📈 1. Vitalik's singing and Ethereum's rise
At the Token2049 event in Singapore, Vitalik Buterin surprised the audience with an on-stage performance, which coincided with the price of Ethereum rising by 10% in one week. This performance increased the enthusiasm of traders and pushed Ethereum above major resistance levels.
🔄 2. Massive Ethereum transfers to exchanges
On September 20, after Ethereum crossed the $2,400 barrier, 150,000 ETH were transferred to major exchanges like Binance and Coinbase, sparking speculation of a potential sell-off, but it remains uncertain whether these assets were actually sold.
📊 3. Ethereum Price Analysis $ETH
Ethereum has managed to establish local support around the $2,400 level. Traders are looking to break above the $2,800 level to boost the bullish momentum, with the $3,500 level as the next big target. But if it fails, it could retest the $2,000 level.
🏦 4. Ethereum Foundation Moves
The Ethereum Foundation recently sold over 300 ETH, bringing its total sales to 650 ETH for the week. These sales indicate the foundation’s strategy for managing its assets, but they do not mean a significant change in the market.
📉 5. Ethereum to Bitcoin ratio
The Ethereum to Bitcoin ratio has hit a 40-month low, reflecting Ethereum’s underperformance relative to Bitcoin. Despite institutional interest and the approval of Ethereum ETFs in July, Ethereum continues to lag Bitcoin.
📅 6. Future expectations
Despite recent challenges, Ethereum has shown major strength. Traders will be watching closely to see if Ethereum can regain its momentum against Bitcoin in the coming weeks.
👀 Stay tuned for more updates on Ethereum as the market continues to evolve.
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