Ethereum is one of the cryptocurrencies down this week (ETH). The largest altcoin by market value is presently trading at $1,508,81, following a price decline of 1.53% during the previous 24 hours. Over the same time frame, the alternative currency also experienced lows of $1,504.49 and highs of $1,545.55.
Due to this hiccup in ETH's 24-hour performance, the cryptocurrency has had a negative weekly performance of more than 7%. Additionally, over the previous day, ETH lost ground to its main rival, Bitcoin (BTC), by around 1.24%.
The 24-hour trade volume for ETH has increased by more than 46% from yesterday and is currently in the positive territory at $6,692,563,314. ETH's market capitalization is at $184,820,616,727.
At $1,505.46, the alternative currency is currently trading close to the support. The price of ETH may start to rise or consolidate if the cryptocurrency can end today's trading session above this level. There may still be sufficient bullish momentum to maintain the advance up because the 20-EMA line is still bullishly crossed above the 50-EMA line.
Additionally, earlier this morning, the on-chain intelligence company Glassnode shared some ETH numbers on Twitter. The total value of the ETH 2.0 deposit contract has reportedly risen to a new record-breaking high of 15,803,847 ETH, according to the post.
Disclaimer: The author's personal view may be included in the information, which is subject to market conditions. Before making a cryptocurrency investment, do some market research. Your individual financial loss is not the responsibility of the author or the publisher.