The $1735 level has been strongly resisted, and prices have been declining since then.If the price breaks through the resistance level of $1665, it may be tested again for $1735
The $1735 level has been strongly resisted, and prices have been declining since then.
If the price breaks through the resistance level of $1665, it may be tested again for $1735.
The cryptocurrency market continues to decline today. In recent days, Bitcoin (BTC) has struggled to break through the key price of $28000. On Monday morning, its trading price was approximately $27769, which has fallen by 0.69% in the past 24 hours. Selling pressure has also led to significant losses for most counterfeit coins.
According to on chain data, the Safe multi signature wallet address 0xbC9a9 recently sent 1700ETH to the Ethereum Foundation address, which exchanged these tokens for nearly 2.74 million USDC. Subsequently, 494k USDC was transferred from the multi signature wallet to the Ethereum Foundation.
In addition, according to the latest statistical data, the average transaction cost on the Ethereum network is currently only 7gwei, approximately 0.24 US dollars, due to the consequences of the PoS transition. The average transaction cost of OpenSea in the widely used NFT market is $0.94.
Pessimism spreads
According to CMC data, as of the writing of this article, the trading price of ETH was $1615, a decrease of 0.73% in the past 24 hours. In addition, transaction volume increased by 33.14%. On October 2nd, prices faced strong resistance at the $1735 level and have been declining since then.
If the price breaks through the resistance level of $1665, it may retest the $1735 level. In addition, if it successfully breaks through this level, it will rebound to the $2000 area. On the other hand, if bears continue to dominate and push prices below $1611, it will test the support level of $1569.
The price trend of cryptocurrencies is still influenced by a series of complex factors, including geopolitical tensions, market speculation, and the characteristics of the cryptocurrency market itself.
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])
