• Advertise with us
  • Pricing
  • Submit News
Instagram Twitter Facebook Telegram Youtube Linkedin
EdaFace Newsfeed
EdaFace Newsfeed EdaFace
  • News
    • Price Analysis

    Main News

    • Crypto News
    • Bitcoin and BTC
    • Altcoin News
    • Security & Hacks
    • ICO & Token Sales
    • Interviews & Profiles

    Information

    • Press Release
    • Research Report
    • Regulations, Law & Policy
    • Community/Guest Post
    • Events & Conferences
    • Tutorials & Guides

    Market

    • Technical Analysis
    • Price Analysis
    • Cryptocurrency Price Prediction
    • DeFi (Decentralized Finance)
    • Mining & Staking

    Other Categories

    • NFTs & Digital Art
    • Opinion & Editorials
    • Tech Innovations
  • Cryptocurrencies
    • Coin Ranking
    • Trending
    • EDA Token
  • Exchanges
    • Spot
    • Derivatives
    • DEX
    • EDA Plantation
  • Verification Centre
    • Rug Pull Check
    • Blockchain Ecosystem
    • EDA Token
  • MarketPlaces
    • NFT Marketplace
    • Digital Literature
    • Digital Mall
    • P2P Market
    • Metaverse
  • EDA Academy
More
  • News
    • Price Analysis
  • Cryptocurrencies
    • Coin Ranking
    • Trending
    • EDA Token
  • Exchanges
    • Spot
    • Derivatives
    • DEX
    • EDA Plantation
  • Verification Centre
    • Rug Pull Check
    • Blockchain Ecosystem
    • EDA Token
  • MarketPlaces
    • NFT Marketplace
    • Digital Literature
    • Digital Mall
    • P2P Market
    • Metaverse
  • EDA Academy
Reading: Why Ethereum (ETH) Price Is Down Today?
Share
Sign In
EdaFace Newsfeed
EdaFace Newsfeed EdaFace
EdaFace Newsfeed > Latest News > Price Analysis > Why Ethereum (ETH) Price Is Down Today?
Price Analysis

Why Ethereum (ETH) Price Is Down Today?

vitalclick
Last updated: September 4, 2024 7:43 pm
5 months ago
Share
SHARE

Contents
ETH Crypto Fails To Break Out Of Its Crucial Resistance ZoneEthereum Spot ETF Struggles To Gain MomentumWill The ETH Price Go Up?

The crypto market crash today has resulted in a liquidation of 3.59% from its global valuation. This came hours after the U.S. stock market correction with Nvidia Wiping out $279 Billion from its portfolio.

Following this, Bitcoin price plunged below $58,000 and recorded a low of $55,673.16. On the other hand, the altcoin leader, Ethereum price experienced a similar price trend by plunging below its $2.4K level.

Considering the historic market market pattern, will ETH Coin Price bleed this September or make a bullish comeback and reclaim the $3K mark?

ETH Crypto Fails To Break Out Of Its Crucial Resistance Zone

The Ethereum token has failed to break out of its resistance trendline of the descending channel pattern. This has resulted in it losing 6.18% of its portfolio within the past 48 hours. With a 24-hour trading volume of $15.800 Billion, it has recorded a low of $2,313.27.

Ethereum Price Analysis September 2024
TradingView: ETH/USDT

The EMA 50/200-day has recorded a constant decline in the 1D time frame. This highlights an increase in the selling-over-buying pressure within the crypto space.

The Relative Strength Index (RSI) has failed to break out of its average trendline, resulting in it recording a sharp drop in the Ethereum price chart. Moreover, with it hovering below its neutral point, it suggests a weak bullish sentiment in the market.

Ethereum Spot ETF Struggles To Gain Momentum

The ETH ETF has resumed September on a bearish note by recording its first negative day. Reportedly, on the 3rd the ETFs recorded a negative total flow by breaking its streak of 2 neutral flow days. Fidelity’s “FETH” was the only ETF to record a positive flow with $4.9 Million.

Notably, 7 out of 9 ETFs have recorded a neutral flow with Grayscale’s “ETHE” losing $52.3 Million. With this, the total flow for the day concluded at -47.4 Million.

Source: SoSoValue

Out of the last 13 trading days, Ethereum ETF has recorded a negative flow for 11 days, or 84.42%. On the other hand, it has recorded a positive flow for only one day, or 7.79%, and a neutral flow for also one day, or 7.79%.

With the rising bearish sentiment for the Ethereum ETFs in the market, the price of ETH hints at a potential plunge toward its lows.

Will The ETH Price Go Up?

If a bullish reversal could push the altcoin leader toward its resistance level of $2,530. Furthermore, if the market holds the price at that level, the Ethereum price may surge toward its important resistance level of $2,800 during the upcoming weeks.

On the flip side, increasing bearish influence could pull the price of ETH crypto toward its crucial support level of $2,175 in the coming time. 

Concerned about the future of your ETH holdings? Read our Ethereum (ETH) Price Prediction 2024-2030

You Might Also Like

Top 3 Altcoins To Buy For A 40% Profit This Week!

May Undergo a 10x Rally to Rise above $4 in 2024

Will Buyers Break $658 to Target $863?

SUI Bulls Defending the Support-A 50% Jump Could be Imminent if This Trade Plays Out Well

Why Are Axie Infinity (AXS) And Sandbox (SAND) Price Up Today?

TAGGED:Price Analysis
Share This Article
Facebook Twitter Email Print
Previous Article Why Is Ethereum Price Performing Less Well?
Next Article Experience Speaks and 3 Senior Experts Evaluate Crypto Markets
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Crypto Live Widget

Follow for Live Updates
Subscribe to our newslettern

Get Newest Articles Instantly!

- Advertisement -
Ad imageAd image
Popular News
Cryptocurrency Regulation in Russia : Blockchain Development
Current Cryptocurrency Regulations in India
Explore Cryptocurrency Regulation in South Korea
2 Altcoins Win Trial
Claimed Bitcoin Inventor Craig Wright Gets Shocked in Court! His Assets Are Frozen

Company

  • Vision
  • Mission
  • LitePaper
  • Whitepaper
  • Core Values
  • Branding
  • Teams
  • Career Listing
  • FAQ
  • Welfare Donations

Products

  • EDA Token
  • Blockchain Literature
  • EdaFace Dex
  • EdaFace Mall
  • Listing Platforms
  • Newsfeed
  • NFT Marketplace
  • P2P Market
  • Scam Verification Centre
  • School of Crypto

Legal

  • Term of Use
  • Privacy Policy
  • Disclaimer
  • Listing T&C
  • Listing Platforms
  • Eda Token Policy

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

EdaFace

About US

EdaFace is a user interface aggregator that brings all the various functionalities of the crypto industry onto a single platform! You can advertise, launch and crowdfund your crypto project via EdaFace Launchpad and Newsfeed.

Contact us: support@edaface.com

Follow us

Instagram Twitter Facebook Telegram Youtube Linkedin

Copyright © 2022 – 2024. EdaFace is a product of Emerging Digital Age (EDA) Pty Ltd. All Rights Reserved.

Join Us!
Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.
EdaFace
Welcome Back!

Sign in to your account

Lost your password?