Ethereum Struggles to Maintain Steady User Traction
- Fluctuating user activity has slowed down the ETH price rally
- ETH Transaction Volume has not been able to maintain steady growth
- If Transaction Volume continues to decline, ETH price could face challenges
Bitcoin ETF Takes the Spotlight
- Institutional investors are favoring Bitcoin ETF over ETH alternatives
- ETH Social Volume has dropped significantly, indicating less investor attention
- ETH prices could continue to move at a slow pace due to transaction volumes and social sentiment
ETH Price Prediction: Consolidation around $1,900
- ETH price is likely to consolidate around $1,900 in the coming days
- If ETH surpasses $1,900, it may face resistance at the $2,000 mark
- A downtrend could occur if the price falls below $1,800, with potential support at $1,700
Hot Take:
Despite a rise in the global cryptocurrency market cap, Ethereum is struggling to gain momentum and maintain steady user traction. Institutional investors are showing a preference for Bitcoin ETF, causing ETH to lose ground in terms of attention and social sentiment. As a result, ETH prices may continue to move slowly and consolidate around $1,900. However, breaking through resistance at $2,000 could lead to further price gains, while a drop below $1,800 may trigger a downtrend.
Continue reading on Beincrypto.com
By
By
By
