not necessarily represent the opinion of FXStreet or its management. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXStreet will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

source

Shop Sephari

Leave a Reply