Hello everyone, this is Xiaoluo. Today we will talk about Ethereum (ETH)
Hello everyone, this is Xiaoluo. Today we will talk about Ethereum (ETH).
Taking advantage of the sharp decline in counterfeit coins, is it time to start using ETH? This question may sound a bit comical, but let's take a look at it from another perspective.
The sharp decline of counterfeit coins is like an alarm bell, reminding us. However, should we take advantage of Ethereum (ETH), a digital currency with unlimited potential, when it is "low"?
Let's first learn about Ethereum. As a new type of digital currency, Ethereum has many unique characteristics. Firstly, it has the function of smart contracts, making it an important trading platform with broad application prospects. Secondly, it has the characteristic of decentralization, which is conducive to protecting the privacy and rights of users.
Overall, although Ethereum (ETH) is currently at a low level, it does not mean that it is the best time to buy. What exactly is that? Let's continue to look!
As the cryptocurrency market enters a new round of liquidity and a new rebound, Ethereum (ETH) seems to be supporting a decline from $1800. Since the rebound in October, the cryptocurrency market has experienced a significant decline for the first time. Bitcoin has also been affected, dropping 2.2% from resistance of $35000 to $33977.
At the same time, Ethereum (ETH) also failed to escape the fate of a decline, as it encountered resistance and fell below the support/resistance of 1800, dropping 1.3% on the same day to 1773.
As counterfeit currency suffered a heavy blow, its total market value also decreased by 2.1%, reaching 1.29 trillion yuan. Among them, Solana dropped 6.4% to 31, Chainlink dropped 5.2% to 10.53, and Bitcoin Cash's market value fell 5.1% to 243 within 24 hours.
Latest news from Ethereum (ETH):
From the above figure, it can be seen that Ethereum (ETH) has increased by -0.36% in 24 hours, with a 24-hour trading volume of 3.0236 million and a 24-hour trading volume of 38.606 billion.
Is the downward trend of Ethereum (ETH) profitable?
Firstly, it should be clarified that the downward trend of Ethereum (ETH) does not necessarily mean profitability.
From a technical perspective, the downward trend of Ethereum (ETH) may continue for some time. Ethereum (ETH) has been in a downward trend in the past few months, which may be related to factors such as overall market sentiment, the rise of competing currencies, and the expansion of Ethereum (ETH). If the market continues to maintain negative sentiment, or if Ethereum fails to effectively address the expansion issue, Ethereum (ETH) may continue to decline.
The significant downward trend in the coin market this week has made many prophets and participants nervous, but optimistic prophets such as RektCapital believe that this may be a good opportunity to fully participate in the portfolio, especially counterfeit coins.
Shanzhai coin Sherpa also expressed a similar view, believing that one should "be aware of the beginning of a truly strong rebound." He believes that Shanzhai coins may adjust by 10-20%, but he also adds that this situation is "still possible and effective.
Alright, that's all for this episode. See you next time!
In the encryption industry, if you want to seize the next bull market opportunity, you need to have a high-quality circle so that everyone can warm up and maintain insight. If you are alone, looking around in a daze, and realizing that there is no one, it is actually difficult to persist in this industry. Thank you for watching~
Disclaimer: The content of this article is sourced from the internet. The copyright of the text, images, and other materials belongs to the original author. The platform reprints the materials for the purpose of conveying more information. The content of the article is for reference and learning only, and should not be used for commercial purposes. If it infringes on your legitimate rights and interests, please contact us promptly and we will handle it as soon as possible! We respect copyright and are committed to protecting it. Thank you for sharing.(Email:[email protected])
