Ethereum Price Holds at $1,500, Why There’s Hope For The Bulls

Name	Symbol	Market	Market Cap ($)	Algorithm
Polygon	MATICUSD	Crypto	6,868,449,945	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Polygon

MATICUSD

Crypto

6,868,449,945

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.0209	2.90%	0.7418	0.7418	0.742

Price Change

Price Change %

Current Price

Bid Price

Offer

0.0209

2.90%

0.7418

0.742

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.7418	0.7144	0.7217	0.7209	0.492200 - 1.29

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.7418

0.7144

0.7217

0.7209

0.492200 - 1.29

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	21:50:02	1.70	0.7418	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

21:50:02

1.70

0.7418

USD

Price x Volume	Volume	Base Symbol	Related Pairs
4,644,528.07	6,374,567.38	MATIC	MATICEUR	MATICGBP	MATICBTC

Price x Volume

Volume

Base Symbol

Related Pairs

4,644,528.07

6,374,567.38

Ethereum Price Holds at $1,500, Why There’s Hope For The Bulls

03/11/2022 10:00pm

NEWSBTC

After yesterday’s Federal Open Market Committee (FOMC), the Ethereum price and the crypto market have held their ground. Those market participants expecting a return to the previous range might be disappointed as macro-economic forces Related Reading: Arweave (AR) Rallies By Over 60%; Levels To Watch For Price Continuation At the time of writing, the Ethereum price trades at $1,540 with a 2% profit in 24 hours and a 2% loss in the previous seven days. Other cryptocurrencies in the top crypto top 10 by market capitalization follow this trend, but the majority record positive momentum. Ethereum Price Sustains Positive Outlook The current Ethereum price action has come as a shock for many market participants. As mentioned, market participants expected downside pressure after the U.S. Federal Reserve (Fed) reiterated its hawkish stance. However, the financial institution raised rates by 75 basis points (bps) within market expectations. The Fed and its Chairman Jerome Powell offered no surprise and will likely stay on their current course for 2022. Therefore, the crypto market can sustain its levels even as equities see losses. All major narratives in the nascent asset class have been suspended, at least until tomorrow, when the U.S. government will release new economic data. Talking about the recent price action in the crypto market, analyst Justin Bennet said: It would be ironic if markets rallied after Powell’s attempt to squash any hope at Wednesday’s FOMC. I’m not ruling it out. And to be honest I’m eyeing a few areas during this pullback in case we get it (…) Waiting for markets to digest FOMC and avoiding Friday’s NFP volatility for now. A separate report from trading firm QCP Capital indicates that the Ethereum price remains bullish in the long run. The first believes that “The Merge” impact on the ecosystem will become palpable in the coming months. In that sense, “The Surge,” the next major milestone for Ethereum, will begin exercising more influence over the crypto market. This event will complete Ethereum’s transition to a more scalable ecosystem with a project transaction per second (TPS) almost twice as high as Visa and Mastercard at 100,000. Related Reading: MATIC On The Move After Polygon Tapped By META | MATICUSD November 3, 2022 In addition, the trading firm noted a massive decrease in the ETH supply coming into the market. The amount of ETH supply issued stands at 7,000 versus 400,000 that would have been issued with the old consensus. All of these factors are poised to provide value for the ETH. Especially if macroeconomic forces mitigate their influence over risk assets.

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

MATICUSD Polygon