$ETH Price Hit Hard With 35% Drop: What This Means for Investors - CoinPedia Analytics

Ethereum’s price has dropped over 35% since July, now trading at $2,329. The increase in ETH on centralized exchanges by 250,000 units signals declining demand, particularly from institutional investors. Weak U.S. spot Ether ETFs also reflect this trend.

Analyst Alan Santana suggests Ethereum’s bearish momentum could persist, with the MACD and RSI in bearish zones. The ETH/BTC pair has also been shrinking, indicating no altseason yet as investors favor Bitcoin and stablecoins.

A relief rally may occur in October or November, while the crypto market could shift after the U.S. Federal Reserve's interest rate cuts in September.