{"id":182250,"date":"2023-10-27T18:23:51","date_gmt":"2023-10-27T12:53:51","guid":{"rendered":"https:\/\/dripp.zone\/news\/eth-consolidates-dates-below-1800-crypto-news\/"},"modified":"2023-10-27T18:23:56","modified_gmt":"2023-10-27T12:53:56","slug":"eth-consolidates-dates-below-1800-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/eth-consolidates-dates-below-1800-crypto-news\/","title":{"rendered":"ETH Consolidates Dates Below $1,800 &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p class=\"p1\">Ethereum price rally took a breather on Thursday following a week full of song and dance among crypto investors. The talk majorly centered around the potential approval of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/bitcoin-price-prediction-why-the-next-bull-run-depends-on-the-approval-of-btc-spot-etfs\/?utm_source=24hrsupdatebitcoin\">Bitcoin spot exchange funds (ETFs)<\/a>, prompted by tale-tale signs of the US Securities and Exchange Commission (SEC) warming up to the idea.<\/p>\n<p class=\"p1\">The second-largest cryptocurrency broke out in tandem with BTC, seemingly ending the longstanding downtrend. For the first time since August, Ether traded above $1,800, although it had corrected to trade at $1,781 on Friday from highs around $1,864.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<h2 class=\"p1\">Ethereum Price Consolidates Gains, Will It Breakout Again?<\/h2>\n<p class=\"p1\">Following the widespread <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/us-pce-bitcoin-ethereum-retrace-ahead-of-inflation-data-wall-street-estimates\/?utm_source=24hrsupdatebitcoin\">uptake of Ethereum<\/a> among traders and investors rooting for the bull run, the largest smart contracts token ascending above a falling wedge pattern, as shown in the chart below.<\/p>\n<p class=\"p1\">This move marked the first significant breakout above a multi-month trendline that has been in existence since April when the bullish outlook in the early months of 2023 faded at $2,138.<\/p>\n<figure id=\"attachment_162590\" aria-describedby=\"caption-attachment-162590\" style=\"width: 2710px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/ETHUSD_2023-10-27_14-56-33.png\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-162590\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/ETHUSD_2023-10-27_14-56-33.png\" alt=\"Ethereum price prediction chart \" width=\"2710\" height=\"1454\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/ETHUSD_2023-10-27_14-56-33.png 2710w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/ETHUSD_2023-10-27_14-56-33-300x161.png 300w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/ETHUSD_2023-10-27_14-56-33-1224x657.png 1224w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/ETHUSD_2023-10-27_14-56-33-768x412.png 768w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/ETHUSD_2023-10-27_14-56-33-1536x824.png 1536w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/ETHUSD_2023-10-27_14-56-33-2048x1099.png 2048w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/ETHUSD_2023-10-27_14-56-33-150x80.png 150w\" sizes=\"auto, (max-width: 2710px) 100vw, 2710px\"\/><\/noscript><\/a><figcaption id=\"caption-attachment-162590\" class=\"wp-caption-text\">Ethereum price prediction chart | Tradingview<\/figcaption><\/figure>\n<p class=\"p1\">Price action beyond all three applied moving averages, starting with the 21-day Exponential Moving Average (EMA) (red), the 100-day EMA (blue), and the 200-day EMA (purple) encouraged traders to keep their positions open while investors fought the urge to jump on the slightest sign of profit.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p class=\"p1\">The falling wedge pattern breakout was also accompanied by a significant increase in trading volume, creating a perfect environment for a major rally.<\/p>\n<p class=\"p1\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/ethereum\/\">Ethereum price<\/a> currency holds above the 38.2% Fibonacci retracement level, which bulls would be depending on to resume the uptrend.<\/p>\n<p class=\"p1\">Traders should proceed with caution but not sell out of panic, considering the Relative Strength Index (RSI) shows signs of a pullback on the cards. If the RSI falls back into the neutral area from the overbought region, declines could ensue, with traders closing their positions to lock in the gains.<\/p>\n<h2 class=\"p1\">The Ethereum Community Eyes Increased Scalability With The Dencun Upgrade<\/h2>\n<p class=\"p1\">The Ethereum community is looking forward to the release of the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/ethereum-developers-delay-the-security-enhancing-dencun-hardfork-heres-why\/?utm_source=24hrsupdatealtcoin\">Dencun upgrade<\/a>, expected to increase the blockchain\u2019s stability, according to a report by Goldman Sachs (GS) on Thursday.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p class=\"p1\">According to the report, the upgrade\u2019s \u201cprimary impact will be to increase its data availability for layer-2 rollups via proto-danksharding, resulting in a reduction of rollup transaction costs which will be passed on to end users.\u201d<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p class=\"p1\">Layer 2 protocols are built on top of the Layer 1 blockchain, in this case, Ethereum, and are often referred to as off-chain systems or even separate blockchains.<\/p>\n<p class=\"p1\">Rollups function by processing transactions on a separate faster; they are cheaper, and more scalable blockchains that lodge the transactions onto the parent blockchain (layer 1) later.<\/p>\n<p class=\"p1\">The Dencun upgrade will significantly \u201cenhance Ethereum\u2019s scalability via rollups\u201d and is expected to have a positive effect on \u201cgas fees and improve the network\u2019s security.\u201d<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p class=\"p1\">This would be the next major upgrade after Shapella which achieved full staking status for Ethereum. In other words, after the upgrade investors were able to withdraw staked Ether on the Beacon Chain together with the rewards earned.<\/p>\n<p class=\"p1\">Shapella upgrade became a great boost to Ethereum staking, especially on liquidity staking platforms like Lido and Rocket Pool.