Analysis as of August 1, 2022

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Let’s talk today Ethereum and the support of $ 1,700, which is one of the most analyzed stocks of the asset in recent months. A level that, according to many experts, can also be defined as psychological, although the token has exceeded it several times in recent years.

Reduce severe market imbalances and aggregate reductions cryptocurrency sector, the evolution of wealth must be viewed with caution. In fact, we recall that the month of July 2022, which ended with the arrival of August so far, was one of the most volatile of all.

For example, it is possible to cite asset valuations very closely Threshold of $ 1,000 per unit for the first few weeks, then recover and exceed $ 1,700 per ETH on the last day of the month (yesterday), July 31, 2022.

What they were short and very short term changes? What do we expect from ETH? There are many problems to be explored and before addressing them we remind you that you can always find the token on professional and world-famous exchanges, like eToro.

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Ethereum and support at $ 1,700: here are the latest trends

Back to Ethereum and the support of $ 1,700it is good to pay attention to the latest declinations of the cryptocurrency which, as we recall, for years has continued to occupy the second place in the general ranking by market capitalization.

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More details later it broke the support of $ 1,670 per unit, the token continued its run and reached a pride level of $ 1,700. The new Trusts even allowed for more than $ 1,740 momentum yesterday, July 31, 2022, only to undergo subsequent corrections.

Fixed the problem that therefore did not allow the good to reach the singular while maintaining the safety distance $ 1,800 worth of stock, which experts have been waiting for for several weeks. A target that, given the corrections started in the early hours of this August 1, 2022, has now disappeared at the current rate of around 1,684 dollars.

A value that shows CoinGecko’s caliber a according to leading cryptocurrency industry news sites Progression after 7 days of approximately + 5.2% and a negative movement (from yesterday’s highs) to -1.2% in the 24 hours.

Here is further relevant data on the cryptocurrency Ethereum (ETH) at the time of writing:

  • market capitalization of $ 202,071,259,646;
  • Trading volume in a 24 hour interval of $ 13,208,311,412;
  • Volume / market capitalization ratio of 0.0654;
  • It dominates the overall cryptocurrency market at number two (followed only by bitcoin) at 17.918%.

Final comments

Much of the data presented above can be determined entirely independently of the services provided The best online trading brokers. They also offer convenient real-time charts that allow you to see instant changes in asset value as well as market cap size.

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