Despite a Saturday party as a nightmare, Ethereum however, it maintains the fundamental support, technically and psychologically, of the 3.000$, with a rebound that bodes well not only for the weekend, but also in the future.
All this within a sales program which has affected the whole sector, without distinction, and which has pushed fear to the maximum. No internal problems for $ ETH therefore, that instead of the sell off of Ethereum it shows itself in a splendid state of form.
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No problem for Ethereum, while the competition is struggling
Who will have opened, without cross-referencing the market trend, the prices of Ethereum he might think of an intrinsic difficulty of the project, having reached only a few weeks ago a all-time high close to 5.000$. Difficulties that in reality do not exist, because the themes of the advance of $ ETH they always remain the same and because we are actually facing a return of the dominance from $ ETH in its reference space.
Our readers will already be able to locate Ethereum as a reference space in the world of blockchain, of the sector Dapps. A sector that includes practically any type of application of the decentralized finance and for some time also of gaming su blockchain and in equal measure also of the world metaverse.
A sector that today sees many contenders, some of which in clear difficulty today, like Solana which continues to have some technical problems. Technical problems that absolutely cannot arise with this frequency if the protocol aims to supplant ETH in its reference space. With Ethereum which, according to the founder Vitalik Buterin, it would even be only al 50% of its potential development. Something that signals the presence of great expectations also in the long-term future of the project.
Fear at most that could signal the bottom of the price
When it comes to bottom we talk about minimum price that is reached during a descending market phase. Although no one has the crystal ball in such complex moments for the market, where the feeling bearish continues to sow terror, it is precisely from this terror that we can start again.
The index of fear is at historic lows, scoring 10, the lowest score seen in the last year (except for one occasion we saw 9). Index of fear that was a rather effective signal, at least in the past, of the so-called bottom.
Throw yourself into the market with your eyes closed? You always have to make your own evaluations, but it shouldn’t – this phenomenon – a recovery towards longer price levels is long delayed congruous for the whole sector, including Bitcoin.
The liquidations on Ethereum in the last 24 hours they have been the highest, in terms of quantity, of the sector, even exceeding (and it is a very rare thing) the values seen on Bitcoin. Another very good sign – indicating that the flush there has been and there may be room to restart effectively. Starting again towards i price levels that we have indicated in ours Ethereum forecasts.
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