• Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA
Saturday, September 23, 2023
WongaNews.com
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading
No Result
View All Result
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading
No Result
View All Result
WongaNews.com
No Result
View All Result

Ethereum breaks $1.8K first time since June crash – up 104% from local market bottom

August 8, 2022
in Trading
Reading Time: 3 mins read
A A
Ethereum breaks $1.8K first time since June crash – up 104% from local market bottom
ShareShareShareShareShare

The price of Ethereum has broken $1,800 for the first time since the market crash in June amid the Terra fallout.

The bullish price movement comes less than a month from The Merge, which is scheduled for September. Ethereum rose strongly against Bitcoin on August 8 as it approached a key resistance that was last tested on August 6.

Eth 1800
Source: TradingView

Breaking the 0.07 BTC resistance could be critical for Ethereum to continue its bullish movement without the support of Bitcoin rallying the overall market.

However, despite fighting this key resistance, ETH’s performance against the dollar has been solid, sitting at $1,808 at the time of writing. After reaching a local low of $1,300 on July 26, Ethereum has seen extremely bullish price action rising 33% in just 12 days.

ethusdt 1800
Source: TradingView

The overall crypto market has retained its $1 trillion market cap since July 27. Currently, it sits at $1.13 trillion as sentiment begins to move into a more bullish area for the time being. Ethereum makes up $220 billion of the total market cap behind Bitcoin at $461 billion.

Zooming out to view the bigger picture, ETH would have to reach its all-time high against Bitcoin recorded in 2017 to realize The Flippening and surpass Bitcoin in market cap. At the current price of Bitcoin, Ethereum would need to continue to around $3,800 to surpass Bitcoin, a feat that has never before happened.

With The Merge scheduled for September, all eyes are currently on Ethereum and how it will perform as the Beacon chain is merged to mainnet. Vitalik Buterin has played down talk of a hard fork to retain proof-of-work, and significant projects such as Chainlink have officially stated they will only support the proof-of-stake chain post-merge.

Should a fork happen, and ETHW coins are airdropped to ETH holders, it may create increased buy-side pressure for Ethereum if holders sell ETHW coins to buy mainnet ETH coins.

Get an Edge on the Crypto Market 👇

Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.

On-chain analysis

Price snapshots

More context

Join now for $19/month Explore all benefits

Credit: Source link

Related articles

The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

September 20, 2023
What perpetual futures tell us about the current Bitcoin market

What perpetual futures tell us about the current Bitcoin market

September 20, 2023
ShareTweetSendPinShare
Previous Post

Brazil Sees The Backend Tech Of Bitcoin As A Better Payment System

Next Post

Bitcoin Stock-to-Flow model creator PlanB promotes ‘quant investing’ via ByBit to ‘100x’ HODL strategy

Related Posts

The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

September 20, 2023

Who Are Bitget?: Five years ago, a visionary group of traditional finance experts and innovators embarked on a journey to...

What perpetual futures tell us about the current Bitcoin market

What perpetual futures tell us about the current Bitcoin market

September 20, 2023

What is CryptoSlate Alpha?A web3 membership designed to empower you with cutting-edge insights and knowledge. Learn more ›Connected to AlphaWelcome!...

‘BitBoy’ Charity Plea Met with Skepticism and Mockery

‘BitBoy’ Charity Plea Met with Skepticism and Mockery

September 20, 2023

From support to outright mockery, 'Bitboy' Armstrong's charity plea sparks a whirlwind of responses from the crypto community. Continue reading...

BitBoy Crypto’s Ben Armstrong Exits FTX Influencer Lawsuit

BitBoy Crypto’s Ben Armstrong Exits FTX Influencer Lawsuit

September 18, 2023

Ben Armstrong, the former face behind BitBoy Crypto, has been dismissed from the FTX lawsuit, targeting celebrities and influencers. Continue...

Short-Bitcoin products gain popularity as clampdown-driven crypto outflow persists

Short-Bitcoin products gain popularity as clampdown-driven crypto outflow persists

September 18, 2023

Crypto investment products have seen a trend of outflows for five consecutive weeks, as $54 million exited these products in...

