Ethereum (ETHUSD), the second-largest cryptocurrency, bottomed out on August 5 at $2121, like Bitcoin (BTCUSD) did. And that is essentially where the comparison ends. The former has increased by over 50% since then, whereas the latter has only added 27%. Moreover, while BTC is only 2% away from its ATH, ETH needs to rally 50% from current levels to play catch-up. See Figure 1 below. Due to this lackluster performance, we have not provided any public updates. In our last analyses, we asked if it would go to $900 or $9000. Unless we see a break above $2800 that will hold, $900 is becoming more likely. We don’t know why that is, but the why doesn’t matter. Namely, price is the aggregate of all market participants’ opinions about, in this case, Ether at any given time, and it follows that this combined opinion has soured.