abbasinoman714's Profile | Binance Square

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Hamster Kombat developers have named a snapshot date for airdrop

Hamster Kombat team will make a snapshot of user accounts on September 20 at 21:00 (Kiev/MSK). This was reported in the Telegram-channel of the project.

“The first season of the game is coming to an end. [...] But this is not the end. This is the beginning of something more!”, - stated in the publication.

The developers noted that a snapshot is “a static copy of the data at a certain point, which will help build a proper evaluation model for airdrop distribution.”

On September 17, the Hamster Kombat team unveiled an anti-chit strategy that resulted in some users receiving the “Cheating is Bad” achievement.

“This is a reminder to you of the importance of doing things the right way. We want to protect hard-working players and community members, and give them a fair share of airdrop,” the developers said.

The team called it “just the beginning of the journey” and announced “major updates” in the second season of the game.

As a reminder, the Hamster Kombat airdrop is scheduled for September 26.

Cryptocurrency exchanges Binance, OKX and Bybit announced the listing of the meme-token HMSTR.

Earlier journalists learned about the corporate problems of Hamster Kombat.

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Advantages and disadvantages of Tether USD

Advantages:

🔵 Stability: Pegged to the US dollar, reducing the volatility typical of other cryptocurrencies.

🔵 Liquidity: Highly accessible on many exchanges and easily convertible.

🔵 Transfer convenience: Used for instant transfers without involving banks.

Disadvantages:

🔵 Transparency: Criticism regarding insufficient transparency of reserves.

🔵 Regulatory risks: Possible legal issues due to stablecoin regulations.

🔵 Centralization: Managed by a private company, raising concerns about decentralization.
$SOL

SOL

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BNB may hit a high of $645.90

In recent days, Binance Coin has been moving sideways after a failed breakout attempt. Meanwhile, investors continue to open long positions on the cryptocurrency, expecting the price of BNB to rise soon

Let's see how the technical picture of BNB looks like now and whether we should wait for the cryptocurrency to rally in the near term.

Binance Coin in consolidation phase

Between September 6 and September 12, BNB actively tried to overcome the long-term support level at $560. However, the breakthrough failed, so by the time of writing the cryptocurrency continues to move sideways.

Meanwhile, the Chaykin indicator (CMF) reports that investor money is still flowing into BNB. The chart below shows that a bullish divergence has formed on the CMF chart. This means that the buying pressure on the asset is growing, but this growth is not reflected on the price yet.

In addition, the positive ratio of long and short positions on BNB, which currently stands at 1.04, reflects the community's bullish bias towards the asset. Such values indicate that now more and more traders are opening long positions, expecting to benefit from the growth of the asset's price.

Which five DePIN tokens are the best to invest in this September is told in a special feature.

BNB forecast: breakout above $598

If BNB has enough strength to go from a sideways trend to an uptrend, the cryptocurrency will have a chance to rise above $560. Then the next important mark will be the resistance at $598, which was formed back in July. Since then, the token has tested this level three times, but all three times - unsuccessfully.

If the breakout attempt succeeds this time, BNB will have a chance to rise to a three-month high of $645.90.

However, if it fails, BNB risks a pullback to the support level at $468.90. This would cancel the bullish outlook.
$BNB

BNB

Shiba Inu (SHIB) is approaching critical resistance Things are not going well for the popular memcoin Shiba Inu (SHIB). The cryptocurrency is now approaching an important resistance, from which it could roll back to $0.000010 Let's look into what's going on with Shiba Inu (SHIB) and what levels traders and investors should be watching for right now. Trouble is not letting up for Shiba Inu According to Glassnode, SHIB's network value to transaction (NVT) ratio spiked on September 14 and is still high. This ratio tracks the relationship between market price (or market capitalization) and transaction volume. Low values indicate that the asset is undervalued and may hint at a possible price increase, while high values signal that it is overvalued and may fall in value. The In/Out of Money Around Price (IOMAP) indicator also points to a possible fall in Shiba Inu. It shows price levels where holders have concentrated large amounts of the cryptocurrency. According to IntoTheBlock, SHIB faces strong resistance at $0.000014, where 10,780 addresses hold nearly 45 trillion tokens. This is more than the number of SHIBs between $0.000011 and $0.000013. This distribution of tokens signals that supply may exceed demand. Then the price of memcoin could fall to $0.000010. SHIB forecast: to break out of the “triangle” At the time of writing this analysis, SHIB is trading at $0.000013, having lost more than 4% in the last 24 hours. The next important resistance awaits the memcoin at $0.000014. Back in June, Shiba Inu has been moving within a descending triangle pattern. This pattern, formed by a descending upper trendline and horizontal support, usually indicates that sellers are in control and the price is likely to decline. In case of a fall below the base of the trianglea memcoin risks facing a ~20% correction, which would lower its price to $0.000010. Nevertheless, if SHIB breaks out of the triangle, the bearish thesis could be refuted. In that case, the price will get a chance to rise towards $0.000016. $SHIB {spot}(SHIBUSDT)

