ETH Analysis
| Overall Performance | |||||
| 24-hr | 7-Day | 30-Day | 1-Year | Mkt Cap. | 24-hr Vol. |
| 0.17% | -5.39% | -14.61% | -11.24% | 221.82 bn | 4.82 bn |
Ethereum (ETHUSDT) price over 7 days dropped -5.39% to 1,804.96 for the week ending 2023-05-14. For the record, ETHUSDT is -63.00% below all-time high of 4,878.26.
Over the last 30 days, ETH is down by -14.61% while 12-month period is down by -11.24%.
For the week, our technical outlook suggests weakness as Ethereum is not performing well over the last 7 days.
What can we expect from Ethereum today?
At time of writing, however, Ethereum has increased by 0.17% over the past 24 hours. Our daily analysis is that the price action looks mixed.
Looking ahead for the day, immediate upside resistance level at 1,815.87 (R1) with break above could target 1,826.78 (R2), while on the downside we are looking at daily low of 1,785.23 as an immediate support level. Break below this level could weaken the current bullish momentum.
Key levels to watch out:
| R3 | 1,842.10 |
| R2 | 1,826.78 |
| R1 | 1,815.87 |
| Daily Pivot | 1,800.55 |
| S1 | 1,789.64 |
| S2 | 1,774.32 |
| S3 | 1,763.41 |
About Ethereum
Ethereum is a smart contract platform that enables developers to build tokens and decentralized applications (dapps). ETH is the native currency for the Ethereum platform and also works as the transaction fees to miners on the Ethereum network.Ethereum is the pioneer for blockchain based smart contracts. Smart contract is essentially a computer code that runs exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference. It can facilitate the exchange of money, content, property, shares, or anything of value. When running on the blockchain a smart contract becomes like a self-operating computer program that automatically executes when specific conditions are met.Ethereum allows programmers to run complete-turing smart contracts that is capable of any customizations. Rather than giving a set of limited operations, Ethereum allows developers to have complete control over customization of their smart contract, giving developers the power to build unique and innovative applications.Ethereum being the first blockchain based smart contract platform, they have gained much popularity, resulting in new competitors fighting for market share. The competitors includes: Ethereum Classic which is the oldchain of Ethereum, Qtum, EOS, Neo, Icon, Tron and Cardano.Ethereum wallets are fairly simple to set up with multiple popular choices such as myetherwallet, metamask, and Trezor. Read here for more guide on using ethereum wallet: How to Use an Ethereum Wallet
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