Ethereum price prediction: Can ETF optimism offset bearish trend? ETH falls 3.22%

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Ethereum drops 3.22% to $3,211 today

Highlights

Approval of spot Ethereum ETFs in the US in July, featuring BlackRock's ETHA and Grayscale’s Ethereum Mini Trust, has boosted institutional investment and new fund inflows.
Core protocol upgrades like the Dencun upgrade reduced transaction fees and improved scalability, with ongoing development and future forks targeting further enhancements.
Network activity remains strong, with over 36 million ETH staked and daily active addresses surpassing 800,000, reflecting robust adoption and utility.

ETF inflows and protocol upgrades boost institutional adoption

Ethereum has seen regulatory milestones recently with the approval of spot Ethereum ETFs in the US in July 2024, which has driven increased institutional investment and new fund inflows, including products such as BlackRock's ETHA and Grayscale’s Ethereum Mini Trust. Core protocol upgrades like the Dencun upgrade have reduced transaction fees and improved scalability, while ongoing development targets continued enhancements through future forks. Network activity remains resilient with more than 36 million ETH staked and daily active addresses surpassing 800,000, underscoring ongoing adoption and utility. Foundational discussions about protocol simplification and sustainability, led by Vitalik Buterin, also continue to shape sentiment.

Mixed momentum signals as intraday volatility shifts to downside

Momentum signals are mixed on the daily chart, with the MACD and ADX indicating underlying bullish momentum, while the Stochastic RSI and CCI suggest a neutral to overbought environment. Bull/Bear Power reads as overbought, pointing to intraday dominance by buyers, although the daily decline of 3.22% signals seller pressure taking over through most of the session. There was no notable opening gap, but the price is now closer to today’s low; intraday volatility has been moderate, and the tone has shifted to downside pressure after the open. Oscillators and momentum indicators diverge, with some highlighting buyer interest and others flashing overbought warnings, reinforcing an uncertain short-term outlook.

Sideways trade expected as downside risk outweighs recovery

Over the next five trading days, ETH is likely to remain within a volatility band of $3,104 to $3,317 relative to current levels. The probability of a price increase is low (less than 20%), making further declines the more probable scenario. Baseline expectation is for ETH to trade sideways between $3,145 and $3,317 as buyers and sellers remain balanced. A move above $3,317 could trigger a recovery toward higher resistance, while a break under $3,145 may accelerate declines toward support near $3,104.

Anton Kharitonov, Analyst at Traders Union, sees Ethereum holding short- and medium-term support, but warns the technical setup remains bearish overall. Regulatory progress and network upgrades signal resilience, yet market sentiment is weighed down by seller pressure and volatile, conflicting momentum signals. He believes the likelihood of any substantial upward move is limited in the coming days, favoring a sideways or declining scenario unless key resistance breaks. "Until ETH convincingly reclaims $3,317, I remain cautious on further upside."

Last time, analysts noted that Ethereum remains on the defensive after a sharp selloff, with price action and momentum indicators confirming persistent downside pressure as the asset trades below key moving averages and struggles to reclaim resistance above the $3,300 zone. Support is seen near $3,150, while flows and derivatives metrics indicate a lack of fresh demand, leaving the market vulnerable to further corrective moves unless buying interest returns convincingly.

Source of Data: ETH Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.