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Shiba Inu (SHIB) is approaching critical resistance

Things are not going well for the popular memcoin Shiba Inu (SHIB). The cryptocurrency is now approaching an important resistance, from which it could roll back to $0.000010

Let's look into what's going on with Shiba Inu (SHIB) and what levels traders and investors should be watching for right now.

Trouble is not letting up for Shiba Inu

According to Glassnode, SHIB's network value to transaction (NVT) ratio spiked on September 14 and is still high.

This ratio tracks the relationship between market price (or market capitalization) and transaction volume. Low values indicate that the asset is undervalued and may hint at a possible price increase, while high values signal that it is overvalued and may fall in value.

The In/Out of Money Around Price (IOMAP) indicator also points to a possible fall in Shiba Inu. It shows price levels where holders have concentrated large amounts of the cryptocurrency.

According to IntoTheBlock, SHIB faces strong resistance at $0.000014, where 10,780 addresses hold nearly 45 trillion tokens. This is more than the number of SHIBs between $0.000011 and $0.000013.

This distribution of tokens signals that supply may exceed demand. Then the price of memcoin could fall to $0.000010.

SHIB forecast: to break out of the “triangle”

At the time of writing this analysis, SHIB is trading at $0.000013, having lost more than 4% in the last 24 hours. The next important resistance awaits the memcoin at $0.000014.

Back in June, Shiba Inu has been moving within a descending triangle pattern. This pattern, formed by a descending upper trendline and horizontal support, usually indicates that sellers are in control and the price is likely to decline.

In case of a fall below the base of the trianglea memcoin risks facing a ~20% correction, which would lower its price to $0.000010.

Nevertheless, if SHIB breaks out of the triangle, the bearish thesis could be refuted. In that case, the price will get a chance to rise towards $0.000016.
$SHIB

SHIB

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Timing for the start of Bitcoin's new bull run

The Bitcoin bull market could start in the next 20 days, based on historical cycles and current data.

The average cycle of the first cryptocurrency begins around 170 days after the halving, with the peak forming 480 days later. As of September 17, it has been 149 days since the miner reward was halved.

🤔 Just a heads-up and food for thought.

$BTC

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Down 25% or up 55%: what to expect from Dogecoin (DOGE)

The price of Dogecoin (DOGE) has been declining for several months in a row. However, the descending wedge formed on the chart hints that a bullish reversal may be just around the corner.

Let's find out with the help of technical indicators and onchain metrics what to expect from DOGE in the coming weeks.

Dogecoin is leaning in favor of the bears

The current market sentiment around Dogecoin remains bearish. The difference between the market value and realized value (MVRV) on long and short positions - a key metric for assessing investor behavior - shows that sellers are in a more favorable position than buyers. This often indicates increasing selling pressure.

Analyzing the depth of the market shows that significant trading activity is taking place around $0.116. Previously, about 31.42 billion DOGE was bought at this level. Now there are approximately 75 million DOGE for sale.

Thus, $0.116 becomes a key resistance level for Dogecoin. Intense selling at this price level indicates that it is likely to continue to serve as a significant barrier.

DOGE price outlook: the rally is still a long way off

Dogecoin is currently trading at $0.105 within a descending wedge. To start a bullish reversal, the coin needs to consolidate at $0.108. If successful, the next target will be $0.118, a key resistance point that could open the way to further upside.

