Ethereum Lost All 'ETF Gains,' Shiba Inu on Its Way to Add Zero, Solana Reaches $135, Critical Support ActivatedDisclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies.
Ethereum's price rose initially as a result of the much-anticipated ETF news. It appears, though, that traders lack the conviction to keep the rally going despite the ETF announcement alone. Ethereum's current price of $3,205 is significantly below its recent highs, indicating that there was insufficient purchasing interest.ecosystem this year is a major contributing factor to the lack of buying support on the market.
This means that neither new investors nor existing ones are drawn to the Ethereum network and, as a result, usage and demand for it remain low. Shiba Inu has long displayed technical weakness. A bearish trend is indicated by the asset's recent trading below its major moving averages. An oversold state is indicated by the RSI at 27, but a recovery is difficult because there are not any significant support levels below the current price.
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