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| ETH/IDR | SOL/IDR |
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| USDT/IDR | ARB/IDR |
Bittime - Ethereum (ETH) is a key player in the crypto market, showing great price dynamics, trading around $3,500. This price increase was caused by several factors, including the interest of institutional investors and the crypto transition to a proof-of-stake mechanism.
Institutions are increasingly allocating a portion of their portfolios to Ethereum, making it the largest institutional crypto asset. Additionally, the transition to proof-of-stake has led to a decrease in the amount of Ether locked, with the record low of ETH held on exchanges being 11%.
Ethereum (ETH) Technical Analysis
From a technical perspective, Ethereum (ETH) is currently trading between the support level at $3,295 and the resistance level at $3,533. The Relative Strength Index (RSI) is above 70, indicating that the market may be overbought and could soon experience a decline, indicating a potential trendnbearish.
The 10-day Exponential Moving Average (EMA) is at $3,492, while the 100-day EMA is at $3,411, highlighting the previous bullish trend in the short-term. However, a high RSI can signal an impending reversal.
Ethereum (ETH) Price Forecast
Moving forward, various scenarios may unfold for the coin. If Ethereum (ETH) breaks the resistance level at $3,533, then it could target the next resistance levels at $3,600 and $3,700.
However, if Ethereum (ETH) fails to maintain the current level and falls below the support level at $3,295, then it could test further support levels at $3,100 and $3,000.
Also Read How to Buy Crypto:
ETH/IDR Price Today on Bittime
Source: Bittime.com
On March 5, 2024, the price of Ethereum (ETH) was at IDR 58,432,786 per coin, up 6.68% in 24 hours, 6.20% in the last week and 15% in the last 30 days.
Solana Network (SOL) Outages Amid Unprecedented Surge
Solana (SOL) is in the spotlight due to its steadily increasing price outlook, with a predicted 75% increase in March. This optimistic estimate is based on the growing adoption of Solana (SOL) in decentralized finance (DeFi) and its reputation for speed and security.
However, the network has experienced problems, including recent outages that have raised concerns among investors and users.
Solana (SOL) Technical Analysis
Technical indicators for Solana (SOL) are fluctuating between the support level at $106 and the resistance level at $137. RSI is at 60, indicating neutral market conditions, neither overbought nor oversold. The Stochastic Oscillator is particularly high, with the %K line at 82.74 and the %D signal line at 62.33, hinting at potential overbought conditions that could lead to a price correction. The 10-day EMA is at $130, slightly above the 100-day EMA at $127, indicating bullish sentiment in the short term.
Solana (SOL) Price Forecast
In a bullish scenario, if Solana (SOL) overcomes the current resistance at $137, then it can aim for higher resistance levels at $150 and $160.
Conversely, in a bearish scenario, if Solana (SOL) is unable to maintain the current momentum and falls below the $106 support level, then it could test further support levels at $95 and $90.
Today's SOL/IDR Price on Bittime
Source: Bittime.com
On March 05, 2024, the price of Solana (SOL) was at IDR 2,073,277 per coin, up 2.02% in 24 hours, 27% in the last week and 17% in the last 30 days.
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Conclusion
Both Ethereum (ETH) and Solana (SOL) show significant potential. Ethereum (ETH)'s transition to a proof-of-stake mechanism and reduction in locked Ether volumes are key changes that could impact its price dynamics and attractiveness for institutional investors in the near future.
Likewise, the price outlook for Solana (SOL) is promising, although the recent network outage raises some concerns. Undoubtedly, market sentiment for these two cryptocurrencies will depend on the success of the technology implemented.
How to Buy Ethereum (ETH) on Bittime
You can buy and sell Ethereum (ETH) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Ethereum (ETH) is available on Bittime with the market pair ETH/IDR . To be able to buy ETH/IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Ethereum (ETH) on Bittime.
Monitor price chart movements for Ethereum (ETH) , Bitcoin (BTC) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
Ethereum Price Skyrockets After US Purchase on Coinbase, Buy ETH Now?
Ethereum Price Moves Towards $4,000: Will ETH/IDR Set a New Record?
DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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