However, strong selling pressure at $0.116 could lead to a decline. If Dogecoin loses its current support at $0.094, its price could fall to $0.077, which would imply a 25% correction.

On the other hand, if Dogecoin is able to turn $0.108 into support, it could be the beginning of a breakout. In this case, the cryptocurrency has the potential to refute the bearish scenario and target $0.172 in the long term, which represents an upside of 55%.
$DOGE

DOGE

Hamster Kombat Full Details A complete overview of Hamster Kombat's value: what do you need to know about price and capitalization? Hamster Kombat is a popular tap into Telegram, around which there are a lot of rumors, noise and expectations, and the price of Hamster Kombat coin is the most discussed topic in the community and the cause of many disputes. The number of users in the sensational flagship Notcoin amounted to just over 30 million, while Hamster attracted almost 10 times more. Hamster has undoubtedly become a record-breaker in terms of the number of users and also impresses with prominent partners. However, the NOT token already has a huge impact on the cryptocurrency market, at least on the TON blockchain, memcoin has eclipsed even the mainstream cryptocurrency. For now, it cannot be said that Hamster coin has a chance to take its place. Already on September 26, Hamster will be listed on many exchanges. Recently, Binance announced the support of the project, the coin will appear on the top platform as well. The premarket for Hamster Kombat opened back in July, then the prices for the token reached incredible values, for example, the largest transaction was at a price of 238 dollars per 1 token. The value of Hamster coin is currently hovering around 5 cents, at the launch it was 7 cents. Does this mean that players' interest and faith in the project has gone down? Should we wait for a grandiose drop and big earnings of players? In the article, let's try to understand what the Hamster Kombat token is and what are the community's chances of making money in the project. The current price of the Hamster Kombat token and the factors affecting its change The price of the Hamster Kombat coin at the time of writing the review is determined by the interest of traders in the cryptocurrency on the premarket. At the moment, the growth prospect of altcoins directly depends on the situation around the US interest rate. Traders expect the Fed to lower the rate on September 18. At the moment, the Fed has left it unchanged for 8 consecutive meetings, which gives hope for a soon decline. However, it is important to understand the dynamics of cryptocurrencies after this event. For example, in 2019, after 4 meetings without changing the rate, there was a decrease in the rate, which led to a prolonged bearish trend on BTC. Altcoins had a rough time at that point. The Hamster Kombat premarket was opened in July on the Baybit exchange and several other cryptocurrency platforms. The first prices of the Hamster token indicated positive investor sentiment and averaged $0.07. However, in two months there was a lot of negative news and rumors around the game, which led to a decrease in the preliminary price, the minimum value was recorded at $0.001. Now the value of Hamster Coin on the same exchange Bybit is equal to $0.05. At the same time, the market capitalization of the token is not yet estimated in any way. And although the purchase of cryptocurrency through USDT is a sign of stability, but this does not encourage investors who are ready to sell the future drop even at reduced prices. Another fact is also important. The listing of cryptocurrencies on exchanges is most often accompanied by a price dump, as weak hands come out, that is, those who received the drop and are in a hurry to dump it regardless of the price. The value of Hamster in such a case can drop a lot. {spot}(HIVEUSDT)

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Hamster Kombat Full Details

A complete overview of Hamster Kombat's value: what do you need to know about price and capitalization?

Hamster Kombat is a popular tap into Telegram, around which there are a lot of rumors, noise and expectations, and the price of Hamster Kombat coin is the most discussed topic in the community and the cause of many disputes. The number of users in the sensational flagship Notcoin amounted to just over 30 million, while Hamster attracted almost 10 times more.

Hamster has undoubtedly become a record-breaker in terms of the number of users and also impresses with prominent partners. However, the NOT token already has a huge impact on the cryptocurrency market, at least on the TON blockchain, memcoin has eclipsed even the mainstream cryptocurrency. For now, it cannot be said that Hamster coin has a chance to take its place.

