🔥 Ethereum Price Set For $2k or $4k? Here’s What To Expect In August - CoinGape

🌐 Ethereum Stability: Ethereum remained steady on Thursday, despite the recent sell-off after the CPI release. While the outlook is bullish, a potential death cross could threaten the uptrend in Q3.

📉 Sell-Off Possible: ETH might drop to $2,000 or lower due to decreased derivatives volume and open interest. It’s consolidating between $2,060 support (200-day EMA) and $2,817 resistance (50-day EMA & 50% Fibonacci).

⚠️ Death Cross Warning: A death cross may form, signaling a bearish trend toward $1,500. The RSI at 42 suggests more downside potential before a rebound above $4,000.

📊 Recovery Potential: ETH's descending channel since March 2024 could reverse if $2,500 support holds, possibly leading to a bull flag breakout targeting $3,000, $3,500, and $4,000.

💡 Market Sentiment: Ethereum ETFs saw three days of net inflows, signaling improved sentiment, with $10.77 million in inflows on Wednesday reducing outflows to $365.89 million.