Ethereum

<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/ethereum-primed-for-holesky-launch-though-prices-may-dip-first/">Ethereum Primed for Holesky Launch Though Prices May Dip First</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The Ethereum price chart shows an interesting historical summer pattern that crypto expert Benjamin Cowen has <a href="https://twitter.com/intocryptoverse/status/1694542396451655955" rel="noopener noreferrer nofollow">identified </a>as repeating since 2018. The trend sees ETH rise in an ascending channel marked by short bursts of decline.</p> 
<p>Cowen noted that this pattern emerged again in the summer of 2022 and appears to be materializing this summer as well. If it continues, ETH may see a dip soon before the uptrend resumes. Cowen remains confident the cycle could play out similarly, citing precedent despite some arguing that “this time is different.”</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/ETH?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#ETH</a> <br><br>People tell me this time is different.<br><br>I doubt it <a href="https://t.co/lB3xrLD6AM" rel="noopener noreferrer nofollow">pic.twitter.com/lB3xrLD6AM</a></p>— Benjamin Cowen (@intocryptoverse) <a href="https://twitter.com/intocryptoverse/status/1694542396451655955?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 24, 2023</a> 
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<p>However, certain near-term technical factors point to potential headwinds for Ethereum. Analysts have highlighted a head and shoulders pattern that often precedes declines, with a downside target of around $1,100 if it triggers.</p> 
<p>Additionally, Ethereum’s Bollinger Bandwidth, a measure of volatility, is almost the lowest since 2018. This typically precedes major price movements, but the direction is uncertain.</p> 
<h2 id="ethereum-holesky-to-debut-soon" data-name="ethereum-holesky-to-debut-soon" class="wp-block-heading">Ethereum Holesky to debut soon</h2> 
<p>Nevertheless, Ethereum’s fundamentals remain strong, with the major Holesky testnet launch scheduled for September. With 1.46 million validators, it will be Ethereum’s largest public testnet ever, replacing Goerli.</p> 
<p>While short-term challenges loom over the Ethereum price action, Cowen’s identified summer pattern provides reason for long-term optimism. ETH has overcome bearish signals before resuming uptrends. This time may yet prove to be no different.</p>

Ethereum Primed for Holesky Launch Though Prices May Dip First

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