By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
CryptoXTimesCryptoXTimes
  • Home
  • News
    • Crypto
    • Bitcoin News
    • Ethereum News
    • Altcoin News
    • Shiba Inu News
    • Ripple News
    • Analysis
    • iGaming News
  • Cryptocurrency
    • Price Prediction
    • Learn
    • Reviews
  • Advertise
    • Press Release
  • Contact Us
Notification Show More
Font ResizerAa
CryptoXTimesCryptoXTimes
Font ResizerAa
  • Home
  • News
  • Cryptocurrency
  • Advertise
  • Contact Us
Search
  • Home
  • News
    • Crypto
    • Bitcoin News
    • Ethereum News
    • Altcoin News
    • Shiba Inu News
    • Ripple News
    • Analysis
    • iGaming News
  • Cryptocurrency
    • Price Prediction
    • Learn
    • Reviews
  • Advertise
    • Press Release
  • Contact Us
Have an existing account? Sign In
Follow US
© 2024 CryptoXtimes. All Rights Reserved.
CryptoXTimes > Article > News > Ethereum Falls Under $3,000 Amid Pressure
NewsCrypto

Ethereum Falls Under $3,000 Amid Pressure

Ethereum nears critical $3,000 support amid significant bearish pressure.

Nayab Fatima
Last updated: August 3, 2024 11:26 pm
Nayab Fatima 11 months ago
Share
Ethereum Whale Moves $9.12M To Kraken

Ethereum’s price has been under a lot of downward pressure lately, and it has kept going down over the past week even though spot ETH ETFs were released. On-chain data shows that the altcoin is getting close to a key level, which makes people wonder about its future.

IntoTheBlock, a market intelligence tool, said on social media that Ethereum is getting close to $3,000, which has been a key support level in the past. Based on what many ETH investors think the usual cost basis is, this is what we think.

Ethereum Token Spread Data

The token spread around Ethereum’s current price is shown by data from IntoTheBlock. The number of tokens bought within each price range is shown by the size of the dots on the picture. This shows how important and strong each level is. 

As ETH gets closer to the $2,913–$3,000 range, more people are buying it, which shows how important it is. Over 1.7 million addresses bought ETH for just under $3,000. This made a key support zone.

IntoTheBlock said that buyers will likely buy more tokens to protect this level if the price drops to around $3,000. New buyers might also be interested in this level because they see it as a turning point in the past. The price of Ethereum could fall to $2,800 or even $2,600 if it can’t hold above $3,000. This is because support is weaker at those levels.

Ethereum is selling at around $2,988 right now, which is a drop of almost 7% in the last 24 hours. CoinGecko says the price of cryptocurrencies has dropped 9% in the last week, which shows how bad things have been for them.

You Might Also Like

Deutsche Bank Considers Issuing Stablecoin Amid Digital Shift

PEPE Memecoin Surges 8.5% After Trump’s Cryptic Post Sparks Frenzy

Telegram Integrates Elon Musk’s Grok AI in $300M Deal

Berachain Transactions Tumble, Fee Revenues Cut In Half

Trump Media Launches $2.5B Crypto Investment Strategy

TAGGED: Crypto, ETF, ETH, Ethereum
Previous Article XRP Price Could Skyrocket Despite Recent Drop XRP Price Could Skyrocket Despite Recent Drop
Next Article Stacks Faces 23% Drop, Potential Recovery Ahead Stacks Faces 23% Drop, Potential Recovery Ahead
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow US

Find US on Socials
TwitterFollow
TelegramFollow
LinkedInFollow

Subscribe to our newslettern

Get Newest Articles Instantly!

Popular News
Bitcoin Could Hit $120K If Fed Cuts Rates Soon
Bitcoin Could Hit $120K If Fed Cuts Rates Soon
Iceland PM Shifts Energy from Bitcoin to Agriculture
Iceland PM Shifts Energy from Bitcoin to Agriculture
RippleX Halts AMM Pool Deposits Due to XRP Ledger Glitch
RippleX Halts AMM Pool Deposits Due to XRP Ledger Glitch

You Might Also Like

$BONK Surges 4% as Breakout Above $0.000021 Nears
CryptoNews

$BONK Surges 4% as Breakout Above $0.000021 Nears

By Haider Ali 4 weeks ago
XRP Gathers Momentum Amid Whale Accumulation and ETF Buzz
Altcoin NewsNews

XRP Gathers Momentum Amid Whale Accumulation and ETF Buzz

By Muhammad Ali 2 months ago
MOVE Token Drops 20% After Coinbase Announces May 15 Trading Suspension
CryptoNews

MOVE Token Drops 20% After Coinbase Announces May 15 Trading Suspension

By Haider Ali 2 months ago
XRP Eyes Potential 15% Gains Amid Regulatory And Market Developments
NewsCrypto

XRP Eyes Potential 15% Gains Amid Regulatory And Market Developments

By Nayab Fatima 5 months ago
CryptoXTimesCryptoXTimes
Follow US
© 2024 CryptoXtimes. All Rights Reserved.
  • About Us
  • Careers
  • Privacy Policy
  • Risk Disclaimer
Welcome Back!

Sign in to your account

Lost your password?