Ethereum has experienced a 3% price correction, dropping to approximately $4,500 amidst broader market pressure and profit-taking, as confirmed by analyst insights and on-chain data.
This event aligns with historical patterns, marking September as typically weak for Ethereum, but institutional interest and strong on-chain activity continue to support the cryptocurrency’s long-term outlook.
Analysts Eye $4,375 for Potential Buying Opportunities
Market reactions to the correction vary, highlighting potential buying opportunities. Analysts like Mark Newton view dips towards $4,375 as chances for a future rally. However, cautious sentiment persists regarding Ethereum’s resistance zones in the current market landscape.
Institutional involvement remains robust, with Ethereum ETF inflows reaching $2.79 billion. Historical on-chain data shows strong DeFi activity, maintaining Ethereum’s price resilience even during seasonal dips. Predictions lean toward recovery post-correction.
September Weakens Ethereum Despite Strong Institutional Interest
Historically, Ethereum has encountered price declines in September, correlating with its post-halving cycle. In prior years, similar trends have resulted in average reductions of 6%. Notably, institutional interest has insulated Ethereum from sharper declines this year.
Experts emphasize Ethereum’s ability to rebound post-correction. Observations from CryptoGoos and Cowen underline the importance of supporting the 21W EMA, suggesting a potential rally by mid-October. Market dynamics favor resilient recovery signals.
Historical data suggests a high likelihood of an Ethereum correction in September, noted crypto enthusiast known as CryptoGoos. $ETH seasonality in September during post-halving years is typically negative. source
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