Ethereum Remains Strong So Long as It Defends One Critical Level

Ethereum Remains Strong So Long as It Defends One Critical Level
фото показано с : bitcoinist.com

2020-10-15 23:00

Ethereum and the entire cryptocurrency market are currently caught within a consolidation phase This has come about due to Bitcoin’s tight bout of trading between $11,400 and $11,600 ETH is trading above a critical level that it was previously struggling to surmount This is a bullish sign that indicates it may be well-positioned for a strong move higher in the near-term That being said, one analyst believes that ETH’s price could drift significantly lower while still maintaining its bullish market structure He believes $360 is a critical level

Bitcoin has been leading Ethereum and the rest of the crypto market to see a prolonged bout of sideways trading. This has done little to offer investors with insight into where the market may trend in the near-term.

ETH is still trading above $380, however, which is an incredibly bullish sign that indicates it may be well-poised to push higher.

This level has long been pivotal for the crypto, and the recent flip of it into support is a promising sign.

One analyst, however, is noting that $360 is the key macro support that must be defended, as a break below this would derail its current technical strength.

Ethereum Defends Crucial Support Level as Consolidation Persists 

At the time of writing, Ethereum is trading up marginally at its current price of $382. This marks a notable decline from recent highs of nearly $400 that were set just a few days ago.

It is important to keep in mind that Ethereum has been closely tracking Bitcoin’s every move, which means that where it trends next may depend almost entirely on whether or not BTC pushes higher or reels lower.

For ETH to start a full-fledged uptrend, it is imperative to break above $400, as this is the next key resistance to watch closely.

Analyst Claims $360 is Crucial Support for ETH 

While sharing his thoughts on Ethereum’s recent price action, one analyst observed that Ethereum’s market structure remains incredibly strong so long as it continues trading above $360.

“ETH / USD: Still finding it hard not to be bullish… Price would have to break below $360 for any real shift in momentum to the downside, healthy looking PA.”

Image Courtesy of Cactus. Chart via TradingView.

Unless Bitcoin breaks below the support it has in the lower-$11,000 region, it does seem as though Ethereum is well-positioned to see significantly further near-term upside.

Featured image from Unsplash. Charts from TradingView.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Miner One token (MIO) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MIO

ethereum trading level critical eth one previously

Источник: bitcoinist.com

ethereum trading → Результатов: 126


Фото:

Ethereum is Coiling Up for a Big Move; Why Analysts Expect Downside

Ethereum, much like Bitcoin, has been caught within the throes of an intense bout of sideways trading This has caused the cryptocurrency to largely hover around the lower boundary of its multi-month trading range, being unable to gain any clear and decisive trend in either direction Although many major digital assets have been able to kick off firm uptrends, ETH hasn’t been so lucky Analysts are now noting that Ethereum may be well-positioned to see […]

2020-7-20 22:00


Ethereum Price Analysis ETH / USD: Aiming High

Ethereum is trading in its narrowest seven-day trading range since April this year Technical analysis suggests a move towards the $200.00 level is increasingly likely Sizeable bullish falling wedge pattern seen on the four-hour time frame Ethereum is poised for a major technical breakout, as the second largest cryptocurrency trades in its narrowest seven-day trading […] The post Ethereum Price Analysis ETH / USD: Aiming High appeared first on Crypto Briefing.

2019-9-6 16:05


Market Action Report: Bitcoin, Ethereum, Ripple, Stellar & Litecoin Waver as BAT & ETC Rise on Coinbase Hype

Cryptocurrency values have taken a bearish turn this week as negative market sentiment suppresses a minor late-July rally, with most major alts taking a hit as confidence in Bitcoin wavers. Positive news from crypto trading giant Coinbase, however, has provided both Ethereum Classic and Basic Attention Token with immunity from bearish market action.

2018-8-7 07:12


Peru Shows Signs of “Accelerated Growth” in Crypto Trading

Latin America has turned out to be one of the most promising markets for cryptocurrencies around the world, with a dizzying growth in recent years. According to data from various sources, although other countries have a higher user base, the growth rate of some South American countries far exceeds that of other nations in the […] The post Peru Shows Signs of “Accelerated Growth” in Crypto Trading appeared first on Ethereum World News.

2018-8-5 09:04


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ethereum Bulls Charge Ahead: $4K Within Grasp

Ethereum price is moving higher above the $3,600 zone. ETH is showing bullish signs and might soon aim for a move above the $3,800 resistance zone. Ethereum started a decent increase from the $3,550 zone.

Ethereum’s “Secondary Bull Run” Is Here, Quant Explains Why

A quant has explained how Ethereum is now in its secondary bull run phase according to the trend in this popular on-chain indicator. Ethereum MVRV Ratio Is Forming A Pattern Similar To Past Two Cycles In a CryptoQuant Quicktake post, an analyst talked about the latest trend in the Market Value to Realized Value (MVRV) […]