Key Takeaways
- Ethereum has gained over 1,200 points since Jul. 22.
- Multiple indexes now anticipate a correction given the significant gains.
- Transaction history shows that ETH’s downside potential might be capped at $2,770.
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Market participants have rushed to buy ETH following Ethereum’s much-anticipated London hardfork. Although prices have risen due to the growing demand, some technical and on-chain metrics suggest that a spike in profit-taking is underway.
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