3rd September 2024, Wyoming.
The question that arises now is “What’s cooking after having the toughest month Ethereum?”. The traders and investors are eager to know what is coming. Following a sharp decline in August, the fifth largest crypto coins by market capitalization, is slowly coming back on track. Although, the upcoming events remain unclear.
Can Ethereum gain its foot back, or does the turbulence still lie? Recent setbacks in the Ethereum market have halted numerous issues such as unfavourable market performance, regulatory compliances. Likewise, the ongoing transition from Ethereum 2.0 is still a struggle.
Market analysts are keen on learning about key levels of support. If Ethereum is to rebound, then it needs to find support above the $1,600 mark. But if it goes down further it will continue to drop and this will be very bad for business.
However, many people still have confidence in its long-run growth on the right side of this cryptocurrency due to the advancement and development of Ethereum and its products.
So what now? The next few months will be critical in determining Ethereum’s direction.
Whether it will begin an upward trend or stay in a decline. Like all things crypto-based, the only thing you can be sure of is the fact that one can never be too sure.
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