The decentralized finance (DeFi) sector is rapidly growing but still faces significant challenges. For example, one of the biggest issues DeFi must address is Impermanent Loss (IL). This is a problem that can have serious consequences for liquidity providers. Today's review will examine how SMARDEX intends to solve the IL problem and end liquidity providers' unjust losses. We'll also look at all the services that SMARDEX offers and examine the project's tokenomics. What Is SMARDEX? SMARDEX is a project intending…
A Look into Ethereum’s Performance this Week
The price of ETH/USD has been struggling for recovery and correction to the upside.
In the previous week, the price went under the support levels at $144 and $142. It continued to the downside under the support level at $140 support, thereby forming a fresh low in the month close to $139.
Later, it was able to retrace to the upside over the hurdle at $142. Nevertheless, there was a capping of the move to the upside by the hurdles between $145 and $146. There was the formation of a high close to $146, and it is now moving towards the downside.
The decline has taken it close to the support zone at $140 and still at a risk of more downsides. A first hurdle is close to $141, and it is close to the 23.6 percent Fib retracement level of the decline recently from the $146 high to $140 low.
A look at the upside on the 4-hour chart of Ethereum against the USD shows several resistances close to $142 and $144. Likewise, a key selling trend line is formed with a hurdle close to $142 on the same chart.
Hence, the pair needs to surge over the hurdle at $142 to have a modest recovery. The major hurdle remains close to $144 and $146. Hence, if it closes over the hurdle at $146, there could be more recovery towards the hurdles at $152 and $155.
A look at the downside shows the first support close to $140. The occurrence of a daily close under $140 could pose the risk of further decline towards $135 and $132 in the coming sessions ahead.