- A blockchain event has made Ethereum trending in Vietnam
- ETH prices are trying to mount a recovery rally.
PATNA (CoinChapter.com) — A blockchain event in Vietnam helped Ethereum trend in Google searches in Vietnam, with the most common search strings being giá eth (ETH price), and giá eth hôm nay (ETH price today).
The ETH Vietnam was a blockchain event series that invited several global blockchain and cryptocurrency entities. The team behind the event stated that the goal was to establish Vietnam as “a thriving hub of Ethereum and blockchain innovation.“
Furthermore, the ETH Vietnam event would bring together nearly 3,000 builders, developers, and blockchain enthusiasts.
The event would focus on zero-knowledge proofs, account abstraction and wallet creation, on-chain gaming, and non-financial use cases for Ethereum. ETH Vietnam would also include a hackathon event for Ethereum.
Vietnam ranked first globally in crypto adoption in 2022, per Chainalysis’s “Geography Of Cryptocurrency” report 2022. The country held on to the top spot for the second year running. Chainalysis stated that “population-adjusted adoption across centralized, DeFi, and P2P cryptocurrency tools” was extremely high.
As a result of the hype around the event, giá eth (ETH price), and giá eth hôm nay (ETH price today) started trending on Google.
ETH Recovers Fed Announcement Pushed Prices Down
Meanwhile, ETH price recovered toward the end of the day on June 15, after the prime altcoin had dropped over 3% during trading earlier. The Ethereum token price was reacting to the June 14 news of the Federal Reserve considering two more rate hikes in 2023.
However, the gains remained quite muted. For example, ETH price today (giá eth hôm nay) rose by a measly 0.1% to form an intraday high near $1,675.
The token’s price action suggests bearish pressure against the token remained strong. Moreover, the death cross between the 20-day EMA (red wave) and 100-day EMA (blue wave) adds to the bearish cues against ETH prices.
Thus, ETH price uptrend faces the possibility of faltering and dropping to support near $1,634. Moreover, breaching below the immediate support level might result in ETH price (giá eth) testing the support near $1,565 before recovering.
Conversely, bulls would need to flip the token’s 200-day EMA (green wave) resistance near $1,720 to instill some confidence in the rally.
Furthermore, breaking and consolidating above the immediate resistance level could result in ETH price targeting the 20-day EMA and 100-day EMA resistance confluence near $1,790 before downside corrections pare gains.
The relative strength index for ETH remained neutral, with a value of 33.25 on the daily chart.
The post Vietnam Goes “Giá ETH” (ETH Price) As Event Helps Ethereum Trend On Google appeared first on CoinChapter.