➡️ Cryptocurrency prices currently have limited growth potential, as the share of stablecoins in relation to the total cryptocurrency market is falling: instead of 10%, it is already 7%, Business Insider announced this.
Stablecoins are seen as cash that can be used to buy cryptocurrencies. The bank noted the recent rally in bitcoin and Ethereum , which began in early March.
As JPMorgan explained: “Sanctions against Russia have raised expectations that cryptocurrencies will be used more widely in the future to bypass the traditional banking system, given that they are not tied to or dependent on any government.” But now, according to the bank, the cryptocurrency rally has probably fizzled out, and we are seeing its end as stablecoins are rapidly declining their share of the crypto market.
Technically, the coin is trading at the resistance level of 3487.85 and is unlikely to be overcome by buyers. Near this level, a small balance was formed in order to go down. In addition, a larger balance is being formed with the boundaries of ~3273.50 - 3487.85. This suggests a fall towards, 3273.50.
🔥Ethereum Forecast Results🔥
☑️ETHUSD: upward impulse 👉 +167 points✅:
➖➖➖➖➖➖➖
👍Thanks for your comments and likes👍
👇🔥LINKS TO PREVIOUS IDEAS AND FORECASTS🔥👇
Stablecoins are seen as cash that can be used to buy cryptocurrencies. The bank noted the recent rally in bitcoin and Ethereum , which began in early March.
As JPMorgan explained: “Sanctions against Russia have raised expectations that cryptocurrencies will be used more widely in the future to bypass the traditional banking system, given that they are not tied to or dependent on any government.” But now, according to the bank, the cryptocurrency rally has probably fizzled out, and we are seeing its end as stablecoins are rapidly declining their share of the crypto market.
Technically, the coin is trading at the resistance level of 3487.85 and is unlikely to be overcome by buyers. Near this level, a small balance was formed in order to go down. In addition, a larger balance is being formed with the boundaries of ~3273.50 - 3487.85. This suggests a fall towards, 3273.50.
🔥Ethereum Forecast Results🔥
☑️ETHUSD: upward impulse 👉 +167 points✅:
➖➖➖➖➖➖➖
👍Thanks for your comments and likes👍
👇🔥LINKS TO PREVIOUS IDEAS AND FORECASTS🔥👇
