Ethereum (ETH) plunged 3.8% on Thursday following a hike in US inflation data and rejection near its 50-day Simple Moving Average (SMA).
Ethereum Price Today: $2,350 Ethereum price breached the $2,395 level following the US CPI data release. Ethereum ETFs recorded zero flows for the second time this week as bearish sentiment prevails in the market. However, the total amount of staked ETH reaching 34.78 million indicates long-term bullish bias among investors. Ethereum plunged 3.8% on Thursday following a hike in US inflation data and rejection near its 50-day Simple Moving Average .
ETH/USDT 4-hour chart The Relative Strength Index is trending toward its oversold region below 30, while the Stochastic Oscillator is in oversold condition. This indicates a potential correction, and a bounce off the $2,310 level could be in the cards. A daily candlestick close below the $2,200 psychological level will invalidate the thesis. Ethereum FAQs What is Ethereum? Ethereum is a decentralized open-source blockchain with smart contracts functionality.
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