{"id":519821,"date":"2023-02-15T14:00:35","date_gmt":"2023-02-15T14:00:35","guid":{"rendered":"https:\/\/ktsl888.com\/?p=519821"},"modified":"2023-02-16T04:27:15","modified_gmt":"2023-02-16T04:27:15","slug":"ethereum-tightens-grip-on-1500","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum-tightens-grip-on-1500\/","title":{"rendered":"Ethereum Tightens Grip On $1,500 As ETH Drops 7% In The Last Week"},"content":{"rendered":"

The crypto market has been shaken to the core once again as major cryptocurrencies plummet to crucial support levels. Ethereum, the prized altcoin of the crypto industry, has recently <\/span>gained<\/span><\/a> nearly 7% in the daily time frame. This is the coin\u2019s ongoing efforts to strengthen its current support located at $1,500 as it lost the same value last week in the face of negative investor sentiment.\u00a0<\/span><\/p>\n

Recent external events have shaken investor confidence, such as macroeconomic events that are currently spreading fear, uncertainty, and doubt in the market. This February 16 is the release of several macroeconomic indicators that are expected to impact the broader financial market.\u00a0<\/span><\/p>\n

Related Reading: CRV Daily Volume Peaks To Over $1 Billion In Past 24 Hours<\/a><\/div>\n

Vitalik Buterin Sells Some ETH\u00a0<\/strong><\/h2>\n

In another development, Ethereum cofounder Vitalik Buterin recently sold 210 ETH in the market. This was first noticed by <\/span>PeckShieldAlert<\/span><\/a>, a Twitter account dedicated to tracking large transactions. The recent movement of Buterin\u2019s ETH has been the subject of discourse online with some questioning where the funds will be used.\u00a0<\/span><\/p>\n

Related Reading: Bitget (BGB) Soars 83% As Top 100 Cryptos Hemorrhage \u2013 Here\u2019s Why<\/a><\/div>\n

During the date of the Tweet, February 15th, the amount sold is worth $324,400 of USDC. The stablecoins are then deposited to Kraken. This transaction, however, did not have a strong effect in the market. In the meantime, investors should watch out for these macro indicators.\u00a0<\/span><\/p>\n

Macroeconomic FUD<\/strong><\/h2>\n

Meanwhile, economists are pessimistic about the short to medium term prospect of the US economy. Recent macroeconomic data <\/span>released<\/span><\/a> on February 14th certainly had some effect on the coin\u2019s trajectory.\u00a0<\/span><\/p>\n

However, this positive sentiment is negated by events that happened recently. Matt Weller, Global Head of Research at FOREX.com, recently <\/span>shared<\/span><\/a> his thoughts about the state of the global economy. He said that events from 2022 and the fact that the International Monetary Fund is hawkish about the future of the world economy still sets the mood for investors.\u00a0<\/span><\/p>\n

The IMF recently warned about how shock-prone the global economy really is. With the <\/span>fear<\/span><\/a> of a global recession still lingering around, Ethereum \u2013 and the crypto market in general \u2013 might experience volatility because of this.\u00a0<\/span><\/p>\n

<\/p>\n

Crypto total market cap at $1 trillion on the daily chart | Chart: TradingView.com<\/a><\/pre>\n
\n
Related Reading: CRV Daily Volume Peaks To Over $1 Billion In Past 24 Hours<\/a><\/div>\n<\/div>\n

Ethereum At $1.5K Support\u00a0<\/strong><\/h2>\n

At the time of writing, the coin is trading at $1,651 with support at $1.500. This recent rebound of Ethereum might be a sign that the bulls have successfully strengthened the coin\u2019s crucial support at such an important time.\u00a0<\/span><\/p>\n

This recent price action is also the result of improving macros which will inevitably pull the price of Ethereum upwards. However, the massive price jump should be taken with a grain of salt as the next couple of days are expected to be filled with volatility.\u00a0<\/span><\/p>\n

