Ethereum News Today: Ethereum Nears $3,600 as Aave Slides and BlockDAG Hits $364M Presale

Ethereum price action has recently shown renewed strength, with the cryptocurrency hovering near the $3,600 level and drawing attention to its potential to break into the $4,000 range [1]. Analyst Benjamin Cowen has suggested that while short-term bearish pressure could persist through September, a rebound is expected to follow, potentially setting the stage for a long-term rally between $5,300 and $7,500 by late 2025 [1]. However, immediate resistance remains between $3,800 and $3,900, with key support zones around $2,400–$2,700. Until a breakout is confirmed, Ethereum’s price action is expected to follow a pattern similar to its past consolidation cycles [1].

In contrast, Aave (AAVE) has shown signs of bearish momentum after breaking below a key ascending trendline. On-chain indicators such as Spot Taker CVD and short position data indicate continued downward pressure, with the RSI below 50 and a bearish MACD crossover reinforcing the negative outlook [1]. If AAVE fails to hold above $242, the next potential target lies at $225. A reversal above $282.84 could reinvigorate the Aave (AAVE) price forecast, but for now, analysts caution that a double-digit correction may be imminent [1].

Meanwhile, BlockDAG (BDAG) has introduced Dashboard V4, a major milestone in its presale development that allows early buyers to simulate real-time trading with full BUY and SELL functionality, dynamic pricing, and advanced charting tools [1]. This move marks a shift from traditional presale models by giving participants a live trading environment before the token’s official listing. The presale has now surpassed $364 million, with 24.8 billion BDAG coins sold. Batch 29 is currently priced at $0.0276, while a limited-time offer of $0.0016 remains active until August 11 [1].

In addition to the presale momentum, BlockDAG is demonstrating real-world utility through its mining hardware initiatives. Over $7.7 million in miner sales and the distribution of 19,000 units highlight the project’s operational preparedness [1]. By combining immediate utility with a live trading experience, BlockDAG is distinguishing itself from speculative presales, emphasizing transparency and market readiness [1].

Source: [1] BlockDAG Presale Gains Momentum as Trading Interface Goes Live with Ethereum and Aave in Focus (https://blockchainreporter.net/eth-price-action-surges-4k-next-aave-wobbles-while-blockdag-switches-on-trading-with-new-dashboard-v4/)