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 is still in a flurry and plans to raise interest rates further to curb inflation, which will lead to some terrible days for the crypto market. The upcoming Consumer Price Index (CPI) data for the month of September, which is due to be released on October 13, is expected to weigh on 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%.
An immediate resistance for Ethereum lies at $1,300 and then at $1,310 and $1,320. If ETH manages to break above $1,320, the currency could easily reclaim $1,350.
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.
Google to support ETH address info
Meanwhile, now anyone can know how much Ethereum wallet holds via Google, the world’s largest website, when you search for an Ethereum address. This new feature is available through Etherscan which provides information about the 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.
