Ethereum

2024

when

Time

<ul>
 <li aria-level="1">Ethereum’s network metrics, such as active addresses and transaction volumes, show significant growth over the last 30 days.</li>
 <li aria-level="1">Technical analysis predicts Ethereum could reach new highs by Q3 2024 if current price levels below $2,300 are maintained.</li>
</ul>
Recent data indicates an uptick in Ethereum wallet activities, despite prevailing fears in the cryptocurrency market. Market analysts highlight this trend as potentially indicative of a bullish phase for Ethereum (ETH).
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 “Be greedy when others are fearful” <a href="https://t.co/HKvrL5pobW" rel="noopener noreferrer nofollow">pic.twitter.com/HKvrL5pobW</a>
 — Quinten | 048.eth (@QuintenFrancois) <a href="https://twitter.com/QuintenFrancois/status/1820500699517755891?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 5, 2024</a>
</blockquote>
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Market analyst, in a <a href="https://x.com/QuintenFrancois/status/1820500699517755891" rel="noopener noreferrer nofollow">recent post on X</a>, pointed out that current market fear might be a suitable time for buying cryptocurrencies.
<figure id="attachment_85727" aria-describedby="caption-attachment-85727" style="width: 100%" class="wp-caption aligncenter"><img fetchpriority="high" decoding="async" class="size-full wp-image-85727" src="https://www.ethnews.com/wp-content/uploads/2024/08/LENNOX-GLASSNODE.png" alt="" width="1062" height="580">
 <figcaption id="caption-attachment-85727" class="wp-caption-text">
 Source: Glassnode
 </figcaption>
</figure>
 Glassnode data supports this view, showing that similar periods of market fear have historically led to substantial price rallies for various cryptocurrencies.
Amid concerns of a global recession and potential geopolitical conflicts, Ethereum’s network metrics show signs of growth. <a href="https://www.ethnews.com/is-solana-to-blame-for-ethereums-massive-price-drop/" rel="noopener noreferrer nofollow">According to ETHNews</a> analytics provided by Santiment, there has been a noticeable increase in Ethereum’s network activities.
<figure id="attachment_85731" aria-describedby="caption-attachment-85731" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-85731" src="https://www.ethnews.com/wp-content/uploads/2024/08/LENNOX-SANTIMENT.png" alt="" width="600" height="206">
 <figcaption id="caption-attachment-85731" class="wp-caption-text">
 Source: Santiment
 </figcaption>
</figure>
Metrics such as the increase in active wallet addresses, currency circulation, network growth, and transaction volume over the last 30 days have all risen.
<figure id="attachment_85735" aria-describedby="caption-attachment-85735" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-85735" src="https://www.ethnews.com/wp-content/uploads/2024/08/LENNOX-TV-1-2048x498-1.jpeg" alt="" width="2048" height="498">
 <figcaption id="caption-attachment-85735" class="wp-caption-text">
 Source: TradingView
 </figcaption>
</figure>
This pattern of increased <a href="https://www.ethnews.com/270000-traders-liquidated-what-no-one-tells-you-about-ethereum/" rel="noopener noreferrer nofollow">Ethereum network activity</a> is occurring in a market environment similar to the conditions during the Covid-19 market crash, when Ethereum reached low prices that prompted widespread selling among new investors. 
However, following that period, Ethereum experienced a significant price recovery. Current conditions suggest a potential for similar price behavior in the near future.
The present situation tests Ethereum’s price resilience. Technical analysis shows that Ethereum’s price action is revisiting levels that previously indicated a breakout. If this pattern holds, Ethereum might achieve a <a href="https://www.ethnews.com/why-did-jump-trading-dump-314-million-in-ethereum-overnight-insider-secrets-revealed/" rel="noopener noreferrer nofollow">new all-time high</a> by the third quarter of 2024.
<figure id="attachment_85739" aria-describedby="caption-attachment-85739" style="width: 100%" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="size-full wp-image-85739" src="https://www.ethnews.com/wp-content/uploads/2024/08/LENNOX-TV-2-2048x1007-1.jpeg" alt="" width="2048" height="1007">
 <figcaption id="caption-attachment-85739" class="wp-caption-text">
 Source: TradingView
 </figcaption>
</figure>
 Investment strategy recommendations include purchasing Ethereum aggressively when its price falls below $2,300, anticipating potential future gains as the market recovers.
Ethereum demonstrates robust network activity that could foresee a recovery, despite the ongoing market fear. Current analyses and historical patterns suggest that Ethereum’s network and price might have the potential for significant growth in the coming months.
The post <a href="https://www.ethnews.com/why-now-might-be-the-perfect-time-to-buy-ethereum-industry-expert-weighs-in/" rel="noopener noreferrer nofollow">Why Now Might Be the Perfect Time to Buy Ethereum—Industry Expert Weighs In!</a> appeared first on <a href="https://www.ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.

Why Now Might Be the Perfect Time to Buy Ethereum—Industry Expert Weighs In!

ETHNews

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