Ethereum Chart And Price Technical Analysis – 17 Nov 2022
17 Nov 2022
Ethereum Falls By 17% IN LAST 24 Hrs.
In the past 24 hours, Ethereum has fallen by 17%. It is currently valued at $1200 which is a fall from its value of approximately $1700 in recent weeks.
Ethereum is the largest blockchain in the market and as a cryptocurrency, it is the second largest. Launched in 2015, Ethereum is a well-established coin and seems to be evolving well with the market. In September this year, Ethereum made history by officially having its merger take place. This means that Ethereum no longer uses large amounts of energy and is now more sustainable. This is a great thing to achieve as it provides a solution to a major issue that comes with crypto, as well as raising its potential for long-term success
has been stuck between $1,170 to $1,350 from Nov. 10 to Nov. 15, which represents a relatively tight 15% range. During this time, investors are continuing to digest the negative impact of the Nov. 11 Chapter 11 bankruptcy filing of the FTX exchange.
Meanwhile, Ether’s total market volume was 57% higher than the previous week, at $4.04 billion per day. This data is even more relevant considering the collapse of Alameda Research, the arbitrage and market-making firm controlled by FTX’s founder, Sam Bankman-Fried.
On a monthly basis, Ether’s current $1,250 level presents a modest 4.4% decline, so traders can hardly blame FTX and Alameda Research for the 74% fall from the $4,811 all-time high reached in November 2021.