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via Cointelegraph · By Cointelegraph Staff

Tom Lee Says Oil Prices Are Ethereum’s Biggest Headwind

ETH

ETH/USDT

$1,644.18

-1.28%

$1,644.18

-1.28%

(24s)

24h Volume

$15,711,126,281.86

24h H/L

$1,693.67 / $1,552.95

Change: $140.72 (9.06%)

Long/Short

73.1%

Long: 73.1%Short: 26.9%

Funding Rate

+0.0035%

Longs pay

Data provided by COINOTAG DATALive data

Ethereum

Daily

$1,648.62

▲ 1.63%

Volume (24h): -

Resistance Levels

Resistance 3$1,985.30

Resistance 2$1,872.11

Resistance 1$1,691.07

Price$1,648.62

Support 1$1,622.10

Support 2$1,569.19

Support 3$1,505.68

Pivot (PP):$1,641.28

Trend:Downtrend

RSI (14):37.3

Cointelegraph Staff

(07:02 AM UTC)

1 min read

Approved byMichael Roberts

620 views

0 comments

Rising oil prices since the US-Israeli war have been a consistent weight on the price of Ether for the last three months, according to Fundstrat co-founder Tom Lee.

“If one is wondering why Ethereum has been under selling pressure … to me, rising oil prices is the biggest headwind,” Lee said on X on Monday.

Lee said the inverse correlation between Ether prices and oil is at a record high.…

COINOTAG does not provide financial advisory services. This content is for informational purposes only and should not be considered investment advice. Cryptocurrency investments involve high risk.

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Cointelegraph Staff · Cointelegraph

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