The US SEC is reportedly looking into the affairs of Ethereum Foundation. The price of ETH remained relatively unfazed despite the regulatory development.
The price of ETH has tested the resistance of $3555 multiple times in the last few days. If the price of ETH regains momentum and tests the $3555 resistance yet again, it may be able to break past this level in the future and reach for the $4,000 level going forward.
However, looking at the larger trend seen over the last few weeks, the price of ETH exhibited multiple lower lows and lower highs and the recent surge in price has not been significant enough for a trend reversal.
If the price continues on its downward trajectory, it could see itself going all the way down to $3.137 support level. The price movement of ETH in the next few days will be pivotal for traders as it will dictate the larger trend that ETH will be following shortly.
Pinagmulan: Pangangalakal sa Pagbebenta
Magkano ang halaga ng 1,10,100 ETH ngayon?
Moreover, ETH witnessed a massive uptick in its network growth. This suggested that new addresses were showing interest in ETH. The uptick in interest from new addresses could add more wind in the sails for ETHs bullish momentum.
Additionally, the velocity of ETH also grew, indicating a higher frequency of ETH transfers.
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