{"id":116059,"date":"2024-10-19T20:02:48","date_gmt":"2024-10-19T13:02:48","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=116059"},"modified":"2024-10-19T20:02:48","modified_gmt":"2024-10-19T13:02:48","slug":"ethereums-promised-upgrades-could-aid-price-recovery-but-until-then","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=116059","title":{"rendered":"Ethereum&#8217;s promised upgrades could aid price recovery, but until then&#8230;"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<ul>\n<li><em>Ethereum has faced rejection from the $2.7k resistance zone since August<\/em><\/li>\n<li><em>The climbing leverage ratio metric highlighted why a breakout might be unlikely<\/em><\/li>\n<\/ul>\n<p><a href=\"https:\/\/ambcrypto.com\/predictions\/ethereum-price-prediction\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Ethereum [ETH]<\/a>, at press time, was trading within a range that reached from $2.8k to $2.2k. In particular, the $2.8k region has served as a steady <a href=\"https:\/\/ambcrypto.com\/ethereum-price-prediction-whats-next-as-eth-stalls-near-2700\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">supply zone<\/a> since early August. It also has confluence with the 50% Fibonacci retracement level.<\/p>\n<h2>Examining the worrying price trends<\/h2>\n<p>The ETH\/BTC chart has been trending south for just over 18 months. While <a href=\"https:\/\/ambcrypto.com\/predictions\/bitcoin-price-prediction\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Bitcoin [BTC]<\/a> is trading 8% below its ATH, Ethereum is 46.3% away from its ATH. The altcoin\u2019s performance must be looked at within the context of Vitalik Buterin\u2019s vision for the next possible upgrade, \u201c<a href=\"https:\/\/x.com\/VitalikButerin\/status\/1846713513097810296\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">The Surge<\/a>.\u201d Especially some of its goals regarding transactions per second and maximizing interoperability between L2s.<\/p>\n<div id=\"attachment_434518\" style=\"width: 1950px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-price.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-434518\" class=\"wp-image-434518 size-full\" alt=\"Ethereum 1-day Chart\" width=\"1940\" height=\"1010\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-price.png 1940w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-price-300x156.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-price-1024x533.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-price-768x400.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-price-1536x800.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-price-1200x625.png 1200w\" data-lazy-sizes=\"(max-width: 1940px) 100vw, 1940px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-price.png\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-434518\" class=\"wp-image-434518 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-price.png\" alt=\"Ethereum 1-day Chart\" width=\"1940\" height=\"1010\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-price.png 1940w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-price-300x156.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-price-1024x533.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-price-768x400.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-price-1536x800.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-price-1200x625.png 1200w\" sizes=\"auto, (max-width: 1940px) 100vw, 1940px\"\/><\/a><\/p>\n<p id=\"caption-attachment-434518\" class=\"wp-caption-text\">Source: ETH\/USDT on TradingView<\/p>\n<\/div>\n<p>The performance of an asset is a clear insight into what the market believes the asset\u2019s value is, and what it can be. Sometimes, hype and misinformation can skew these beliefs, leading to overvalued or undervalued assets.<\/p>\n<p>The performance of Ethereum can be partly explained by inflationary concerns since the Dencun upgrade, but it is just a small part of the puzzle. The proposed improvements for the Proof of Stake system and the upgrades considered for the network at large could, when implemented, address network revenue, user growth, adoption, and other issues.<\/p>\n<p>In turn, this could drive demand. As things stand, a rocky ride could be ahead for ETH on the price charts.<\/p>\n<h2>Clues from the derivatives market<\/h2>\n<div id=\"attachment_434517\" style=\"width: 2570px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-ELR-comp.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-434517\" class=\"wp-image-434517 size-full\" alt=\"Ethereum Estimated Lev Ratio\" width=\"2560\" height=\"1440\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-ELR-comp.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-ELR-comp-300x169.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-ELR-comp-1024x576.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-ELR-comp-768x432.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-ELR-comp-1536x864.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-ELR-comp-2048x1152.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-ELR-comp-1200x675.png 1200w\" data-lazy-sizes=\"(max-width: 2560px) 100vw, 2560px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-ELR-comp.png\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-434517\" class=\"wp-image-434517 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-ELR-comp.png\" alt=\"Ethereum Estimated Lev Ratio\" width=\"2560\" height=\"1440\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-ELR-comp.