Ethereum

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 <p>Based on the prevailing technical picture, bears have the upper hand, especially with&nbsp;<a rel="noopener noreferrer nofollow" title="Ethereum price" href="https://thebittimes.com/tag/ethereum-price.html">Ethereum price</a>&nbsp;below all the major moving averages such as the 50-day EMA (red), the 100-day EMA (blue), and the 200-day EMA (purple).</p>  
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 <p>Support at $1,830 is critical for the resumption of the uptrend, but if declines intensify, the buyer congestion at $1,800 will come in handy.</p> 
 <h2 id="ethereum-price-final-capitulation">Ethereum Price Final Capitulation</h2> 
 <p>The crypto winter has lasted well over two years with attribute to many attacks on the blockchain ecosystem, including the Terra crash “through which governments are stepping in with a regulatory framework… to protect investors,”&nbsp;Michaël van de Poppe, a popular analyst told investors on Friday.</p> 
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  <p>I’ve seen many people suggesting that we’ll see Bitcoin drop to $12,000 and altcoins to have another capitulation. I don’t think we’ll have that and in this post I’ll explain why. 👇</p> 
  <p>Altcoin investors are slowly losing… pic.twitter.com/eP6pR14Zr5</p> 
  <p>— Michaël van de Poppe (@CryptoMichNL) August 3, 2023</p> 
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 <p></p> 
 <p>This push to regulate the market, although understandable, is exerting a lot of pressure to the extent of risking the survival of the crypto ecosystem.</p> 
 <p>In addition to the recently resolved matter between Ripple and the SEC, the regulator is suing Coinbase and Binance, and&nbsp;the DoJ has been investigating the latter exchange platform. In all this, proposals for&nbsp;Ethereum and Bitcoin exchange-traded funds (ETFs)&nbsp;have surged in the past couple of months, bringing institutions like Blackrock and Valkyrie into the industry.</p> 
 <p>Ethereum and most other altcoins, according to Poppe, “have been trending downwards for 18-24 months straight.</p>  
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 <p>However, one notable fundamental factor is that the supply on exchange continues to shrink to the lowest levels while staking both on the Ethereum protocol and liquid staking platforms like Lido soar to the highest levels since the&nbsp;implementation of the Shanghai upgrade.</p> 
 <p>The mundane market structure represents “the second stage of capitulation, which is time.” Investors will continue to feel like markets are unresponsive, with some shunning crypto for other industry sectors.</p> 
 <p>As for investors, perhaps excluding traders, it is wise to keep calm and be patient with the market. Accumulation, according to Poppe the best strategy at the moment, with institutions like Blackrock jumping in.</p> 
 <h2 id="what-s-next-for-ethereum-price-in-the-short-term">What’s Next for Ethereum Price in The Short Term?</h2> 
 <p>The bearish outlook in both the Moving Average Convergence Divergence (MACD) and the Money Flow Index (MFI) hints at declines continuing to $1,800 in the short term. In addition to the sell signal, the MACD holds below the mean line (0.00), further reinforcing the bearish grip.</p> 
 <figure id="attachment_155901" aria-describedby="caption-attachment-155901" style="width: 100%" class="wp-caption aligncenter"> 
  <img decoding="async" class="size-full wp-image-155901" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201144%20614'%3E%3C/svg%3E" alt="ETH/USD daily chart with Ethereum price at $1,830" width="1144" height="614" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/04/c7dd08df2d0565a9586289c0200e5c68.webp"> 
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    ETH/USD daily chart | Tradingview 
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 <p>If bulls manage the arrest the bearish situation at $1,830 traders can prepare to seek fresh exposure to ETH longs after the price steps above the 100-day EMA. The subsequent break above the 50-day EMA at $1,866 would serve as confirmation for a stronger uptrend to be validated by recovery past the descending trendline for gains above $2,000.</p> 
 <h3 id="related-articles">Related Articles</h3> 
 <ul> 
  <li>Bitcoin Price Calm Before The Storm: Selling Now to Buy Later?</li> 
  <li>Crypto News: Coinbase ($COIN) Posts Better-Than-Expected Q2 Results</li> 
  <li>Strong Boost In Bitcoin Address Activity Hints At Short-Term BTC Price Jump</li> 
 </ul> 
 <p>&nbsp;</p> 
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Ethereum Price Doldrums: How to Survive Second Stage Capitulation

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