Ethereum Correction: Patience Advised for Momentum Buying
Ethereum is undergoing a price correction, prompting analysts to advise traders to wait for momentum buying rather than chase dips. The price recently dropped to an intraday low of $4,233—the lowest since August 12—and could fall further toward the key $4,100 breakout level. Despite this pullback, ETH remains up nearly 15% in August after a 49% surge in July. Meanwhile, altcoins have shown resilience amid Bitcoin’s price correction, signaling ongoing capital rotation. Traders are urged to monitor market signals closely and exercise patience until a clear bullish momentum emerges.
Bearish
The call for patience amid a price correction to $4,233 and a potential drop to $4,100 fosters a cautious market outlook. Historically, similar pullbacks after strong rallies trigger consolidation, deterring new entries until momentum is confirmed. Although altcoin rotation offers some support, the immediate sentiment remains bearish as traders await clear buy signals. Over the long term, Ethereum’s fundamentals support a bullish case, but near-term volatility and dip risks are likely to dominate trading decisions.