Ethereum [ETH] investors, watch out for this level to look for recovery

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice As macro-economic uncertainties fueled market-wide corrections, the crypto-market's capitalization plunged below $900 billion. Over the week, Ethereum ETH broke down into high volatility after losing its $1,700-support.

Timeline of Ethereum

Ethereum risks dropping further after breaking below the $1K price point in a 2018-like bearish cycle so let's read more today in our latest Ethereum news. Ethereum risks dropping further after the latest crash below $1,000 with the ongoing sell-off on the market bringing a lot more pain for cryptocurrencies.

June's second week-sell off plunged the ETH/USDT pair to a low of $896.1. However, the high demand pressure prevented a daily candle from closing below the $1000 support, resulting in long-tail rejection.

Investors and traders in the cryptocurrency market thought that there could be nothing worse than the Terra crash of 9 May. Little did they know that the month of June had something much worse in store.

After ten weeks of red, the bears were able to push the price below $1,000 yesterday. They managed to advance below $900, but the market saw a quick recovery and reclaimed on top of the covered $1K mark.

Ethereum (ETH) has fallen below $1,000 for the first time in more than a year as the broader crypto market continues to slide south with no quick remedy in sight, or at least not yet. Ether (ETH) was one of the cryptocurrencies that performed particularly poorly, falling 7.32 percent over the past day to follow Bitcoin's loss.

Ethereum (CRYPTO: ETH) was diving over 13% on Saturday, in sympathy with Bitcoin (CRYPTO: BTC), which was plummeting over 10% lower.  Price action in the crypto market has been predictive of the price action in the general markets recently, and traders and investors of stocks will likely be watching Bitcoin and Ethereum this weekend as they tank.

Ethereum's Immutable X launched a $500 million fund that will be used for games and NFT developers in a form of grants and investments in IMX tokens and cash, so they can continue building on the scaling solution let's read more today in our latest Ethereum news. Ethereum's Immutable X is used by companies like

Ethereum price analysis is bearish today as we have seen consolidation and another spike lower to the $1,000 mark. Therefore, we expect ETH/USD to push even lower, opening the way for a lot more downside to be reached by the end of the month.

  The coin market has been sailing through treacherous conditions and torrential woes. While most cryptocurrencies have faced the wrath of turbulence. Stablecoins seem to have performed better and are proving to be an ideal choice during market calamities. However, not everything is fine with this category either.  Marketers, hoping for a quick rebound, are wishful of …

Market intelligence firm Glassnode says one particular niche within the decentralized finance (DeFi) sector remains robust despite crypto market woes. In a new analysis, Glassnode says capital has been pouring into stablecoins while many Ethereum (ETH) holders are currently underwater. “The aggregate capitalization of the top four stablecoins (USDT, USDC, BUSD and DAI) have also The post Glassnode Says One Crypto Asset Class Is Gaining Massive Popularity Amid Huge Ethereum (ETH) Unrealized Losses appeared first on The Daily Hodl.