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<h3 class=\"p1\">Related Articles<\/h3>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<div class=\"m-on mobiless\">\n<div id=\"social-section-new\">\n<p>\u2713 Share:<\/p>\n<p>                                  <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new wp_new\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/ethereum-price-prediction-eth-rally-hits-pause-ahead-of-imminent-dencun-upgrade-breakout\/\" style=\"display: block\">  <i class=\"fa fa-whatsapp\"\/><\/a><\/p>\n<div>\n                                <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new tw_new_logo\" href=\"https:\/\/twitter.com\/intent\/tweet?text=https:\/\/coingape.com\/ethereum-price-prediction-eth-rally-hits-pause-ahead-of-imminent-dencun-upgrade-breakout\/\"><br \/>\n  <img loading=\"lazy\" decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" class=\"mb-1\" alt=\"coingape\" width=\"30\" height=\"30\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"30\" height=\"30\"\/><\/noscript><br \/>\n<\/a>\n                                <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>          <!-- \n\n<div class=\"m-on pl-2 pr-2\">\n            \n\n<div class=\"row\">\n            \n\n<div class=\"col-6 pr-2\">\n         \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-7-crypto-marketing-firms-of-the-year\/?utm_source=abovesidebartabnews&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\"http:\/\/www.w3.org\/2000\/svg\"%20viewBox='0%200%20834%20833'%3E%3C\/svg%3E\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\" ><noscript><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/noscript><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                  \n\n<div class=\"col-6 pl-2\">\n                 \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-10-web-3-games-to-explore-in-2023-here-list\/?utm_source=priceanalysisbar&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\"http:\/\/www.w3.org\/2000\/svg\"%20viewBox='0%200%20834%20833'%3E%3C\/svg%3E\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/23134356\/jpg_20221223_134223_0000.jpg\" ><noscript><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/23134356\/jpg_20221223_134223_0000.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/noscript><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                <\/div>\n\n\n        <\/div>\n\n                    --><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA162589\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>John is a seasoned crypto expert, renowned for his in-depth analysis and accurate price predictions in the digital asset market. As the Price Prediction Editor for Market Content at CoinGape Media, he is dedicated to delivering valuable insights on price trends and market forecasts. With his extensive experience in the crypto sphere, John has honed his skills in understanding on-chain data analytics, Non-Fungible Tokens (NFTs), Decentralized Finance (DeFi), Centralized Finance (CeFi), and the dynamic metaverse landscape. Through his steadfast reporting, John keeps his audience informed and equipped to navigate the ever-changing crypto market.                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/382b200bdfe14eeef2a23454909dbc78?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/382b200bdfe14eeef2a23454909dbc78?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/382b200bdfe14eeef2a23454909dbc78?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/382b200bdfe14eeef2a23454909dbc78?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD162589\">\n<p>  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<p><!-- \n\n<div class=\"container p-1 mb-3  mt-4 \">\n    \n    \n     \n\n<div class=\"Maintitle clgrn border-0\">\n               <span>Crypto Stories<\/span>\n                    \n                    \n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/\" class=\"viewAll p-0\">View all<\/a>\n                <\/div>\n\n\n     \n\n<div class=\"row mobileXS \">\n                     \n          \n\n<div class=\"item col-md-4\"> \n        \n\n<div class=\"Newseducation\">\n         \n\n<div class=\"Eduimg WduImg\">\n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/twitter-is-now-worth-just-33-of-elon-musks-purchase-price\/?utm_source=post&utm_medium=web-story\">\n            \n\n<div class=\"edIm StoryWebimg\"><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\"http:\/\/www.w3.org\/2000\/svg\"%20viewBox='0%200%20640%20853'%3E%3C\/svg%3E\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\" decoding=\"async\" data-lazy-src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/05\/twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720.jpg\" \/><noscript><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/05\/twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\" decoding=\"async\" \/><\/noscript><\/div>\n\n\n                \n\n<div class=\"Educontent\">Twitter is now worth just 33% of Elon Musk\u2019s purchase price <\/div>\n\n\n            <\/a>\n            <\/div>\n\n\n        <\/div>\n\n\n        <\/div>\n\n\n          \n          \n  \n              \n          \n\n<div class=\"item col-md-4\"> \n        \n\n<div class=\"Newseducation\">\n         \n\n<div class=\"Eduimg WduImg\">\n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/will-cramer-curse-strike-again\/?utm_source=post&utm_medium=web-story\">\n            \n\n<div class=\"edIm StoryWebimg\"><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\"http:\/\/www.w3.org\/2000\/svg\"%20viewBox='0%200%20640%20853'%3E%3C\/svg%3E\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"will_cramer_curse_strike_again_720\" decoding=\"async\" data-lazy-src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/05\/will_cramer_curse_strike_again_720.jpg\" \/><noscript><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/05\/will_cramer_curse_strike_again_720.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"will_cramer_curse_strike_again_720\" decoding=\"async\" \/><\/noscript><\/div>\n\n\n                \n\n<div class=\"Educontent\">Will Cramer Curse Strike Again? 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The talk majorly centered around the potential approval of Bitcoin spot exchange funds (ETFs), prompted by tale-tale signs of the US Securities and Exchange Commission (SEC) warming up to the idea. The second-largest cryptocurrency broke out [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":182251,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-182250","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/182250","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=182250"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/182250\/revisions"}],"predecessor-version":[{"id":182252,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/182250\/revisions\/182252"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/182251"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=182250"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=182250"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=182250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}