Load More
Next Post
Bitcoin Stock-to-Flow model creator PlanB promotes ‘quant investing’ via ByBit to ‘100x’ HODL strategy

Bitcoin Stock-to-Flow model creator PlanB promotes 'quant investing' via ByBit to '100x' HODL strategy

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Chile’s VIK Uncorks Wine NFTs to Pop Open Tangible Bottles

Chile’s VIK Uncorks Wine NFTs to Pop Open Tangible Bottles

August 27, 2023
Chainalysis, The Theranos Of Blockchain Forensics?

Chainalysis, The Theranos Of Blockchain Forensics?

August 31, 2023
Bitcoin futures show renewed confidence amidst price surge

Bitcoin futures show renewed confidence amidst price surge

August 31, 2023

About Us

Wonga News is an online news portal that aims to provide the latest crypto news, blockchain, regulations, and much more stuff like that around the world. We promise to share only high quality content from the world's best crypto sources. Feel free to get in touch with us!

What’s New Here!

  • Coinbase CEO Brian Armstrong Stands Against AI Regulation – BeInCrypto
  • Analysts Split – Rally to $1.80 or Dip to $0.41?
  • Bitcoin Blockchain Is Fighting Fraud In Guatemala’s Presidential Elections

Newsletter

Loading
  • Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 WongaNews.com - All Rights Reserved!

No Result
View All Result
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading

© 2022 - WongaNews.com - All Rights Reserved!

  • bitcoinBitcoin(BTC)$26,598.000.26%
  • ethereumEthereum(ETH)$1,593.730.22%
  • USDEXUSDEX(USDEX)$1.07-0.47%
  • tetherTether(USDT)$1.000.01%
  • binancecoinBNB(BNB)$210.610.18%
  • rippleXRP(XRP)$0.51-0.43%
  • usd-coinUSDC(USDC)$1.000.02%
  • staked-etherLido Staked Ether(STETH)$1,593.960.14%
  • dogecoinDogecoin(DOGE)$0.0616000.46%
  • cardanoCardano(ADA)$0.2460841.14%
  • solanaSolana(SOL)$19.470.66%
  • ToncoinToncoin(TON)$2.310.14%
  • tronTRON(TRX)$0.0836740.67%
  • Wrapped stETHWrapped stETH(WSTETH)$1,865.160.38%
  • polkadotPolkadot(DOT)$4.030.61%
  • matic-networkPolygon(MATIC)$0.520.62%
  • litecoinLitecoin(LTC)$65.031.26%
  • shiba-inuShiba Inu(SHIB)$0.0000083.63%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$26,557.000.18%
  • bitcoin-cashBitcoin Cash(BCH)$208.780.96%
  • chainlinkChainlink(LINK)$7.174.35%
  • daiDai(DAI)$1.000.11%
  • leo-tokenLEO Token(LEO)$3.84-0.29%
  • true-usdTrueUSD(TUSD)$1.000.05%
  • uniswapUniswap(UNI)$4.260.73%
  • stellarStellar(XLM)$0.1140320.44%
  • avalanche-2Avalanche(AVAX)$8.901.00%
  • moneroMonero(XMR)$142.60-1.56%
  • okbOKB(OKB)$42.71-0.32%
  • Aerarium FiAerarium Fi(AERA)$7.12-13.06%
  • binance-usdBinance USD(BUSD)$1.00-0.01%
  • BSCEXBSCEX(BSCX)$237.310.49%
  • ethereum-classicEthereum Classic(ETC)$15.250.76%
  • cosmosCosmos Hub(ATOM)$7.090.05%
  • hedera-hashgraphHedera(HBAR)$0.0514082.79%
  • filecoinFilecoin(FIL)$3.241.09%
  • GGTKNGGTKN(GGTKN)$0.1121310.76%
  • crypto-com-chainCronos(CRO)$0.0505180.66%
  • lido-daoLido DAO(LDO)$1.490.55%
  • quant-networkQuant(QNT)$90.781.68%
  • internet-computerInternet Computer(ICP)$2.961.74%
  • MantleMantle(MNT)$0.391445-0.64%
  • vechainVeChain(VET)$0.0170110.08%
  • AptosAptos(APT)$5.120.13%
  • makerMaker(MKR)$1,285.680.72%
  • ArbitrumArbitrum(ARB)$0.82-1.84%
  • nearNEAR Protocol(NEAR)$1.110.30%
  • optimismOptimism(OP)$1.290.91%
  • EdgecoinEdgecoin(EDGT)$1.00-0.03%
  • KaspaKaspa(KAS)$0.0453000.18%