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As bulls attempt to reverse recent losses, Ethereum may fall into another range of fluctuations.In the past 48 hours, ETH has fallen by 6%, and bears have shifted their level of $1619 towards resistance

Ethereum prices are attempting to break through the wave of recovery of $1580 against the US dollar. ETH is working hard to break through $1620 and may start another decline

The leading cryptocurrency, Bitcoin (BTC), stabilized between $25800 and $26200 after falling from $26600 to $25400 at the beginning of last week. Ethereum (ETH) failed to break through the $1700 level last week, and with recent price trends, its trading price is around $1640

The price of Ethereum has dropped significantly in the past day, now only $1540, which is the lowest point since March 12, 2023. This decline is due to many people becoming increasingly pessimistic about the market, especially as FTX is about to undergo asset liquidation, which will inject approximately $192 million worth of Ethereum into the market

ETH daily destruction quantity hit a new low within the yearSince the upgrade in London in August 2021, the Ethereum blockchain has launched the ETH combustion mechanism with the aim of optimizing transaction fees. EIP-1559 divides the gas fees that were originally required to be paid to miners on Ethereum into two parts: basic fees and miners' tips

As is well known, blockchain has the concept of an impossible triangle, and it cannot simultaneously balance scalability, security, and decentralization. For any blockchain, it is possible to satisfy at most two dimensions simultaneously

2023 marks the first anniversary of Ethereum's merger and the activation of MEV-Boost.1

Buying orders are returning to the Ethereum futures market, indicating that negative sentiment is correcting. However, as the coinSince September 10th, ETH's buy to sell ratio has steadily increasedUnder strong resistance of $2000, ETH investment continues to yield extremely low profitsAccording to the 30 day Simple Moving Average (SMA) evaluation, the buying and selling ratio of Ethereum [ETH] recipients has climbed to its highest level since June 23rd

Ethereum Price PerformanceDue to parameter mismatch, Ethereum's highly anticipated Holesky test network will not be able to start as planned. Nevertheless, it will still become the largest testing network on the blockchain network

Although Ethereum has fallen by 66.4% compared to ATH, many market participants believe that ETH is worth paying attention to

For most of this year, institutional cryptocurrency investors have been exiting the market, especially as a bear market has already formed. However, Ethereum suffered much greater losses in this regard than other assets, and the outflow of funds dragged down the decrease in total assets under management (AuM)

On September 2nd, the price of Ethereum (ETH) fell to $1620. Both on chain and derivative trading data indicate that Ethereum may experience more bearish resistance in the coming days