-Featured image from Oxygen Mag<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The crypto market has been shaken to the core once again as major cryptocurrencies plummet to crucial support levels. Ethereum, the prized altcoin of the crypto industry, has recently gained nearly 7% in the daily time frame. This is the coin\u2019s ongoing efforts to strengthen its current support located at $1,500 as it lost the same value last week in the face of negative investor sentiment.\u00a0 Recent external events have shaken investor confidence, such as macroeconomic events that are currently spreading fear, uncertainty, and doubt in the market. This February 16 is the release of several macroeconomic indicators that are expected to impact the broader financial market.\u00a0 Related Reading: CRV Daily Volume Peaks To Over $1 Billion In Past 24 Hours Vitalik Buterin Sells Some ETH\u00a0 In another development, Ethereum cofounder Vitalik Buterin recently sold 210 ETH in the market. This was first noticed by PeckShieldAlert, a Twitter account dedicated to tracking large transactions. The recent movement of Buterin\u2019s ETH has been the subject of discourse online with some questioning where the funds will be used.\u00a0 Related Reading: Bitget (BGB) Soars 83% As Top 100 Cryptos Hemorrhage \u2013 Here\u2019s Why During the date of the Tweet, February 15th, the amount sold is worth $324,400 of USDC. The stablecoins are then deposited to Kraken. This transaction, however, did not have a strong effect in the market. In the meantime, investors should watch out for these macro indicators.\u00a0 Macroeconomic FUD Meanwhile, economists are pessimistic about the short to medium term prospect of the US economy. Recent macroeconomic data released on February 14th certainly had some effect on the coin\u2019s trajectory.\u00a0 However, this positive sentiment is negated by events that happened recently. Matt Weller, Global Head of Research at FOREX.com, recently shared his thoughts about the state of the global economy. He said that events from 2022 and the fact that the International Monetary Fund is hawkish about the future of the world economy still sets the mood for investors.\u00a0 The IMF recently warned about how shock-prone the global economy really is. With the fear of a global recession still lingering around, Ethereum \u2013 and the crypto market in general \u2013 might experience volatility because of this.\u00a0 Crypto total market cap at $1 trillion on the daily chart | Chart: TradingView.com Related Reading: CRV Daily Volume Peaks To Over $1 Billion In Past 24 Hours Ethereum At $1.5K Support\u00a0 At the time of writing, the coin is trading at $1,651 with support at $1.500. This recent rebound of Ethereum might be a sign that the bulls have successfully strengthened the coin\u2019s crucial support at such an important time.\u00a0 This recent price action is also the result of improving macros which will inevitably pull the price of Ethereum upwards. However, the massive price jump should be taken with a grain of salt as the next couple of days are expected to be filled with volatility.\u00a0 -Featured image from Oxygen Mag<\/p>\n","protected":false},"author":557,"featured_media":519824,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[134,14690,1946,2896,3505],"class_list":["post-519821","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoin","tag-crypto-news","tag-ethereum","tag-markets","tag-price-analysis"],"acf":[],"yoast_head":"\nEthereum Tightens Grip On $1,500 As ETH Drops 7% In Last Week<\/title>\n<meta name=\"description\" content=\"Ethereum, the prized altcoin of the crypto industry, has recently gained nearly 7% in the daily time frame.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/ktsl888.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Tightens Grip On $1,500 As ETH Drops 7% In The Last Week","url":"http:\/\/ktsl888.com\/news\/ethereum-tightens-grip-on-1500\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/ethereum-tightens-grip-on-1500\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/a-31.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/a-31.png?fit=1072%2C604"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","crypto news","ethereum","markets","price analysis"],"dateCreated":"2023-02-15T14:00:35Z","datePublished":"2023-02-15T14:00:35Z","dateModified":"2023-02-16T04:27:15Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Tightens Grip On $1,500 As ETH Drops 7% In The Last Week\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ethereum-tightens-grip-on-1500\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ethereum-tightens-grip-on-1500\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/a-31.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/a-31.png?fit=1072%2C604\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"crypto news\",\"ethereum\",\"markets\",\"price analysis\"],\"dateCreated\":\"2023-02-15T14:00:35Z\",\"datePublished\":\"2023-02-15T14:00:35Z\",\"dateModified\":\"2023-02-16T04:27:15Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/a-31.png?fit=1072%2C604","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/519821"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=519821"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/519821\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/519824"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=519821"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=519821"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=519821"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}