Ethereum

While the <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">cryptocurrency sector</a> is starting to show signs of recovery after the recent Consumer Price Index (CPI) data showed that the inflation in the United States had risen less than expected in April, Ethereum (<a href="https://finbold.com/cryptocurrency/ethereum/" rel="noopener noreferrer nofollow">ETH</a>) is no exception, but the danger of correction still exists.As it happens, <a href="https://finbold.com/guide/how-to-buy-ethereum/" rel="noopener noreferrer nofollow">Ethereum</a> has reached an important demand wall at $1,850 – $1,905, which represents a critical <a href="https://finbold.com/guide/support-and-resistance/" rel="noopener noreferrer nofollow">support</a> zone that the <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrency</a> needs to retain in order to avoid declining further, <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">crypto</a> market analyst Ali Martinez observed in a <a href="https://twitter.com/ali_charts/status/1655900952644272129" rel="noopener noreferrer nofollow">tweet</a> shared on May 9.According to the expert:<blockquote>“Ethereum breached a key demand wall at $1,850-$1,905. Failure to regain this critical support zone may trigger a correction, potentially leading ETH to the next significant demand area at $1,570-$1,630.”</blockquote>As demonstrated on the IntoTheBlock graphic shared by Martinez, 2.36 million addresses have bought 8.37 million ETH at the above price range between $1,853.19 and $1,905.72. At the same time, 2.85 million addresses have bought 3.12 million ETH, paying between $1,571.46 and $1,628.76 apiece.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/a2f90f5614c54db8ac39bd8bf35d2863.png" />Addresses that bought Ethereum between $1,572 and $2,130. Source: <a href="https://twitter.com/ali_charts/status/1655900952644272129" rel="noopener noreferrer nofollow">Ali Martinez</a><h2 id="header-0">Ethereum price analysis</h2>In the meantime, the second largest digital asset by market capitalization is changing hands at the price of $1,878.27, recording an increase of 1.97% in the last 24 hours, as well as 0.40% across the previous seven days, and 0.99% on its monthly chart, as per data from May 10.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/57569486af83480a863fe28f9d067e11.png" />Ethereum 7-day price chart. Source: <a href="https://finbold.com/cryptocurrency/ethereum/" rel="noopener noreferrer nofollow">Finbold</a>It is also worth mentioning that Ethereum is one of the three altcoins that <a href="https://finbold.com/guide/cryptocurrency-trading/" rel="noopener noreferrer nofollow">crypto trading</a> expert Michaël van de Poppe <a href="https://finbold.com/time-to-bag-some-altcoins-analyst-reveals-3-coins-to-trade-for-gains/" rel="noopener noreferrer nofollow">recommended</a> to keep an eye out for these days, as he suggested that ETH would remain stable if Bitcoin (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) crashed but decline against BTC in case of the flagship crypto’s volatile move to the upside.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com</a>.

Ethereum breaches key demand wall; What’s next for ETH?

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