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-ELR-comp-300x169.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-ELR-comp-1024x576.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-ELR-comp-768x432.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-ELR-comp-1536x864.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-ELR-comp-2048x1152.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-ELR-comp-1200x675.png 1200w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\"\/><\/a><\/p>\n<p id=\"caption-attachment-434517\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/cryptoquant.com\/asset\/eth\/chart\/market-indicator\/estimated-leverage-ratio?exchange=all_exchange&amp;window=DAY&amp;ema=0&amp;priceScale=log&amp;metricScale=linear&amp;chartStyle=line\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">CryptoQuant<\/a><\/p>\n<\/div>\n<p>The estimated leverage ratio (ELR) is calculated by dividing the Open Interest by the exchange\u2019s coin reserves. Coinglass data also revealed that Open Interest has risen from $10 billion to $13 billion for ETH since the second week of August.<\/p>\n<p>This helped explain the rising ELR. However, with the price trading beneath a key resistance, it can be interpreted as a warning sign for traders.<\/p>\n<div id=\"attachment_434558\" style=\"width: 1483px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-liq-heatmap.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-434558\" class=\"wp-image-434558 size-full\" alt=\"Ethereum Liquidation Heatmap\" width=\"1473\" height=\"873\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-liq-heatmap.png 1473w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-liq-heatmap-300x178.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-liq-heatmap-1024x607.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-liq-heatmap-768x455.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-liq-heatmap-1200x711.png 1200w\" data-lazy-sizes=\"(max-width: 1473px) 100vw, 1473px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-liq-heatmap.png\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-434558\" class=\"wp-image-434558 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-liq-heatmap.png\" alt=\"Ethereum Liquidation Heatmap\" width=\"1473\" height=\"873\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-liq-heatmap.png 1473w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-liq-heatmap-300x178.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-liq-heatmap-1024x607.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-liq-heatmap-768x455.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MD-4-ETH-liq-heatmap-1200x711.png 1200w\" sizes=\"auto, (max-width: 1473px) 100vw, 1473px\"\/><\/a><\/p>\n<p id=\"caption-attachment-434558\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/www.coinglass.com\/pro\/futures\/LiquidationHeatMapNew\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">Coinglass<\/a><\/p>\n<\/div>\n<p>The liquidation heatmap with a 1-month lookback period noted that the $2,730 zone is cluttered with liquidation levels. The 3-month chart showed that the $2,730-$2,850 area is important.<\/p>\n<p>Together with the price action, we can see that a bearish reversal from these levels is a likelihood that traders must be prepared for.<\/p>\n<hr\/>\n<p style=\"text-align: center;\">Read <a href=\"https:\/\/ambcrypto.com\/predictions\/ethereum-price-prediction\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Ethereum\u2019s [ETH] Price Prediction<\/a> 2024-25<\/p>\n<hr\/>\n<p>Overall, the lack of organic demand and L2s capturing more participants and transaction activity remains a problem for the mainnet and its investors. Technical analysis gave clues that ETH bulls might lack the strength to drive the crypto\u2019s price beyond $2.9k too.<\/p>\n<div class=\"post-nav\">\n<div class=\"previous-blog\">\nPrevious: <a href=\"https:\/\/ambcrypto.com\/will-flokis-price-stall-or-fly-heres-what-the-answer-depends-on\/\" rel=\"next\" data-wpel-link=\"internal\">Will FLOKI\u2019s price stall or fly? Here\u2019s what the answer depends on!<\/a> <\/div>\n<div class=\"next-blog\">\nNext: <a href=\"https:\/\/ambcrypto.com\/pepe-is-a-buy-the-dip-opportunity-on-the-cards-for-the-memecoin\/\" rel=\"prev\" data-wpel-link=\"internal\">PEPE \u2013 Is a \u2018buy the dip\u2019 opportunity on the cards for the memecoin?<\/a> <\/div>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/ambcrypto.com\/ethereums-promised-upgrades-could-aid-price-recovery-but-until-then\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum has faced rejection from the $2.7k resistance zone since August The climbing leverage ratio metric highlighted why a breakout might be unlikely Ethereum [ETH], at press time, was trading &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=116059\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-116059","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/116059","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=116059"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/116059\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=116059"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=116059"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=116059"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}