Ethereum

bullish

Value

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-investors-monitor-market-trends/" data-wpel-link="internal">Ethereum Investors Monitor Market Trends</a><br></p>
<p class="p1" style="text-align: justify">Developments in the <a href="https://en.coin-turk.com/surge-in-kraken-deposits-amidst-big-players-exit-from-canadian-crypto-market/" data-wpel-link="internal">crypto market</a> continue to attract attention. Accordingly, Ethereum price could benefit from the shift in <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>‘ outlook from selling to potentially buying. These indicators stem from a decline in realized losses, which were at an 11-month high less than two weeks ago. So, what can we expect for Ethereum in the upcoming period? Let’s examine together.</p> 
<h2 class="p1" style="text-align: justify" id="what-s-happening-with-ethereum">What’s Happening with Ethereum?</h2> 
<p class="p1" style="text-align: justify"><strong>Ethereum’s</strong> price could rebound from the low levels around $2,500. The altcoin king, consolidating below $2,681, continues to seek a breakout. The reason behind this could be the cessation of sales. The realized losses faced by Ethereum holders over the past three weeks can be seen as panic caused by the selling pressure experienced in July. This process leads to a sudden dump, causing sharp losses.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-382030 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/glassnode-3.webp" alt="" width="1800" height="1013"></p> 
<p class="p1" style="text-align: justify">However, this process has significantly changed in the last ten days with the slight recovery of the price and the re-establishment of hope for a rise. This could signal an uptrend, and the Market Value to Realized Value <strong>(MVRV)</strong> ratio further supports this signal. If Ethereum holders start accumulating from here, Ethereum’s price recovery could gain strength.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-382029 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/mvrv-veri.png" alt="" width="3840" height="1300"></p> 
<h2 class="p1" style="text-align: justify" id="eth-chart-analysis">ETH Chart Analysis</h2> 
<p class="p1" style="text-align: justify">Ethereum’s price at $2,577 is currently moving sideways between $2,681 and $2,546. This short-term consolidation has been holding Ethereum for the past two weeks. However, the aforementioned factors indicate a possible breakout from this consolidation. This breach could send Ethereum to the next resistance level at $2,930, and a rise above this could direct Ethereum’s price towards $3,000.</p> 
<p class="p1" style="text-align: justify">A rise from this resistance could send <strong>Ethereum’s</strong> price to $3,300, signaling a full recovery after the selling pressure experienced in July. However, if Ethereum’s price fails to surpass the $2,930 level, it may enter another consolidation above the $2,681 level. Prolonged sideways movement could invalidate the short-term bullish thesis. Especially, a decrease in the number of users in the ecosystem and a reduction in transactions could lead to selling pressure on Ethereum’s price.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-382028 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/eth-4.webp" alt="" width="1754" height="768"></p> 
<ul class="Summary"> 
 <li>Ethereum price could benefit from a shift in investor outlook.</li> 
 <li>Short-term consolidation has been holding Ethereum for two weeks.</li> 
 <li>Possible breakout could direct Ethereum’s price towards $3,000.</li> 
</ul> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ethereum-investors-monitor-market-trends/" data-wpel-link="internal">Ethereum Investors Monitor Market Trends</a></h5>
<p>The post <a href="https://en.coin-turk.com/ethereum-investors-monitor-market-trends/" data-wpel-link="internal">Ethereum Investors Monitor Market Trends</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Ethereum Investors Monitor Market Trends

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