Ethereum has been closely tracking Bitcoin’s price action over the past day, which has led it to once again enter a consolidatory phase within the mid-$130 region. This bout of sideways trading closely follows the crypto’s recent rally that sent it surging towards its key resistance at $140.
In the near-term, analysts are noting that Ethereum is currently approaching a critical support level that must be defended if bulls want to guard against further downside.
This comes concurrently with one top trader noting that ETH appears to be highly bearish against its USD trading pair, suggesting that a capitulatory decline could be imminent in the days ahead.
Ethereum Consolidates Alongside Aggregated Crypto Market
At the time of writing, Ethereum is trading flat at its current price of $136, which is around where it started the morning off yesterday.
ETH is currently trading down slightly from daily highs of $140 – a region that was visited on multiple occasions throughout the day yesterday, with each tap of this level leading to a significant influx of selling pressure that subsequently led it to decline to its current price region.
This lackluster price action has come about in tandem with that seen by Bitcoin, which is also currently consolidating following multiple failed attempts to breach its key resistance at roughly $6,900.
In the near-term, it does appear that Ethereum is quickly nearing a key support level on its BTC trading pair, with a failure to defend this level opening the gates for a noteworthy decline.
Bagsy, a prominent crypto trader, spoke about this in a recent tweet, telling his followers that he does anticipate ETH to hold above this level on its first test, with subsequent tests potentially catalyze a breakdown.
“ETH: Approaching support; I’m anticipating the midpoint holds here on a first test,” he explained.
$ETH
Approaching support; I'm anticipating the midpoint holds here on a first test. pic.twitter.com/yDiEbMGxFE
— Bagsy (@imBagsy) March 25, 2020
ETH Flashing Intense Signs of Bearishness Against USD
One factor that could lead ETH to break below its Bitcoin trading pair’s support is the fact that it is expressing signs of weakness against its USD trading pair.
DonAlt – a prominent cryptocurrency analyst on Twitter – spoke about this in a recent tweet, telling his followers that ETHUSD is bearish as long as it maintains below $150.
“ETH: The USD pair looks even worse. ETH dropped by 90%+ and is now ranging putting in lower highs and lower lows. I like being bullish as much as the next guy but as long as ETHUSD is trading & closing below $150 I see little reason to expect higher prices,” he explained.
$ETH
The USD pair looks even worse.ETH dropped by 90%+ and is now ranging putting in lower highs and lower lows.I like being bullish as much as the next guy but as long as ETHUSD is trading & closing below $150 I see little reason to expect higher prices. pic.twitter.com/MANaB9O2jn
— DonAlt (@CryptoDonAlt) March 25, 2020
Because Ethereum is moving in tandem with Bitcoin for the time being, whether or not it climbs past its intense near-term resistance will likely rest solely upon how BTC reacts to its resistance at $6,900.
Featured image from Shutterstock. origin »
Ethereum's price shows bullish signals, with the RSI and NUPL charts suggesting a possible surge to $5,000. Key analyses predict strong upward potential, provided key support levels hold.
The post Ethereum (ETH) Path to All-Time High: Hindered by Key Metric? appeared first on BeInCrypto.
Since Ethereum bounced off a key support level last month, the price increased steadily and broke through several key resistance levels to near a two-year high today. Its dominance stands at 17. 6% with no sign of weakness at the time of writing.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion
Ethereum Classic [ETC] hit a key price ceilThe post Ethereum Classic retraces to key support - Will bulls prevail? appeared first on AMBCrypto.
Ethereum price started a downside correction from the $1,840 zone against the US Dollar. ETH is still holding the $1,700 support and might attempt a fresh increase. Ethereum reacted to the downside from the key $1,840 resistance zone.
Ethereum price is down more than 20% from highs vs the US Dollar. ETH to USD is now trading near the key $230. 00 support area and it could correct in the short term. Key Takeaways: ETH/USD Ethereum price traded below the key $251.
Ethereum is down more than 2% and it is now well below $130 against the US Dollar. Bitcoin price weakened around 3% and it broke the key $7,000 support. Yesterday’s key bearish trend line is active with resistance near $131 on the hourly chart of ETH/USD (data feed via Kraken).
A group of veteran Ethereum ecosystem supporters formed a new DAO tasked with public outreach and marketing for the protocol, called The Marketing DAO. The organization includes former chief marketing officers from ConsenSys and Shapeshift among other key founders.
Ethereum price is struggling to climb above the $192 and $195 resistances against the US Dollar. It seems like a head and shoulders pattern forming with support near the $188 and $186 levels. This week’s key bullish trend line is intact with support near $188 on the hourly chart of ETH/USD (data feed via Kraken).
