Ethereum price fell 2% to around $1,847 on Aug. 3 after another rejection near key moving averages left the $1,800 support zone exposed.

ETH slides after failing to reclaim $1,900

According to data from crypto.news, Ethereum (ETH) price traded at $1,847 at the time of writing, down 2.04% over the previous 24 hours. The token moved between an intraday high of $1,886 and a low of $1,829 on Binance.

The decline extended ETH’s retreat from its July 27 high near $1,975. Buyers have now failed several times to sustain a move above the resistance zone between $1,950 and $1,975.

ETH briefly rebounded after touching $1,828, but the recovery stalled around $1,850. That left the token near the lower end of its recent trading range and inside the closely watched $1,800–$1,850 support area.

The broader daily structure also remains defensive. Ethereum trades below its 50-day simple moving average at $1,889, its 100-day SMA at $1,927, and its 200-day SMA at $2,089.

Weak liquidity deepens Ethereum’s sell-off

The immediate pressure came from Ethereum’s failure to reclaim the moving-average resistance between $1,889 and $1,927. Sellers entered after the latest attempt faded, pushing ETH below $1,850 and toward its Aug. 3 low.

The 4-hour chart shows the price rolling over after forming a broad curved top below $1,975. Lower highs since late July suggest that buying demand has weakened, although ETH must still break below $1,800 to confirm a larger bearish continuation.

Momentum indicators support the cautious outlook. The 4-hour Moving Average Convergence Divergence remains below zero, with the MACD line near -10.46 and the signal line at about -9.92.

Chaikin Money Flow stands at -0.14. The negative reading indicates that selling volume has outweighed buying volume over the indicator’s measurement period.

Ethereum also faces broader liquidity pressure. A sharp weekly decline in Binance stablecoin netflows suggests less immediately available capital is entering the exchange, potentially reducing the buy-side liquidity available during market declines. However, exchange flows can change quickly and do not determine price direction alone.

Longer-term concerns include weaker institutional demand for Ethereum products relative to Bitcoin and lower mainnet fee revenue as activity shifts toward Layer-2 networks. These factors have weakened Ethereum’s investment narrative, but the current move remains primarily tied to the chart rejection and wider risk-off positioning.

Losing $1,800 could expose ETH to $1,700

The first support range sits between $1,828 and $1,800. ETH has already attracted buyers near the upper part of that zone, but repeated tests could weaken the remaining demand.

Ethereum’s lower daily moving-average ribbon stands near $1,785. A daily close below that level would strengthen the bearish setup and expose $1,700, followed by the June accumulation region around $1,550–$1,600.

CoinGlass’ 24-hour liquidation heatmap shows nearby leveraged-position clusters around $1,840, $1,820 and $1,810. A move through those levels could liquidate leveraged long positions and accelerate short-term volatility.

The map also shows overhead liquidity around $1,860–$1,875. If ETH rebounds above that range, short liquidations could help drive the price toward $1,890 and $1,920.

On the upside, Ethereum must first reclaim its 50-day SMA at $1,889. A daily close above the 100-day SMA at $1,927 would improve the setup, while a breakout above $1,975 would invalidate the current sequence of lower highs and place $2,000 back in focus.

The daily Relative Strength Index stands at 48.81, below its signal average of 56.44. The reading points to weakening momentum but remains well above oversold territory, leaving room for further selling if $1,800 fails.

Analyst sees Ethereum at a critical support zone

Crypto analyst Ted Pillows described the current support range as decisive for Ethereum’s next move.

“ETH is currently in the $1,800–$1,850 support level,” Pillows said. “This is very crucial for Ethereum to hold, or else it could drop towards $1,700.”

His chart presents two potential paths. Holding the current zone could allow ETH to recover toward $1,950 and then $2,050, while a confirmed breakdown could send the price toward $1,700.

The forecast aligns with the support levels visible on the daily chart, but the $1,700 target would require ETH to lose both the psychological $1,800 level and support near $1,785.

Fed outlook adds pressure on US crypto investors

Changing expectations for US monetary policy remain an additional risk for Ethereum and other speculative assets. Higher Treasury yields and a stronger dollar can reduce investor demand for crypto by increasing the relative appeal of dollar-denominated assets.

