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Dormant ETH Finally On The Move The sell-off on Monday also coincided with a spike in the movement of previously dormant tokens away from old wallets. According to the Age Consumed on-chain metric by Santiment, there was a noticeable increase in the most dormant ETH over three months. advertisement “A continued dip in mean $ age while prices drop is a capitulation sign, which foreshadows reversals.” Ethereum Age Consumed Metric | Santiment The rollback to March price levels could attract more long traders, who by taking advantage of the dips, are targeting short-term profits as ETH price rebounds to close the gap to $2,000. This uptake of Ethereum means fresh momentum is brewing for the next rally, first above $1,600 then to $1,800, and later to $2,000. A sustained break past $2,000 could signal the start of a much-awaited bull market in 2024 going into 2025. Recommended Articles ...

Down 1.4% in the last seven days, Ethereum is trading at $1,827. Attempts to weaken resistance at $1,850 have failed numerous times but show the likelihood of an extended rout below $1,800. advertisement Ethereum Undervaluation Suggests A Swift Rebound Ethereum has been trading in a range between $1,600 and $2,000 since March apart from a single outburst in mid-April that propelled it to highs slightly above $2,100. This rally had been triggered by the launch of the Shapella upgrade, which completed the transition to a proof-of-stake (PoS) consensus algorithm ensuring investors could withdraw staked rewards from the Beacon Chain. The lack of market-moving events and a generally dilapidated crypto market structure has limited Ether movements and continues to do so, especially with volatility dropping to record lows. According to insights by CryptoQuant, ETH has from January 1 to August 15 consistently hovered between the 1.5k and 1.6k range. ...