This overview examines the current trends in the Ethereum and Avalanche markets, as well as upcoming events related to the BlockDAG project.
Current Situation in the Ethereum (ETH) Market
The Ethereum (ETH) market is back in focus as the price hovers around $3,600–$3,650 after a slight pullback from the $3,700 high.
Overall momentum remains bullish with ETH trading just above its 20-day EMA, and the $3,550–$3,580 zone acting as short-term support. Analysts are closely watching this level; a close below could see the next demand zone around $3,400. Conversely, if the market respects current support and pushes higher, it could quickly retest $3,800.
Comments on Avalanche (AVAX) Price Movement
Avalanche (AVAX) has maintained a stable price range, bouncing between $29.50 and $31 in recent days. This stability follows a minor pullback from the recent surge to $31.90.
Despite a slowdown in upward momentum, AVAX is trading above its 20-day EMA and securely holding support near $28. Analysts view this consolidation as a healthy pause that could lead to a push towards the $33–$35 zone if Bitcoin trends upward.
Development of BlockDAG and its Significance
The BlockDAG project is undergoing significant changes with $315 million already raised in its early phases. The announced plan includes the launch of new miners and market promotion.
Specifically, the shipping of X30 and X100 miners is scheduled for July 7. Earlier, the project announced interest from 20 exchanges for listing. In its strategy, BlockDAG is not only offering tokens but also building an ecosystem through mobile mining apps, which may significantly impact its market position.
The Ethereum market shows strong support, while AVAX prepares for potential growth. Critical events include BlockDAG's plans for hardware solutions and new investment acquisition.
