On the Back of Good News, ETH Price Is up 35.5% Year-To-Date

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ETH/USD is up 35.5% year to date, which is good news for Ethereum. The bad news about Ethereum’s bullishness cannot be dismissed, yet they were unable to stop the 35.5% increase. The number of sell orders using futures contracts, on the other hand, has been steadily declining.

A testing environment for the Shanghai network update by Ethereum developers was recently created to assess staking withdrawals. As of right now, ETH worth more than $23 billion has been deposited into the Ethereum staking contract effort to assess staking withdrawals. ETHUSD may soon turn bullish due to the good news that is currently circulating in the Ethereum ecosystem.

Key Ethereum Levels To Watch – January 24

According to the Moving Average Convergence Divergence (MACD), the market’s current direction is upward. However, the market’s order flow has been proven bearish over time as it declines in fractals.
Ethereum developers was recently created in an effort to assess staking withdrawals. The market’s order flow will remain bearish until the IntermediateTerm High (ITH) at 1790.00 is successfully broken. The market recently surged upward to balance the inefficiency formed by the Fair Value Gap (FVG) and execute the sell orders in the bearish order block.

Ethereum Key Levels

Resistance Levels: $2031.00, $1790.00, $1677.00
Support Levels: $1071.00, $880.00, $715.00

Total Market Capitalization: $1.02T
Ethereum Market Capitalization: $188.57B
Ethereum Volume: $9.08B
Market Rank: #2

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.