Latest Ethereum Price | Real-Time Updates
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Latest Ethereum Price | Real-Time Updates

written by John Murphy | February 24, 2023

According to on-chain and technical data, ETH’s surge stopped significant resistance levels, although downside risk seems to be comparatively small given the network’s activity.

Based on technical and on-chain research, Ether ETH tickers under $1,674 failed a bullish breakthrough, indicating that stability below the $2,000 price barrier may remain for the coming years.

Latest Ethereum Price

At the same time, a lack of sellers and solid fundamentals ultimately prevent dramatic drops in Ether. Due to short-term pressure in the altcoin market, negative investment sentiments, and limited stability levels, ETH/USD has climbed by 42.80% from the year 2023.

The uptrend has stopped at a significant bull-bear transition based on on-chain and technical considerations. The Relative Unrealized Loss measure from Glassnode calculates the loss amount recorded on Ether holders’ books.

The pivot line between bullish and bearish patterns is shown by the orange line; stabilization above this level indicates negative trends. Typically, a break from previous all-time highs or longer periods of stabilization is indicated by a sharp decline in the Unrealized Loss indicator.

The price of Ether returned to the continuous trading range between 0.053 BTC and 0.082 BTC after Ether bulls overcome the barrier at 0.082 Bitcoin BTC tickers down $24,593.

Ether significantly failed previous levels the minimum supply that was in profit increased to 42.1% as opposed to the 20% to 30% reached during previous markets. That implies that ETH holders may experience further hardship in the future. On-chain data, however, indicate strong activity and purchasing, greatly lowering the negative risk.

The difference in the current and previous markets is clearly seen. Ether exchanges were significantly greater than outflows between 2018 and 2020, indicating that holders switched their coins to exchanges in order to sell them. Until now, the price fell during the year 2022, with exchange outflows being significant, indicating that the selling pressure is less severe now.

Withdrawals seem to be likely to occur anytime since the uptrend started in late 2020 and continued to be consistent through the declines of 2022. The network experienced great significance when Ethereum switched from proof-of-work to proof-of-stake in September 2022.

As a result, the network became more stable and reduced inflation. The Ethereum Improvement 1559 proposal, which was put into effect earlier in 2022, introduced the burning of Ethereum fees, which, combined with Merge’s lower supply, made assets deflationary. Since the Merge, the supply of ether has decreased by about 0.015%.

The main causes of institutional investors’ hesitation are clarity and stability issues. Kraken has recently been assessed a $30 million punishment by the US Securities and Institutions could be afraid to utilize disruptive liquid staking platforms like Lido and Rocket Pool since centralized service providers like Kraken and potentially Coinbase aren’t allowed to provide services.

Compared to other chains and centralized exchange fees, these costs are significantly greater. The institutions appear to be in a “wait and see” mindset as they assess the evolution of the crypto space, despite the fact that progress has proceeded across the layer-2 area.