It seems that the price of ETHEREUM (ETH) ends in August, with more than 23 % and breaking a series of negative offers for negative August. Unlike Bitcoin, who struggled during the month, the price of ETH showed flexibility.
However, September was historically one of the most weak Ethereum, with only 3.20 % marginal gains in 2024 and 1.49 % in 2023 after a series of September Red before. Now, with mixed signals that flash the plans, the ETH can go for a volatile month.
Long -term holders may book profits
One of the main scale to see is a net profit/unrealized loss of Ethereum (NUPL), which measures the total profitability of my bearer.
High NUPL means that most of the portfolio sits on profits, often a sign that some may make profit. ETHEREUM holder is currently noupl at 0.62, near height for three months.
In the past, similar levels have sparked corrections. On August 17, when NUPL touch 0.63, ETH decreased from $ 4,475 to $ 4,077 (-8.9 %). Later that month, at 0.66, ETH decreased from $ 4,829 to $ 4,380 (-9.3 %). This indicates that September can bring fluctuations or work related to the extent.
Historically, September was not the most powerful month for ETH. This date, along with high NUPL, supports cutting.
To get TOKEN TA and the updates on the market: Do you want more distinctive symbol visions like this? Subscribe to the Daily Crypto Daily Crypto Newsletter Harsh Notariya here.
However, long -term basics still support price increase. In an exclusive interview with Beincrypto, Kevin, Rusher, CEO of Raac ::
“In September, I expect drivers to remain in order for the ETHEREUM price to remain as it is today, which is the key between these increasing trends for companies that buy ETH for their wardrobe. In fact, this week only, Standard Chartred named this main reason for increasing its target price to 7,500 dollars, as mentioned.”
The trend of this treasury, along with the role of ETHEREUM in the Defi and Asset Asset (RWA) code, can help expand negative moves even if fluctuations continue in the short term.
The basis of the cost highlights the light of the heat light on the critical resistance
Another important scale is the basis of the cost foundation, which shows where the eth has last accumulated. These areas often work as natural support or resistance.
The strongest support collection is between $ 4,323 and $ 4,375, with more than 962,000 ETH. Below, there are additional areas at $ 4,271 – 4,323 dollars (418,872 ETH) and $ 4,219 – 4,271 dollars (329,451 ETH), providing temporary warehouses in the event of an ETHEREM price.
The heavier challenge lies higher. Between $ 4,482 and 4,592 dollars, approximately 1.9 million ETH was collected, making this a huge resistance area.
If the ETH price has wiped this, the momentum may extend about $ 4,956. More about this later when we discuss the ETHEREUM price procedure
Technical plans indicate the cutting price of ETHEREUM
The ETHEREUM price scheme for two days shows that it has decreased down the upward trend line. This does not confirm a landmark, but it indicates the fading momentum.
The RSI, which measures the speed and strength of price movements, has a declining difference – with low prices while RSI has decreased.
This usually indicates the weakening of strength and the possibility of trading related to the extent, and more if it is formed on a longer time frame.
If the ETH regains $ 4,579 (almost the division of cost resistance), the upscale momentum may return, with the main goal at $ 4,956.
On the negative side, see $ 4,345 and $ 4,156 as important support levels. A break can open less than 4,156 dollars additional risks on the downside, while a sustainable contract is more than $ 4,579 keeps $ 4,956 (approximately $ 5,000, which is the main psychological level) on hand.
However, for Ethereum, this level cannot be the beginning of something larger, as Rusher summarizes.
“Yes, $ 5,000 is still a meaningful milestone. Psychologically, investors like round numbers, in addition to being the highest new level ever. Once ETH exceeds $ 5,000, it will eventually become a strong support level,” he added.
However, if the price of Ethereum is closed less than $ 4,156 with a two -day full candle, the bullish narration may take some time to achieve it.
With the long -term NUPL holder closed at the highest level of 3 months, you find the intersection conversations more weight.
Disintegration
In line with the guidance of the confidence project, this price analysis article is for media purposes only and should not be considered financial or investment advice. Beincrypto is committed to accurate and unbiased reporting, but market conditions are subject to change without notice. Always perform your research and consult with a professional before making any financial decisions. Please note that the terms, conditions, privacy policy have been updated and the evacuation of responsibility.