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ETH Needs To Maintain These Demand Walls To Continue Moving Up

Published 02/09/2023, 03:00 AM
Updated 02/09/2023, 03:30 AM
© Reuters ETH Needs To Maintain These Demand Walls To Continue Moving Up

  • ETH is currently trading hands at $1,634.76 after a 2.37% drop in price.
  • $1,600 to $1,650 levels represents a significant area of support for ETH.
  • 8 million ETH was bought between the price of $1,600 and $1,650.

The largest altcoin by market cap, Ethereum (ETH), is starting the day in the red. Data from CoinMarketCap indicates that ETH is currently trading hands at $1,634.76 after a 2.37% drop in price over the last 24 hours. The altcoin reached a high of $1,678.28 and a low of $1,615.06 over the same time period.

Ethereum / Tether US 1D (Source: TradingView)

ETH also weakened against its biggest competitor, Bitcoin (BTC), by about 0.31% over the last day as well. It is also in the red by more than 1% over the last seven days.

ETH’s 24 hour trading volume is in the green zone and currently stands at $8,701,463,354 billion after more than 2% increase since yesterday. In terms of market cap, ETH currently stands at $199,859,159,771. The current circulating supply for ETH now stands at 122,373,866 ETH.

A crypto enthusiast took to Twitter on February 8 to share his own thoughts on the price of ETH and what the price of the altcoin could do in the coming…

The post ETH Needs To Maintain These Demand Walls To Continue Moving Up appeared first on Coin Edition.

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