Ethereum Price Prediction: How Long till $ETH Price Stays in a Sideways Trend?

Ethereum Price Prediction: The U.S. Securities and Exchange Commission's (SEC) action against major cryptocurrency exchanges Binance and Coinbase (COIN) has created indecisiveness among traders. Similar to a majority of major cryptocurrencies, the Ethereum price turned sideways and is now consolidating in a narrow range.

Timeline of Ethereum

The recent shocks in the crypto market due to the SEC have not been able to dislodge Ethereum's price from the lateralization band within which it has been hovering for months either: what is the forecasting?

Vitalik Buterin, the co-founder of Ethereum, has teamed up with Sandeep Nailwal, the co-founder of Polygon, to direct $100 million toward COVID-19 research and the development of medical infrastructure in India.

Ethereum is currently following the market trend of Bitcoin and continues to maintain above the $1,800 level. This price level is still bullish for the digital asset which is now only around 60% down from its all-time high.

Ethereum (ETH) price rebounded mildly on Tuesday after an industry-wide retracement induced by SEC's lawsuit against Binance and Coinbase. An in-depth analysis of the on-chain data shows how investors are reallocating capital away from troubled altcoins.

Ethereum (ETH), the world's second largest cryptocurrency by market capitalization is not having the best of week following the upset the industry received as the US SEC filed securities violation charges against Binance and Coinbase Exchanges respectively. At the time of writing, Ethereum was changing hands at a price of $1,844.24, down by 0.84% over

Representatives of the layer-2 network atop Ethereum confirmed the change in the treatment of ETH after CoinDesk observed a $550 million transfer in blockchain data. The change occurred in conjunction with Optimism's “Bedrock” upgrade this week.

Recent statistics reveal that a significant amount of ethereum staked on Coinbase has been redeemed, with 27,280 tokens being redeemed on June 6. This development comes in the wake of the U.S. Securities and Exchange Commission (SEC) filing a lawsuit against Coinbase for not registering its staking-as-a-service program.

The crypto market has recently met a sharp collapse, creating panic selling among investors. The Securities and Exchange Commission (SEC) has recently filed lawsuits against two major cryptocurrency exchanges, Binance and Coinbase, leading to a significant downturn in the market.

A new address that was created earlier today is onto something worth watching on the Ethereum network. According to insights shared by crypto analytics service provider Lookonchain, one of the first actions the wallet address made was to withdraw a total of 20,000 ETH tokens worth approximately $36.86 million from the Binance exchange.

Ethereum's price finds itself tightly confined within a narrow range, hemmed in by the upper boundary of the descending flag and the 100-day moving average. However, this narrow range is on the verge of being breached, indicating an imminent direction for its next move.