Already on September 26, Hamster will be listed on many exchanges. Recently, Binance announced the support of the project, the coin will appear on the top platform as well. The premarket for Hamster Kombat opened back in July, then the prices for the token reached incredible values, for example, the largest transaction was at a price of 238 dollars per 1 token. The value of Hamster coin is currently hovering around 5 cents, at the launch it was 7 cents. Does this mean that players' interest and faith in the project has gone down? Should we wait for a grandiose drop and big earnings of players? In the article, let's try to understand what the Hamster Kombat token is and what are the community's chances of making money in the project.

The current price of the Hamster Kombat token and the factors affecting its change

The price of the Hamster Kombat coin at the time of writing the review is determined by the interest of traders in the cryptocurrency on the premarket. At the moment, the growth prospect of altcoins directly depends on the situation around the US interest rate. Traders expect the Fed to lower the rate on September 18. At the moment, the Fed has left it unchanged for 8 consecutive meetings, which gives hope for a soon decline. However, it is important to understand the dynamics of cryptocurrencies after this event. For example, in 2019, after 4 meetings without changing the rate, there was a decrease in the rate, which led to a prolonged bearish trend on BTC. Altcoins had a rough time at that point.

The Hamster Kombat premarket was opened in July on the Baybit exchange and several other cryptocurrency platforms. The first prices of the Hamster token indicated positive investor sentiment and averaged $0.07. However, in two months there was a lot of negative news and rumors around the game, which led to a decrease in the preliminary price, the minimum value was recorded at $0.001. Now the value of Hamster Coin on the same exchange Bybit is equal to $0.05. At the same time, the market capitalization of the token is not yet estimated in any way.

And although the purchase of cryptocurrency through USDT is a sign of stability, but this does not encourage investors who are ready to sell the future drop even at reduced prices. Another fact is also important. The listing of cryptocurrencies on exchanges is most often accompanied by a price dump, as weak hands come out, that is, those who received the drop and are in a hurry to dump it regardless of the price. The value of Hamster in such a case can drop a lot.

HIVE

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Bearish

The Role of Smart Contracts in DeFi

Smart contracts play a key role in DeFi (decentralized finance), enabling the automatic execution of agreements between participants without needing third-party trust.

Here’s how they work in DeFi:

🔵 Automation: Smart contracts automatically handle financial operations (e.g., loans, asset exchanges) when predefined conditions are met.

🔵 Transparency: All contract terms are available on the blockchain, ensuring openness and preventing fraud.

🔵 Security: They eliminate intermediaries, reducing risks and transaction costs.

Thus, smart contracts greatly enhance the security and efficiency of financial operations in DeFi.
$SHIB

SHIB

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Bearish

What is the difference between an upthrust and a pseudo upthrust?

An upthrust is a price movement where the market rises and then quickly reverses downward, as strong buying activity is followed by aggressive selling.

It often occurs after a false breakout and signals a market reversal.

A pseudo upthrust looks similar but lacks significant selling and does not lead to a market reversal.

The price may continue to rise, making it a less reliable signal for a reversal.

$BNB

BNB

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Bearish

What are token locks in cryptocurrency?

Locks in cryptocurrency refer to a situation where tokens or cryptocurrencies are locked for a specific period.

The owner cannot sell or transfer these assets until the lock period expires.

Locks are used to protect projects from mass sales in early stages or to encourage long-term holding of assets.

They are often applied when distributing tokens to the project team, investors, or in staking programs.

This helps stabilize the market and prevent sharp price fluctuations.

$SOL

SOL

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Bearish

How to choose a cryptocurrency wallet?

Cryptocurrency wallets are the key to managing your assets. There are two main types of wallets: hot and cold. Each has its own features suitable for different scenarios.

Hot wallets:

Convenience: Easy access to funds, great for everyday transactions.
Security: Less secure since they are connected to the internet.

Cold wallets:

Maximum security: your funds are stored offline.
For long-term storage: Great for large sums of money.
The choice of wallet depends on your needs - convenience or security.

$ETH

ETH

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What is Cloud Mining

Cloud mining is a method of cryptocurrency mining where users rent computing power from specialized companies without purchasing their own equipment.

This allows users to mine cryptocurrency without investing in hardware, renting space, or paying for electricity.

Users pay for rental contracts, and the companies provide the power needed for mining.

