Ethereum saw a massive rejection from its overnight highs that led it to reel lower today, erasing part of the gains that were incurred during yesterday’s uptrend
This has caused the crypto to flash signs of technical weakness, especially while looking towards its Bitcoin trading pair
One analyst is also pointing to an extremely bearish XRP fractal pattern that ETH has been closely tracking as a potential reason why lower lows are imminent
Ethereum incurred a massive uptrend yesterday alongside Bitcoin and the aggregated crypto market, climbing from daily lows of under $200 to highs of $230 overnight.
This uptrend allowed it to erase a good bulk of its recent losses and has put it back into firm bull territory.
Despite this, the cryptocurrency’s technical situation is showing signs of growing incredibly weak, and some analysts are now looking towards a fractal pattern seen between ETH and XRP for insight into where the second largest crypto may trend next.
Ethereum Reels from Overnight Highs as Technical Situation Degrades
At the time of writing, Ethereum is trading up just over 2% at its current price of $212.60, marking a notable decline from daily highs of nearly $230 that were set late last night.
This upside movement came about in tandem with that seen by Bitcoin, with the benchmark cryptocurrency pushing as high as $9,500 overnight before losing its momentum and declining back into the upper-$8,000 region.
ETH is significantly underperforming BTC at the moment, trading down over 5% against its Bitcoin trading pair due to the heavy retrace seen in the time following yesterday’s downside movement.
It now appears that bears could be well positioned to push Ethereum even lower in the days and weeks ahead, as the crypto lost a key technical level that now opens the gates for a downside movement to its first key support.
One popular pseudonymous trader on Twitter spoke about the loss of this level in a recent tweet, offering a chart showing that ETH may retrace to 0.0235 BTC – down from its current price of 0.0241 BTC. If this near-term support is lost, it may continue declining to 0.021 BTC.
“ETH bulls don’t want to lose this level,” he warned.
Image Courtesy of Teddy
This Fractal Spells Trouble for ETH
Fractal patterns can be hit or miss – with some offering incredible insights into an asset’s future trend, while others are quickly invalidated.
There is one interesting Ethereum fractal, however, that has shown a striking similarity to previous price action seen by XRP.
Another pseudonymous trader offered this pattern in a tweet, explaining that it could signal that new lows within the sub-$100 region are imminent for ETH.
“Euphoric day for the bulls, but keep in mind, just because we’ve nearly fully retraced the dump, doesn’t mean the bottom is in and we’re headed for all-time highs. Fractal featuring XRP and ETH,” he said while pointing to the fractal seen below.
Image Courtesy of Calmly
Featured image from Unplash. origin »
Ethereum price is moving lower below the $1,800 support against the US Dollar. ETH could accelerate lower toward the $1,650 support in the near term. Ethereum is currently moving lower from the $1,850 resistance zone.
Ethereum has plunged lower over the past day as a result of strong selling pressure in the altcoin market. It began with XRP, which began to drag lower after it was revealed that the U. S. Securities and Exchange Commission (SEC) would be suing the Ripple company.
Like most other crypto assets, Ethereum has slipped lower over the past four days. After peaking on Monday, all cryptocurrencies have retraced as Bitcoin has fallen lower seemingly due to a rise in the value of the U.
The Ethereum community, out of nowhere, had a lot to look up to over the past month.
After a forgettable March, a month when the valuation of ETH dropped down to the lower levels of $100, recent stThe post Grayscale's Ethereum accumulation is a potential masterstroke in the long run appeared first on AMBCrypto.
Ethereum is following a short term declining pattern from the $198 resistance against the US Dollar. ETH could spike towards the $188 or $185 support before it rallies above $200. Ethereum is slowly moving lower after it failed to surpass the $198 and $200 resistance levels.
Ethereum, like most of its peers, has incurred a slight amount of selling pressure today that has led it to decline from highs of just under $200 that were set yesterday. This tempered move lower comes as the crypto is caught within a firm mid-term uptrend.
