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Understanding Ethereum (ETH) on March 25th
On March 25th, the cryptocurrency market experienced a significant movement, particularly with Ethereum (ETH) showing notable fluctuations. As you delve into the intricacies of this digital asset, it’s essential to understand the various aspects that influence its price and market dynamics.
Market Analysis
As of March 25th, Ethereum’s price was hovering around $3460, indicating a strong bullish trend. This surge followed a successful trading strategy, as outlined by the “甯佸湀闄㈠＋” team, which recommended a buy-in point at $3300 with a target price of $3450. This strategy resulted in a profit of 150 points.
However, it’s crucial to remain cautious. The “甯佸湀闄㈠＋” team emphasized the importance of risk management, suggesting an empty order build-up point at $3520 with a stop-loss around $3550 to prevent a sudden bullish outbreak.
Technical Analysis
The daily K-line of Ethereum was still within the EMA trend indicator, yet it had not yet broken through the $3520 resistance level. The price was expected to consolidate around $3450 for a while, with attention to the downward correction space.
The MACD indicated continuous accumulation by the main force, with the DIF potentially crossing the 0 weekly line, which is a significant signal to watch. The KDJ formed a golden cross, and the Bollinger Bands showed a horizontal trend, with the K-line still within the downward channel. The upper resistance level was $3675, and the critical support level was $3165.
Expert Insights
Another expert, “瀛愮墮璁哄竵,” analyzed the frequent conversion of Ethereum’s澶氬ご and绌哄ご positions. Since the price dropped below $4000, ETH has been fluctuating between $3300 and $3600. The expert suggested that if ETH does not break through the recent high of $3580, it may fall below $3000, at least temporarily. The short-term strategy was to focus on the $3485-$3525 range for a short position, targeting below $3400.
Bitcoin Analysis
In addition to Ethereum, Bitcoin also experienced a pullback after reaching a new high. However, the pullback was not too deep, and the price has rebounded to approach the Fibonacci 61.8% level, which is around $68800. The expert suggested that it would be more reasonable to maintain a bearish outlook in the short term, with a focus on high positions between $68800 and $68200, targeting $66800.
Blockchain Technology and 3ETH
On October 5th, 2023, an article explored the future of blockchain technology, specifically focusing on 3ETH. 3ETH represents the third version of Ethereum, a platform for building decentralized applications (DApps) and smart contracts. The introduction of 3ETH is expected to bring significant improvements in performance, scalability, and security to Ethereum.
The article highlighted the potential of 3ETH to solve some of the current challenges faced by Ethereum, such as slow transaction speeds and high transaction fees. It also mentioned the potential for more possibilities and innovation for DApps and smart contract developers.
Ethereum Mining Hash Rate
Another article delved into the calculation of Ethereum mining hash rate. Ethereum mining requires calculating the effective hash rate to receive the corresponding rewards. The hash rate refers to the number of hash values calculated by each mining node, or how many hash algorithms a computer can run per second.
The article explained that Ethereum mining hash rate is primarily calculated through algorithmic iteration of hash algorithms. The Ethereum algorithm used is Ethash, which utilizes GPU memory to reduce the advantage of ASICs. This algorithm calculates a hash value with the current last mined block and a series of random numbers using a hash function 50 times. Due to this hard calculation, mining 5 million blocks takes about 4 years.
Ethereum Price History, Influencing Factors, Prediction Methods, and Real-time Query
Ethereum price, or ETH price, refers to the market value of Ethereum’s native cryptocurrency, Ether (Ether, abbreviated as ETH), which is the ratio of one unit of ETH to other currencies or assets. ETH price is an important indicator of the Ethereum blockchain network, reflecting the supply and demand, competitiveness, innovation, and security of Ethereum.
The article provided a historical overview of ETH price, highlighting its significant fluctuations since its launch in July 2015. It discussed the factors influencing ETH price, such as market supply and demand, regulatory policies