Ethereum Price Under Pressure: Here’s Why $3,000 Is A Critical Level

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This recent price action begs the question — is the Ethereum price in make-or-break season? 1.7 Million Addresses Purchased ETH At $3,000 – Here’s The Relevance In a recent post on the X platform, market intelligence platform IntoTheBlock revealed that the price of Ethereum is currently on its way down to $3,000, which has proven to be a crucial support level in the past.

Based on recent data from IntoTheBlock, more than 1.7 million addresses acquired ETH tokens in the price region just below $3,000.  Consequently, the level of buying activity has led to the formation of critical support within this price bracket.

Related Reading: Not All Hope Is Lost’: Crypto Analyst Weighs In On The Market’s Performance The above chart highlights the distribution of tokens around the current Ethereum price, according to data from IntoTheBlock.

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Article Details

Author / Journalist: Opeyemi Sule

Category: Crypto

Markets: United KingdomOman

Topics: ETH Eth price Ethereum IntoTheBlock ETHUSDT Ethereum Ethereum price

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-03 @ 14:00:05 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 397 words

Reading Time: 3 minutes read

Sentences: 61 lines

Sentence Length: 7 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 21907359

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