{"id":406231,"date":"2023-06-10T09:52:15","date_gmt":"2023-06-10T09:52:15","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=406231"},"modified":"2023-06-10T09:52:15","modified_gmt":"2023-06-10T09:52:15","slug":"ethereums-next-upward-movement-will-the-1800-support-level-hold","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/ethereums-next-upward-movement-will-the-1800-support-level-hold","title":{"rendered":"Ethereum’s Next Upward Movement: Will the $1,800 Support Level Hold?"},"content":{"rendered":"
Ethereum (ETH<\/a>) price experienced a marginal decline of 0.06% over the past 24 hours, but it managed to maintain its long-standing support level of $1,800. This level has remained consistent for several months.<\/p>\n Currently valued at $1,843, ETH has seen a decrease of 1.93% over a week. This is largely due to legal actions taken by the United States Securities and Exchanges Commission (SEC) dampening the entire cryptocurrency market<\/a>. Despite these setbacks, Ethereum has achieved an impressive 53.7% increase since the beginning of the year.<\/p>\n The commendable performance can be attributed to the recent introduction of staking withdrawals and ongoing development efforts. These have positioned Ethereum as one of the top-performing major cryptocurrencies.<\/p>\n With Ethereum successfully holding its support level, there is potential for further upward movement in the coming months.<\/p>\n Upon analysis of Ethereum price for the daily chart, it appears that the recent volatility has set the stage for a potential resurgence. The Relative Strength Index (RSI) has returned to 50, indicating market participants’ uncertainty regarding future price momentum.<\/p>\nEthereum Price Analysis – Long-term Support is Holding ETH Prices from Falling – What’s Next?<\/h2>\n