Ethereum Corrects Below $ 1,500: Analysis July 21, 2022

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Ethereum corrects below $ 1,500 in the early hours of this July 21st, after literally stunned the markets yesterday with a major rally that was extensively explored in our latest news.

Ethereum management This is truly surprising, even more so when you consider the great changes that the ecosystem is facing, one of which is the delicate (but fundamental) transition from proof of work to proof of stake.

This Number of validators Interest in the participation (which we recall must have 32 ETH) also continued to grow during this second quarter of the year. Furthermore, the eyes of the experts are all on short and very short term trends.

What happened in the early hours of that day? What were the changes after yesterday’s bull run? Aspects that we will talk about shortly, not without reminding you that you can always find Ethereum (available for trading) from professional brokers of the caliber of eToro.

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Ethereum Corrects Below $ 1,500: Short to Medium Term Changes

In the last hours of yesterday’s session Ethereum has attempted a new rally above the $ 1,600 resistance line. After being catapulted overhead, but only for a few minutes, he showed a subsequent correction at much lower odds.

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The result was first a drop below $ 1,560 per share, then the Break down the psychological $ 1,550 (Threshold widely followed by experts and analysts in recent weeks).

This Price of the ether It then resumed its downtrend and broke the support at $ 1,520. This highlighted a shift in market demand that was largely driven by more negative sentiment than on July 20.

After dropping below $ 1,475 (even if only for a few minutes), the cryptocurrency’s trading price is currently around $ 1,513. According to the data of the most important stock exchanges in the world, this shows a fluctuation in the 24 hours of about -3.9%.

At the time of this publication, the level of capitalization In total, the ETH token is priced at $ 181,106,353,994. Ethereum thus claims the second position in the global market capitalization ranking with a market dominance of 16.782%.

This subsequent thresholds According to experts, the $ 1,500 (assuming a negative decline in wealth) and $ 1,550 (assuming a decrease in wealth recovery) must be kept in check. The actions were fully featured this month.

Final comments

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