Ethereum is down around 7% and it broke the $175 support area against the US Dollar. ETH price could correct further, but there are many key supports, starting with $165 and $160. Ethereum is currently correcting lower from the $185 swing high.
Ethereum is currently correcting lower from the $176 monthly high against the US Dollar. ETH price remains well supported on the downside near the $162 and $158 levels. Ethereum is correcting lower and trading below the $170 level against the US Dollar, similar to bitcoin.
The IOHK blockchain technology company led by Charles Hoskinson, the Ethereum co-founder, has announced on March 25 the Ouroboros Hydra, its second-layer Cardano blockchain scalability solution. The Hydra protocol is going to improve the scalability of Cardano, which means it’s going to perform more transactions at lower fees, making it easier for the blockchain applications […]
It’s no secret that cryptocurrencies are performing horribly. Over the past week, Bitcoin, Ethereum, and the rest of them have been trading dramatically lower, falling as traditional markets enter a bear market.
The aggregated crypto market has found itself caught within a firm bout of sideways trading over the past couple of days, with Bitcoin hovering around $8,800 while Ethereum (ETH) and other major altcoins have all started drifting lower.
Bitcoin hasn’t fared too well over the past week, and altcoins haven’t either. After finding a local high last Sunday, the cryptocurrency started to tank lower and lower, falling as global markets came under a crunch.
Ethereum started a downside correction from the $288 high against the US Dollar, similar to bitcoin. ETH price is now forming a strong support above $260 and it could climb higher again. ETH price is trading with a solid bullish sentiment above the $260 level against the US Dollar. The price corrected lower recently, but...
Ethereum, like other altcoins, has surged exponentially in 2020. However, the aforementioned surge is facing resistance and there is a possibility it retraces a lower support. At press time, Ethereum The post Ethereum's exponential rally to end; retracement to $281 possible appeared first on AMBCrypto.
The total value locked (TVL) in decentralized finance applications has surpassed $1 billion, prompting celebrations from the Ethereum community. Not everyone has been swift to toast the milestone, however, with suggestions that the true value locked into defi protocols is materially lower.
Ethereum price is trading in a positive zone above the $185 support against the US Dollar. ETH remains well bid and it is likely to bounce back from the 100 hourly SMA. Ethereum is currently correcting lower from the $195 yearly high against the US Dollar.
Ethereum surged to a new 2020 high at $187 and it is currently correcting lower against the US Dollar, similar to bitcoin. ETH price must stay above $178 to continue higher in the near term. ETH price is currently correcting lower from the $187 yearly high against the US Dollar.
Syscoin has launched a new interoperability protocol called Syscoin Bridge, which enables ERC-20 tokens to cross back and forth between the Ethereum and Syscoin blockchains. Easing Ethereum’s Scalability Woes The Bridge protocol means that Ethereum developers can leverage Syscoin’s higher throughput and lower transaction fees for their dApps.
Ethereum is down more than 10% from the 2020 high against the US Dollar, similar to bitcoin. ETH price is likely to test the $148 support area before a fresh increase. ETH price is currently correcting lower from the $179 swing high against the US Dollar.
Ethereum price is declining and it recently broke the $160 support, similar to bitcoin. ETH price is likely to continue lower below the $158 and $155 support levels in the near term. Ether price is showing a few bearish signs below the $162 level against the US Dollar.
Hxro, an alternative crypto trading and gaming platform, recently announced it will integrate Matic Network (MATIC), an Ethereum scaling solution. Matic provides an Ethereum based layer-2 solution for faster transaction confirmations at significantly lower fees.
Ethereum started a downside correction from the $148 resistance versus the US Dollar, similar to bitcoin from $8,450. However, ETH price is still in an uptrend unless there is a close below $135. Ether price corrected lower after it failed to bounce from the $142 support against the US Dollar.
