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Ethereum has declined by more than 2% over the past 24 hours, but still holds a small weekly gain.\u00a0ETH is currently at $1,875, while many traders are waiting for a deeper flush to $1,475 before buying.<\/p>\n
But the latest analysis by trader Nonzee indicates that such a move may not come, as the main shakeout already took place in June and July.<\/p>\n
The leading altcoin swept below the range twice during that period and recovered within days, although the quiet moves did not look like a typical market bottom. The next move is expected<\/a> to come in October, when ETH pulls back to $1,537. The market expert explained that this pullback will mark a retest and a higher low, not a new low.<\/p>\n According to Nonzee, ETH would move back above $2,203 and test the $2,872 range high. The 2027 target is $4,500, with a full measured target of $4,500 to $4,700. That makes the October dip a major buying opportunity, even though it would be about 15% above the $1,475 level many traders are waiting for.<\/p>\n Last week, Crypto Patel said<\/a> Ethereum was showing one of its strongest high-timeframe bullish structures. The asset had reclaimed its long-term descending trendline after several failed attempts and was consolidating above it. The structure remained valid above $1,510 on daily closes. The analyst identified upside targets at $2,400, $3,000, $3,600, $4,200, and $5,000.<\/p>\n Beyond these targets, Crypto Patel also outlined a much bigger Ethereum move playing out through 2030. The analyst mapped<\/a> a long-term roadmap that puts the ETH accumulation zone at $1,000-$1,600, followed by targets of $10,000 and eventually $20,000.<\/p>\n “If this HTF roadmap plays out, today’s ‘fear’ could look like the best entry of the decade.”<\/p>\n<\/blockquote>\n On the corporate side of things, Bitmine expanded<\/a> its Ethereum holdings beyond 5.8 million tokens after acquiring another 7,391 ETH. Its total stash is now worth approximately $11.2 billion at the reported price. However, the accumulation pace has slowed compared with earlier purchases exceeding 27,000 and 42,000 units.<\/p>\n The company has also repurchased 19.1 million shares since July 1, while Bitmine Chairman Tom Lee remains optimistic about the asset’s long-term potential, even as he expressed disappointment that the CLARITY Act will not see<\/a> a Senate vote before the August recess.<\/p>\n Meanwhile, US-based spot Ethereum ETFs saw $14.59 million in net withdrawals, ending a four-day streak of inflows. So far in August, these funds have attracted around $230 million in net investment.<\/p>\n The post The Ethereum (ETH) Chart Everyone Is Watching Has a Problem: $1,475 May Never Come<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n\n\n
Mixed Picture<\/h2>\n
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