Crypto Money Market With the approach of the end of the moon, it entered a new era with increasing volatility. Bitcoin (BTC) $95,701.32 While hanging below 96 thousand dollars, the largest subcoin Ethereum (ETH) 
$2,682.11 2 thousand 700 dollars to maintain a different price movement made. This raised the possibility that the market could maintain its power against the overall drop pressure of the market. However, experts point out that this rise can be a short -term trap.
Factors affecting the price of Ethereum
One of the biggest effects of the rise of Ethereum is that a crypto currency -oriented neobank, Infini, has been attacked by a $ 49.5 million hack. The funds seized in this theft were translated into EMI and used in the purchase of Ethereum. This created a serious purchase pressure on the market.
Ethereum pricewith the effect of this intense demand to rise up to 2 thousand 840 dollars, but this level sales pressure came into play. It is stated that the sales of a high amount of Ethereum made by Binance have a negative impact on the price. However, the reason behind these sales movements has not yet been finalized. Some people say that the situation as a classic price manipulation seen at the beginning of the week, others says that this could be a wider strategy made by the big players of the market.
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Important levels for Ethereum price
The price of Ethereum is trying to hold on a support zone that has been maintaining its power for the last five months. Testing the level of 2 thousand 772 dollars last weekend Ethin this region, withdrawal of enough power with withdrawal. Currently, 2 thousand 700 dollars is trying to hold on, but the price movements of the purchase pressure shows that it is gradually decreasing.
Technical indicators also confirm the current situation of the market. Chaikin Money Flow (CMF) Index fell below 0 with a harsh decline. This indicates that the market power is weakened. At the same time, the directed Movement Index (DMI) -DI and +DI began to leave again as they approached each other. This may be a harbinger of a possible decline.
The most important support level for Ethereum is seen as 2 thousand 650 dollars. If the price cannot be held at this level, it is thought that it may decrease up to 2 thousand 567 to 2 thousand 541 dollars. However, before this decline to this level, a recovery may come back to the resistance of $ 2,772, while maintaining its current support.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
