Toncoin Faces Resistance at $1.70, Ethereum Reduces Fees Significantly
- Toncoin Short-Term Activity: Toncoin (TON) has shown renewed short-term activity, yet the $1.70 area has acted as a local resistance zone over the past month, indicating potential consolidation as selling pressure appears during multiple attempts to break higher.
- Ethereum Fee Reduction: Ethereum has significantly reduced average gas fees through protocol improvements and Layer-2 adoption, recording approximately 2.6 million transactions on January 17 while maintaining a price near $3,320, reinforcing its status as a mature blockchain rather than a short-term momentum asset.
- ZKP Privacy Computation: ZKP, a privacy-focused Layer-1 blockchain, allocated over $100 million to infrastructure development before its presale phase, utilizing a 450-day Initial Coin Auction model to ensure consistent token distribution across auction windows.
- Infrastructure-Driven Network Outlook: Current market conditions highlight varying stages of development across networks, with Toncoin responding to sentiment, Ethereum reflecting operational maturity, and ZKP representing an infrastructure-focused model centered on privacy and verifiable execution, which may play a crucial role in data protection and computational integrity moving forward.
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Technical Analysis for ETH
Technical Sentiment Analysis for Ethereum (ETH) As of , Ethereum (ETH) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for ETH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, ETH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Ethereum (ETH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 624.833 | 1186.316 | 1705.683 | 2267.166 | 2786.533 | 3348.016 | 3867.383 |
| Fibonacci | 1186.316 | 1599.201 | 1854.282 | 2267.166 | 2680.051 | 2935.132 | 3348.016 |
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