DeFi within reach on Coinbase – While the bridge linking the Base network to Ethereum is ready, the public launch of Base is scheduled for August 9. Volatility in cryptocurrencies is currently at an all-time low, with the Bitcoin price hovering around $29,000. Ethereum is trading at around $1,850but one piece of data shows that interest rates could rise again in the coming months.
Ethereum price stagnates in 24 hours
Ethereum continues to trade around 1,850 dollarsbuyers and sellers neutralize each other. The course stagnates in 24 hoursand within a week Ethereum price falls by just over 1 :
In the space of a month, the price of has fallen by over 5%.. In three months, the share price drop of over 6%.. However, the share price has remained in the green for six months. In fact, the share price is up nearly 10% in six months. The ETH/BTC pair down 1.5% in one weekbut it has stagnated for a month.
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Ethereum network transactions stabilize
To find out thecryptocurrency industry crazeThere are a number of data points to consider. For example, we can look at theinterest in social networksor at market sentiment. You can also look at on-chain information with theevolution of the number of new addresses on Bitcoin or Ethereum. Here, we’ll be looking at transactions carried out on the Ethereum network :
As you can see, in times of bull marketthe transactions are trending upwards. This was the case in 2017 and even more recently in 2021. On the other hand, as soon as the bull market is overthe number of transactions tends to drastically fall.
If the number of transactions a for the whole of 2022the trend appears to be changing. Indeed, since the beginning of the year, we can see that the number of transactions has stabilized. The trend is potentially changing, and a return to higher transaction levels could be on the cards in the months ahead.. This would show that the hype is indeed back on Ethereum and cryptocurrencies.
Ethereum price slips below support at $1,850
Ethereum displays descending lows and highs in 4H time units. For the time being sellers have the upper handand the share price moves below support at $1,850 :
In fact, the price could once again be reject at the 1,850-dollar zone. If this is the case, the price could return to the level of the next support at $1,770. Buyers are aiming to take back the $1,850 zone as support. To confirm a change in momentum, the price will need to close above 1,880 dollars. The RSI shows solida fence above 58 would continue to post rising highs and lows.
Despite the current lack of interest in the cryptocurrency sectorthe situation seems to be changing. After many months of falling prices, the number of transactions on the Ethereum network is stabilizing. In the coming months, it’s possible that the number of transactions will start to rise again, a sign that operators are making a comeback. The Ethereum price is bearish in the short term until the $1,850 level is taken back as support.
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