Ethereum Slumps 4.57%: Can the Double Bottom Rescue It?

Sept 5, 2024 Sept 5, 2024

ETH’s market cap drops to $288.78B, while trading volume surges by 69.93% to $16.22B.

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A double-bottom pattern forms near $2,310, indicating a potential shift from bearish to bullish.

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On-chain data shows persistent bearish sentiment, with OI-weighted funding rates in the red.

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If the double bottom holds, ETH might hit $2,592. Falling below $2,310 could drop it to $2,000.

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