Ethereum

<ul> 
 <li><strong>At the time of writing, ETH is trading at $2214, down 1.35% in the last 24 hours.</strong></li> 
 <li><strong>If the price manages to go below $2143 then it will likely test $2080 support level.</strong></li> 
</ul> 
<p>The continuing upswing that started in the middle of October may be the beginning of a protracted bull market, according to crypto industry experts. During this time, stablecoins tend to flood the market. The majority of investors use stablecoins to buy and sell cryptocurrencies on exchanges.</p> 
<p>An examination of DeFiLlama data indicates that, despite the substantial market gain, the total value of stablecoins did not exhibit a discernible rise. Currently, the aggregate market cap of all <a href="https://thenewscrypto.com/frances-societe-generale-launches-euro-pegged-eurcv-stablecoin/" target="_blank" rel="noreferrer noopener">stablecoins</a> in circulation was $129.5 billion, down from $139 billion in December 2022.</p> 
<p>Although the price of Ethereum is currently volatile, the quantity of <a href="https://thenewscrypto.com/sec-postpones-decision-on-multiple-ethereum-etfs-until-may-2024/" target="_blank" rel="noreferrer noopener">Ethereum</a> on exchanges is still decreasing. This may mean that people are holding onto their Ethereum for the long haul. According to on-chain data provider Santiment, a substantial quantity of Ethereum was moved from major exchange wallets to smaller ones or removed entirely from exchanges as its price crossed $2,170.</p> 
<p>A staggering 240,000 ETH was removed from these massive wallets in only one day, resulting in a 2.99% decline in the quantity of ETH available on exchanges.</p> 
<h3 class="wp-block-heading" id="h-bulls-pushing-hard">Bulls Pushing Hard</h3> 
<p>At the time of writing, ETH is trading at $2214, down 1.35% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is 1.57%. After facing severe selling pressure, the price found support at $2127 and initiated a fresh rally.</p> 
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<p>If the price manages to go above $2221 level then it will likely test $2259 resistance level. Conversely, if the price manages to go below $2143 level then it will likely test $2080 support level.</p>

Ethereum Eyes Rebound After Severe Selling Pressure from Bears

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