Ethereum

Coin

<![CDATA[<img src="https://cimg.co/news/123959/327516/eth.jpg" srcset="https://cimg.co/news/123959/327516/responsive-images/eth___media_library_original_1736_954.jpg 1736w, https://cimg.co/news/123959/327516/responsive-images/eth___media_library_original_1200_659.jpg 1200w, https://cimg.co/news/123959/327516/responsive-images/eth___media_library_original_900_495.jpg 900w, https://cimg.co/news/123959/327516/responsive-images/eth___media_library_original_720_396.jpg 720w, https://cimg.co/news/123959/327516/responsive-images/eth___media_library_original_600_330.jpg 600w, https://cimg.co/news/123959/327516/responsive-images/eth___media_library_original_300_165.jpg 300w" width="1736" class="content-img" alt="">The cryptocurrency market is experiencing waves of volatility, with <a href="https://www.tradingview.com/symbols/ETHUSD/">Ethereum</a> at the forefront of this turbulence.&nbsp;Currently trading at $1,644, Ethereum has seen a 3.72% decline in the last 24 hours, pushing its market cap to approximately $197.67 billion.&nbsp;This bearish movement, reflected in its trading volume of $6.4 billion, raises concerns about the potential for more losses.&nbsp;As Ethereum holds its position at #2 on the <a href="https://coinmarketcap.com/currencies/ethereum/">CoinMarketCap</a> ranking with a circulating supply of 120,215,528 ETH coins, the market anxiously awaits its next move.<h2 id="strong-ethereum-price-prediction-strong">Ethereum Price Prediction&nbsp;</h2><a href="https://cryptonews.com/guides/ethereum/">Ethereum</a>'s valuation struggled to surpass the $1,750 mark, consequently erasing its gains relative to the greenback. A further downward trend might emerge if ETH breaches the $1,630 threshold.&nbsp;Despite attempts, Ethereum could not maintain its footing above $1,700 and subsequently witnessed a significant decline reminiscent of Bitcoin's trajectory.A notable dip occurred beneath the $1,660 marker, with the price momentarily plunging under $1,640. After probing the $1,630 support, it's currently in a phase of loss mitigation.&nbsp;Furthermore, an emerging bearish trend line, with a resistance around $1,690, is discernible on the hourly ETH/USD chart.Subsequent resistances lie around $1,680 and near the trend line at $1,700 - proximate to the 50% Fibonacci retracement of its recent downtrend.&nbsp;<figure class="image"><img src="https://cimg.co/news/123959/327516/eth.jpg" srcset="https://cimg.co/news/123959/327516/responsive-images/eth___media_library_original_1736_954.jpg 1736w, https://cimg.co/news/123959/327516/responsive-images/eth___media_library_original_1200_659.jpg 1200w, https://cimg.co/news/123959/327516/responsive-images/eth___media_library_original_900_495.jpg 900w, https://cimg.co/news/123959/327516/responsive-images/eth___media_library_original_720_396.jpg 720w, https://cimg.co/news/123959/327516/responsive-images/eth___media_library_original_600_330.jpg 600w, https://cimg.co/news/123959/327516/responsive-images/eth___media_library_original_300_165.jpg 300w" width="1736" class="content-img" alt=""><figcaption>Ethereum Price Chart - Source: Tradingview</figcaption></figure>Should Ethereum surpass $1,700, it could potentially approach $1,750.&nbsp;A decisive ascent beyond $1,750 may pave the way for Ethereum to target the $1,800 barrier. Further positive traction could propel it towards the $1,850 mark.Conversely, if Ethereum is unable to transcend the $1,700 barrier, we might observe a continued descent.&nbsp;Immediate support is located around $1,640, with significant supports at $1,630 and $1,600 respectively.&nbsp;A drop below the crucial $1,600 benchmark might amplify the decline to $1,540.&nbsp;Further descent may push Ethereum closer to the $1,480 mark in the foreseeable future.<h2 id="strong-wall-street-memes-the-alternative-coin-worth-considering-strong">Wall Street Memes - The Alternative Coin Worth Considering</h2>Currently, many investors are exploring diverse opportunities within the cryptocurrency realm, and <a href="https://cryptonews.com/news/buy-wall-street-memes.htm">Wall Street Memes</a> has caught their eye. The $WSM presale, representing a meme coin, has stirred considerable excitement among the investment community.Originating from Wall Street Memes, a renowned online community catering to these enthusiasts, this coin is making waves.The crypto project by <a href="https://cryptonews.com/ext/wallstreetmemes/en">Wall Street Memes</a> commenced its presale on May 26, 2023, accessible through their official portal wallstmemes.com.<figure class="image"><img src="https://cimg.co/news/123959/327518/wsm.jpg" srcset="" width="" class="content-img" alt=""></figure>During its initial phase of the thirty-stage rollout, the WSM token was offered at a price of $0.025.The response to the Wall Street Memes presale was overwhelmingly positive, with the first day witnessing a collection exceeding $300,000, eventually amassing a total of $25 million.Currently, the WSM tokens in this presale phase are available for acquisition at $0.0337.Seizing this opportunity could pave the way for potential growth. Dive into the Wall Street Memes investment journey and experience a potentially lucrative venture.<a href="https://cryptonews.com/ext/wallstreetmemes/en">Buy $WSM&nbsp;Here</a>Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
]]>

Ethereum Price Prediction as Bears Push ETH Down to $1,600 Level – More Pain on the Way?

Table of Contents

Cryptonews.com

Other articles published on Sep 1, 2023

ETH Price Drops Under $1,650 On Day of Ethereum Options Expiry

Is Pepe Coin Going to Zero? PEPE Price Plummets 25% in 7 Days as Meme Coin Experts Shift to This ...

Ronaldinho denies ties to dubious 18k crypto pyramid scheme

Justin Sun Tweets: Chinese Court Considers Crypto as Legal Property

Toncoin (TON) Price Swelled by Nearly 25% This Week- May Enter the Top 10 Cryptos Soon

zkPass Pre-alpha Testnet Opens for Public Testing

Join our free newsletter for daily crypto updates!