September Sell-Off Fit Push ETH Reach $3,500 Before Year-End Rally
Ethereum price fit drop as analyst Benjamin Cowen talk say September go get sell-off wey go push ETH back to e 21-week EMA near $3,500, which fit be 20% loss. CoinGlass data show sey six from past ten Septembers for bull markets dey get average loss of 6%, plus deep loss of 21.6% in 2017 plus 12.5% for 2021. Even though short-term bearish pressure dey from retail selling and lower highs, long-term outlook still dey bullish. Wall Street don dey ginger Ethereum, whales dey still dey buy, and spot ETH ETFs plus treasuries buy 2.56 million ETH for August—pass 33 times net issuance of 76,709 ETH. Traders fit use this buy-the-dip chance before year-end rebound to new all-time high.
Bearish
Dem classify am as bearish becos dem dey expect make market go down for September. Historically, ETH price don fall for six out of the past ten bull-market Septembers—weda sharp for 2017 and 2021—wey match Benjamin Cowen forecast wey talk say e go drop 20% to the 21-week EMA near $3,500. Increased retail selling and lower highs dey back the short-term downtrend. But strong ETF inflows and whale accumulation dey show sey long-term fundamentals strong. Traders fit expect more volatility during September before possible recovery for Q4, make dis news bearish short term but neutral to bullish long term.