Ethereum is gaining momentum above $188. 20 resistance area vs the US Dollar. ETH to USD remained well supported on dips and it could continue to rise towards $198. 00 and $204. 00. Key Takeaways: ETH/USD Ethereum price is trading in an uptrend above the $184.
China’s national digital currency is in the works, which would monitor transactions and curb money laundering. However, according to a recent interview with CNBC on November 5, 2019, Ethereum co-founder, Joseph Lubin, believes that China’s central bank digital currency (CBDC) lacks a key component of blockchain technology, which is decentralization.
Ethereum price is trading nicely above the $185 and $186 support levels against the US Dollar. Bitcoin is holding the $9,200 support, but it is facing hurdles near the $9,400 level. Yesterday’s highlighted key bullish trend line is active with support near $186 on the hourly chart of ETH/USD (data feed via Kraken).
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 price is rising and it broke the key $185 and $186 resistance levels against the US Dollar. Bitcoin is up around 3% and it managed to climb above the $9,400 resistance. There is a new bullish trend line forming with support near $185 on the hourly chart of ETH/USD (data feed via Kraken).
Ethereum price is facing a lot of hurdles on the upside near $185 and $186 against the US Dollar. Bitcoin is somehow holding the key $9,000 and $8,960 support levels. There is a key bearish trend line forming with resistance near $182 on the hourly chart of ETH/USD (data feed via 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.
Ethereum price is under pressure and it could slide towards the $175 support against the US Dollar. Bitcoin is currently correcting higher and it recently tested the $9,000 support area. There was a break below a key bullish trend line with support near $186 on the hourly chart of ETH/USD (data feed via Kraken).
Ethereum price is showing positive signs above the $175 and $180 levels against the US Dollar. Bitcoin price is climbing higher and it is likely to revisit the key $10,000 resistance area. There is a rising channel forming with support near $183 on the hourly chart of ETH/USD (data feed via Kraken). The pair is...
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 2. 0 is nearing its final stages of launching with it expected around January-March 2020. A key component, the ETH1 bridge or the deposit contract, is going through a “blockchains”.
Ethereum declined heavily recently below the $169. 50 and $167. 20 supports vs the US Dollar. ETH/USD traded as low as $153. 22 and it is currently correcting higher towards key resistances. Key Takeaways: ETH/USD Ethereum price is under pressure and is trading well below the $167.
Ethereum price declined heavily below $170 and traded close to $150 against the US Dollar. Bitcoin price is down more than 8% and it even traded below the key $7,500 support. Yesterday’s highlighted bearish trend line is intact with resistance near $165 on the hourly chart of ETH/USD (data feed via Kraken).
Ethereum price is declining again after it failed to break $178 and $180 against the US Dollar. Bitcoin price is also moving down and it is likely to break the $8,000 support area. There is a key bearish trend line forming with resistance near $172 on the hourly chart of ETH/USD (data feed via Kraken).
Ethereum price is currently correcting higher and is trading above $172 against the US Dollar. Bitcoin price is up more than 4% and it broke the key $8,200 resistance area. There was a break above a key bearish trend line with resistance near $172 on the hourly chart of ETH/USD (data feed via Kraken).
Ethereum price extended its decline and broke the $175 support area against the US Dollar. Bitcoin price is also down more than 3% and it broke the $8,000 support area. Yesterday’s highlighted key bearish trend line is intact with resistance near $175 on the hourly chart of ETH/USD (data feed via Kraken).
Ethereum price climbed above the key $185 resistance area against the US Dollar. Bitcoin price is still struggling to recover and is facing a strong resistance near $8,400. There was a break above a major bearish trend line with resistance near $183 on the hourly chart of ETH/USD (data feed via Kraken).
Ethereum price is currently consolidating losses above the key $175 support area against the US Dollar. Bitcoin price is struggling to hold the key $8,250 and $8,200 support levels. There is a key bearish trend line forming with resistance near $184 on the hourly chart of ETH/USD (data feed via Kraken).
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).
It never hurts to know more. The Bitcoin and Ethereum derivatives exchange, Deribit, has announced the launch of a publication called “Deribit Insights. ” The new weekly report reviews crypto-related events, analyses market developments, and explores future advancements of the industry.
ETH price is still struggling to break the key $185 resistance area against the US Dollar. The price is currently correcting lower and it might find support near $178 or $175. There is a connecting bullish trend line forming with support near $178 on the hourly chart of ETH/USD (data feed via Kraken).
