Key On-Chain Indicator Signals Bottom Is In; Ethereum Core Devs Endorse EIP-4844

Key On-Chain Indicator Signals Bottom Is In; Ethereum Core Devs Endorse EIP-4844


The downfall of FTX has also left its mark on the Ethereum (ETH) price. Over the last 30 days, Ether has recorded a drop of around 20%. At press time, the price was at $1,171, just above the crucial support level of $1,100.

In the short term, the ETH price has found support at $1,171. However, if the key resistance at $1,230 is not breached in the next few days, a retest of the level at $1,100 could be on the cards.

Ethereum price, 1-hour-chart. Source: TradingView

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An important on-chain indicator for Bitcoin indicates that this does not have to be the case. Since the crypto market is heavily dependent on Bitcoin as the largest cryptocurrency by market cap, a bottoming of BTC, could also mean

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