- Ethereum’s liquidation level increased once its price reached the $2,170 mark.
- Its exchange reserve was increasing, but the derivatives metrics looked bullish.
Ethereum’s [ETH] price has once again gained bullish momentum as its price registered an increase in the last 24 hours.
However, a short while ago, the token fell into a critical demand zone. When ETH dropped to that level, did investors choose to sell their holdings, or were they confident in ETH and expected a price hike?
Ethereum reaches a critical demand zone
Ali, a popular crypto analyst, posted a tweet on 13th December highlighting an interesting development.
As per the tweet, ETH has dipped into a crucial demand zone, ranging from $1,934 to $2,160. In that range, over 5.58 million addresses were holding nearly 40 million Ethereum.
#Ethereum has dipped into a crucial demand zone, ranging from $1,934 to $2,160. Here, over 5.58 million addresses are holding nearly 40 million $ETH.
From an on-chain perspective, this is #ETH‘s most critical support level. For traders, this could be the ideal reloading point to… pic.twitter.com/Qh1P8lQMhk
Go to Source to See Full Article
Author: Dipayan MitraDid you like this?
Tip BTC Newswire with CryptocurrencyDonate Bitcoin to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some bitcoin:Donate Bitcoin Cash to BTC Newswire
Scan the QR code or copy the address below into your wallet to send bitcoin:Donate Ethereum to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some Ether:Donate Litecoin to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some Litecoin:Donate Monero to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some Monero:Donate ZCash to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some ZCash:
