alek harmor

As cryptocurrencies battle a steep 30% decline since their peak in March, the upcoming week promises pivotal events that could shape both the digital asset landscape and traditional markets. Eyes are fixed on these critical dates as the fate of the struggling crypto market hangs in the balance.
Key Dates to Watch:
September 10: U.S. – Trump vs. Harris Debate
A high-stakes showdown between presidential contenders Kamala Harris and Donald Trump could have unexpected ramifications for crypto markets. Both candidates have recently shown renewed interest in digital currencies—Trump with a surprisingly favorable stance, and Harris leveraging connections with key industry players. Their debate may unveil fresh insights or stir uncertainties about the future of cryptocurrency regulation, making this a crucial moment for investors.
September 11: U.S. – CPI Report
The release of the U.S. Consumer Price Index (CPI) on September 11 is more than just a data point—it’s a barometer for inflationary pressure and a potential trigger for market volatility. Following July's 0.2% uptick and a 2.9% year-over-year increase, analysts expect a slightly higher rise in August. This report could heavily influence the Federal Reserve’s next move on interest rates, with ripple effects extending into both traditional and crypto markets.
September 12: U.S. – PPI and Jobless Claims
On September 12, the Producer Price Index (PPI) and Initial Jobless Claims will be unveiled, delivering a snapshot of the economic climate. The PPI, which tracks inflation before products hit consumers, is projected to ease following July’s 2.2% gain. Meanwhile, unemployment claims, which recently hit a low of 227,000, offer a glimpse into the labor market's health. These figures will not only guide economic forecasts but could stir further turbulence or opportunity in the cryptocurrency market.
In a week filled with crucial developments, the crypto world faces significant threats and potential openings. As these events unfold, the digital asset market stands at a crossroads—will it find stability, or will further disruptions lie ahead?"

The U.S. non-farm payrolls report for August, which fell short of expectations, has sent financial markets into turmoil. The weak jobs data and persistent unemployment have fueled uncertainty about the Federal Reserve's monetary policy path.

Initial optimism for a larger rate cut was quickly dashed as investors reassessed the likelihood of a 50-basis point reduction in September. Market sentiment shifted dramatically overnight, with the odds of a 50-basis point rate cut plummeting from 55% to 30%. Both traditional and cryptocurrency markets are experiencing significant pressure.

Bitcoin's price has tumbled below $54,000 this week, following a brief dip to $52,500. The broader market downturn, exacerbated by Nvidia's decline, has dragged down cryptocurrency prices, including Ethereum, which has plummeted to $2,150. Institutional investors are pulling funds from Bitcoin spot ETFs, while the options market has shown relative stability amid the price decline.

The selling of large put options suggests that some traders are anticipating a potential price recovery or stabilization.

Bitcoin's ability to maintain its $54,000 support level will determine whether it enters a more prolonged bearish phase. U.S. stocks suffered one of their worst weeks of the year, with the Nasdaq and S&P 500 declining by 2.2% and 1.5%, respectively.

The Dow Jones Industrial Average fell by over 600 points as investors grappled with the implications of the weak labor data on interest rate policy. Despite the current downturn, some long-term cryptocurrency investors remain optimistic about Bitcoin's prospects, anticipating a rebound in the final quarter of the year.

Historically, the fourth quarter has been a favorable period for cryptocurrency markets. Many investors are watching to see if this trend continues. In the meantime, expect a volatile market.

Ethereum has been experiencing a downward trend, characterized by a significant drop after testing the lower boundary of a previously broken wedge and forming a death cross.

Despite this bearish trend, the price is now approaching a key support level, which may result in a short period of sideways movement before the next decisive action.

The prevailing downtrend in Ethereum has heightened fear and doubt among investors. Low capital inflows into spot ETH ETFs have further confirmed this sentiment, as the appearance of the death cross — where the 100-day moving average falls below the 200-day average — signals reduced market confidence.

After being rejected at the lower boundary of the multi-month wedge and the 0.5-0.618 Fibonacci levels, Ethereum’s continued decline has emphasized the strength of bearish pressure in the market.

Nevertheless, Ethereum is nearing a major support zone, around the $2.1K static level and the 0.786 Fibonacci retracement at $2,067. This zone is anticipated to attract significant buying interest, potentially leading to a short-term pause in the downtrend and a period of consolidation before the next major move.

On the 4-hour chart, ETH faced strong rejection from the resistance zone between the 0.5 ($2.6K) and 0.618 ($2.7K) Fibonacci levels, causing a continuation of the bearish momentum toward the $2.1K support. This level has been a crucial area of demand in the past, especially in early August, which suggests it may once again draw buyers interested in accumulating at these prices.
Should demand pick up at the $2.1K mark, Ethereum could see a brief consolidation phase, easing the selling pressure. However, if this key support level is broken, it could trigger a wave of liquidations, potentially pushing the price down to the $1.8K range.
The next few days will be vital in determining if Ethereum can hold above this support level or if a further correction is likely. Ethereum’s intrinsic value is closely linked to its decentralized network and active user engagement. One way to measure this engagement is through the number of unique active addresses on the network, which serves as an indicator of Ethereum’s market demand and overall valuation.

The chart highlights the 14-day moving average of Ethereum's Active Addresses, representing the distinct addresses involved in ETH transactions, both sending and receiving. Since late March 2024, there has been a sharp decline in this metric, signaling decreased user activity and lower transaction volumes.

This decline mirrors the bearish market sentiment, with diminishing demand and reduced investor involvement. For Ethereum to stage a recovery and begin a sustainable rally, this trend must reverse. A rebound in the number of active addresses would indicate renewed interest and accumulation of Ethereum, possibly paving the way for a bullish reversal.

2. Ethereum has seen a marked decline, with a sharp drop following a test of the lower boundary of a broken wedge and the formation of a death cross on the chart.

Despite this negative trend, Ethereum's price is nearing a critical support level, which could trigger a short-term phase of sideways movement as the market recalibrates.

The strong downtrend in Ethereum has led to growing uncertainty among traders and investors. The weak inflows into spot ETH ETFs have further supported this pessimism, with the recent death cross — a bearish signal where the 100-day moving average dips below the 200-day average — reinforcing a lack of market confidence.

After facing rejection at the lower boundary of the wedge and Fibonacci levels of 0.5-0.618, Ethereum’s price continued to decline, underscoring the dominance of sellers in the current market environment.

However, Ethereum is approaching a significant support area at the static $2.1K level and the 0.786 Fibonacci retracement at $2,067. This region is expected to see considerable buying interest, which could halt the downward momentum temporarily and lead to sideways consolidation before the market makes its next move.

On the 4-hour chart, Ethereum was strongly rejected from the resistance zone between the 0.5 ($2.6K) and 0.618 ($2.7K) Fibonacci levels, leading to continued selling pressure toward the $2.1K support. This level has acted as a key area of interest in the past, particularly in early August, suggesting that buyers may re-enter the market at these prices.

If demand resurfaces around the $2.1K mark, Ethereum could experience a brief period of consolidation, temporarily halting the bearish momentum. However, if the support at $2.1K fails, it could prompt a wave of liquidations, pushing the price toward the $1.8K region.

The upcoming days will be crucial in determining if Ethereum can maintain this support or if a deeper correction is in store. Ethereum’s value is closely tied to its decentralized ecosystem and the engagement of its user base. One key metric to track this engagement is the number of unique active addresses on the network, which serves as a proxy for market demand and Ethereum’s overall valuation.

The chart shows the 14-day moving average of Ethereum’s Active Addresses, capturing the total number of distinct senders and receivers of ETH transactions. Since late March 2024, this metric has seen a significant decline, reflecting lower user activity and fewer transactions.

This downward trend reflects growing bearish sentiment, with reduced demand and lower investor participation. For Ethereum to regain strength and embark on a long-term bullish trend, this metric must reverse. A rising number of active addresses would indicate renewed interest in Ethereum, suggesting stronger demand and the potential for a bullish recovery.

Zcash is a decentralized cryptocurrency that prioritizes user privacy. Unlike Bitcoin, which records all transactions publicly on the blockchain, Zcash uses cryptographic techniques to shield the identities of senders and recipients. This feature has made it popular among those seeking financial anonymity.

If circumstances fall in its favor the following year, Zcash might compete with the top-performing altcoins. 
By the end of 2025, the highest ZEC value is anticipated at $70. In contrast, negative sentiments and prolonged bearish trends could slash the price to $32. The lack of fulfilling initiatives might land the price at $45.

Zcash might establish its prominence in the industry with its inherent traits and fundamental strengths. According to CoinPedia’s formulated ZEC price prediction. Suppose the network launches upgrades to boost security, privacy, and other features to benefit the traders. The price may surpass the $50 mark by the end of 2024. If the network fails to execute its plan, then the price can flip into a bearish trap and dip below $18. Considering everyday buy and sell pressure and keeping the above factors in mind. The average price by the end of 2022 would be around $35.

Binance has announced the listing of Eurite (EURI), the new stablecoin pegged to the euro 1:1 in compliance with the MiCA regulation. A credit institution on Binance Pay issues EURI. On this occasion, the famous crypto exchange launched a promotion on Simple Earn.

The integration of EURI on Binance Pay is made possible thanks to the collaboration with Banking Circle S.A. This innovative bank stands out for its advanced technological solutions in the field of payments.

The compliance of EURI with MiCA aims to offer users a guarantee and greater protection, minimizing exchange risks, and reducing exposure to stablecoins backed by foreign currencies.

Furthermore, for European users there is also the advantage of being able to rely on the simplicity of trading in their local fiat currency, eliminating the need to calculate exchange rates.

Dogecoin is a cryptocurrency based on the popular "Doge" Internet meme and features a Shiba Inu on its logo. Dogecoin is a Litecoin fork. Introduced as a "joke currency" on 6 December 2013, Dogecoin quickly developed its own online community and reached a capitalization of US$60 million in January 2014.

The ultimate dog-themed meme coin Dogecoin has seen a major uptick in a key metric. According to data provided by CoinGlass, DOGE has rocketed 87% in trading volume.

Despite the impressive increase in trading volume, the DOGE price has dropped 5.20% in the last 24 hours. This past week Dogecoin lost a zero, dipping more than 7% amid negative investor sentiment and stock market correction.