Ethereum: The Search For Liquidity Continues
Down 1.4% in the last seven days, Ethereum is trading at $1,827. Attempts to weaken resistance at $1,850 have failed numerous times but show the likelihood of an extended rout below $1,800. advertisement Ethereum Undervaluation Suggests A Swift Rebound Ethereum has been trading in a range between $1,600 and $2,000 since March apart from a single outburst in mid-April that propelled it to highs slightly above $2,100. This rally had been triggered by the launch of the Shapella upgrade, which completed the transition to a proof-of-stake (PoS) consensus algorithm ensuring investors could withdraw staked rewards from the Beacon Chain. The lack of market-moving events and a generally dilapidated crypto market structure has limited Ether movements and continues to do so, especially with volatility dropping to record lows. According to insights by CryptoQuant, ETH has from January 1 to August 15 consistently hovered between the 1.5k and 1.6k range. ...