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 <h2 id="eth-price-forming-bullish-weekly-candle">ETH Price Forming Bullish Weekly Candle</h2> 
 <p>Investors counted massive losses during August’s sell-off, with&nbsp;Ethereum falling from higher support at $1,800 to $1,545. The capitulation that saw the liquidation of long positions is expected to be the final one as the crypto winter begins ushering in the bull market.</p>  
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 <p>According to&nbsp;Santiment, an on-chain analytics firm, ETH is being moved at a major loss ratio as traders exhibit their frustrations. What this means is that wallets are “disposing of their coins at lower values” and this suggests a “price bounce” is likely in the short term.</p> 
 <figure id="attachment_158105" aria-describedby="caption-attachment-158105" style="width: 100%" class="wp-caption aligncenter">
  <img decoding="async" class="size-full wp-image-158105" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201006%20547'%3E%3C/svg%3E" alt="Ethereum ratio of on-chain Tx. Volume in profit/loss" width="1006" height="547" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/31/713f04d7e594a43cd4b237373d37316f.webp">
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   <img decoding="async" class="size-full wp-image-158105" src="https://cdn.thebittimes.com/images/2023/08/31/713f04d7e594a43cd4b237373d37316f.webp" alt="Ethereum ratio of on-chain Tx. Volume in profit/loss" width="1006" height="547">
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  <figcaption id="caption-attachment-158105" class="wp-caption-text">
   Ethereum ratio of on-chain Tx. Volume in profit/loss | Santiment
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 <p>As for traders, knowing where and how to position themselves following the sell-off is critical to their readiness for the bull run anticipated in 2024/2025.</p> 
 <p>Since the immediate support at $1,700 might not hold for long if&nbsp;<a rel="dofollow" title="ETH price" href="https://thebittimes.com/tag/eth-price.html">ETH price</a> delays the upswing above $1,800, those seeking exposure to new long positions in Ethereum may want to consider the confluence support created roughly at $1,630 by the 200-day Exponential Moving Average (EMA) and the ascending trendline.</p>  
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 <figure id="attachment_158104" aria-describedby="caption-attachment-158104" style="width: 100%" class="wp-caption aligncenter">
  <img decoding="async" class="size-full wp-image-158104" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201233%20560'%3E%3C/svg%3E" alt="ETH price chart" width="1233" height="560" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/31/5c62bfa860472fd2088a3ec9498645b7.webp">
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   ETH/USD weekly chart | Tradingview
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 <p>Another buy signal from the Supertrend indicator as observed on the chart, shows that bulls have control.</p> 
 <p>The Supertrend indicator is a tool for crypto traders to spot trends and signals. It uses the ATR and volatility to change color and direction. Green means buy Ethereum, and red means sell. The indicator line also acts as a stop loss level.</p>  
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 <p>With the Supertrend trailing <a rel="dofollow" title="ETH price" href="https://thebittimes.com/tag/eth-price.html">ETH price</a> and the confluence support at $1,630, the path with the least resistance is bound to the upside.</p> 
 <p>Investors should adopt strategies that allow them to change tactics, considering the Money Flow Index (MFI) direction below the midline in the neutral zone and toward the oversold region.</p> 
 <p>This indicator measures the amount of volume flowing into and out of&nbsp;Ethereum markets. When it is dropping consistently, it sends a bearish signal but assures of an uptrend when it is rising toward the overbought region above 80.</p> 
 <h2 id="eth-price-could-soar-with-etf-futures-approval">ETH Price Could Soar with ETF Futures Approval</h2> 
 <p>The US Securities and Exchange Commission (SEC) may approve the first Ethereum ETF futures in September according to sources cited in a&nbsp;Cointelegraph article. Some of the companies whose ETF proposals are likely to get the greenlight include ProShares, Volatility Shares, Bitwise, and Roundhill.</p> 
 <p>Although ETF futures are not the coveted spot ETFs expected for Bitcoin, they show that the agency is getting comfortable with other crypto products. Eric Balchunas, an ETF analyst said that “it indicates that their views/policy/tolerance can change.”</p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">This not surprising to us, we had said they would approve Ether Futures early on in race. Nice to be validated. Now what does it mean for spot? Hard to say beyond it shows that their views/policy/tolerance can change. https://t.co/JXCxNUpj2U</p> 
  <p>— Eric Balchunas (@EricBalchunas) August 17, 2023</p>
 </blockquote> 
 <p></p> 
 <p>Moreover, the approvals will serve as a market-changing event for Ethereum and possibly provide the liquidity for gains above $2,000 – a move that <a rel="dofollow" title="ETH price" href="https://thebittimes.com/tag/eth-price.html">ETH price</a> requires to mark its bullish comeback.</p> 
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  <li>BTC Price Defends $27k As The Sell-Off Ends, Start Of Bull Run?</li> 
  <li>Bitcoin to Take Centre Stage In US Presidential Elections After Grayscale Victory</li> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/eth-price-on-the-cusp-of-a-bullish-comeback-tbt61044.html">https://thebittimes.com/eth-price-on-the-cusp-of-a-bullish-comeback-tbt61044.html</a></p>

ETH Price On The Cusp Of A Bullish Comeback

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