The ETHEREUM price style indicates a 35 % increase

The price of ETHEREUM was in a narrow range this week, as the encryption investors on the margin remained and the flow of money traded on the stock exchange increased.

ethereum (EthIt was circulated at $ 1580 on Friday, where it remained throughout the week. It has increased by 14 % of its lowest point this month.

Ethereum faces many challenges, especially the increasing competition from layer 2 networks such as base and identification (Arb). Other layer networks like sui (but) And Solana (TellerShe continued to get her market share in industries such as decentralized financing and games.

The most ladder, the investment funds circulated in Spot Asset this year. This money attracted zero flows on Thursday, seven consecutive days of net flow.

They have now suffered from eight consecutive weeks, which raised the cumulative external flow to $ 2.24 billion, a sign that these funds are not gaining traction among investors.

Additional data shows that some Ethereum investors started surrender by selling their possessions at a confusion. The graph below shows that the network realized that the profit/loss remained red for a while. This scale measures net profit or loss for all metal currencies that have been transferred to Blockchain.

Technical analysis of Ethereum price

The Daily Chart explains that Ethereum is still in a strong, downward direction after its peak at $ 4100 last year. It continues to trade without the averages of the 60 -day and 200 days of movement and less than the main support level at $ 2,140. This support is noticeable because the neck line of the triple style was on the weekly graph.

On the positive side, the ethereum shape is the upper spacing pattern as two Macd lines lasts in height. The relative strength index has also moved a little higher than the descending trend line.

The currency also formed a giant phones, and includes two overlapping and converging trend lines. With these lines approaching rapprochement, there is a possibility of a strong upward outbreak in the short term. If this happens, the next level of viewing will be $ 2440, which is the slightest swing in August and September last year. This target is about 35 % higher than the current level.