Ethereum struggles at $2,054, with a potential downtrend toward $1,900.
Glassnode data shows the first ETH issuance decrease in 12 months.
In the volatile crypto world, recent developments have cast a shadow over Ethereum’s performance, hinting at potential challenges ahead. The Shanghai hard fork, even prior to its activation, had been impacting Ethereum’s price. Now, post-upgrade, concerns about unstaking have become palpable, contributing to a sense of unease in the market.
Meanwhile, last week saw a substantial inflow of $312 million into Bitcoin, overshadowing Ethereum’s $34 million influx. It represents only a fraction of similar Bitcoin funds’ inflows. This trend sparks intrigue, especially amid the ongoing competition between BTC and ETH for spot ETF approval in the US.
Notably, Ethereum’s price trajectory paints a cautious picture. Struggling to breach the $2,124 resistance, it currently lingers near $2,038. Despite a recent breakout from a downtrend, the potential f
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