However, cloud mining carries certain risks, such as potential fraud and dependency on cryptocurrency price fluctuations.

$BTC

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Bearish

What is an Airdrop?

An airdrop is a marketing campaign where cryptocurrency projects distribute their tokens for free among users.

Typically, airdrops are conducted to increase the project's popularity, attract new users, or reward existing community members.

Airdrops can be different:

🔵 No conditions — users simply receive tokens.

🔵 With conditions — users need to complete tasks (e.g., follow on social media or register on a platform).

It’s an effective way to promote and engage audiences in crypto projects.

$BTC

Why long-term Cardano holders are moving ADA Previously dormant Cardano coins (ADA) came on the move on Friday, leading to an increase in the number of active addresses for the day and increased trading activity The ADA exchange rate was almost unchanged for the day despite the high trading activity. Let's find out what it means and whether Cardano fans should wait for a bullish trend. ADA tokens are on the move According to Santiment, on Friday, September 6, the age consumed metric for ADA hit a seven-day high of 6.33 billion. This metric tracks the movement of long-term held coins. It rises when long-term holders start moving coins, signaling possible changes in the market. The growth of age consumed for ADA is accompanied by an increase in the number of active addresses. According to Santiment, the number of addresses involved in ADA transactions reached 54,200. This is an intraday high since March 6. An increase in the number of active addresses usually indicates a positive sentiment, but ADA has responded with a decline. This may suggest that a top has already been formed and the price will continue to decline Cardano price forecast: further - lower On the daily chart of Cardano there are signs of further decline. For example, the points of the Parabolic Stop and Reverse (SAR) indicator, which show the possible trend direction and reversal moments, are above the price. This indicates the dominance of bearish sentiment. In addition, the values of the coin's Moving Average Convergence and Divergence (MACD) indicator indicate the strengthening of the downward dynamics: the MACD line (blue) is located below the signal (orange) and zero lines. Traders often view this as a sell signal, which puts pressure on the asset price. If the downtrend continues, the price of ADA may fall to the August 5 low of $0.27. If the demand for ADA rises, the bearish outlook will fail to materialize. Buying pressure will lift ADA above the resistance level of $0.39 and help it reach the next key mark of $0.48. $ADA {spot}(ADAUSDT)

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What is PNL (Profit and Loss)?

PNL is an indicator of profits and losses in trading. It shows how much you have earned or lost from a transaction.

PNL is calculated as the difference between the purchase price and the sale price of an asset.

🔵 If PNL is positive, you have a profit.
🔵 If it is negative, it’s a loss.

PNL helps traders track trade performance and analyze their trading strategy.

It can be viewed for individual trades or the entire portfolio.
#TON #DOGSONBINANCE $SOL
$TON
$AAVE

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Why long-term Cardano holders are moving ADA

Previously dormant Cardano coins (ADA) came on the move on Friday, leading to an increase in the number of active addresses for the day and increased trading activity

The ADA exchange rate was almost unchanged for the day despite the high trading activity. Let's find out what it means and whether Cardano fans should wait for a bullish trend.

ADA tokens are on the move

According to Santiment, on Friday, September 6, the age consumed metric for ADA hit a seven-day high of 6.33 billion. This metric tracks the movement of long-term held coins. It rises when long-term holders start moving coins, signaling possible changes in the market.

The growth of age consumed for ADA is accompanied by an increase in the number of active addresses. According to Santiment, the number of addresses involved in ADA transactions reached 54,200. This is an intraday high since March 6.

An increase in the number of active addresses usually indicates a positive sentiment, but ADA has responded with a decline. This may suggest that a top has already been formed and the price will continue to decline

Cardano price forecast: further - lower

On the daily chart of Cardano there are signs of further decline. For example, the points of the Parabolic Stop and Reverse (SAR) indicator, which show the possible trend direction and reversal moments, are above the price. This indicates the dominance of bearish sentiment.

In addition, the values of the coin's Moving Average Convergence and Divergence (MACD) indicator indicate the strengthening of the downward dynamics: the MACD line (blue) is located below the signal (orange) and zero lines.

Traders often view this as a sell signal, which puts pressure on the asset price. If the downtrend continues, the price of ADA may fall to the August 5 low of $0.27.

