Connect with us
  • tg

Cryptocurrency

4 Bear and 3 Bull Scenarios for Ethereum (ETH) Price in September

letizo News

Published

on

That is if Ethereum can weather three big price hurdles ahead of it in September,

The Dencun upgrade’s introduction of low-cost blobs for Layer-2 blockchains to quickly scale the network to peers has unleashed a torrent of activity on Ethereum’s decentralized smart contract network.

Since then, gas fees in ETH on the base layer of Ethereum have declined significantly. Although that has reduced validators’ revenues, there has been a blossoming of activity on low-fee L2s.

Ethereum L2 monthly active users doubled after Dencun took effect in March. Meanwhile, fees to use Base, Mantra, Starknet, Blast, and OP Mainnet have declined dramatically.

But Ethereum has struggled this year to reflect its improvements and future prospects in a consolidated movement of the market. When it slipped to $2,400 this week, its price was back to where it was in February. By comparison, Bitcoin has been doing a little better this year.

So will Ether’s price continue to thrash and flail, or does it have an advantage over competitors like BNB, Solana, XRP, Tron, and Cardano in the near to medium term?

4 Ethereum Price Advantages In 2024

Here are four advantages Ethereum has going forward:

1. Another Wrapped Bitcoin On Ethereum

21co, the owner of Bitcoin ETF issuer 21 Shares, just recently introduced another Wrapped Bitcoin asset on Ethereum.

This is a reminder: Your Bitcoin is a final settlement in a brutally scarce currency on the most secure Web3 layer blockchain —and Ethereum represents so many things you can do with it without just handing it over to the establishment it’s disrupting.

While Bitcoin is in a long-term holding phase because of its network effects and the growth prospects of each Satoshi’s value due to its ultimately addressable global market, when the dam breaks and the pent-up demand spills, Ethereum is certainly one place where holders will be spending it.

From finance, to insurance, to contracts, to CRMs, to supply chain management, to gaming, and online database solutions, the leading smart contract networks like Ethereum have a very big future ahead.

2. Institutional Adoption Marches On

Wall Street has so far laid only finicky hands on the Ethereum ETFs, with outflows creating resistance for Ether’s price. But the overall institutional stance toward the asset is still second only to Bitcoin, even as corporate project managers and institutional hedge funds flirt with Ethereum’s competitors like Solana and Cardano.

However, Ethereum and ERC20 Layer-2 protocol Polygon (MATIC) power most of the institutional products currently available on Web3. A recent X post from Adriano Feria, a popular ETH booster on social media, outlined the march of corporate projects using Ethereum.

“Hate to break it to the #Ethereum doubters, but $ETH is well on its way to securing solid institutional adoption, led by industry giants like Coinbase, Circle, BlackRock, and more recently, Sony,” Feria wrote.

With Sony’s announcement on August 22 that it’s launching its own Ethereum Layer-2 blockchain, Soneium, there could be some more market alpha in ETH’s future.

3. Ethereum Price Chart Technicals

ETH just had its worst month in two years, falling by 22% in August. Therefore, mean reversion theory dictates that its price will tend to move back toward its average trend over time, giving it support for a rally. Put in shoppers’ terms, Ether was on sale in August.

ETH may be undervalued based on expert predictions from some of the most active funds, publications, and banks in the Web3 space, in a recent study by CoinGecko:

4. Dovish Fed Regime Pivot

The Federal Reserve chair announcing in August a pivot to lower interest rates is likely to galvanize crypto markets. As dollar supplies increase, there’s extra liquidity to pump financial markets like stocks and cryptocurrency.

There’s also a baked-in ethos among crypto investors to hedge dollar inflation using cryptocurrencies, especially those that strictly limit new supplies.

Ethereum is especially well-suited as one of these alternative sound money currencies. After the Merge transitioned it from a mined to staked cryptocurrency in Sept. 2022, it also introduced a burn feature that removes a small amount of Ether when transactions are made.

That helps limit supplies and so that ETH tokens hold their purchasing power parity against other currencies like Bitcoin and the US dollar.

