Ethereum Price Analysis: Ether Coin Broke the Milestone of 200,000 Validators

  • Ether coin crosses 200,000 validators, and more than $14 billion is now staked on ETH 2.0
  • The ETH/BTC currently values neutral at 0.05756481 BTC, with a 0.3%
  • The trading volume of 24-hour is at $19,301 Billion

Source: ETH/USD on TradingView

The daily technical chart of Ether coin predicts an upward trend. According to Pivot points (FIB), ETH’s crucial support level is $1840. Conversely, if it rides up, the required resistance level to observe is at $2294.  If it breaks above, the next one to watch for is $2740. Thus, while the intraday chart forms a Doji star candlestick pattern, predicting prices may remain sideways with average dependability.

The exponential moving average (EMA) composed of 20,50,200-EMA can be a reliable support for currency price changes. However, investors can notice the price surges above the orange line, and 200-EMA is acting as a support now, ensuring an upward trend until the price remains above the EMA-200.

Volume of (4.04K) is beneath the MA of 20-days (25.974K). Buying pressure is low in Ethereum, making its price remain around the resistance zone. Investors may also witness waning volume bars in the chart, which intimates a big move is expected in upcoming trading sessions.

The Stochastic RSI (overbought) with a value of K-100 D-99 presents a buy signal in the coin. As a result, investors may observe an inclining slant and a positive crossover in the index. It may remain in positive territory for future trading sessions.

Ether Coin Prices Surge as The Ethereum Network Continues to Record More & More Support as The Release Approaches

The network has now successfully exceeded 200,000 validators, which means that more than 200,000 validating nodes are running before launch and counting from ETH 2.0. The number of Ether staking now exceeds 6.6 million coins, and the total amount of ETH being staked on the network currently exceeds 14 billion U.S. dollars.

More than 20,000 validators were added to the network in one month, increasing the number of validators from 180,000 to 200,000. What followed was more and more ETH being staked on the network. More and more investors continue to stake their coins and look forward to upgrading to ETH 2.0, which will bring rewards to validators.

At this point, the Ether staking volume now accounts for more than 5% of all ETH in circulation. The current annual APY of ETH staked on the Ethereum network is 6.1%.

Resistance: $2294 & $2740

Support: $1840