Why ETH is Struggling and What's Next
ETH has been struggling because of some strong obstacles.
First, large investors are withdrawing money from ETH ETFs, suggesting there's not as much demand. Second, older holders may also be taking profits, adding further selling pressure.
Third, ETH has had multiple failed attempts to break above $4,500, leading to much stronger resistance. Meanwhile, other blockchains like Solana are attracting more attention, and traders are rotating to faster-growing coins. 🚧📉
For September, ETH has two possible directions. If ETF inflows return and demand improves, ETH may break resistance and head towards $4,900–$5,200. Stronger network utilization, and a greater validator base, would also support this outcome. If selling continues, and ETH fails to break above resistance, then, with weakened support ETH may trade back down to $3,800–$4,200 before returning to find support. 📊⚖️
Most likely ETH will remain in the middle, and close September around $4,900–$5,000. Traders should continue to be prepared for both bullish and bearish moves. 🔮📈
