Ethereum: Historical Playbook Points To $3,800 In Coming Months

Renowned analyst Josh Olszewicz has shared some compelling insights on Ethereum's price trajectory. Drawing parallels from historical patterns, Olszewicz's analysis suggests that Ethereum might be gearing up for a significant rally in the coming months.

Timeline of Ethereum

PayPal has long been interested in the evolving crypto landscape, but with its recent stablecoin announcement, the payments giant is taking its involvement to the next level. PayPal, one of the world's largest online payment systems, has introduced its own stablecoin, called PayPal USD (PYUSD).

In recent weeks, Ethereum has demonstrated a downtrend in shorter timeframes, where the bulls struggled to maintain the critical $1900 support zone. This allowed the bears to gain dominance.

This announcement marks a significant milestone in the digital landscape as NexeraID in collaboration with PolygonID unveil their Web3 Compliance initiative. This project sets a standard for privacy protection while “ensuring strict adherence to regulatory requirements in the ever-evolving realm of Web3 compliance.

In a sophisticated maneuver in the volatile world of digital assets, a trader known by the pseudonym Hanwe Chang has reportedly managed to make over $1.5 million in the second-largest digital asset by market capitalization Ethereum ($ETH) by outmaneuvering a bot on a popular marketplace.

An Ethereum (ETH) gaming altcoin exploded in price over the past week before retracing after a series of whales sent their stacks to crypto exchanges. Yield Guild Games (YGG), a blockchain-based play-to-earn gaming decentralized autonomous organization (DAO), saw its native token rally from trading at around $0.

To the south, the $1750-$1770 demand zone could attract the price to it. Ethereum left behind a fair value gap on the H4 chart in that region- will the bears force such a retest soon?

Ethereum's price has been slowly dropping over the past few weeks, approaching a significant support level. Things will get interesting soon, as the market's reaction to this level would likely determine the price action in the next few weeks.

Ethereum, the second-largest cryptocurrency by market capitalization, has made significant strides towards its vision of becoming “ultra sound money” over the past two years since implementing “The Merge.” The network's transition from a proof-of-work to a proof-of-stake system via the Beacon Chain has led to the burning of over 3.

Ripple (XRP) chief legal officer Stuart Alderoty suggested that former SEC Director William Hinman should be investigated for his infamous 2018 speech that gave Ethereum (ETH) a free pass over other digital assets in the industry, according to an Aug. 7 tweet.

With the majority of the cryptocurrency market dragging its feet in recent weeks, it is no surprise that its second-largest asset by market cap, Ethereum (ETH), is doing the same. However, the hope remains it could hit the high price level of $5,000 sometime in the future.