3 Price Hurdles for Ethereum in September:

1. September Doldrums a Headwind

September is historically a slumpy month for financial markets. In stocks, it is the only calendar month to return an average negative ROI over the past 98 years. It has typically been choppy and slow for crypto assets as well, with seasonally high volatility and lower prices.

That means it can make a great entry point for crypto investors to buy assets at good value. It’s also not usually the time of year to sell to maximize earnings or minimize losses.

2. US Election Uncertainty

Markets are also fretting over the outcome of the U.S. election in November. A Harris win could lead to rising prices, higher taxes, and more expensive regulations.

A Trump win could lead to another multi-trillion dollar trade war with half the rest of the world, which was expensive for Wall Street the last time around.

3. Bitcoin’s Price Gravity Well

Ethereum’s valuation is closely related to the spot price of BTC. Over the course of the four-year cycle around Bitcoin’s supply halvings, there tends to be a mild bear market around this time after the event, leading up to multi-month rally to new record highs. That’s going to have an impact on altcoin prices.

SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!

Cryptocurrency

Dogecoin Millionaire Says to Watch Pepe, Neiro Ethereum, Brett for the Next Crypto Bull Run: What About Pepe Unchained?

letizo News

Published

on

Glauber Contessoto, the “Dogecoin millionaire,” is back in the news.

He recently shared on Twitter which coins he believes could be the next big winners in the upcoming bull run.

PEPE, NEIRO, and BRETT are three coins he’s got his eye on – and he believes they have serious potential to take off.

Dogecoin Millionaire’s Picks for the 2025 Bull Run

Contessoto’s tweet on Monday went viral.

With over 85,000 views, his tweet laid out what he believes will be the two biggest meme coin narratives driving the 2025 bull run.

First up, he’s betting on the rise of the “PEPEVERSE,” with PEPE on Ethereum and BRETT on Base leading the way.

Contessoto sees these coins, along with others tied to characters like Andy and Wolf, producing big wins for investors.

Next in line is the “DOGEVERSE.”

He expects a revival of old favorites like DOGE, SHIB, and FLOKI from the last cycle.

But he’s also watching for new dog coins – with NEIRO on Ethereum catching his eye as the “younger sister of Doge.”

It’s no surprise that Contessoto’s picks have stirred up plenty of excitement.

And many investors are eager to see if these picks will be the stars of the next crypto bull run.

Could We Be on the Verge of Another Bull Cycle?

Are we on the brink of another crypto bull run?

Several signs suggest it’s possible.

For starters, the Fed is expected to cut interest rates at their FOMC meeting today.

Historically, lower interest rates have been great for riskier assets like crypto as investors look for better returns.

More money flowing into the crypto market could push prices higher.

Then there is the growing role of institutional adoption.

With spot Bitcoin and Ethereum ETFs now available, big investors can get into crypto through more trusted channels.

That added legitimacy might boost demand even further if interest rates begin to come down.

Of course, the broader economic picture matters too.

For example, a “soft landing” in which inflation reaches the Fed’s target without causing a recession could create the ideal conditions for crypto to thrive.

These combined factors suggest we might be on the verge of a bullish shift – making Contessoto’s coin picks even more exciting.

Investors Also Stacking Pepe Unchained for the Next Bull Run

Contessoto’s picks are definitely worth watching – but they’re not the only contenders.

One rising star that’s been catching a lot of attention is Pepe Unchained (PEPU), which puts a new spin on the iconic Pepe meme.

Featuring a “Pepe the Frog” theme, Pepe Unchained aims to set itself apart by combining meme culture with a real-world blockchain project.

Think of it like a classic joke token, but upgraded.

It still has that “degen” vibe, yet it offers extra utility by creating its own Layer-2 blockchain, Pepe Chain.

This chain claims it would offer super-fast transactions, low fees, and easy integration with the Ethereum ecosystem.

And if that wasn’t enough, the staking rewards definitely are.

Currently, PEPU holders can stake their tokens and generate yields of 152% per year.

That’s far higher than what most staking coins offer.

No surprise, then, that Pepe Unchained’s presale has already raised over $13.5 million.

FOMO is beginning to kick in, and the hype is building.

Crypto influencers like ClayBro are even predicting that PEPU will be “ready to explode” after the Fed’s upcoming rate decision.

