$ETH as per the current situation, technical charts and indi | wassi b khan on Binance Square

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$ETH as per the current situation, technical charts and indicators , think etherium definitely broke down 1800$ETH below today #DigitalAssetBill 

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#BTC #ETH the current price change distribution, the current zones, and the current heat map of the crypto world 🌍

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#USStablecoinBill #BinanceHODLerSTO #MarketPullback #StrategicBTCReserve #DigitalAssetBill *Market Overview* The cryptocurrency market is experiencing a consolidation phase after a significant rally in April. Bitcoin (BTC) is currently trading around $94,132, with a 1.38% decrease. Ethereum (ETH) is priced at $1,804.09, with a 1.29% decrease. *Key Cryptocurrency Prices* - *Bitcoin (BTC)*: $94,132 - *Ethereum (ETH)*: $1,804.09 - *BNB (BNB)*: $593.06 - *Solana (SOL)*: $144.19 - *XRP (XRP)*: $2.15 *Notable Developments* - Litecoin (LTC) price is slightly up, with analysts predicting a higher chance of approval for a spot Litecoin ETF. - Bitcoin rallied above $97,000 on Friday due to increased stablecoin inflows. - Ethereum's price growth has slowed, underperforming Bitcoin and Solana.

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#USStablecoinBill The US stablecoin bill, also known as H.R.4766 - Clarity for Payment Stablecoins Act, is currently in the legislative process. Here are some key updates: - *Introduction*: The bill was introduced in the House of Representatives in July 2024, aiming to provide clarity on payment stablecoins. - *Committee Review*: It has been referred to the House Committee on Financial Services for review and discussion. - *Purpose*: The bill seeks to establish a framework for payment stablecoins, providing regulatory clarity and guidelines for issuers and users. - *Status*: As of now, the bill is still in the committee stage, with no further updates on its progress or potential voting schedule. It's worth noting that the bill's progress can impact the stablecoin market, and stakeholders are closely watching its development.

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#MarketPullback The crypto market has indeed experienced a pullback this week. According to recent data, the global cryptocurrency sector has shrunk by 8.3% and shed over $220 billion in market capitalization. Bitcoin ETFs have seen significant outflows, with over $836 million in capital stock shed across 11 approved ETFs. This has triggered massive liquidations across crypto derivatives markets, contributing to the downward market reaction. *Key Factors Influencing the Pullback:* - *Bitcoin ETF Outflows*: The significant outflows from Bitcoin ETFs have added bearish pressure to the market. - *Derivatives Market Liquidations*: Widespread liquidations in the derivatives market have exacerbated the downward trend. - *Interest Rate Decisions*: The upcoming US Federal Reserve interest rate decision is expected to impact the market, with traders closely watching for any hints on future policy. *Market Outlook:* Despite the current pullback, some analysts believe that the market is due for a rebound. Factors supporting this outlook include. - *Stablecoin Inflows*: Record-breaking stablecoin inflows indicate growing interest and participation in the cryptocurrency market, potentially fueling a parabolic rebound. - *Investor Sentiment*: Social media sentiment has shifted positively, with high price calls exceeding lower calls, indicating potential FOMO (fear of missing out) among investors. - *Bitcoin Dominance*: Bitcoin's dominance has reached 65%, with some analysts predicting a potential collapse to 71% before a major shift in market dynamics.

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#Ethereum Based on current market data, Ethereum's price is around $1,808.46, with a 0.98% decrease in the last 24 hours. Here's a brief analysis of indicators and potential price movements: *Short-term Indicators:* - *Support Level*: Ethereum has formed a critical support zone between $1,772-$1,824, with 6.36 million ETH purchased by 4.5 million addresses. This zone could help the price bounce back if it approaches this level. - *Resistance Level*: Immediate resistance is near $1,820, followed by major resistance at $1,880. A clear move above $1,880 could trigger a substantial rally. - *Relative Strength Index (RSI)*: The 14-day RSI is at 78.46, indicating overbought conditions, which might lead to a price drop in the near term. *Potential Price Scenarios:* - *Upside*: If Ethereum breaks above $1,880, it could target $1,950 or even $2,000. Further gains could be expected, with $2,050 as the next target level. - *Downside*: If the $1,772 support breaks, Ethereum could fall to $1,500 with few intermediate support levels. *

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