Ethereum stays trapped between key moving averages as weak volume persists
Ethereum remains squeezed between two key moving averages, while declining trading volumes have yet to provide enough momentum for a breakout from the current range.
The Ethereum Foundation has announced the launch of the Platåberget testnet, which will serve as an early testing ground for the upcoming Glamsterdam upgrade. The network is open to public participation and is designed to allow developers to test the most significant protocol changes well in advance.
Key changes include Enshrined Proposer-Builder Separation, Block-Level Access Lists, and revised gas pricing intended to support a gas limit of roughly 200 million. The maximum smart contract size is also expected to increase from 24 KiB to 64 KiB. Glamsterdam is set to progress through the longer-term Sepolia and Hoodi testnets before eventually reaching mainnet.
Key moving averages will determine ETH’s next major move
As noted previously, ETH’s next major short- and medium-term move will likely be determined by a break of one of its key SMAs.
The 50-day SMA near $1,850 remains the most important support level. A sustained move below it would significantly increase the risk of a further decline toward $1,700.
On the upside, buyers need to clear the 200-day SMA near $2,000. A decisive break above this level could accelerate the advance toward the next target around $2,100.
Another factor is the noticeable decline in trading volumes since the beginning of August. Until larger market participants return in greater numbers, ETH may continue to trade within the current range without developing sustained directional momentum.
Low volatility and weak volume keep ETH waiting for a catalyst
Ethereum has remained range-bound for an extended period, while volatility has fallen toward multi-year lows. This combination points more to a prolonged lull than to a lack of potential for a significant move.
Trading activity can traditionally weaken during the summer months, so a recovery in volume could quickly change the current dynamics. Once ETH breaks out of its prolonged consolidation, the move could become considerably more directional, particularly if the breakout coincides with the return of larger market participants.
Latest Ethereum News
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
