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14 October, 2024

Ethereum’s Rise to $2,600: Is a Correction Brewing?

14 October, 2024

Ethereum (ETH) has surged past $2,600, but could this rally be short-lived? A closer look at on-chain metrics reveals potential warning signs suggesting a correction before ETH reaches $3,000. This article delves into the key indicators that are raising concerns among analysts and explores what this means for ETH’s immediate future.

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While the recent surge in ETH’s price has been fueled by positive developments like the upcoming Shanghai upgrade, a closer examination of on-chain data suggests a potential for price consolidation or even a pullback. This analysis explores the factors driving this sentiment and offers insights into the potential risks and opportunities presented by Ethereum’s current market dynamics.