Slower-than-expected Federal Reserve rate cuts would keep financial conditions tighter and could limit institutional risk-taking. Ethereum may therefore remain sensitive to upcoming US inflation, employment and Fed policy signals.

For US investors, the near-term setup depends on whether ETH can defend $1,800 as macro liquidity remains constrained. A recovery above $1,927 would improve the technical outlook, but a daily close below $1,785 would shift attention toward $1,700.

Solana price slipped below $73 on Aug. 3 as weak spot demand and sustained capital outflows raised the risk of a drop toward $70.

Solana price extends its decline below $73

According to data from crypto.news, Solana (SOL) price traded at $72.55 on Aug. 3, down 1.47% on the daily chart after moving between an intraday high of $73.67 and a low of $71.98.

The decline extended a broader pullback from the July high near $82.50. SOL has formed a sequence of lower highs since that peak, with sellers defending rebounds around $78 and then $76.

Price has now fallen below the daily Bollinger Band midpoint at $75.09. This level previously acted as support but has turned into the first major resistance area.

SOL briefly moved below the lower Bollinger Band at $71.49 before recovering above $72. That reaction shows buyers remain active around $71.50–$72, but the limited rebound suggests they have not regained control.

The Awesome Oscillator stood at -3.56, with its red bars expanding below zero. That reading points to strengthening bearish momentum on the daily timeframe rather than an immediate trend reversal.

Flat spot demand weakens SOL’s recovery

Solana attempted to rebound after falling toward $71 on Aug. 2, but spot demand failed to recover alongside price.

Analyst Ted Pillows described the divergence as a sign of weakness.

“$SOL is bouncing back. But spot demand is flat. Sign of weakness.”

The 4-hour Chaikin Money Flow reading supports that view. CMF fell to -0.17, meaning more capital was leaving SOL than entering it during the measured period.

Declining spot participation can leave a rebound dependent on leveraged derivatives positions. Such moves are more vulnerable to reversals because they lack the direct buying pressure needed to absorb new selling.

The weakness also comes as activity tied to speculative Solana tokens cools from previous peaks. Lower decentralized exchange activity and weaker fee generation would reduce one source of demand for SOL, which traders need to pay network fees and interact with on-chain applications.

Four-hour indicators keep sellers in control

Solana remains below every major moving average displayed on the 4-hour chart. The 20-period SMA stands at $72.96, followed by the 50-period SMA at $73.88 and the 100-period SMA at $75.06.

The 200-period SMA, currently near $76.79, represents the strongest overhead technical barrier. SOL would need to reclaim that level to weaken the current sequence of lower highs.

The moving averages are also bearishly ordered, with each shorter-term average sitting below the longer-term measures. That structure suggests the decline is established across several trading horizons.

A move above $72.96 could open a retest of $73.88. The $73.88–$75.06 range is particularly important because it combines two moving averages with liquidity visible on the three-day liquidation heatmap.

Failure to reclaim that area would leave SOL exposed to another test of $71.50. A daily close below the lower Bollinger Band could bring $70 into focus, followed by the June support region near $67.50.

Liquidation clusters could increase volatility

CoinGlass’ three-day liquidation heatmap shows the largest nearby concentration of leveraged positions above the current price, particularly around $73.50–$74.

Additional liquidity appears near $74.50 and $76, creating potential targets if SOL begins a short-covering rebound. A move into these clusters could force bearish traders to close positions, accelerating the recovery.

However, liquidity also appears below the market around $71.50 and $70. These clusters could attract price if support near $72 fails.

This leaves SOL between competing liquidity zones. The closer upside concentration could produce a short-term bounce, but the weak CMF reading and bearish moving-average structure suggest any recovery must be confirmed by stronger spot buying.

Fee-burn vote offers Solana a potential catalyst

SolanaFloor reported that proposals addressing Solana’s fee burn and token disinflation were set to enter an initial vote on Aug. 3.

According to the report, the measures would double annual disinflation to 30%, remove about $1.36 billion in projected token issuance over six years and increase daily burns from roughly 650 SOL to 9,000 SOL.

