Ethereum

Momentum

<ul> 
 <li><strong>From its low of $1550 on September 12th, ETH has risen briefly.</strong></li> 
 <li><strong>If the price rises above the $1657 resistance level then it will likely rally further.</strong></li> 
</ul> 
<p>The recent attempt to establish the Ethereum Holesky test network was unsuccessful because of a parameter mismatch. The network is still scheduled for a formal debut soon and will become Ethereum’s biggest test network, with 1.46M validator nodes, twice as large as the primary network.</p> 
<p>The release of Holesky marks a major stride forward for Ethereum in the shift to ETH 2.0, moving user’s one step closer to a blockchain that is both more scalable and safe.</p> 
<p>Santiment, an on-chain analytics provider, surprised everyone on September 14, with new information. The twitter post stated that the second-highest daily total of unique addresses transacting on the network had been attained, according to the tracker.</p> 
<p>On September 14, a massive 1,089,893 distinct wallets sent or received <a href="https://thenewscrypto.com/ethereum-eth-price-prediction">ETH</a> on the Ethereum network, the second biggest figure in the asset’s over 8 year of existence. As a result of this unprecedented occurrence, prices may now be ready to recover.</p> 
<h3 class="wp-block-heading" id="h-transaction-volume-declines">Transaction Volume Declines</h3> 
<p>From its low of $1550 on September 12th, ETH has risen briefly indicating a change in momentum. At the time of writing, the price of ETH is $1635 and is up 0.56% in the last 24 hours as per data from CMC. The volume is down 8.26% indicating that investors and traders are staying away for the time being, waiting for a clear indication.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
  <img decoding="async" width="661" height="356" src="https://thenewscrypto.com/wp-content/uploads/2023/09/ETH_1M_graph_coinmarketcap-2.png" alt="" class="wp-image-82432" srcset="https://thenewscrypto.com/wp-content/uploads/2023/09/ETH_1M_graph_coinmarketcap-2.png 661w, https://thenewscrypto.com/wp-content/uploads/2023/09/ETH_1M_graph_coinmarketcap-2-300x162.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/09/ETH_1M_graph_coinmarketcap-2-150x81.png 150w" sizes="(max-width: 661px) 100vw, 661px">
  <figcaption class="wp-element-caption">
   Source: <a href="http://CoinMarketCap.com" target="_blank" rel="nofollow">CoinMarketCap</a>
  </figcaption>
 </figure>
</div> 
<p>If the price rises above the $1657 resistance level then it will likely rally all the way till $1737. On the other hand, if the <a href="https://thenewscrypto.com/ethereum-price-sees-concise-surge-as-crypto-market-rebounds/">ETH</a> price falls below $1542 then a fresh decline is on the cards. It will then likely test the $1434 support level.</p>

Ethereum Price Striving Hard To Overturn Bearish Momentum

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TheNewsCrypto

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