Ethereum and aggregate crypto markets have been caught in a strong downtrend since early November, and face ETH and other cryptocurrencies as a result of the decrease in trading volume, a continuous side trading period that investors and traders have been the same for
This lack of volatility has particularly affected Ethereum, which is currently seeing the lowest volatility level of 60 days seen since 2016. Which may indicate that a massive movement is imminent.
Ethereum enters the adjusted trading range as the volume Dives
At the time of writing, Ethereum is trading just below 1% at its current price of $144.55. Indicating a slight drop from its daily high of more than $146.
Since last week, ETH has been in the middle of the $140 zone. Finding strong support at around $140 and strong resistance at $150.
This trading range has expanded significantly in recent times, as ETH has stagnated for around $142 and $145 in recent days, and currently shows some signs of significant changes in the impending trends in the short term.
Pavement trade occurred simultaneously with Ethereum’s largest decline in total volatility of 60 days, currently at a minimum of several years.
The research firm Blockchain Coinmetrics spoke about this in a recent tweet. Stating that it could mean that a large price movement is imminent.
It is very likely that any nearby ETH movement remains somewhat dependent on Bitcoin. Since BTC has been an important guiding force in the main alternative currencies in recent times.
Will the fundamental force help ETH to rise?
Although it is unclear whether there will be a large-scale movement due to Ethereum’s low volatility. The growing fundamental force can ultimately help high cryptocurrencies.
Joseph Lubin, co-founder of Ethereum and founder of ConsenSys, spoke about Ethereum’s strengths in a recent tweet. Noting the DeFi initiative currently closed with large amounts of ETH, as the blockchain remains fundamentally strong.
When considering the basics of low volatility and the rise of Ethereum, there seems to be an upward trend around the corner.