Ethereum

Channels

Read

<div class="coingape"> 
 <p>Popular crypto analyst Ali Martinez writes: “<span class="css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0">Slipping beneath the $1,600 – $1,550 bracket for </span><span class="r-18u37iz">$ETH</span><span class="css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0"> might set the stage for a significant 37% – 45% correction, targeting $1,000″.</span></p>  
 <div class="quads-location quads-ad90952 " id="quads-ad90952" style="float:none;text-align:center;padding:0px 0 0px 0;"> 
  <div class="ad1"> 
   <div class="advertised"> <span class="ad-placeholder">advertisement</span> 
   </div> 
  </div>  
 </div> 
 <figure id="attachment_157216" aria-describedby="caption-attachment-157216" style="width: 100%" class="wp-caption aligncenter"> 
  <img decoding="async" class="size-full wp-image-157216" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%202169%201579'%3E%3C/svg%3E" alt="" width="2169" height="1579" data-lazy-src="https://cdn.coingape.com/wp-content/uploads/2023/08/21120636/Ethereum-ETH-Chart.jpeg"> 
  <noscript> 
   <img decoding="async" class="size-full wp-image-157216" src="https://cdn.coingape.com/wp-content/uploads/2023/08/21120636/Ethereum-ETH-Chart.jpeg" alt="" width="2169" height="1579"> 
  </noscript> 
  <figcaption id="caption-attachment-157216" class="wp-caption-text">
    Courtesy: Ali charts 
  </figcaption> 
 </figure> 
 <p>The Ethereum network fundamentals are showing signs of lagging, indicating a bearish trend. The monthly average of active Ethereum ($ETH) addresses is below the annual average, suggesting limited on-chain activity. This is a common indicator of diminished network health and utilization.</p> 
 <figure id="attachment_157218" aria-describedby="caption-attachment-157218" style="width: 100%" class="wp-caption aligncenter"> 
  <img decoding="async" class="size-full wp-image-157218" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201199%20675'%3E%3C/svg%3E" alt="" width="1199" height="675" data-lazy-src="https://cdn.coingape.com/wp-content/uploads/2023/08/21120835/Ethereum-Active-Addresses.jpeg"> 
  <noscript> 
   <img decoding="async" class="size-full wp-image-157218" src="https://cdn.coingape.com/wp-content/uploads/2023/08/21120835/Ethereum-Active-Addresses.jpeg" alt="" width="1199" height="675"> 
  </noscript> 
  <figcaption id="caption-attachment-157218" class="wp-caption-text">
    Courtesy: Ali charts 
  </figcaption> 
 </figure> 
 <h3 id="will-ethereum-futures-etf-save-from-the-possible-collapse">Will Ethereum Futures ETF Save from the Possible Collapse?</h3> 
 <p>After Thursday’s price crash last week, the ETH price saw a partial recovery as reports emerged that the U.S. Securities and Exchange Commission would greenlight the Ethereum futures ETF. The Volatility Shares Ether futures ETF are likely to go live by October 12 as per the current schedule.</p>  
 <div class="quads-location quads-ad124348 " id="quads-ad124348" style="float:none;text-align:center;padding:0px 0 0px 0;">   
 </div> 
 <p>But despite the optimistic Bloomberg report, on-chain data indicates that Ethereum whales have not embraced the bullish sentiment. In fact, they have continued to offload their holdings, even following a modest price recovery observed on Friday after a significant sell-off.</p>  
 <div class="quads-location quads-ad148831 " id="quads-ad148831" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div class="NewTrendin dsdsd m-on"> 
   <h5> 
    <svg class="inline-block w-5 ml-1 text-black _text-digg-blue" width="34" height="20" xmlns="//www.w3.org/2000/svg" viewbox="0 0 17 17" fill="currentColor"> <path fill-rule="evenodd" d="M12 7a1 1 0 110-2h5a1 1 0 011 1v5a1 1 0 11-2 0V8.414l-4.293 4.293a1 1 0 01-1.414 0L8 10.414l-4.293 4.293a1 1 0 01-1.414-1.414l5-5a1 1 0 011.414 0L11 10.586 14.586 7H12z" clip-rule="evenodd"></path> 
    </svg>Recommended Articles </h5> 
   <div class="TrendSList owl-carousel owl-relatedpostar"> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.coingape.com/wp-content/uploads/2023/02/15173931/top-presale-project.jpg"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.coingape.com/wp-content/uploads/2023/02/15173931/top-presale-project.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4"> Crypto Presale Projects For 2023 To Invest; Updated List </h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="crypto exchange affiliate programs" decoding="async" data-lazy-src="https://cdn.coingape.com/wp-content/uploads/2023/08/09180645/trading-bots.jpg"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.coingape.com/wp-content/uploads/2023/08/09180645/trading-bots.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="crypto exchange affiliate programs" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Best Crypto Trading Bots List 2023</h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.coingape.com/wp-content/uploads/2022/12/15175104/top_crypto_marketing_agencies.jpg"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.coingape.com/wp-content/uploads/2022/12/15175104/top_crypto_marketing_agencies.jpg" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4"> Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated] </h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.coingape.com/wp-content/uploads/2023/05/15175814/crypto_telegram_channel.jpg"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.coingape.com/wp-content/uploads/2023/05/15175814/crypto_telegram_channel.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Crypto Telegram Channels List 2023 [Updated]</h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.coingape.com/wp-content/uploads/2022/12/23134356/jpg_20221223_134223_0000.jpg"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.coingape.com/wp-content/uploads/2022/12/23134356/jpg_20221223_134223_0000.jpg" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Top 10 Web3 Games To Explore In 2023; Here List</h6> <span>Must Read</span> 
    </div> 
   </div> 
  </div> 
 </div> 
 <p>As illustrated below, the group of Ethereum whales possessing 10,000 to 100,000 coins has been consistently selling on the market since mid-July. Clearly, during the period from July 14 to August 18, they reduced their ETH holdings by 1.12 million coins. Notably, this reduction in whale holdings by 4% aligns with the 18% decrease in ETH price during the same timeframe from July 14 to August 18.</p> 
 <p>It’s difficult to say whether the tides would turn in favor of Ethereum investors anytime soon. However, the arrival of Ethereum Futures ETF could certainly lead to growing institutional participation in the long term.</p> 
 <p>For now, it will be interesting to see if ETH manages to sustain above $1,600 levels.</p> 
</div>

ETH Price Can See 45% Correction if Ethereum Falls Under This

Table of Contents

TheBitTimes

Other articles published on Aug 21, 2023

Prime Trust Files for Chapter 11 Bankruptcy

FTX Amends Settlement Offer Following U.S. Trustee’s Concern

Binance token BNB on the edge of oblivion

FriendTech, a Social Dapp Generates $1.42M in Fees and $709k in Revenue within 24 Hours

Lbank’s launch pad ‘PINs Network’ IEO restarts in 2023

Visa Trial Ethereum Gas Payments via Cards, ETH Price Reacts Pomerdoge Receives Mass Appeal As Pr...

Join our free newsletter for daily crypto updates!