HomeUncategorizedEther death cross threatens more downside as ETH price trades at a key support level By Cointelegraph

Ether death cross threatens more downside as ETH price trades at a key support level By Cointelegraph

July 26, 2023

[ad_1]


© Reuters

Ether’s price fell this week, and several data points are beginning to suggest that further downside could be in store.

On July 24, Ether (ETH) experienced a drop close to its monthly low, reaching $1,825 amid Bitcoin’s (BTC) negative price action, as uncertainty loomed over macroeconomic conditions and a potential whale sell-off.

Ethereum NVT signal. Source: Glassnode
Ether’s net unrealized profit/loss metric for short-term holders. Source: Glassnode
Ether’s NUPL metric for long-term holders. Source: Glassnode
weekly price chart. Source: TradingView
ETH/USD daily charts. Source: TradingView