The world’s second largest crypto asset has had a pretty dismal year, ending it almost 7% lower than it began 2019. Ethereum fundamentals have not really faltered though and an impending hard fork is another step in upgrading the platform.
Bitcoin and Ethereum are set to close the year with gains. Meanwhile, XRP is on track to post heavy losses. Bitcoin Bitcoin tested towards the lower end of its short-term trading range on the last trading day of December, as cryptocurrency traders looked to the BTC/USD pair’s yearly price close.
Ethereum has had a pretty miserable 2019. Things could get worse before the year is out though as the asset gets dumped on exchanges and community angst grows. Ethereum Has Had a Rough Year The world’s second largest crypto asset by market cap is currently trading lower than it was this time last year.
Ethereum is correcting lower from $135 and it is trading above $125 against the US Dollar. The price is likely to remain in a positive zone as long as it is above $120. There is a breakout pattern forming with resistance near $128 on the hourly chart of ETH/USD (data feed via Kraken).
Ethereum has followed Bitcoin’s catastrophic slump in the past 48 hours, falling off key support levels at $140. Now trading at $123, analysts predict a further slump could drive a massive sell-off and send prices even lower.
Ethereum has been closely tracking Bitcoin’s price action in recent times, which has proven to be largely bearish. Both BTC and ETH are now trading at key support levels, and any further near-term downside could spark a massive capitulatory sell off that sends the cryptos reeling lower.
Google Trends, a search engine explorer and indicator for interest in cryptocurrency, has declined tenfold over the last two years. Are its glory days far behind?
There are now less searches for ethereum on Google than during some weeks of 2016 when its price was just $20 at the then peak. According to Google Trends, ethereum...
The post Ethereum Google Searches Now Lower Than Even in 2016 appeared first on Trustnodes.
Ethereum data analytics firm Dune Analytics has reported that weekly trading volume among decentralized exchanges (DEXs) has increased by 145% since last week. 2019 has been an important year for P2P trading, as users turn to it for increased security, lower fees and quicker settlement.
Ethereum is currently consolidating losses above the $172 support against the US Dollar. Bitcoin price is also consolidating above the key $8,000 support area. There is a new connecting bearish trend line forming with resistance near $176 on the hourly chart of ETH/USD (data feed via Kraken).
Ethereum price is currently declining and it is trading below the $188 level against the US Dollar. It is holding the $185 support area, but there is a risk of more downsides in the near term. This week’s major bullish trend line was breached with support near $189 on the hourly chart of ETH/USD (data.
After a long period of trading sideways within the mid-$180 region, Ethereum (ETH) has now begun to incur significant upwards momentum that has pushed it up to $190, which is where it faces some notable resistance that could ultimately push its price lower in the near-term.
Bitcoin price is up around 3% and it climbed above the $9,400 resistance against the US Dollar. The price is currently correcting lower after tagging the $9,600 resistance area. There is a key bullish trend line forming with support near $9,340 on the hourly chart of the BTC/USD pair (data feed from Kraken).
Ethereum’s price has been slowly grinding lower over the past 24-hours which comes about as the asset sees an even further decline in its on-chain volume, and ETH is now at risk of breaking below a key short term support level, which could mean that a period of capitulation is imminent.
In 2019 to date, Bitcoin price has registered an increase of 145% as it trades near $9,300 BTC/USD level. Unlike the leading cryptocurrency, top cryptocurrencies like Ethereum (34. 7%), EOS (28. 8%), Tron (1.
Ethereum’s price action has been largely guided by that of Bitcoin over the past several days, and ETH’s bulls are now showing some signs of losing strength as the crypto inches lower today. This potential bearishness comes as the crypto sees an influx of network activity and heightened trading volume.
ETH price rallied recently and broke many resistances near $172 and $185 against the US Dollar. The price even spiked above the $188 resistance and it is currently correcting lower. There was a break above a significant bearish trend line with resistance near $170 on the 4-hours chart of ETH/USD (data feed via Kraken).
