Ethereum

<ul><li>Ethereum’s current setup mirrors Bitcoin&#39;s 2020 cycle, suggesting potential for substantial future growth.</li><li>BlackRock’s daily $100M ETH purchases and reduced Grayscale selling pressure indicate strong institutional confidence.</li><li>With Ethereum&#39;s 1-week RSI at 47.14 and MACD below the signal line, expect potential volatility and market movement.</li></ul><a href="https://cryptotale.org/breaking-down-ethereums-recent-dip-will-2825-support-hold/" rel="noopener noreferrer nofollow">Ethereum</a> ($ETH) is trading at <a href="https://coinmarketcap.com/currencies/ethereum/" rel="noopener noreferrer nofollow">$2,985.60</a> at press time, facing a challenging market. With a 24-hour trading volume of $21,998,525,787, Ethereum has experienced a decline of 5.26% recently. Despite this downturn, Ethereum&#39;s present setup presents intriguing opportunities for investors, reminiscent of Bitcoin&#39;s 2020 cycle.As per analysis by<a href="https://x.com/CryptoTony__/status/1819639086631534895" rel="noopener noreferrer nofollow"> Crypto Tony</a>, an analyst, Ethereum is in a notable downtrend. After peaking in early May, the price has been on a downward trajectory. This pattern reveals decreasing highs and lows, suggesting persistent bearish momentum.In this volatile period, the price has encountered resistance at several key levels. Notably, the $3,440 mark has acted as a resistance zone, where the price faced multiple rejections in July. Additionally, the $3,600 level has also been a point of contention, reflecting previous peaks and troughs observed from June to July.<a href="https://cryptotale.org/ethereums-downtrend-mirrors-bitcoins-2020-rise-an-analysis/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Ethereum's Downtrend Mirrors Bitcoin's 2020 Rise: An Analysis

CryptoTale

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