Ethereum Losing This Cycle

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ETHEREUM
📉 Ethereum Losing This Cycle 

Word On The Street: Ether has attempted several recoveries above $2,500 since the crypto market’s early August sell-off but has struggled to maintain momentum.

The details:

  • Market watchers were hopeful that spot Ethereum ETFs, which began trading on July 23, would bolster ETH’s price.

  • However, Ether now appears headed for a sixth consecutive red daily candle, with the $2,500 level serving as a tough resistance point.

  • ETH’s market share has steadily decreased, hitting a 42-month low of 13% as of November 4.

Why it matters: Ether’s recent price action reflects a complex interplay of weak ETF flows, increased competition from other layer-1 networks, and the continuing pressure of high transaction fees.

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