The cryptocurrency market continues to attract investors' attention. We will review the current state of prices for Ethereum, PEPE, and AAVE, along with the growth prospects of other projects.
Pressure on Ethereum Price
Ethereum is currently priced at $4,296, down 2.58% from the previous day. Despite a recent high of $4,955, ETF outflows and increasing short-term uncertainty raise concerns. Indicators show record low supply on exchanges, indicating that large players are holding their assets tight. However, futures market data shows $570 million in net selling pressure, suggesting traders may be shifting away from ETH to Bitcoin.
Additionally, a major investor sold off long ETH positions and flipped to short Bitcoin using 25x leverage. With ETF outflows hitting $447 million, analysts warn that while a rebound is possible, the near-term trajectory remains unclear. Ethereum's price must reclaim $4,600 with volume to resume bullish momentum.
Growth of PEPE and Its Potential
PEPE is priced at $0.00000976 and has broken out of its meme-only narrative. Analysts believe PEPE could revisit $0.000016 soon, with upside targets at $0.000043 and even $0.000065 using Fibonacci projections. Despite its speculative nature, PEPE has gained support by securing listings on Binance and Kraken, and building out NFT partnerships.
Recent volume suggests that accumulation is underway, and expert projections point to a possible move to $0.000025 by 2025 in a base-case scenario. The PEPE price may climb even higher if meme sentiment aligns with another retail-driven bull run, but limited utility and heavy volatility remain significant barriers.
Technical Levels of AAVE and Their Importance
AAVE is currently priced around $301, hovering below its key resistance zone at $318. This project has solid fundamentals, including integration with real-world assets and recent deployments on Aptos. However, on-chain data shows $2.28 million in inflows on September 5, which may indicate profit-taking by large holders.
To signify a bullish reversal, AAVE must convincingly cross $318 and reclaim the $325-$330 level. Otherwise, it may slip back to $300 or even $290 support. In the short term, uncertainty prevails, but AAVE remains attractive for long-term institutional DeFi participants.
The cryptocurrency market displays a variety of opportunities. While Ethereum faces pressure, PEPE and AAVE have growth potential, and investors should carefully assess options to achieve their financial goals.