Those figures remain projected outcomes rather than confirmed changes. The proposals must progress through governance before they can alter SOL’s supply dynamics.

For US investors, the immediate backdrop also remains tied to broader risk appetite. High-beta tokens such as SOL can face added pressure when elevated Treasury yields make lower-risk dollar assets more attractive. A shift in Federal Reserve expectations or US yields could therefore affect whether buyers return at the current support zone.

The short-term outlook remains bearish below $75.06. Reclaiming that level would improve the setup and expose $76.79, while a confirmed break below $71.49 would increase the risk of a move toward $70.

Strategy (MSTR) raised $104.73 million last week with the sale of 1,638 bitcoin, and raised an additional $290.6 million via the sale of common stock.

Alongside, the company repurchased 912,143 shares of its high-yielding preferred stock STRC for $81.2 million, according to an SEC filing Monday morning.

The bitcoin sales reduced Strategy’s holdings to 842,138 BTC, acquired for $63.51 billion at an average price of $75,419. The company lifted its USD reserve by $250 million.

The company announced over the weekend that it would maintain STRC’s annual dividend rate at 12%, saying it does not intend to recommend a reduction until the shares trade consistently near their stated $100 value.

South Africa has proposed new rules requiring cross-border crypto transfers to pass through authorized providers and be reported to the central bank, expanding the country’s effort to bring digital assets under its financial control framework.

According to local media, South Africa’s National Treasury and the South African Reserve Bank (SARB) on Monday released a draft Crypto Asset Manual setting out when crypto transactions become regulated cross-border events and how they must be handled. The proposal forms part of the country’s ongoing overhaul of its capital flow rules first introduced in April.

South Africa has defined when crypto transfers become reportable

Under the draft, moving crypto offshore will only qualify as a cross-border transaction in specific situations. A report to the SARB’s Financial Surveillance Department (FinSurv) would be required when crypto assets move from a locally authorized Crypto Asset Service Provider (CASP) to an offshore CASP or into a privately controlled non-custodial wallet.

The proposal says people who wish to transfer crypto abroad would have to use an authorized provider instead of sending assets directly through unregulated channels. FinSurv would receive reports of those transactions as part of the country’s foreign exchange monitoring process.

Domestic crypto activity would remain outside those reporting requirements. Buying or selling crypto in South African rand through a local authorized provider would not be treated as a cross-border event under the proposed framework.

For now, the draft allows only individuals to move crypto assets offshore, and only within South Africa’s existing foreign currency allowances. The SARB also said the framework does not recognize crypto assets as legal tender and currently does not distinguish between different categories of digital assets because additional research is still underway.

Interested parties can submit comments on the draft until Sept. 30.

Crypto rules build on South Africa’s earlier capital flow proposal

The new manual follows South Africa’s Draft Capital Flow Management Regulations released in April, which proposed bringing crypto assets into the country’s foreign exchange control system for the first time.

The National Treasury and SARB said in April that crypto assets would be treated as a form of capital moving across borders, placing them alongside other regulated assets under the country’s capital flow regime. The proposal was also designed to replace South Africa’s Exchange Control Regulations dating back to 1961 while aligning the country’s framework with recommendations from the Financial Action Task Force and the Organisation for Economic Co-operation and Development.

The April proposal introduced the concept of authorized crypto service providers, transaction reporting, declaration requirements and administrative penalties for non-compliance. Treasury officials said at the time the policy would focus on reporting, traceability and risk-based oversight instead of relying only on transaction-by-transaction approvals.

The draft Crypto Asset Manual now explains how those principles would work in practice by defining the point at which crypto movements become cross-border transactions that fall under financial surveillance rules.

Authorities have linked the framework to financial crime controls

According to Reuters, the reporting framework is intended to stop crypto assets from being used to bypass South Africa’s existing financial controls while helping authorities identify illicit financial flows.

By limiting offshore transfers to authorized service providers, regulators would receive transaction data through FinSurv instead of relying on transfers conducted outside the regulated financial system.

The proposal arrives as crypto adoption continues to grow in South Africa. Reuters, citing blockchain analytics firm Chainalysis, said the country already has hundreds of licensed virtual asset service providers, while several major banks are developing crypto products for institutional clients.

