Ethereum Value Drops, Cardano Predictions for August, and Other Bits: Recap of Cryptocurrency Updates August 1
Ethereum, the second-largest cryptocurrency by market capitalisation, is expected to undergo a short-term rebound from its recent lows in early August 2025, according to various analysts. The potential recovery could see Ethereum (ETH) reaching above $4,200, supported by strong institutional interest and technical signals [1][2][3][4].
Currently, ETH is experiencing a daily decline of 6%, dropping to around $3,600. Despite this, technical analysts suggest that oversold conditions could prompt a rebound, as indicated by the Relative Strength Index (RSI) hovering around 30, suggesting that ETH may be due for a resurgence [1].
Meanwhile, the flow of capital into spot ETH ETFs remains solid, further supporting the potential recovery of ETH. Additionally, the number of tokens stored on crypto exchanges has plummeted to a nine-year low of under 19 million, reducing the immediate selling pressure [1].
However, it's important to note that historically, August has tended to be a bearish month for Ethereum, with gains recorded only in 2017, 2020, and 2021. Nevertheless, some key factors suggest that this might be only a temporary correction, followed by another rally for Ethereum [1].
Regarding Cardano (ADA), many analysts, including Ali Martinez, Hardy, and Smith, foresee a renewed uptrend for ADA. Ali Martinez believes ADA's current price structure resembles that of the last bull cycle, while Hardy claims ADA's bull run has yet to begin [1]. However, no specific new targets were mentioned for ADA in the provided paragraph.
In contrast, the cryptocurrency market has registered a significant pullback following the latest tariffs implemented by the Trump administration. The primary cryptocurrency, Bitcoin, has briefly dipped under $114,500 before recovering to around $115,000, representing a 3.2% drop on a daily basis. CRYPTOWZRD forecasted a potential pump for BTC to $145,000 if it breaks $120,000, while Grypto GEMs set a target of $150,000 for BTC [1].
Retail investors have shifted into selling mode, contributing to the broader correction of the cryptocurrency market. However, whales have scooped up thousands of ETH in the past days, suggesting that large-scale investors are capitalising on the current market conditions [1].
In summary, Ethereum is expected to undergo a short-term rebound from its recent lows in early August 2025, potentially reaching above $4,200 soon, supported by strong institutional interest and technical signals, while longer-term projections remain bullish [1][2][3][4]. For ADA, many analysts foresee a renewed uptrend, although no specific new targets were mentioned. Regarding Bitcoin, while it remains oversold, forecasts for a significant rebound are promising, with potential prices reaching up to $145,000 or $150,000.
- Following the recovery anticipated for Ethereum (ETH), various analysts expect the price of crypto assets like Bitcoin (BTC) to also rebound, with CRYPTOWZRD forecasting a potential pump for BTC to reach $145,000 and Grypto GEMs setting a target of $150,000 if BTC breaks $120,000.
- Retail investors have contributed to a broader correction of the cryptocurrency market, but conversely, large-scale investors, such as whales, have been actively purchasing Ethereum (ETH) in recent days, signaling strong institutional interest in the technology.
- In contrast to predictions for Ethereum and Bitcoin, Cardano (ADA) is expected to undergo a renewed uptrend by analysts including Ali Martinez, Hardy, and Smith, as its price structure resembles the last bull cycle; however, no specific new targets were mentioned for ADA.
