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Ethereum Price Drops 26% but Recovers Immediately
The Ethereum price experienced a significant drop of approximately 26% last week, reaching a low of around $3,510. However, it managed to bounce back from the 200-day EMA support level at approximately $3,543, showing a recovery of about 22.4% shortly thereafter. Currently, the price faces significant resistance at the 50-day EMA around $4,252, and if it breaks this level, the next resistance is expected at around $4,405, which is the Golden Ratio.
Analysts indicate that a break above the Golden Ratio could lead Ethereum back to its all-time high (ATH) of approximately $4,956 or even higher. The indicators are showing a bullish trend in the daily chart, with EMA lines crossing bullishly and the MACD histogram trending higher. However, a death cross has formed in the 4-hour chart, indicating a short-term bearish trend. If Ethereum fails to hold above the 0.382 Fib level at around $3,590, it could correct to the Golden Ratio support at approximately $2,750.
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“Overall, Ethereum has shown a strong recovery from the flash crash, indicating that the upward trend may continue.”
Key Takeaways: Ethereum's price dropped 26% but has since recovered by 22.4%. Significant resistance levels are at $4,252 and $4,405, with potential corrections to $3,590 or $2,750 if bearish trends continue. (Source: Yahoo Finanzen)
First Country Uses Ethereum as National Infrastructure
Bhutan has become the first country to utilize the Ethereum network for a national digital identity system. The announcement was confirmed by Aya Miyaguchi, head of the Ethereum Foundation, who attended the opening ceremony for Bhutan's National Digital Identity (NDI) system. The system is now fully operational, with all authentication information set to be migrated by the first quarter of 2026.
Prime Minister Lyonchen Tshering Tobgay stated that this initiative marks a significant milestone for Bhutan, enhancing security, transparency, and availability of essential systems. The integration of Ethereum aims to create a user-owned identity system that connects Bhutan to the global ecosystem, supporting the King's vision for a secure and digitally empowered society.
Key Takeaways: Bhutan is the first country to implement Ethereum for a national digital identity system, with full migration expected by early 2026. This initiative aims to enhance security and transparency in governance. (Source: Yahoo Finanzen)
Grayscale Ethereum Mini Trust ETF Appoints Simon Koster to Board
Grayscale Ethereum Mini Trust ETF has announced the appointment of Simon Koster to the board of GSO Intermediate Holdings Corporation. Koster, who is currently the Chief Strategy Officer at Digital Currency Group, Inc., takes over from Matthew Kummell, who has stepped down. His experience includes managing a portfolio of digital assets and overseeing real estate projects.
Koster's appointment is seen as a strategic move for Grayscale, as he brings extensive experience in managing investments in digital assets and startups. His educational background includes a Bachelor of Science from Rutgers University and a Master's in Engineering from the University of Michigan.
Key Takeaways: Simon Koster has been appointed to the board of Grayscale Ethereum Mini Trust ETF, bringing significant experience in digital asset management. (Source: Investing.com Deutsch)
Solana vs. Ethereum: The Battle for Blockchain Supremacy
Solana has achieved an impressive annual revenue of $2.85 billion, outpacing Ethereum during a comparable phase. This growth is attributed to its focus on high-frequency trading, microtransactions, and innovative on-chain applications, all while maintaining transaction costs below one cent.
Solana's diverse revenue streams, including DeFi protocols, NFT marketplaces, and AI-based applications, have established it as a serious contender in the blockchain space. With a Total Value Locked (TVL) of nearly $13 billion, Solana is now the second-largest DeFi ecosystem, trailing only Ethereum.
Key Takeaways: Solana has generated $2.85 billion in revenue, significantly surpassing Ethereum's early performance. Its diverse applications and low transaction costs position it as a strong competitor in the blockchain market. (Source: das investment)
Ethereum Price Could Rise to $10,000 According to Experts
Analysts predict that Ethereum's price could surge to between $8,000 and $10,000 by early 2026, driven by increasing institutional interest and a growing money supply. Currently, Ethereum is trading around $4,100, having stabilized after a low of approximately $2,800.
The market sentiment remains positive, with Ethereum closely tracking the global money supply. Analysts believe that if Ethereum can break above the $4,250 resistance level, it could signal the start of a significant upward trend.
Key Takeaways: Experts forecast Ethereum could reach $10,000 by early 2026, supported by institutional investment and favorable market conditions. (Source: Cointelegraph)
Krypto-Uptober: Which Will Yield More Returns, Bitcoin or Ethereum?
Following a recent flash crash, the cryptocurrency market is experiencing a recovery, with a BTC-ECHO survey revealing that 50% of participants believe Bitcoin will outperform Ethereum this October. Historically, October has been a bullish month for cryptocurrencies, with Bitcoin averaging a 20.3% increase compared to Ethereum's 4.35%.
The survey results indicate a close race, with 41% of respondents favoring Ethereum. Despite the recent downturn, both cryptocurrencies are expected to rebound as market conditions improve.
Key Takeaways: A recent survey shows a close competition between Bitcoin and Ethereum for returns in October, with Bitcoin slightly favored. (Source: BTC-ECHO)
Sources:
- Ethereum Kurs fällt 26 % aber erholt sich sofort wieder
- Erstes Land nutzt Ethereum als nationale Infrastruktur: Was ist passiert?
- Grayscale Ethereum Mini Trust ETF beruft Simon Koster in den Vorstand
- Solana vs. Ethereum: Der Kampf um die Blockchain-Krone
- Ethereum-Kurs könnte laut diesem Experten jetzt auf $10.000 steigen
- Krypto-Uptober: Bringt jetzt Bitcoin oder Ethereum mehr Rendite?