With a potential crypto bull run on the horizon, Pepe Unchained could be another meme coin worth watching.

The next price increase takes place in less than 24 hours, so there’s limited time to participate in the current phase.

Visit Pepe Unchained Presale

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

Readers are also advised to read CryptoPotato’s full disclaimer.

SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!

Continue Reading

Cryptocurrency

Ripple Price Analysis: XRP Bulls Eye $0.6 as Positive Sentiment Spreads

letizo News

Published

on

After a solid bullish rebound, Ripple’s price surged to the $0.60 level. However, it has since entered a brief consolidation phase, which may pave the way for further upward movement toward the significant $0.64 resistance.

By Shayan

The Daily Chart

A closer look at Ripple’s daily chart reveals that following an increase in demand around the key 100-day ($0.53) and 200-day ($0.55) moving averages, buying activity intensified, leading to a sharp price surge toward the $0.60 mark.

Although Ripple’s upward momentum has temporarily paused, the price has now entered a short-term consolidation at this level. This phase is likely to be followed by a continuation of the bullish trend, with XRP targeting the critical $0.64 resistance level, a zone that has consistently challenged buyers in recent months.

Should sellers regain control of this resistance, XRP’s price could face a reversal, potentially declining back toward the $0.55 support region. On the other hand, if buyers manage to break through the $0.64 resistance, the bullish trend is expected to continue, signaling a shift in market sentiment.

xrp_price_chart_1809241
Source: TradingView

The 4-Hour Chart

On the 4-hour chart, XRP saw increased buying interest at the 0.5 Fibonacci retracement level ($0.52), which coincides with the lower boundary of a descending flag pattern. This triggered a strong bullish reversal, pushing the price toward the upper boundary of the flag at $0.62, a key resistance level in this formation.

If the cryptocurrency successfully breaks above $0.62, the bullish trend is likely to continue, with the price targeting the $0.64 threshold. However, failure to break through this resistance could lead to a bearish rejection, with the price potentially retracing back to the $0.55 static support area.

xrp_price_chart_1809242
Source: TradingView
SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Continue Reading

Cryptocurrency

Bitcoin Price Analysis: The Fed Cut Rates, Now What’s Next for BTC?

letizo News

Published

on

Bitcoin’s price finally looks set to break back above the $60K level after weeks of consolidation. However, there is still one more key resistance level that the price needs to overcome.

Technical Analysis

By: Edris Derakhshi (TradingRage)

The Daily Chart

On the daily timeframe, Bitcoin’s price is demonstrating a willingness to finally break above the $60K resistance level, following its rebound from $52K.

The RSI also shows values above 50, indicating that the market momentum is bullish once again. However, for the cryptocurrency to begin a new long-term rally, the price should first rise above the 200-day moving average, which is located near the $64K resistance level.

btc_price_chart_1809241
Source: TradingView

The 4-Hour Chart

The 4-hour chart clarifies the recent price action, as the market has been making higher highs and lows since bouncing from the $52K support level.

As this suggests, it is only a matter of time for the $60K resistance level to be broken to the upside, which would pave the way for BTC to rally toward the significant $64K resistance area. The RSI is also showing bullish momentum in this timeframe and has yet to reach the overbought region. Therefore, the market seems to be on the verge of an increase, at least in the short term.

btc_price_chart_1809242
Source: TradingView

On-Chain Analysis

By Edris Derakhshi (TradingRage)

Bitcoin Exchange Supply Ratio

To sell their coins in the crypto market, most people have to first deposit them into an exchange. The amount of BTC held in exchange wallets is, therefore, a proxy for market supply (at least retail), and analyzing its trends could be beneficial.

This chart presents the BTC exchange supply ratio, which measures the ratio of the BTC held in exchanges to the total supply of the coin.

As it shows, the metric has been declining rapidly since February, indicating that heavy accumulation occurred during the recent consolidation. As a result, if sufficient demand is present, the market can begin a new rally toward higher prices.

Bitcoin Exchange Supply Ratio - All Exchanges
Source: CryptoQuant
SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Continue Reading

Trending

©2021-2024 Letizo All Rights Reserved