{"id":172722,"date":"2023-10-12T11:39:34","date_gmt":"2023-10-12T06:09:34","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=172722"},"modified":"2023-10-12T11:39:34","modified_gmt":"2023-10-12T06:09:34","slug":"ethereum-investors-should-maintain-caution-despite-8000-calls-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ethereum-investors-should-maintain-caution-despite-8000-calls-crypto-news\/","title":{"rendered":"Ethereum Investors Should Maintain Caution Despite $,8000 Calls – Crypto News"},"content":{"rendered":"

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After a strong start to the month of October 2023, the world\u2019s second-largest cryptocurrency Ethereum (ETH) has come under significant selling pressure slipping under $1,600 earlier this week.<\/p>\n

At press time, ETH is trading at a price of $1,558 with a market cap of $187 billion. Popular crypto analyst Ali Martinez stated that the Ethereum price<\/a> has been relatively stable within a consistent range. Notably, the TD Sequential indicator has generated a buy signal near the lower boundary of this range, indicating the potential for ETH to recover to $1,630.<\/p>\n

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However, it\u2019s essential to exercise caution. Should the ETH price close below the $1,530 mark, it could invalidate the bullish outlook.<\/p>\n

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Courtesy: Ali Charts<\/a><\/figcaption><\/figure>\n

Mixed Reviews on Ethereum<\/h3>\n

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As per the Reuters report<\/a> on Wednesday, October 11, Standard Chartered Bank expects the ETH price to touch $8,000 within the next two years or utmost by early 2026. This optimistic perspective is grounded in Ethereum\u2019s expanding presence in smart contracts, gaming, and the tokenization of conventional assets. Additionally, Geoff Kendrick, Head of FX Research at Standard Chartered, suggested a more ambitious structural valuation in the long term, ranging from $26,000 to $35,000 by 2040, driven by emerging real-world use cases.<\/p>\n

However, not everyone is bullish about Ethereum going ahead. Following the Shanghai upgrade in April, there was a 12% reduction in daily transactions on the Ethereum network, according to a report from JPMorgan Chase. Analysts at the bank, led by Nikolaos Panigirtzoglou, raised concerns about the diminishing network activity on the platform.<\/p>\n

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There was a substantial 20% decline in daily active addresses. Additionally, the total value locked on the Ethereum network dropped by 8%. Furthermore, the introduction of nine Ether futures ETFs yielded disappointing results. As a result, ETH has been losing ground to Bitcoin<\/a>.<\/p>\n

Ethereum Price Predictions<\/h3>\n

As said, Ethereum is trading in the crucial demand zone in the range between $1,530-$1,630 levels. Lately, Benjamin Cowen, a renowned analyst known for his precision, has expressed his views on Ethereum through his YouTube channel<\/a>. He predicts that Ethereum, a widely recognized cryptocurrency, is likely to experience a decrease in value by the end of this year.<\/p>\n

\u201cIn my opinion, the most likely outcome is that Ethereum will drop to less than $1,200 within the next two and a half months, and maybe even lower,\u201d he noted.<\/p>\n

However, Ethereum whales have continued to show hands with the top 10 largest ETH wallets<\/a> adding 40 million ETH recently.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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\u2713 Share:<\/p>\n

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills. <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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After a strong start to the month of October 2023, the world\u2019s second-largest cryptocurrency Ethereum (ETH) has come under significant selling pressure slipping under $1,600 earlier this week. At press time, ETH is trading at a price of $1,558 with a market cap of $187 billion. Popular crypto analyst Ali Martinez stated that the Ethereum […]<\/p>\n","protected":false},"author":2,"featured_media":169969,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-172722","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/172722","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=172722"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/172722\/revisions"}],"predecessor-version":[{"id":172724,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/172722\/revisions\/172724"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/169969"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=172722"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=172722"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=172722"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}