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Ethereum energy usage has drastically decreased with the completion of the merge upgrade. In contrast to other coins except for stablecoins, Ethereum now serves as both a low-energy consumption coin and a haven, particularly during times of market turbulence.
Key Ethereum Levels To Watch – December 19
A Blockchain investigator named Peckshield revealed today on Twitter that 22982 ETH was moved from two inactive addresses to other accounts. It was known that these accounts had not been used since October 2018. Genesis and Poloniex were the trading platforms used for these transactions, according to Peckshield. with Poloniex sending 9,878 ETH and Genesis sending 13,103.99 ETH.
Whilst the bears keep hovering about in the market with the bearish marubozu candlesticks, the 1071.10 price level has proven significant to resist the selling pressure till now. The retest of the 2015.50 resistance has so far driven the price into an oversold region, as indicated by the Stochastic indicator.
With the market’s order flow still bearish, the bullish order block just above the 1071.10 price level might only retrace the price into the premium. This projection is also in line with the Oscillator’s oversold signal.
Binance Coin Key Levels
Resistance Levels: $3581.60, $3068.60, $2015.50
Support Levels: $1071.10, $879.80, $715.00
Total Market Capitalization: $797.56B
Ethereum Market Capitalization: $143.36B
Ethereum Volume: $4.50B
Market Rank: #2
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