Ethereum Bottom Could Be In – ETH Reacumulation Time?

It’s been reported that Ethereum bottom could be in, and traders could soon consider reaccumulating ETH. Check out the latest reports about this below.

A leading crypto analyst has shared their views on Ethereum (ETH) amidst a lackluster crypto market. In a recent video, an analyst known as Bluntz suggests that Ethereum is in the final stage of a corrective movement while trading within an ascending triangle pattern.

The analyst believes that Ethereum may establish a bullish higher low configuration to conclude the correction before breaking out and surging to a new all-time high.

If ETH were to drop to a new low and touch the level of $1,430 or $1,440, he said that he would consider purchasing for long-term holdings.

He believes the major bottom has already been reached and we are currently in a period of accumulation, which ranges from around $1,400 to $2,000. This would be an opportunity to buy at the bottom of the range.

As for the short-term price action of Ethereum, the analyst predicts that we will experience a period of sideways movement before breaking down to a new low of approximately $1,430.

After this, he would position himself to take longs and potentially reach new all-time highs.

Ethereum is trading at $1,595 at time of writing.

New Coinbase Ethereum layer-2 has just hit a new ATH in Daily Transcations.

Last Thursday, Coinbase’s Ethereum (ETH) layer-2 scaling solution, Base, broke its previous record of approximately 1.4 million daily transactions by recording more than 1.8 million transactions on September 14th, as confirmed by the project’s block explorer.

It’s worth noting that Base’s daily transaction volume surpassed that of its competitors, Arbitrum (ARB) and Optimism (OP), combined.

While Arbitrum processed around 500,000 transactions on the same day, Optimism managed approximately 378,000, according to their respective block explorers. Check out our previous article in order to learn more details about this.