Ether (ETH), an indigenous token of Ether Lee, fell to less than $ 2,000 on March 10, and Altcoin struggled to restore higher positions than psychological levels.
Bitcoin (BTC) and XRP (XRP) have shown some recovery rate in the last 24 hours, but Ether prices have not shown strong momentum on the chart.
Altcoin plunged to $ 1,752 for many years on March 11. However, according to onchain data and technical analysis, the price can fall by 15% in the next few weeks.
Ether Leeum was realized in two years.
The current price deviation is less than $ 2,000, which is influenced by the chain of Altcoin. According to GlassNode, a data analysis platform, ETH has fallen below $ 2,054 for the first time since February 2023.
Ether Lee Rium realized the price and MVRV. Source: x.com
The ETH realization price calculates the average price of each ETH, which shows the average cost of total circulation supply. The current decline below the realized price indicates an extensive loss of loss of all ETH holders.
The market value of the realization value (MVRV) also dropped to 0.93 and the average loss of all ETH holders across the network is 7%. However, it should be noted that the realized price reflects the weighted average of all historical transactions. Therefore, it includes the cost criteria of all ETH holders, not a certain period of 2023 to 2025.
Ether Leeum’s TVL chart. Source: Defillama
Meanwhile, Ether Leeum’s total value lock (TVL) fell to $ 45.6 billion in six months on March 12, decreased by 41% from $ 77 billion on December 17, 2024.
In addition, the total fees paid to use Ether Leeum were signaled to weaken the network participation at the lowest level since July 2020.
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The price of ether between $ 1.6K-$ 1.9K is “attractive”.
In the recent X post, GlassNode explained how Ethereum’s cost distribution could be useful for identifying ETH’s potential support. Based on the weekly prospects, Ether’s recent falls have been less than $ 1,880, with about $ 1,900 accumulated about $ 1,900. Post state,
“This suggests that if $ 1.9K is integrated at $ 1.9K at the current level, it can be supported. The above spot, $ 2.2K (465K $ eth) is the following resistance. The supply gap between $ 1.9K and $ 2.2K is thin, so short -term movement for resistance is plausible. ”
Ninja’s Ether Lee Week Week Analysis. Source: x.com
At the same time, anonymist ninja (Ninja) believes that the floor price of Ether Lee is from $ 1,600 to $ 1,900.
The merchant added that the above range is “an attractive area of commercial money,” and has set a high swing goal for $ 2,500.
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This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.