If the demand for ADA rises, the bearish outlook will fail to materialize. Buying pressure will lift ADA above the resistance level of $0.39 and help it reach the next key mark of $0.48.
$ADA

ADA

XRP has lost a critical support level XRP suffered a major setback after losing a critical 200-day EMA support level, which is a major key to determining the direction of the long-term trend. If the asset breaks below this level and a cluster of moving averages, a deeper bearish trend could develop. A downtrend in the market is signaled when an asset crosses the 200-day moving average, which often discourages buyers and increases selling pressure. The attached chart highlights the troubling technical picture. All three major moving averages - EMA 50, 100 and 200 - which are currently resistance levels, XRP is currently trading lower. These moving averages, which once helped price, are now creating serious headwinds for XRP that must be overcome if it is to regain bullish momentum. As the lack of buying interest becomes more and more apparent, the fact that XRP is trading below these numbers indicates a significant decline in market confidence. The recent price decline, which has been accompanied by low volume, is another factor reinforcing the bearish sentiment. The volume indicator has remained low, indicating that investors and traders are not inclined to buy XRP at these prices. XRP may have a hard time stopping the decline if there is not enough volume to support any possible rebound. Looking ahead, $0.48 represents the next significant support level to keep an eye on. This level will have a significant impact on the short-term future of XRP. Price could indicate a deeper correction and potentially lead to increased selling pressure if it falls below this support level. However, XRP could lay the groundwork for a future rebound if it manages to maintain this support level. However, a rebound is unlikely unless there is a surge in buying volume given the current bearish market structure. The RSI has not yet reached the thresholds that signify a reversal. Hence, there are no clear signs of a reversal in sight, even though XRP may be approaching oversold territory. $XRP {spot}(XRPUSDT)

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XRP has lost a critical support level

XRP suffered a major setback after losing a critical 200-day EMA support level, which is a major key to determining the direction of the long-term trend. If the asset breaks below this level and a cluster of moving averages, a deeper bearish trend could develop. A downtrend in the market is signaled when an asset crosses the 200-day moving average, which often discourages buyers and increases selling pressure.

The attached chart highlights the troubling technical picture. All three major moving averages - EMA 50, 100 and 200 - which are currently resistance levels, XRP is currently trading lower. These moving averages, which once helped price, are now creating serious headwinds for XRP that must be overcome if it is to regain bullish momentum.

As the lack of buying interest becomes more and more apparent, the fact that XRP is trading below these numbers indicates a significant decline in market confidence. The recent price decline, which has been accompanied by low volume, is another factor reinforcing the bearish sentiment.

The volume indicator has remained low, indicating that investors and traders are not inclined to buy XRP at these prices. XRP may have a hard time stopping the decline if there is not enough volume to support any possible rebound. Looking ahead, $0.48 represents the next significant support level to keep an eye on.

This level will have a significant impact on the short-term future of XRP. Price could indicate a deeper correction and potentially lead to increased selling pressure if it falls below this support level. However, XRP could lay the groundwork for a future rebound if it manages to maintain this support level.

However, a rebound is unlikely unless there is a surge in buying volume given the current bearish market structure. The RSI has not yet reached the thresholds that signify a reversal. Hence, there are no clear signs of a reversal in sight, even though XRP may be approaching oversold territory.
$XRP

