Ethereum (ETH) Price seems to end in August on a solid note, earning more than 23% and breaking a sequence of three years of negative representations of August. Unlike Bitcoin, which had trouble in the month, the price of ETH showed resilience.
However, September was historically one of the lowest months of Ethereum, with only marginal gains of 3.20% in 2024 and 1.49% in 2023 after a series of red September before that. Now, with the flashing graphics of mixed signals, ETH could go around a restless month.
Long -term holders can reserve profits
A metric key to monitoring is the unrealized profit / loss (NUPL) of Ethereum, which measures the overall profitability of holders.
A high Nupl means that most portfolios are seated on profits, often a signal that some can earn profits. The long -term holder of Ethereum, Nupl, is currently at 0.62, near its three -month summit.
In the past, similar levels have triggered corrections. On August 17, when Nupl hit 0.63, ETH went from $ 4,475 to $ 4,077 (-8.9%). Later this month, at 0.66, ETH increased from $ 4,829 to $ 4,380 (-9.3%). This suggests that September could provide volatility or action linked to the beach.
Historically, September was not the strongest month of ETH. This story, combined with a high nupl, supports the case of Choppiness.
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However, long -term fundamentals remain favorable to prices overvoltage. In an exclusive interview with Beincrypto, Kevin Rusher, CEO of Raac, explained:
“In September, I expect the engines of the Ethereum Prix remaining largely the same as they are today, among these, the growing trend of companies buying ETH for their treasury bills. In fact, just this week, Standard Charterd named this as the main reason for the increase in its ETH price objective to $ 7,500, he mentioned, “
This treasure tendency of treasure, alongside the role of Ethereum in the tokenization of Defi and Real (RWA), could help make a decrease in movements even if short -term volatility persists.
Cost base The thermal card highlights critical resistance
Another important metric is the basic thermal card of the cost, which shows where the ETH has been accumulated for the last time. These areas often act as natural support or resistance.
The strongest support cluster is between $ 4,323 and $ 4,375, where more than 962,000 ETH have accumulated. Below, additional areas exist at $ 4,271 at $ 4,323 (418,872 ETH) and $ 4,219 to $ 4,271 (329,451 ETH), providing buffers in case the Ethereum price drops.
The heavier challenge is higher. Between $ 4,482 and $ 4,592, nearly 1.9 million ETH were accumulated, making it a great resistance zone.
If the price of the ETH erases this, the momentum could extend around $ 4,956. More about this later when we discuss the action of the Ethereum price
Signal of technical graphics at Ethereum Price Choppiness
The 2 -day Ethereum price table shows that it broke below an ascending trend line. This does not confirm a downward reversal, but it suggests the discoloration of the bullish momentum.
The relative resistance index (RSI), which measures the speed and strength of price movements, has formed a downward divergence – with a price making the heights higher while RSI tends to drop.
This generally indicates a weakening of the force and a probability of trading linked to the beach, even more so if it is formed over a longer time.
If ETH recovers $ 4,579 (which almost broke the resistance to the cost base), the upward momentum could return, with the key lens at $ 4,956.
Looking down, look at $ 4,345 and $ 4,156 such as important levels of support. A rupture of less than $ 4,156 could open other risks downwards, while a sustained grip greater than $ 4,579 maintains $ 4,956 (almost $ 5,000, which is a key psychological level) at hand.
However, for Ethereum, this level could not be the beginning of something greater, as summarized by Rusher.
“Yes, $ 5,000 is still a significant step. Psychologically, investors and round figures, and this is a new record. Once the ETH has exceeded the $ 5,000 mark, it will finally become a highly defended level of support, he added”
However, if the Ethereum price closes less than $ 4,156 with a complete 2 -day candle, the Haussier story could take a little more time to materialize.
And with the long -term NUPL support approaching the 3 -month summits, discussions concerning the machenm find more weight.
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