NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: SOL Strategies: The First Solana Treasury Company Listed On Nasdaq
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: SOL Strategies: The First Solana Treasury Company Listed On Nasdaq

Ethereum Might Crash After The Current Supply Zone, Analysts Predict

Sarah
Sarah
3 years ago
2 mins read
Ethereum Might Crash After The Current Supply Zone, Analysts Predict

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The crypto market is spiraling downwards, especially Ethereum and other altcoins. The overall market cap lost $50 billion last weekend, leaving the current figure at $950 billion. Unfortunately, it eventually lost the $1 trillion mark. The price fall in Bitcoin, Ethereum, and other crypto caused the recent plunge.

The trend emerged after the August 26 Federal Reserve annual meeting. Jerome Powell made a speech reiterating the plans of the agency to continue its hawkish approach to fighting inflation. After the speech, the crypto and equities market plunged.

Related Reading: Bitcoin Taker Buy/Sell Volume Spikes Up As Price Experiences Volatility

From then till the morning hours of August 29, crypto prices continued falling. However, at the time of writing mid-day on August 29, there is a positive move in the crypto market. Ethereum has regained 2.63% of its early morning losses and is now trading at $1,517.81.

The price correction started early on August 29, placing ETH’s price at $1,451 and reducing its market cap to $177 billion. Now, ETH is trading under two major supply zones, according to IntoTheBlock data.

Analyst Explains Bearish Prediction

According to Martinez, the two supply zones Ethereum traded were $1,475 and $1,560. In the first supply zone, 585K addresses bought a total of $2.81 million worth of ETH. 526K addresses hold 3.44 million worth of ETH in the second zone. The support can only be at $1,335, showing that 412K addresses bought 2.2 million worth of ETH.

Ethereum Might Crash After The Current Supply Zone, Analysts Predict
Source: IntoTheBlock

Based on the support zones, Ali Martinez predicts an imminent bearish trend. Secondly, Martinez pointed out that the daily Ethereum network growth in the space has been at its lowest in two years, which doesn’t signify a positive position.

According to Martinez, the daily new addresses on Ethereum saw the last spike in 2020 when 49,700 was created the same day.

ETH Might Crash After The Current Supply Zone, Analysts Predict
Source: Glassnode

The number of addresses created on the Ethereum network has declined instead of growing. This state is also an indication of an extended price correction period.

What About The Ethereum Merge?

Many investors were optimistic that the upcoming upgrade would push Ethereum and the overall crypto market upwards. But the current trend of events signifies that the Merge may have already been Priced In.

Related Reading: Bitcoin MVRV Ratio Is Back Below 1 As Average Holder Slips Into Loss

For instance, the end of June saw Ethereum at $1,000 after even dipping below $9,93 on June 18. But the crypto pulled back firmly, gaining more than 90%. However, the current figure shows a 25% retracement from that peak as the price keeps fluctuating between $1,450 and $1,550.

ETH Might Crash After The Current Supply Zone, Analysts Predict
Ethereum price trends above $1,540 on the chart l ETHUSDT on Tradingview.com

From all the indications, the power of macro has surpassed the optimism of the upcoming upgrade. Now, investors are looking at the $1,335 level, which might be ETH’s last supply zone. A more significant correction might follow if the price dips beyond that level.

Featured image from Pixabay, charts from TradingView.com
Tweet123Share196ShareSend
Sarah
Sarah

Sarah

Sarah is a journalist who continues to share her passion for writing through her writing in DeFi, FinTech, and Cybersecurity.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin

Tighter Premiums Put Crypto Treasuries On Risky Road, According To NYDIG

Wall Street’s appetite for companies holding Bitcoin on their balance sheets is cooling, and investors are starting to show it,...

Christian Encila 5 hours ago
crypto-sec-signal-alarme-ordinateurs-quantiques

Crypto et SEC : de la fragilité face aux ordinateurs quantiques

2028 pourrait bien sonner le glas d’une ère : les ordinateurs quantiques pourraient bientôt casser à coups d’algorithmes les systèmes...

guillaumev 6 hours ago
Ethereum Price Warning

Ethereum Price Warning – Bulls Losing Grip as Downside Risks Build

Ethereum price started a fresh recovery wave above the $4,450 zone but failed. ETH is still struggling and might slide...

Aayush Jindal 12 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ethereum Price Gains Fade

Ethereum Price To Clear $5,000 If This Level Is Broken

Sandra White 1 hour ago
Crypto news

Crypto Markets Enter Their Most Crucial Macro Week In 2025 Yet

Jake Simmons 3 hours ago

Ethereum Dominates Trading Volume Despite Market Cool-Off – Details

Sebastian Villafuerte 4 hours ago

Premium Sponsors

Press Releases

  • 仮想通貨おすすめ:ビットコイン11万7,000ドル予測と3億ドル空売りリスク

    ...

    59 minutes ago
  • ドージコイン 今後の課題:0.25ドル突破に苦戦、新しい仮想通貨に資金が流入する9月

    ドージコイン...

    1 hour ago
  • リップル 今後の価格予測:ETF承認でビットコイン級60%上昇の可能性

    リップル...

    2 hours ago
  • 3 najlepsze kryptowaluty, które możesz kupić już dziś...

    2 hours ago
  • 2025年に飛躍が期待されるGrok AI注目の仮想通貨プレセール4選

    2025年に飛躍が期待されるGrok...

    2 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.