In this video, I provide a detailed Elliott Wave analysis for Ethereum to determine if the next phase of the bear market is imminent or if further upside remains. I break down the current market structure, evaluating the corrective nature of recent price moves and identifying key resistance levels that could trigger a reversal or a deeper pullback.
Ethereum (ETH) is trading at approximately $1,900.56 as of August 7, 2026. The asset opened the session at $1,902.20, consolidating around the critical $1,900 threshold after experiencing modest positive momentum over the past week.
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Ethereum (ETH) Price News & Insights Today 7-8-2026 - Technical analysis, focusing on market structure, key support and resistance zones. Video by More #Crypto Online.
Ethereum Insights Today
-Cryptocurrencies are finding stability due to ongoing international negotiations to reopen the Strait of Hormuz. This has restored a general sense of risk appetite to global financial markets.
-Softening Labor Market: A weaker-than-expected July ADP jobs report has reduced market anticipation for upcoming Federal Reserve interest rate hikes. This macro shift serves as a favorable tailwind for risk-on assets like crypto.
-EIP-8361 Validator Reform: Six prominent core researchers have proposed a new Ethereum Improvement Proposal. The draft draft suggests gradually burning validator rewards as total staked ETH increases.
-Scarcity Mechanics: If total staked capital reaches roughly half of the total circulating supply, net token issuance would drop to zero. This anti-dilution measure is fiercely dividing DeFi participants but could enhance long-term token scarcity if passed.
-ETF Softness: Spot Ethereum ETFs have faced a challenging month, underscored by recurring net outflows. This structural sluggishness has dragged the ETH/BTC ratio down to multi-year lows near 0.029.
-Whale Liquidations: Large-scale institutional-grade liquidations—including a notable $170 million debt settlement on Binance—have created immediate sell-side friction, offsetting some retail spot accumulation.
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