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  • Ethereum ETH recovering above $1,250. Is this a bullish trigger?

    Ethereum ETH recovering above $1,250. Is this a bullish trigger?

    • Ethereum hovered around the $1,250 resistance on Wednesday

    • Ethereum network surpassed Bitcoin in transaction volumes in 2022

    • Wait for a bullish confirmation before buying ETH

    Ethereum (ETH/USD) is trading at its crucial resistance zone of $1,250 after recovering 3% on Wednesday. This level has proved difficult to crack since plunging below it in mid-Dec. The new year recoveries may keep bulls on alert, although it is still too early to judge how far the price can surge.

    Although 2022 was a difficult year for Ethereum, fans will be delighted by cryptocurrency news on network activity. Data from Ycharts and Nasdaq show that Ethereum topped Bitcoin in transaction volumes last year. The network witnessed 408.5 million transactions, surpassing Bitcoin’s 93.1 million. The higher volatility in Ethereum was connected to events such as NFT launches. Bitcoin, however, retained the crown as the most searched cryptocurrency.

    Data by Bitinfocharts shows that into 2023, transaction volumes are still rising for Ethereum. As of January 2, the count hit 924,614, higher than 229,191 for Bitcoin. 

    Ethereum on a short-term appreciation to the $1,250 resistance

    ETH/USD Chart by TradingView

    A technical outlook shows ETH trading on a short-term trendline initiated from the $1,100 bottom. The cryptocurrency trades with improved buy side volumes, although still not very significant. The MACD indicator is bearish, but momentum has improved slightly. 

    What to watch next for ETH

    Ethereum is a candidate for a bullish breakout at the $1,250 resistance. The bullish candlestick will be watched by the buyers. 

    Conversely, bears could take control of the price at the resistance zone. That could see ETH slide to the short-term ascending trendline. 

    If you are considering buying ETH, it is important to watch for the price to clear $1,250 successfully. As long as the price remains below this level, ETH is vulnerable.

    Where to buy ETH

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


    Buy ETH with eToro today

    Bitstamp

    Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.

    Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.


    Buy ETH with Bitstamp today

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  • Alcazar Token next 1000x on eth ecosystem

    Alcazar Token next 1000x on eth ecosystem

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  • Shiba Inu lags behind while ETH, BTC, ADA take front stage on Binance

    Shiba Inu lags behind while ETH, BTC, ADA take front stage on Binance

    Over the last couple of months, the prominent meme coin Shiba Inu ($SHIB) was seen dominating the entire crypto industry. However, the fervor around this community-driven project seemed to be simmering down. Despite the launch of its recent collectible card game, the altcoin barely garnered any gains. It seems like Binance users weren’t too curious about the meme coin either, as it failed to bag a spot on its top 10 trending search list.

    As per recent data curated by Crypto Differ, Shiba Inu stood in the 14th spot on Binance’s trending searches. This was quite surprising to many considering the usual zeal around the network.

    Source

    In the above chart, Binance Coin ($BNB) emerged as the most popular asset on the exchange. The world’s second-largest crypto, Ethereum ($ETH), stood second on this chart as well. This is mostly due to the increased liquidations that occurred throughout the day. It should be noted that a whopping $4.95 million in ETH liquidations took place over the last four hours.

    Bitcoin, the world’s largest cryptocurrency by market capitalization, was ranked third, followed by Cardano ($ADA) and Solana ($SOL).

    Other popular tokens like Luna Classic ($LUNC) and fundamental meme crypto Dogecoin ($DOGE), were also a part of the list.

    Shiba Inu gains pocketed over the last couple of hours

    While Shiba Inu’s popularity took a back seat, the asset’s price wasn’t faring too well either. At press time, most crypto assets were seen pocketing significant gains. Shiba Inu, however, limited its 24-hour price surge to 4.60%.

    At press time, Shiba Inu was trading for $0.00001042. Earlier today, the altcoin managed to surge to a high of $0.0000107 from a low of $0.00001001.

    Source

    It should be noted that the asset’s latest surge pulled SHIB out of its weekly stagnancy. Despite this, Shiba Inu continues to trade about 88% below its all-time high of $0.00008845, which it achieved exactly a year ago.



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