The world’s second-largest cryptocurrency Ethereum (ETH) has come under severe pressure recently. On Wednesday, July 14, the ETH price dropped under its crucial support of $2000. At press time, ETH is trading at 1.71% down at a price of $1927.
We can’t say whether if the downside is limited from here, however, $1800 remains a key level to watch for at the downside. On-chain data provider Santiment reports: “For now, as long as the $1800s hold, we’ve got a chance to make it back towards the $2200s to test the resistance trendline”.
Ethereum dropped 16% after breaking the rising wedge last week. It has once again bounced back a bit from this week’s bottom and is trying hard not to fall to its previous support levels of $1700.
Courtesy: Santiment
On-chain Metrics for Ethereum
One of the concerning things for ETH investors is that its network growth is on a downtrend. Although there are a few occasional spikes, they aren’t sustaining for long. To establish a stronger bull cas
Źródło: https://coingape.com/ethereum-eth-is-safe-until-it-sustains-this-level/
