Ethereum, the second-largest cryptocurrency, lost more than 4% of its value and fell to $1,526 after it couldn’t keep going up.
The value of the global cryptocurrency market has dropped by over 4% in the last day, from $999 billion to $969 billion.
How much does Ethereum cost today?
Today, January 1, the price of Ethereum in US dollars was $1,538.94.
The market price of Ethereum, which is $1,529.25 with a trading volume of $10 billion, has dropped by 4% in the last 24 hours. Even so, the digital asset is still one of the most valuable and frequently traded ones.
Sources say that Ethereum is ranked second right now and has a market value of 187 billion USD. At the moment, there are 122,373,866 ETH coins in circulation, and the maximum number that will ever be made has not been decided yet.
Strong bearish sentiment has kept the ETH/USD pair from breaking through the $1,600 double top resistance barrier, which has caused its value to drop to $1,500.
Related: ETH Price Forecast: Today’s Ethereum Price, 12 January 2023
At the moment, Ethereum’s most important support level is $1,500. Based on the 38.2% Fibonacci retracement, selling pressure is likely to get stronger if this goes down to $1,440. If it is also broken, ETH could fall below $1,350 and be in a tough spot.
If the $1,500 level is broken, the price is likely to go up to $1,660, which will act as a resistance level.
