Ethereum

<ul> 
 <li><strong>Vitalik Buterin transferred a significant amount of ETH to Coinbase.</strong></li> 
 <li><strong>The price of ETH is trading at $1670 and is down 0.47% in the last 24 hours.</strong></li> 
</ul> 
<p>During the recent bloodbath, almost all cryptocurrencies including <a href="https://thenewscrypto.com/ethereum-eth-price-prediction" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> (ETH) performed terribly. However, declining trade volumes of ETH over the weekend indicate a temporary lull in the selling frenzy.&nbsp;</p> 
<p>On the other hand, a well-known crypto analyst with the Twitter handle Ali_Charts, predicts a rather muted price trend for Ethereum over the next several months. According to the analyst, the price of Ethereum might continue to fall, perhaps testing last year’s lows.</p> 
<h3 class="wp-block-heading" id="h-consolidation-phase">Consolidation Phase</h3> 
<p>The expert warns that a 37% to 45% correction might occur in the Ethereum price if it drops below the key zone of $1,600 to $1,550 in the near future. Therefore, the expert anticipates that Ethereum will eventually reach a price of about $1,000.</p> 
<p>At the time of writing, the price of ETH is trading at $1,670 and is down 0.47% in the last 24 hours as per data from CMC. The falling price found support around the $1600 mark and briefly recovered. It is now consolidating around the $1650 range, waiting for the next big move.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full"> 
  <img decoding="async" width="661" height="356" src="https://thenewscrypto.com/wp-content/uploads/2023/08/ETH_7D_graph_coinmarketcap.png" alt="" class="wp-image-80991" srcset="https://thenewscrypto.com/wp-content/uploads/2023/08/ETH_7D_graph_coinmarketcap.png 661w, https://thenewscrypto.com/wp-content/uploads/2023/08/ETH_7D_graph_coinmarketcap-300x162.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/08/ETH_7D_graph_coinmarketcap-150x81.png 150w" sizes="(max-width: 661px) 100vw, 661px"> 
  <figcaption class="wp-element-caption">
    Source: <a href="http://CoinMarketCap.com" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The price needs to clearly break out over the $1727 mark if it wants to start a fresh rally. However, if it breaks the recent support level of $1676 then it can go all way to the $1438 level.</p> 
<p>On the other hand, adding salt to the wound was a recent update that the co-founder of Ethereum <a href="https://thenewscrypto.com/altcoin-news-vitalik-buterin-explores-worldcoins-identity-verification-system/" target="_blank" rel="noopener noreferrer nofollow">Vitalik Buterin</a> sold a significant amount of ETH. PeckShieldAlert reports that on August 21 a wallet address associated with Vitalik Buterin sent 600 ETH, worth roughly $1 million, to Coinbase. There has been no explanation for the latest move, although some have speculated that it was part of yet another large selloff.</p>

Ethereum (ETH) Price Eyes Big Move; Further Decline?

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