XRP

Ethereum Could Fall to $1600 The price of Ethereum (ETH) could fall to $1,600 Ethereum (ETH) continues to face increased pressure, with the cryptocurrency's price falling below $2,400 for the second time in just three days Let's look at whether Ethereum (ETH) has reached the bottom and whether there are risks of continued decline. Investors are not interested in ETH At the end of August, the market expected Ethereum to test the psychologically important $3k mark, but it still hasn't happened. At the moment, the Coinbase Premium Index for ETH has fallen to -0.042. This indicates a noticeable decrease in buying pressure from US investors. Such a decline could be a harbinger of a further fall in the cryptocurrency. This index tracks the percentage difference in Ethereum spot prices on Binance and Coinbase. High values signal increased interest of US buyers in the cryptocurrency, while low values indicate that investors prefer to refrain from buying or sell. In addition, spot ETFs based on Ethereum are also experiencing bad times. The fact is that demand for the new financial instrument is now very low. The inflow of ETH to centralized crypto exchanges (CEX), meanwhile, is increasing. Onchain data from Santiment signals that by the time this material was published, the figure had exceeded 21 million coins. By comparison, just a month ago, there were about 19.94 million ETH on exchanges. Usually, an increase in the number of offerings on the CEX hints that investors are not looking to sell off assets. However, in the case of Ethereum, the situation is probably different: the selling pressure on the contrary may increase, increasing the pressure on the cryptocurrency's exchange rate. Earlier we told you that Ethereum's revenues fell by 99% after the Dencun update. Read all the details in the material at the link. Ethereum forecast: sad prospects At the time of writing this analysis, ETH is trading at $2,330, having lost almost 3% over the past 24 hours. At the same time, the cryptocurrency has declined by approximately 13% over the past two weeks. Nevertheless, the price is still holding in a range between support at $2,200 and resistance at $2,350. The Relative Strength Index (RSI) is now below average. This only confirms not the most positive outlook for Ethereum. Under such conditions, a drop to $2,200 looks very likely. If the price goes lower, it risks slipping to $2,048 or even $1,577. Nevertheless, if the activity of buyers and investors increases, the cryptocurrency will get a chance to recover. In this case, the price of ETH may reach the $2,800 mark again. $ETH {spot}(ETHUSDT)

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Ethereum Could Fall to $1600

The price of Ethereum (ETH) could fall to $1,600

Ethereum (ETH) continues to face increased pressure, with the cryptocurrency's price falling below $2,400 for the second time in just three days

Let's look at whether Ethereum (ETH) has reached the bottom and whether there are risks of continued decline.

Investors are not interested in ETH

At the end of August, the market expected Ethereum to test the psychologically important $3k mark, but it still hasn't happened.

At the moment, the Coinbase Premium Index for ETH has fallen to -0.042. This indicates a noticeable decrease in buying pressure from US investors. Such a decline could be a harbinger of a further fall in the cryptocurrency.

This index tracks the percentage difference in Ethereum spot prices on Binance and Coinbase. High values signal increased interest of US buyers in the cryptocurrency, while low values indicate that investors prefer to refrain from buying or sell.

In addition, spot ETFs based on Ethereum are also experiencing bad times. The fact is that demand for the new financial instrument is now very low.

The inflow of ETH to centralized crypto exchanges (CEX), meanwhile, is increasing. Onchain data from Santiment signals that by the time this material was published, the figure had exceeded 21 million coins. By comparison, just a month ago, there were about 19.94 million ETH on exchanges.

Usually, an increase in the number of offerings on the CEX hints that investors are not looking to sell off assets. However, in the case of Ethereum, the situation is probably different: the selling pressure on the contrary may increase, increasing the pressure on the cryptocurrency's exchange rate.

Earlier we told you that Ethereum's revenues fell by 99% after the Dencun update. Read all the details in the material at the link.

Ethereum forecast: sad prospects

At the time of writing this analysis, ETH is trading at $2,330, having lost almost 3% over the past 24 hours. At the same time, the cryptocurrency has declined by approximately 13% over the past two weeks. Nevertheless, the price is still holding in a range between support at $2,200 and resistance at $2,350.

The Relative Strength Index (RSI) is now below average. This only confirms not the most positive outlook for Ethereum. Under such conditions, a drop to $2,200 looks very likely. If the price goes lower, it risks slipping to $2,048 or even $1,577.

Nevertheless, if the activity of buyers and investors increases, the cryptocurrency will get a chance to recover. In this case, the price of ETH may reach the $2,800 mark again.
$ETH

ETH

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What is a market order for buying a coin?

A market order for buying a coin is an order to immediately purchase cryptocurrency at the current market price.

The main advantage of this type of order is the immediate execution, which is important in volatile conditions.

However, it’s worth noting that the price may change during the process, making the final purchase price unpredictable.

🔵 Advantage: Quick execution.

🔵 Disadvantage: Inability to control the exact price.

A market order is suitable when the speed of the transaction is more important than the exact price.
$BTC