Looking at the recent performance of Ethereum’s native cryptocurrency, Ether (ETH), it can be noted that key fundamentals remain solid.
- Market dominance among the rest of the altcoin pack
- Continually gaining market share
- Ethereum network usage data remains healthy
- The 67-day support test affirmed professional trader interest
ETH/USDT Perpetual - 15 Minute Time Frame
What to keep on your radar
- The SEC’s actions against Binance and Coinbase could positively impact Ether’s price. Ether’s price action, network data and other data that impacts investor sentiment all point to a high probability that Ether’s price will hold above $1,800.
- If investors worry about Ether breaking below the $1,800 support, it should be reflected in the ETH futures contract premium.
- The TVL statistic (Total Value Locked) measuring the deposits locked in Ethereum’s decentralized applications (DApps) registered a 4% increase in active addresses.
- The impact on Ether derivatives markets on the price has also been negligible.