Ethereum ( ETH), consecutive negative network activities in recent days and bitcoinWith the effect of its decline, it returned to the point of one and a half months ago.
Nowadays, when the crypto money market is losing blood, Ethereum On the other hand, it seems that things are not going well. The memecoin rush that started with Pepe has benefited Ethereum network activities a lot. However, in recent times EthereumThe negativities experienced in Turkey were also reflected on the price side.
ETH, also falling below the price point on March 29, $1,750 decreased to its level. The downward trend continues to affect the fate of Pepe in particular.
What’s Happening in Ethereum (ETH)?
Yesterday evening, Ethereum ( ETH ) network appeared to be down for 25 minutes. Ethereum mainnet transactions could not be fully confirmed during this time. BlockchainLooking at the data, During these 25 minutes, it was seen that block production continued, but there were problems in the approval process.
Aware of the negative effects of this situation on Ethereum, the developers quickly reacted. Ethereum developers stated that they are investigating what caused the problem and will provide a solution.
The money outflows experienced by Pepe, which emerged in the Ethereum network, are also Ethereumaffected the network. memecoin At the time when the ‘s became a buzz, the Ethereum network was the most actively used blockchain. However, network activity has been trending downwards lately.
In addition, the fact that MEV bots earn millions of dollars on the Ethereum network and that they are in continuous transactions were among the topics discussed. The Ethereum network faced high transaction fees, leading investors to walk away.
In the middle of all these processes, Vitalic ButerineIt was also noteworthy that . lookonchain The data revealed by ‘s attracted great attention from thousands of users. Also, the crypto market of bitcoin continues to accompany its strong decline. It was seen that the fall of Bitcoin was followed by Ethereum.
It is noteworthy that Ethereum’s network activities and ETH’s decline towards its prices in March. The popular cryptocurrency has started to descend to support levels. If ETH continues its downtrend, there is a support zone in front of it at $1,705. If this support is also lost, the decline can be realized as low as $ 1,660. Finally, breaking this support can pull the ETH price up to $ 1.514.
If ETH turns bullish, the $1,845 level stands out as a strong resistance. Breaking this point could push the ETH price up to $1,900.
All these processes may differ according to the state of the market and the processes experienced by Bitcoin. Potentially, the crypto market contains many risks.
