{"id":638407,"date":"2024-08-29T05:30:34","date_gmt":"2024-08-29T05:30:34","guid":{"rendered":"https:\/\/ktsl888.com\/?p=638407"},"modified":"2024-08-28T18:06:39","modified_gmt":"2024-08-28T18:06:39","slug":"ethereum-falls-below-2500-analysts-eye-potential-rebound-at-these-levels","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-falls-below-2500-analysts-eye-potential-rebound-at-these-levels\/","title":{"rendered":"Ethereum Falls Below $2,500: Analysts Eye Potential Rebound At These Levels"},"content":{"rendered":"

Amid\u00a0Ethereum’s continuous free fall in price, renowned crypto analyst Michael Van De Poppe highlighted<\/a> the asset’s current weakness in a post on X earlier today\u00a0<\/span>and when there could be a potential rebound.<\/p>\n

Van De Poppe’s outlook comes at a time when Ethereum, the second-largest cryptocurrency by market capitalization, has continued to experience significant downward pressure<\/a>, much like its counterpart, Bitcoin. In the past 24 hours, ETH has seen a decline of 3.7%, bringing its current trading price to $2,491.<\/p>\n

Related Reading: Is Ethereum Finally Over the Slump? These 2 On-Chain Metrics Suggests a Bullish Turn<\/a><\/div>\n

Ethereum Outlook: When Will A Price Recovery Happen?<\/h2>\n

Van De Poppe noted in the post that Ethereum was rejected at the 0.046 BTC level and is now approaching high timeframe support areas.<\/p>\n

The analyst mentioned the possibility of a bullish divergence<\/a> forming, which could lead to a rally later this week or next. However, this potential recovery is contingent on ETH finding support and reversing its current trajectory<\/a>.<\/p>\n

\n

$ETH<\/a> is super weak, it remains to be the case.<\/p>\n

Rejected at 0.046 BTC and is currently falling towards HTF support areas. There might be a case of a bullish divergence standing up, but then it should be rallying from later this week into next week. pic.twitter.com\/liVwA7moSm<\/a><\/p>\n

\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) August 28, 2024<\/a><\/p><\/blockquote>\n

Another crypto analyst, Javon Marks, shared<\/a> a more optimistic outlook for Ethereum, drawing parallels with Bitcoin\u2019s recent performance. Marks suggested that Bitcoin\u2019s earlier successful breakout above $67,000 hints at what\u2019s next for ETH.<\/p>\n

He speculated that if Bitcoin could continue to climb, it could pave the way for Ethereum to reach its target of $4,811 or higher. However, this potential recovery\u00a0depends<\/a><\/span>\u00a0on Bitcoin\u2019s ability<\/a> to maintain its upward momentum and break above key resistance levels.<\/p>\n

Marks noted:<\/p>\n

Bitcoin climbing even more for ETH’s ‘following’ fulfillment to $4811.6 could result BTC breaking above $67,559, which opens up $116,000+ and much, much more room to lead the crypto market into heightened bullish phases. Simplicity.<\/p><\/blockquote>\n

Market Liquidations Surge As Traders Bet On Rising Prices<\/h2>\n

Meanwhile, the recent price drops in Ethereum and Bitcoin have significantly impacted traders, with many being caught off guard by the sudden downturn<\/a>.<\/p>\n

According to data<\/a> from Coinglass, over 92,000 traders were liquidated in the past 24 hours, resulting in total liquidations of $325.03 million. Ethereum accounted for $86 million of these liquidations, with $67.90 million coming from long positions.<\/p>\n

\"Ethereum
Ethereum and other total liquidations. | Source: Coinglass<\/a><\/figcaption><\/figure>\n

This suggests that many traders expected ETH to rise in price, only to be met with the opposite outcome. Bitcoin, too, saw substantial liquidations, accounting for $111.78 million of the total.<\/p>\n

Related Reading: Ethereum Price Dives: Is Bearish Control on the Horizon?<\/a><\/div>\n

Similar to Ethereum, the majority of these liquidations were from long positions, indicating that many traders did not anticipate the price decline.<\/p>\n