South Africa has become one of Africa’s largest digital asset markets in recent years. Earlier industry estimates placed annual crypto transaction value in the country among the highest on the continent, while blockchain investment has continued to attract institutional interest.

Crypto oversight has expanded beyond capital controls

The latest consultation follows another crypto policy proposal published in July by the South African Revenue Service (SARS), which released draft guidance explaining how existing tax laws apply to digital assets.

Unlike the latest capital flow proposal, the SARS draft focused on taxation rather than foreign exchange regulation. It confirmed that crypto assets are treated as intangible assets instead of legal tender or foreign currency under existing tax law and explained how income tax and capital gains tax could apply depending on each taxpayer’s circumstances.

The tax authority also outlined how activities including crypto trading, token swaps, staking, mining, decentralized finance participation and crypto payments may trigger taxable events under current legislation.

At the same time, South Africa has begun implementing the Crypto-Asset Reporting Framework (CARF), under which crypto service providers will collect and report selected customer and transaction information to SARS. The first reporting period runs from March 1, 2026, through Feb. 28, 2027.

A solo miner scored a major win even as the broader market frets over a multimillion-dollar Coldcard hardware wallet exploit.

According to mempool data, an independent miner successfully packaged block 960,804 early Monday. The block reward of 3.157 BTC is valued at approximately $199,300. Details on the specific hardware used remain unknown.

The success came just three weeks after another solo miner, running a single hobbyist-grade Bitaxe device, struck block 957,382, pocketing 3.1382 BTC, worth roughly $200,000 at the time.

These back-to-back wins highlight a broader trend. Solo miners have already claimed 13 blocks this year. While individual operators continue to defy the odds with relatively modest setups, the wider Bitcoin mining sector has come under stress due to tight margins. That has prompted several large mining companies to pivot toward artificial intelligence data centers and related infrastructure in search of sustainability.

Meanwhile, small BTC holders continue to express frustration over the Coldcard incident, which has led to the loss of long-held Bitcoin savings. Over the weekend, onchain data showed signs of some BTC holders moving millions of dollars worth of coins to exchanges.

Bitcoin could confirm a bear-market bottom in August with a monthly close above $63,000, according to 10x Research.

Markus Thielen, founder of 10x Research, said in a Monday report shared with Cointelegraph that Bitcoin closed July below the threshold needed to confirm a technical bottom.

A monthly close near $63,000 would turn several of 10x Research’s cycle indicators bullish. Bitcoin was trading at $63,140 when the analysis was prepared, meaning a relatively small gain from July’s closing level could trigger the reversal signal. The company said it continued to favor long positions but would shift to a neutral stance if Bitcoin broke key support levels and moving averages.

The base case is that the Federal Reserve holds interest rates steady. However, further increases in the 10-year Treasury yield could force a September rate hike, while the Iran conflict remained an unpredictable risk.

The report said miners could generate roughly 100,000 BTC of selling pressure as some miners shift their businesses toward artificial intelligence. The company said it expected additional supply from Bitcoin treasury companies unwinding positions, though it described macroeconomic conditions as the larger risk to the market.

Bitcoin monthly relative strength index (RSI) chart. Source: 10x Research 

Separately, Grayscale head of research Zach Pandl said in a July 22 report that Bitcoin may have bottomed earlier than the traditional four-year cycle would suggest. That pattern would place the cycle low in September or October.

Pandl said macroeconomic conditions, including Fed policy, would remain the primary drivers of Bitcoin’s price and could determine when it bottoms.

Related: Strategy-led group pledges $15M to quantum-proof Bitcoin network

More indicators point to an approaching Bitcoin bottom

Earlier in July, crypto brokerage K33 said more than half of Bitcoin’s supply was held at a loss, which it described as another indication that a market bottom was approaching.

Bitcoin during periods when 50% of supply was held at a loss, with subsequent annual returns. Source: K33

Bitcoin bottomed within 13 to 31 days of the same threshold being reached in 2017, 2018 and 2022, according to K33.

In a June interview, Swan Bitcoin CEO Cory Klippsten told Cointelegraph that long-term holders’ record balance of 14.7 million BTC was another indication that Bitcoin was nearing a bottom.

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