Ethereum may finally have some good news for investors, but ETH may not be

Ethereum [ETH]Which was the second largest Proof of Work network, and switched to Proof of Stake due to Ethereum is being integrated. This led to ETH 2.0A proof-of-stake network, where dealers took the place of miners to validate network transactions.

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Here AMBCryptos Ethereum Price Prediction [ETH] For 2022-23

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Data from intelligence platform Glassnode showed that the total amount of ETH fortified has exceeded 14 million ETH, showing a steady increase in both bets and value.

Source: Glassnode

But how has the value of these efforts changed over time?

Revenue looks good

info from Rewards It shows that in the last 30 days, more validators have entered the Ethereum network. With an increase of over 3% year-to-date, the total number of validators in the last 30 days is 444,282.

Betting winnings stats for the last 30 days revealed a slight but noticeable increase in winnings. At the time of writing, it is worth over $900 million. Revenues Back To calm down for the past seven days. This indicates that the network stakeholder growth has somewhat stalled.

Source: StakingRewards

Alongside stakeholder revenue, the headline metric owned offering has also evolved upwards. It has been observed that more than 30 million are owned by the hottest titles at the time of writing. Thus, the upward trend that was observed that started in September continues.

This was a sign of the accumulation of the most important titles. In addition, there have been more than 452,000 active addresses every day and more than 7.5 million active addresses in the past 30 days.

Source: feeling

ETH doesn’t stand that high after all

In addition to the previously mentioned information, ETH price was found to be moving downwards over a 12-hour period. Although the price appeared to have closed in the green for the past couple of days, it was not enough to trigger an uptrend in the price of ETH.

During the 12-hour period, the 50 moving average, shown by the yellow line, and the 200 moving average, shown by the blue line, are seen above the asset’s price action. This was a sign of slow price action.

In addition, it was clear that ETH was facing resistance from the yellow and blue lines. This was a possible violation of the yellow line that was imminent.

Source: TradingView

According to the support line chart, the current support range for ETH is between $1,267 and $1,191. In addition to the one created by the yellow and blue lines, the resistance level also appeared between $1,300 and $1,400.

A break above the yellow line could signal the beginning of a positive price trend for ETH. This could cause it to clump After resistance and maybe Test the $1700 area again. The value of the dividend, which was already on the rise, is also expected to rise with the price of ETH.

The constant influx of stakeholders has been an indication of the rising confidence and stability of the network, and this alone could have a beneficial effect on the price of ETH.

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