\"Ethereum
ETH price is moving sideways on the 2-hour chart. Source: ETH\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Amid\u00a0Ethereum’s continuous free fall in price, renowned crypto analyst Michael Van De Poppe highlighted the asset’s current weakness in a post on X earlier today\u00a0and when there could be a potential rebound. Van De Poppe’s outlook comes at a time when Ethereum, the second-largest cryptocurrency by market capitalization, has continued to experience significant downward pressure, much like its counterpart, Bitcoin. In the past 24 hours, ETH has seen a decline of 3.7%, bringing its current trading price to $2,491. Related Reading: Is Ethereum Finally Over the Slump? These 2 On-Chain Metrics Suggests a Bullish Turn Ethereum Outlook: When Will A Price Recovery Happen? Van De Poppe noted in the post that Ethereum was rejected at the 0.046 BTC level and is now approaching high timeframe support areas. The analyst mentioned the possibility of a bullish divergence forming, which could lead to a rally later this week or next. However, this potential recovery is contingent on ETH finding support and reversing its current trajectory. $ETH is super weak, it remains to be the case. Rejected at 0.046 BTC and is currently falling towards HTF support areas. There might be a case of a bullish divergence standing up, but then it should be rallying from later this week into next week. pic.twitter.com\/liVwA7moSm \u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) August 28, 2024 Another crypto analyst, Javon Marks, shared a more optimistic outlook for Ethereum, drawing parallels with Bitcoin\u2019s recent performance. Marks suggested that Bitcoin\u2019s earlier successful breakout above $67,000 hints at what\u2019s next for ETH. He speculated that if Bitcoin could continue to climb, it could pave the way for Ethereum to reach its target of $4,811 or higher. However, this potential recovery\u00a0depends\u00a0on Bitcoin\u2019s ability to maintain its upward momentum and break above key resistance levels. Marks noted: Bitcoin climbing even more for ETH’s ‘following’ fulfillment to $4811.6 could result BTC breaking above $67,559, which opens up $116,000+ and much, much more room to lead the crypto market into heightened bullish phases. Simplicity. Market Liquidations Surge As Traders Bet On Rising Prices Meanwhile, the recent price drops in Ethereum and Bitcoin have significantly impacted traders, with many being caught off guard by the sudden downturn. According to data from Coinglass, over 92,000 traders were liquidated in the past 24 hours, resulting in total liquidations of $325.03 million. Ethereum accounted for $86 million of these liquidations, with $67.90 million coming from long positions. This suggests that many traders expected ETH to rise in price, only to be met with the opposite outcome. Bitcoin, too, saw substantial liquidations, accounting for $111.78 million of the total. Related Reading: Ethereum Price Dives: Is Bearish Control on the Horizon? Similar to Ethereum, the majority of these liquidations were from long positions, indicating that many traders did not anticipate the price decline. Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":638413,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[428,1119,8323,1946,10336,92971,91844,84165,78803],"class_list":["post-638407","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-bitcoin","tag-btc","tag-eth","tag-ethereum","tag-ethereum-analysis","tag-ethereum-and-bitcoin","tag-ethereum-market","tag-ethereum-price-prediction","tag-ethusdt"],"acf":[],"yoast_head":"\nEthereum Falls Below $2,500: Analysts Eye Potential Rebound At These Levels<\/title>\n<meta name=\"description\" content=\"Amid Ethereum continuous free fall in price, renowned crypto analyst known as Michael Van De Poppe has earlier today in a post on X...\" \/>\n<meta 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/ktsl888.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Falls Below $2,500: Analysts Eye Potential Rebound At These Levels","url":"http:\/\/ktsl888.com\/news\/ethereum\/ethereum-falls-below-2500-analysts-eye-potential-rebound-at-these-levels\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/ethereum\/ethereum-falls-below-2500-analysts-eye-potential-rebound-at-these-levels\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-28-17.59.51-A-digital-illustration-depicting-Ethereums-fall-below-2500-with-analysts-eyeing-potential-rebound-levels.-The-image-features-the-Ethereum-symbol-w.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-28-17.59.51-A-digital-illustration-depicting-Ethereums-fall-below-2500-with-analysts-eyeing-potential-rebound-levels.-The-image-features-the-Ethereum-symbol-w.jpg?fit=1024%2C1024"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","eth","ethereum","ethereum analysis","ethereum and bitcoin","ethereum market","ethereum price prediction","ethusdt"],"dateCreated":"2024-08-29T05:30:34Z","datePublished":"2024-08-29T05:30:34Z","dateModified":"2024-08-29T05:30:34Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Falls Below $2,500: Analysts Eye Potential Rebound At These Levels\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ethereum\\\/ethereum-falls-below-2500-analysts-eye-potential-rebound-at-these-levels\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ethereum\\\/ethereum-falls-below-2500-analysts-eye-potential-rebound-at-these-levels\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/DALL\\u00b7E-2024-08-28-17.59.51-A-digital-illustration-depicting-Ethereums-fall-below-2500-with-analysts-eyeing-potential-rebound-levels.-The-image-features-the-Ethereum-symbol-w.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/DALL\\u00b7E-2024-08-28-17.59.51-A-digital-illustration-depicting-Ethereums-fall-below-2500-with-analysts-eyeing-potential-rebound-levels.-The-image-features-the-Ethereum-symbol-w.jpg?fit=1024%2C1024\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"eth\",\"ethereum\",\"ethereum analysis\",\"ethereum and bitcoin\",\"ethereum market\",\"ethereum price prediction\",\"ethusdt\"],\"dateCreated\":\"2024-08-29T05:30:34Z\",\"datePublished\":\"2024-08-29T05:30:34Z\",\"dateModified\":\"2024-08-29T05:30:34Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-28-17.59.51-A-digital-illustration-depicting-Ethereums-fall-below-2500-with-analysts-eyeing-potential-rebound-levels.-The-image-features-the-Ethereum-symbol-w.jpg?fit=1024%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/638407"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=638407"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/638407\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/638413"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=638407"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=638407"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=638407"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}