Ethereum

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Momentum

when

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<p>The post <a href="https://coinpedia.org/price-analysis/ethereum-struggles-despite-recovery-eth-price-to-retest-2-1k/" rel="noopener noreferrer nofollow">Ethereum Struggles Despite Recovery! ETH Price To Retest $2.1K?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Despite increased bearish action, the Ethereum price has held its value above its important support trendline of $2,500. This indicates a high possibility of a bullish reversal in the price of ETH tokens during the coming time.</p>
<p>Following this, investors are curious with queries like, “Will ETH price go up?” and “When will Ethereum reclaim $3K?” to restructure their investment plan for the upcoming weeks.</p>
<p>In this article, we have uncovered the mysteries by giving detailed market sentiment, price action, and potential price targets of Ethereum (ETH) for September.</p>
<p>For longer-term investment or to find out when “Will ETH Price Hit 5K?”, scroll through CoinPedia’s <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/" rel="noopener noreferrer nofollow">Ethereum price prediction</a> article.</p>
<h2 class="wp-block-heading" id="h-eth-coin-price-losing-momentum">ETH Coin Price Losing Momentum</h2>
<p>With a drop of approximately 1%, the Ethereum price has faced rejection at its important resistance zone above the $2,500 level. Notably, the altcoin leader has been trading within a descending channel pattern since mid-July. Moreover, it is on the verge of testing its resistance trendline, the outcome of which is uncertain.</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfgAl9RdwXBgkQ6G6bgpCms6yK6J9VVSucy-v_ax9wXvNtEK67eeUW4-luZu4JMVPFe6HQeNcXP2KQcJz16tbUbyXtZkIchJZyeL2EHb35Na6Zye64exHfqegmTNJMpRvKlFvv-jNAbaQdB_b93AIuXzb_j?key=BcP1iTR9vCK0qInqEsh2Bg" alt="Ethereum Price Analysis">
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  TradingView: ETH/USDT
 </figcaption>
</figure>
<p>In the longer time frames, the Ethereum crypto has dropped approximately 5% and 15.62%. With a YTD return of +9.94%, this altcoin is currently trading with a price tag of $2,505 and has a market capitalization of $301.792 Billion.</p>
<p>The Moving Average Convergence Divergence (MACD) records a constant flatline with its averages displaying a neutral trend. Further, the SMA indicator is on the verge of recording a bearish convergence. This suggests a weak bullish sentiment for the altcoin leader.</p>
<h2 class="wp-block-heading" id="h-ethereum-eth-tvl-records-30-drop-from-its-yearly-high">Ethereum (ETH) TVL Records 30% Drop From Its Yearly High</h2>
<p>With a bullish Q1, the Ethereum TVL recorded a significant rise in its $75.50 Billion to $86.36 Billion during March. However, as the market stabilized, the TVL experienced a neutral flow for the next three months.</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeEX2o_VJFpHVA1GhwYmVM_aYaixcnhTIbhVqGOZe91pSSNcnB_8uoAJNyR1-NhC-Ysbi74QqQlZ4V2b7IMq76-e7g-q08G1AoWYp8dP5VivQqc3Pqb9diq64PoE9Qc8mjPnoXTjArMPCBJmh-B5Po2g51d?key=BcP1iTR9vCK0qInqEsh2Bg" alt="">
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  Source: DefiLlama
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</figure>
<p>Following the launch of Ethereum ETF, ETH coin prices experienced a massive uptrend. This resulted in its TVL recording a high of $160.518 Billion on 6th June. since then, it has plunged 30.48% and is currently valued at $111.581 Billion.</p>
<p>In spite of recording a bearish August, the TVL has recorded a stable action. On a bullish note, the rising TVL during the upcoming time could act as a catalyst for the price of the Ethereum token to experience a bullish rebound.</p>
<h2 class="wp-block-heading" id="h-will-the-ethereum-price-go-up">Will The Ethereum Price Go Up?</h2>
<p>Maintaining the value above the resistance level of $2,500 could set the stage for ETH crypto to test its upper level of $2,800 in the coming time. Furthermore, if the bulls continue to gain momentum at that point, the altcoin leader may prepare to reclaim its $3K mark.</p>
<p>However, if the market sentiments don’t favor the bulls, the Ethereum token could plunge toward its crucial support trendline of $2,175 this month.</p>

Ethereum Struggles Despite Recovery! ETH Price To Retest $2.1K?

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