Over the last 24 hours, Bitcoin has been holding on to its $19,100 level, while Ethereum has crawled up by 1.72% to trade at $1,302.
The Federal Reserve remains hawkish and plans to increase the interest rates further to curb inflation, causing the crypto market to face some terrible days. The upcoming Consumer Price Index (CPI) data for the month of September which is scheduled to be released on October 13, is expected to impact the market.
When it comes to Ethereum, for the first time since the Merger, Ethereum’s supply has plunged to -0.12% in the last seven days. The main reason could be due to the recent spike in Ethereum’s gas fees, hovering between $20 and $30 gwei. Meanwhile, if sellers decide to sell, Ethereum is expected to plunge to $1,142 after a fall of 12%.
At the time of reporting, Ethereum is selling at $1,294 with a surge of 0.688% in the last 24hrs.
The immediate resistance for Ethereum lies at $1,300 and then $1,310 and $1,320. If ETH manages to break above $1,320, the currency can easily reclaim $1,350.
However, if the lead altcoin fails to maintain its $1,300 range and drops, then the immediate fall will be at $1,270 and then $1,265.
Google To Support ETH Addresses Info
Meanwhile, now anyone can know how much Ethereum does a wallet hold via Google, the world’s largest website when you just search Ethereum address. This new feature is available via Etherscan which provides information about Ethereum blockchain.
Google is getting closer to the crypto world as the firm claimed that soon it will start using Coinbase to accept cryptocurrencies like Bitcoin, Ethereum and Dogecoin for cloud service payments.