Ali Raza
Ethereum is bearish today after dropping 1.7% in the last 24 hours. At the time of writing, Ether was trading at $1,267, according to CoinGecko. The performance of Ether reflects that of the broader cryptocurrency market, given that within the same time, the global cryptocurrency market cap has dropped 0.6% to $891 billion.
Ethereum price drops
Ethereum is bearish today, with the price trading between $1,258 and $1,290 in the last 24 hours, indicating mild volatility. The trading volumes during this time stand at $4.3 billion, while its market capitalization is at $152 billion, giving the altcoin a market dominance of 17.12%.
The Ethereum price action over the past week shows that the bulls have fought off any significant price declines. The token has managed to hold above $1,220 during the past week, with the closest support currently at $1,100.
If the bulls resume, Ether will likely surge toward the $1,280 level before reclaiming $1,300. The token has been rejected at this resistance level severally, and if it breaks past this level again and the price continues rising, the psychological level of $1,500 could be the next target.
The Relative Strength Index indicator currently resides at the 47 level, showing that ETH is neither overbought nor oversold, which could explain why the token has not shown a significant increase in volatility. Moreover, the MACD line shows signs of crossing upwards above the signal line, showing that bulls are gearing up.
Ethereum has failed to record any significant uptrend despite the Ethereum core developers providing a deadline for the highly awaited Shanghai network upgrade. The upgrade will allow the staked Ether to be withdrawn.
Ethereum’s lead developer, Tim Beiko, said that rolling out staking withdrawals was a priority for everyone and provided March as the deadline for rolling out this upgrade, allowing investors to withdraw their staked ETH.
Green crypto that could make Ethereum shine
As ETH continues trading sideways, one of the projects created on the blockchain, IMPT, is making significant strides. IMPT is a green project running on Ethereum. The project seeks to lower carbon emissions through blockchain technology, and it is receiving much attention from ESG investors. Part of its ecosystem will include a marketplace allowing users to buy, sell and retire carbon credits.
The IMPT presale has only one day left before it closes, and in the last few days, crypto investors have been rushing to accumulate the token before the IEO on December 14. The IMPT presale has already raised more than $17.5 million, with 1 IMPT being priced at $0.023.The IMPT listing price will be 10x higher than the current presale price, giving early investors guaranteed returns on their investment.
The token has already secured several listings on centralized and decentralized exchanges. The project has already confirmed that it will be listed on the LBank, Changelly, and Uniswap exchanges. Seven other exchange listings are yet to be announced.
Related
- Ethereum Price Prediction 2022 – 2025
- Is Ethereum a Good Investment in December 2022
- Where to Buy Ethereum – Beginner’s Guide
IMPT - New Eco Friendly Crypto
- Carbon Offsetting Crypto & NFT Project
- Industry Partnerships, Public Team
- Listed on LBank, Uniswap
- Upcoming Listings - Bitmart Dec 28, Gate.io Jan 1st
This article was written for Business 2 Community by Ali Raza.
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