Ethereum still in the red, despite everything. THE August just closed, and it’s red for cryptocurrencies. The course of Bitcoin displays a decrease of 11.3% in August, and Ether does not show a better performance. Since 2013, the month of September is bearish for Bitcoin. Hopefully this time buyers will be there. The course ofEthereum is back at the support level at $1,650.
Ethereum drops 3.5% in 24 hours
Ethereum closes August in the red. THE ethereum price 3.5% drop in 24 hours.
The lesson stalled for a week. In a monthETH displays a drop close to 11%. In three monthsthe course is in drop over 13%. For its part, the pair ETH/BTC stalled for a month. Buyers and sellers neutralize each other on this pair.
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Long-term holders choose Ethereum
In on-chain analysis, we consider that the long-term holders (LTH) are operators who have held their assets for 155 days. It is interesting to watch the evolution of long-term holders on a cryptocurrency, because a long-term investment is made if the operator trusts the project.
According to data from IntoTheBlock, Ethereum is the cryptocurrency that matters the most LTH. ETH registers a 44% annual increase the number of LTHs. It can be seen that Ethereum has more than twice as many long-term holders as Bitcoin.
In third place is Litecoin (LTC). THE DOGE (Dogecoin), part of the memecoin industry, is fourth place of this ranking. Operators may be waiting for the implementation of payments in DOGE on X (Twitter). THE LINK (Chainlink), him, losing popularity. He records a annual decline close to 3% the number of LTHs.
Ethereum back to support level at $1,650
The price recently stalled at the resistance at $1,730and it is back at the support level at 1,650 dollars.
In the event of a rebound, the price will have to face the institutional bias (EMA 9/EMA 18) bearish. If price breaks the 9 and 18 moving averages, price may head towards the next resistance at $1,730. The price will have to break this resistance to continue the uptrend in 4 hours. On the other hand, if the support is lost, the price could fall towards the support at $1,600 or even to the support level around $1,500. THE ROI will have to find a bullish momentum for buyers to regain momentum.
Ethereum is the darling of long-term holders. Indeed, ETH counts more long-term holders than the king of cryptocurrencies. Good news that shows that the Ethereum project is attracting interest from investors. But the course, he grimaces. In Augustthe lesson fall over 10%. Buyers must now defend the support at $1,650 to avoid going back to $1600 or even $1500. In addition to a fragile price, will traders have to deal with staking limitation ?
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