Blockchain Infrastructure and DeFi Discussions Lead Market Trends

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 6 days ago

ETH+5.56%

LTC+0.346%

BONK+2.54%

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Avalanche Network Expansion: As one of the most discussed layer-one blockchain projects, Avalanche continues to expand decentralized finance and gaming applications, maintaining relatively fast transaction speeds and lower costs, which attracts traders monitoring blockchain infrastructure projects and indicates long-term adoption potential.
Ethereum's Institutional Activity: Ethereum remains dominant in the smart contract market, and despite facing transaction fee concerns and competition, its strong participation in decentralized finance, tokenization, and layer-two scaling solutions reflects ongoing institutional interest in the platform.
Litecoin's Conservative Appeal: With payment-related use cases gaining traction, Litecoin has regained attention among investors; its longevity and network reliability make it a safer choice for conservative traders, highlighting the market's demand for stable assets amid volatility.
Bonk's Speculative Sentiment: Bonk has garnered attention in the meme token resurgence, with trading volume surging during periods of heightened retail trading; while its volatility poses risks, short-term momentum traders are keenly watching for potential rallies, indicating a continued interest in speculative assets.

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Technical Analysis for ETH

Technical Sentiment Analysis for Ethereum (ETH). As of , Ethereum (ETH) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 2 indicators are flashing buy, while 5 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ETH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, ETH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Ethereum (ETH) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	1239.263	1375.632	1503.043	1639.412	1766.823	1903.192	2030.603
Fibonacci	1375.632	1476.396	1538.648	1639.412	1740.176	1802.428	1903.192

About ETH

Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts.Ethereum was first described in a 2013 whitepaper by Vitalik Buterin. Buterin, along with other co-founders, secured funding for the project in an online public crowd sale in the summer of 2014. The project team managed to raise $18.3 million in Bitcoin, and Ethereum’s price in the Initial Coin Offering (ICO) was $0.311, with over 60 million Ether sold. Taking Ethereum’s price now, this puts the return on investment (ROI) at an annualized rate of over 270%, essentially almost quadrupling your investment every year since the summer of 2014.The Ethereum Foundation officially launched the blockchain on July 30, 2015, under the prototype codenamed “Frontier.” Since then, there has been several network updates — “Constantinople” on Feb. 28, 2019, “Istanbul” on Dec. 8, 2019, “Muir Glacier” on Jan. 2, 2020, “Berlin” on April 14, 2021, and most recently on Aug. 5, 2021, the “London” hard fork.Ethereum’s own purported goal is to become a global platform for decentralized applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime and fraud.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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