Google searches for ethereum have never been lower since February 2017, standing at 3 out of 100 in the United States. Worldwide they stand at 5 out of 100, again...
The post Social Volumes “Capitulate” While Ethereum Google Searches Reach Their Lowest in Nearly Three Years appeared first on Trustnodes.
Special thanks to the Gitcoin team and especially Frank Chen for working with me through these numbers
The next round of Gitcoin Grants quadratic funding has just finished, and we the numbers for how much each project has received were just released.
Ethereum’s price has an extremely bullish bias due to formation of a descending channel on a higher time frame and the falling wedge on a lower time frame. The price of ETH is currently close to testing $160-$165 support.
Ethereum has plummeted lower today concurrently with Bitcoin’s drop below $8,000, which points to an underlying bearishness for the aggregated crypto market and may mean that significantly further losses are in store for ETH before it is able to find support and climb higher.
When it comes to cryptocurrencies, Bitcoin (BTC) has long been considered the king, while Ethereum (ETH) and Litecoin (LTC) are typically regarded as secondary. However, when compared to TRON (TRX), each of their Network to Transaction Ratios (NVT Ratio) are almost always lower.
Ethereum’s recently incurred upwards momentum has faltered after Bitcoin and the aggregated crypto markets hit a massive level of resistance overnight that shifted the tides and sparked a short-term downtrend.
Ethereum Classic Labs (ETCLabs), a blockchain incubation and acceleration subsidiary for Ethereum Classic’s network, has announced its partnership with enterprise blockchain solution provider, Bloq, to provide infrastructure for EthereumStack.
ETH is well above its key support of $178 Weekly candle looks to be forming a doji, which is preceded with a downtrend so that might signal a long-term trend reversal Lower timeframes, like 4H, signal a bullish cross of MA50 and MA200 with price hovering above that intersection.
ETH price surged higher and broke the key $185 resistance against the US Dollar. The price is currently correcting lower after setting a new monthly high near the $196 level. There is a short term breakout pattern forming with support near $191 on the hourly chart of ETH/USD (data feed via Kraken).
The latest cryptocurrency investment of a US legislator, who bought Ethereum (ETH) when its price dropped below $3,000, is generating headlines. Representative Michael Collins has reportedly taken advantage of the dip by purchasing between $1,000 and $15,000 worth of Ethereum.
Analysts said that two of the biggest cryptocurrencies in the world are riding on the waves of positive sentiments as the exchange-traded funds of Bitcoin and Ethereum reached record highs. The pro-cryptocurrency stance of US President-elect Donald Trump continues to fuel the positive outlook, propelling BTC and ETH to attain unprecedented levels. Related Reading: Operation […]
On Monday, the State of Michigan revealed substantial investments in cryptocurrency exchange-traded funds (ETFs) for Bitcoin and Ethereum in a 13F filing with the US Securities and Exchange Commission (SEC).
For years, Ethereum has established itself as the second-best competitor to Bitcoin regarding technology, innovation, and use cases. If many consider Bitcoin as ‘digital gold,’ Ethereum would be ‘digital silver.
According to veteran trader Peter Brandt, Ethereum might have just seen its future looking brighter. Known for his technical forecasts, Brandt feels the altcoin is on the verge of a bullish turnaround.
On-chain data shows the Ethereum adoption rate has hit a four-month high, which could be bullish for the cryptocurrency’s price. Ethereum Network Growth Has Shot Up Recently According to data from the on-chain analytics firm Santiment, the ETH blockchain has recently created many wallets.
Ethereum (ETH) is currently facing significant selling pressure and fear after a 23% decline, bringing its price down to yearly lows at $2,200. One major concern for investors is the ongoing underperformance of ETH compared to Bitcoin, a trend that has persisted since September 2022.