ETH price is climbing higher and it recently broke the $175 and $180 resistances against the US Dollar. The price is currently trading near a crucial resistance area at $185 and $186. There was a break above a key bearish trend line with resistance near $175 on the hourly chart of ETH/USD (data feed via.
ETH price started trading in a range after it failed to surpass the $185 resistance against the US Dollar. The price is currently trading below the key $180 and $185 resistance levels. There is a key contracting triangle forming with resistance near $180 on the 4-hours chart of ETH/USD (data feed via Kraken).
ETH price is currently under pressure and is trading below the $175 level against the US Dollar. The price is trading above the $170 support area, but it is struggling to climb higher. There is a major contracting triangle forming with support near $170 on the hourly chart of ETH/USD (data feed via Kraken).
ETH price is showing positive signs above the $172 and $170 support levels against the US Dollar. The price is currently trading near $180 and it might soon retest the $185 resistance area. Yesterday’s highlighted key bullish trend line is active with support near $172 on the hourly chart of ETH/USD (data feed via Kraken).
Recommended pre-reading: https://ethresear. ch/t/minimal-anti-collusion-infrastructure/5413
Alice slowly walks down the old, dusty stairs of the building into the basement. She thinks wistfully of the old days, when quadratic-voting in the World Collective Market was a much simpler process of linking her public key to a twitter account and opening up metamask to start firing off votes.
ETH price started an upside correction above the $172 and $175 resistances against the US Dollar. The price even broke the $180 level and it is currently testing the key $185 resistance area. There was a break above a declining channel with resistance near $171 on the hourly chart of ETH/USD (data feed via Kraken).
After losing its foothold within the lower-$170 region, Ethereum’s recently incurred upwards momentum appears to have faltered, as ETH has now dropped below the $170 level as Bitcoin revisits its key near-term support level at $8,000.
By Dmitriy Gurkovskiy, Chief Analyst at RoboForex On Friday, September 27th, ETH remains under pressure, trading at $165. 51. On D1, the Ethereum price is developing a new impulse of decline upon completing a pullback.
ETH price corrected higher from the $152 low and traded above $165 against the US Dollar. The price is currently struggling to break the $172 and $175 resistance levels. Yesterday’s highlighted key bearish trend line is still active with resistance near $172 on the hourly chart of ETH/USD (data feed via Kraken).
ETH price is currently correcting lower and it recently broke the $212 support against the US Dollar. The price is facing a lot of hurdles on the upside near the $212 and $215 levels. There is a key bearish trend line forming with resistance near $214 on the hourly chart of ETH/USD (data feed via.
Ethereum’s massive upwards momentum has faltered after its bulls were unable to decisively support ETH above the $220 price level, and its inability to extend its upwards momentum likely stems in part from Bitcoin’s drop to its key support level of $10,000.
September has been surprisingly exciting for altcoins as many witnessed significant price movement and key resistances were breached in the process. Ethereum is noted to be the top-performing alt at the moment; Litecoin also joined the bandwagon of demonstrating positive growth.
The ethereum network has never been more in demand with one key metric, daily gas usage, now standing at an all time high of nearly 52 billion gas units (pictured...
The post Ethereum Gas Usage Reaches All Time High appeared first on Trustnodes.
US-based blockchain firm Hedera Hashgraph launched its mainnet on Monday. Despite being supported by some large companies, skeptics say its blockchain version lacks key features that ensure decentralization.
The latest cryptocurrency market swing prompted two prominent coins to breach significant resistance levels. As the cryptocurrencies extended gains above key levels, Ethereum surged over its $200-level and XRP also broke the $0.
ETH price stayed above the key $175 support and recovered recently against the US Dollar. Bitcoin price is trading nicely and it recently broke the key $10,250 resistance area. This week’s followed major bearish trend line was breached with resistance near $178 on the hourly chart of ETH/USD (data feed via Kraken).
ETH price is slowly moving down and recently broke the $180 support area against the US Dollar. The price could soon test the $172 or $170 level before it starts a fresh increase. Yesterday’s highlighted key bearish trend line is still active with resistance near $179 on the hourly chart of ETH/USD (data feed via.
ETH price is showing positive signs above the $180 pivot level against the US Dollar. The price is likely to continue higher above the $184 and $185 resistance levels in the near term. There is a key bullish trend line forming with support at $178 on the hourly chart of ETH/USD (data feed via Kraken).
ETH price climbed higher recently and settled above the $175 resistance area against the US Dollar. The price is currently consolidating gains and it might continue to rise towards $185 or $190. There is a key breakout pattern forming with support near $180 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.
