Ethereum

Bitcoin

April

<ul>
 <li><strong>Amid the bear dominance, the price has declined 5.61% in the last 7 days.</strong></li>
 <li><strong>If the price breaks below the recent low of $1524 then it will likely test $1430 level.</strong></li>
</ul>
<p>Investors have suffered heavy losses as a result of recent crypto market movements. The price of Bitcoin and several other cryptocurrencies has fallen recently due to concerns about geopolitical unpredictability and lackluster US macroeconomic statistics.</p>
<p>IntoTheBlock, a blockchain data research company, says that the <a href="https://thenewscrypto.com/ethereum-dips-below-1530-whats-next-for-eth-investors/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> network has entered a new period of low transaction fees and is once again testing a deflationary outlook for ETH. The research outlines that transaction fees on the Ethereum Blockchain have dropped to their lowest rate since April 2020, down by about 90% from their all-time high in May of this year.</p>
<p>The Layer 2 solutions created to expand and improve the scalability of Ethereum are also highlighted in the research for their role in lowering transaction costs. As a result of this advancement, users of Ethereum may now conduct transactions at reduced rates.</p>
<h3 class="wp-block-heading" id="h-struggle-continues">Struggle Continues</h3>
<p>At the time of writing, ETH is trading at $1547, down 0.03% in the last 24 hours as per data from CMC. Moreover, the trading volume is down 16.14%. Amid the bear dominance, the price has declined 5.61% in the last 7 days. The <a href="https://thenewscrypto.com/bitcoin-price-continues-to-struggle-as-bearish-sentiment-looms/" target="_blank" rel="noopener noreferrer nofollow">crypto</a> market as a whole has been facing severe selling pressure.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="660" height="356" src="https://thenewscrypto.com/wp-content/uploads/2023/10/ETH_1M_graph_coinmarketcap.png" alt="" class="wp-image-83875" srcset="https://thenewscrypto.com/wp-content/uploads/2023/10/ETH_1M_graph_coinmarketcap.png 660w, https://thenewscrypto.com/wp-content/uploads/2023/10/ETH_1M_graph_coinmarketcap-300x162.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/10/ETH_1M_graph_coinmarketcap-150x81.png 150w" sizes="(max-width: 660px) 100vw, 660px">
  <figcaption class="wp-element-caption">
   Source: <a href="http://CoinMarketCap.com" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>
  </figcaption>
 </figure>
</div>
<p>If the price breaks below the recent low of $1524 then further decline all the way till $1430 is on the cards. Breaking this support level will likely result in price testing $1145 support area. On the other hand, if the bulls could drive the prices above $1590 level, then a short-term rally all the way till $1650 resistance area is likely.</p>

Ethereum Price Fails to Overturn Bearish Dominance; What’s Next?

Table of Contents

TheNewsCrypto

Other articles published on Oct 14, 2023

Due to fraud and “questionable” blockchains, Alameda Research lost $190 million: whistleblower

Top Mobile Social Casino Apps for Sweepstakes Casino

Envoy of Death – A Disappointing Blend of Roguelike and Arena Shooter

ProShares Prepares to Launch Unique Investment Product for Ethereum (ETH)

Chinese Bitcoin Mines in the US Attract National Security Attention

3 Crypto Murah Meriah Pekan Ini

Join our free newsletter for daily crypto updates!