Ethereum regains decisive support at $ 1,574 .. What is the next price goal?

In light of the digital market attempts to recover from the recent relegation wave, Etharium returned to the interest of investors again, after a narrow fluctuation area penetrated between 1,548 and $ 1,599, achieving gains exceeding 4% during the past 24 hours, and despite the slight decline in the last hours, the signs of rising momentum are still existing, which opens the door to the possibilities of this positive trend.

Analysts are awaiting resistance at $ 1,810

According to the well -known analyst “Ali Martinez”, Etharium has regained a vital support zone between 1,547 and 1,595 dollars, a region that saw a great accumulation of the currency where about 5.48 million Ethereum were purchased by 2.83 million titles with an average price of 1,574 dollars, and this data published by the “InTothheblock” analysis platform reflects the volume of liquidity and trading at this level, which supports The possibility of continuing to climb if the currency maintains its location over this range.

At the time of writing this report, Ethereum is trading at the level of $ 1,642, which reflects relatively stability after the penetration, and if the rise continues, the next decisive resistance is between 1,791 and 1,839 dollars, where about 1.61 million currencies were purchased by 3.2 million titles with an average of 1,810 dollars ..

This area appears in red in the graphic maps due to the fact that the majority of the currency holders are still “underwater”, which means the possibility of selling as soon as the price approaches this level to recover their losses, which may constitute a psychological and technical barrier in front of the continued rise.

The broader picture of the market

The “InTotheblock” data indicates that about 56.7% of Ethereum addresses are currently “in profit”, meaning that about 8.3 million currencies kept above the purchase price, at an estimated value of $ 13.24 billion.

On the other hand, approximately 41.99% of the holdings, or about 6.14 million coins, are still “losing”, which reflects a state of caution in the market mood despite the refusal indicators.

It is worth noting that a small number of currencies is about 191,830 Ethereum only falls within the category “at a tie”, meaning that the current market price is close to the purchase price, which indicates a lack of the opposite momentum at this price range, which may allow the price movement more freedom to move more dynamic.

The risks are still in place

Despite the recent improvement, the decrease in the daily trading volume of 13.08%cannot be ignored, which may indicate a weakness in the public interest in the market, an element that may negatively affect the continuity of the rising trend.

In addition, Ethereum still records a weekly decrease by 8.5%, indicating that the way for it to return to the previous peak areas is still full of obstacles.