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Ethereum price is approaching a critical support level that could take the second digital asset lower.
Ethereum (ETH) Statistics Data:
- Ethereum price now – 1,591 dollars
- Ethereum market value – 194.6 billion dollars
- Ethereum transfer supply – 122.3 million
- Total supply of Ethereum – 122.3 million
- Ethereum Coinmarketcap Rank – #2
Resistance levels: $2100, $2300, $2500
Support levels: $1200, $1000, $800
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As the daily chart shows, ETH/USD is currently down 7.30% at $1,591, a significant drop from the daily high of $1,761 when the bulls made a slight positive move. In the last few hours, the price of Ethereum managed to find some support around the $1,570 level.
Ethereum goes south when Tamadog trades bullish
After touching the daily high of $1,761 a few hours ago, the price of Ethereum is currently experiencing the low side. However, as the 9-day moving average still remained above the 21-day moving average, many traders were expecting the coin to continue its uptrend. However, Ethereum price is currently hovering around the 9-day and 21-day moving averages but is currently trading south.
In addition, a bearish drop below the lower border of the channel can drive the market to the $1200, $1000 and $800 support levels, and a possible rise above the moving average can hit the $2100, $2300 resistance levels. , and $ 2500 which may provide further signs of a market crash. Meanwhile, the relative strength index (14) is facing the negative side, and staying there could cause the coin to touch the $1300 support level.
As for Bitcoin, the price of Ethereum is currently on the rise as the bulls have yet to dominate the market. Even so, ETH/BTC is currently trading at 7910 SAT and the bulls have not been able to push the price above 7997 SAT on a daily basis. However, if the market falls below the lower boundary of the channel, the next key support may come at 6500 SAT and below.
On the downside, any further bullish activity could push the market to the upper border of the channel to visit the 9000 SAT resistance level and above. At the same time, the relative strength indicator (14) is moving above the 50-level, which means that the market may follow a crash movement.
Tamadogge Group said the move aims to make investing in TAMA easier and safer. These users can be convinced to move fiat to crypto, so Tamadoge is important to secure this contract with Tranak. One of the strong pillars of projects in the Web 3.0 and crypto sector is having a strong team to make the project a success. TMA’s website lists Thomas Seabrook as Tamadoge’s lead developer and Carl Dawkins as development lead. Other members of the Tamadoge team include Neil Palethorpe and Sifamandla Majoli, who joined as Senior Interaction Designer and Senior Blockchain Developer.
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