Ether (ETH) price fell 18% to $2,826 between July 1 and 8 but has partially recovered. Investors were disappointed, especially when $313 million of long positions were liquidated during the period. The current price of $3,100 is still below the previous support of $3,400, but Ether traders are gradually regaining confidence. 📈
Even if the Ethereum ETF launch takes longer than expected, strong fundamentals point to the possibility of a price recovery soon. So what do you think? Please leave your opinion below in the comments section! 👇
40% of Ether supply is locked, including staking and DApps, while exchange supply has decreased over the past month. Data from Glassnode shows that deposits on the exchange decreased from 13.34 million ETH to 12.21 million ETH.
Investors looking for lower fees have benefited from Ethereum's layer-2 solution, which has seen a significant growth in activity over the past month.
Both derivatives and onchain indices support bullish momentum, while a decrease in the amount of ETH available for trading on fiat exchanges also supports a possible short-term upside above the $3,400 resistance level.#cryptocurrency#Ethereum #ETH