- The Ethereum coin price is still down by 48.8% from the all-time high.
- There has been no significant activity in the trading volume of the ETH crypto in the last 24 hours.
Ethereum is a decentralized blockchain platform enabling smart contracts and dApps. Ether (ETH) powers transactions and serves as a store of value. Ethereum’s applications include DeFi, NFTs, and DAOs, with thousands of tokens representing diverse assets and utilities.
Followed by a decline of 3.07% in the derivatives trading volume of the crypto, the spot volume has also witnessed a drop of 3.84%. The market cap of the coin has further declined by 1.4% in the last 24 hours.
The crypto’s volume/market cap ratio is 2.3%, followed by a traded volume of $6.961B in the last 24 hours. Also, the market cap of Ethereum is 299.932B, making it the second-largest cryptocurrency in the world.
The supply inflation of the coin is relatively low, resulting in -1.80%, and the crypto market cap dominance is 16.59%. Also, the volatility of the crypto is medium, resulting in 4.78%. This cryptocurrency’s fear and greed index is at 70, indicating greed.
The open interest for the Ethereum coin is trading flat, representing no change in the last 24 hours. Despite this, the options volume of the crypto has declined by 51.55%, resulting in $320.63M.
Ethereum is showing dominance of sellers over the last 24 hours, as per Coinglass, as it has witnessed a long liquidation of $8.91M. Moreover, the short liquidation for the crypto is $2.24M. Also, the open interest of the crypto is $3.68B for the options, as per Coinglass.
Ethereum Blockchain Data Overview
The coin’s circulating supply is 120.169M ETH, followed by the same amount of total supply, while the max supply of the crypto is infinite. Moreover, the fully diluted market cap of the crypto is $300.0B.
The Total locked value of the coin is $39.286B, followed by a stablecoin market cap of $70.847B. Moreover, the inflows recorded for the crypto is worth $2.88M in the last 24 hours. The treasury of the crypto is worth $774.65M, and the generated fees in the previous 24 hours are $20.03M, as per DefiLlama.
ETH Crypto Technical Analysis
Following a similar structure to the BTC, the Ethereum coin is also forming a higher high swing structure on the weekly charts. The price of the crypto has also hit a crucial resistance level and the most recent swing high.
If the trading price of the ETH further breaks above the last swing high, we might witness further higher levels of $3500 as there relies on the next crucial swing high for the crypto.
ETH/USD Chart by TradingView
The EMAs show optimism among the traders for the ETH crypto as the price is trading above the crucial EMAs. Also, the crucial EMAs, like the 50-day and the 200-day EMAs, are trading in a golden cross and are advancing to higher levels.
The MACD shows strong bullishness on the daily chart as the signal line is below the MACD line. Also, both the lines have crossed above the zero level. The histograms are also constantly advancing, indicating advancing momentum.
The RSI on the daily chart is following a bullish cycle and is sustaining above the 50-level. If it has crossed above the 14-day SMA, it indicates a strong presence of buyers.
Summary
With a steady trading volume and a market cap of $299.932B, Ethereum remains the second-largest cryptocurrency. Technical indicators, including bullish EMAs, MACD signals, and RSI momentum, suggest a potential breakout to higher levels.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.