Ethereum’s Volatility Remains Low as Price Stays Flat
Ethereum’s price has shown minimal volatility in the last 24 hours, staying relatively flat. However, there has been a significant drop in price over the past month, with an 11% decrease compared to a month earlier.
Ethereum’s Weak Price Movement
- Current price trend shows a struggle for control between bulls and bears.
- Price reached a high of $1,689 on August 19, but dropped to $1,605 by August 23.
- Although there was a brief uptrend, it was weak and rejected at $1,686.
- If the price falls below $1,600, selling pressure is likely to intensify.
Ethereum Shows Bearish Sentiment
- The Parabolic SAR indicates a bearish momentum.
- The MACD line is in the negative zone, suggesting increased selling pressure.
- Crucial resistance levels are seen at $1,799, $1,827, and $1,832.
Ethereum Whales Accumulate, Anticipate A Rebound
Four whales have accumulated $94 million worth of Ether in the last seven days, indicating that large investors expect the price to increase.
Race For Ethereum Futures ETF
ARK Invest and 21Shares have applied for Ethereum futures ETFs, potentially signaling a rebound in the price of ETH if approved by the SEC.
Quick Gains With Wall Street Memes Presale
The Wall Street Memes presale, focused on improving retailers’ offerings and challenging capitalism, has raised over $25 million with its native WSM token trading at $0.0337 during the current presale stage.
Hot Take
Ethereum’s price has been relatively stable but shows a bearish sentiment. Whales accumulating ETH and the potential approval of Ethereum futures ETFs could lead to a price rebound. Additionally, the Wall Street Memes presale presents an opportunity for quick gains. Keep an eye on these developments as they could impact the future of Ethereum.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies.Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.
