Ethereum

Ether Leeum price is higher than important support levels. Can it fall to $ 1,500?

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In the last few weeks of the end of April, the fast rupture of the optimistic propulsion in the encryption market has seen that Etherrium price is more than $ 1,800 for more than a month. However, Altcoin did not end a month as a profit, making April four consecutive months of negative performance. According to the latest warm chain data, Etherrium prices appear to increase the level of important support, which can determine the trajectory of ALTCOIN over the next few weeks.

There is a risk of ETH prices to drop to $ 1,772.

In a May 3 post on the X platform, ALI Martinez, a famous encryption analyst, said that Ether Leeum’s price could be an important time to determine the short -term future. Based on the latest warm chain data, Altcoin is at risk of falling to about $ 1,500 if it loses this support level in the future.

This hotint assessment of Etherrium prices is centered on the average cost base of multiple Etherrium investors. In cryptocurrency, the cost standard analysis determines the ability of the price level that can be served by support or resistance based on the amount of coins lasted by the local investors.

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Ether Leeum price — Source: @ali_Charts on X

As you can see in the chart above, the size of the dot (green and red) shows the number of ether tokens purchased in the price area and coincides with it. The larger the circle, the higher the amount of the tokens purchased inside and outside the price and the stronger the resistance or support level.

According to Intotheblock’s data, more than 6.66 million ETH tokens were purchased at 4.5 million addresses within the price range of $ 1,772 and $ 1,824 (average $ 1,799). As mentioned earlier, the high purchasing activities of this price range have formed a major support level just below the current price.

The price of Etherrium is expected to pop out again when it falls to this level. The basis for this expectation is that when the ETH price returns to about $ 1,772, investors with this level and the cost of the surrounding costs will help to defend their positions by defending their positions by purchasing more tokens.

However, the emphasized charts have significantly reduced investor activities with the price level below the $ 1,772 support level. This suggests that if the $ 1,772 is violated, Etherrium prices can drop to about $ 1,500 without taking a break. On the other hand, if this support level is not collapsed, the price of ETH can be traveled to $ 2,100.