Has Ethereum (ETH) Reached a Top or Is There More to Come?

2020-9-9 20:45

Despite the sharp drop during the week of August 31 – September 6, the Ethereum (ETH) price has maintained its bullish structure.

However, a reversal has to occur soon for long-term indicators not to turn bearish.

Long-Term Support Is Still Intact

On September 1, the Ethereum price reached a high of $489.57 but dropped sharply the next day. At the time of writing, it was trading at $336.

However, the bullish structure that initiated the upward move is still intact. The price has yet to reach the ascending support line created by connecting the two higher lows since the March bottom, let alone break it.

While technical indicators do not suggest that a reversal is near, they have recorded the most oversold levels since the March crash. In addition, the stochastic RSI has made a bullish cross.

ETH Chart By TradingView

The weekly chart shows that the price is approaching the long-term $320 support area, which has previously acted as resistance. As long as the price is trading above this level, the recent decline can be considered a re-test of the previous resistance area as support.

However, technical indicators show a loss of strength. Furthermore, the recent decline was preceded by considerable bearish divergence on the weekly RSI.

Unless the price initiates a reversal near the current support level, long-term indicators are likely to give bearish reversal signals.

ETH Chart By TradingView

Cryptocurrency trader @CryptoMichNL outlined an Ethereum chart, stating that the price is likely to consolidate for some time before eventually moving upwards. As long as the price is trading above the long-term $320 area, this seems the most likely scenario.

Source: Twitter Ethereum Wave Count

Beginning on March 13, we can outline a bullish impulsive five-wave move for Ethereum (in white below). The most likely wave count is that the price has completed the fourth sub-wave (in blue below), with one more upward move to follow.

In the count, both the third and fifth waves have extended. Since the fifth wave is the longest out of the three bullish waves, it would make sense for the fifth sub-wave also to be the longest, taking the price near $550.

ETH Chart By TradingView

The main reason for discounting the possibility that the bullish formation has ended is the price action that led to the $485 high. Due to frequent overlap and a lack of distinctive five waves, the move looks much more like an A-B-C, or complex correction.

Since it’s not possible to end an impulsive move with a correction in the same direction, the other option is that the price is still correcting as a part of sub-wave 4.

ETH Chart By TradingView

To conclude, the Ethereum price should find support near the long-term $320 support level and eventually begin another upward move.

The post Has Ethereum (ETH) Reached a Top or Is There More to Come? appeared first on BeInCrypto.

origin »

Bitcoin price in Telegram @btc_price_every_hour

Ethereum (ETH) на Currencies.ru

$ 2273.63 (+0.38%)
Объем 24H $13.81b
Изменеия 24h: 0.06 %, 7d: -1.21 %
Cегодня L: $2263.6 - H: $2310.12
Капитализация $274.401b Rank 2
Цена в час новости $ 338.17 (572.33%)

ethereum eth reversal however structure bullish maintained

Источник: beincrypto.com

ethereum eth → Результатов: 126


Ethereum (ETH) in 2026: 5 Reasons It Could Outperform Bitcoin

The Ethereum price is up about 4.5% in the past day, trading around $2,409 and doing a bit better than the rest of the market.  This move is coming from real demand. Big players are locking up Ethereum (ETH) instead of selling it, like the recent $142 million staking move from BitMine, which tightens supply […] The post Ethereum (ETH) in 2026: 5 Reasons It Could Outperform Bitcoin appeared first on CaptainAltcoin.

2026-4-23 23:00


Фото:

Ethereum Price Prediction Targets $10,000 as ETH/BTC Ratio Breaks Higher: Whales Already Building Positions in Pepeto

The Ethereum price prediction got its strongest signal of the year on April 15. The ETH/BTC ratio climbed to 0.0313, a three-month high, per CoinDesk. Network data matched the move: quarterly new users rose 82%, stablecoin supply on Ethereum hit a record $180 billion, and Fundstrat’s Tom Lee now targets $10,000 for ETH by year-end […] The post Ethereum Price Prediction Targets $10,000 as ETH/BTC Ratio Breaks Higher: Whales Already Building Positions in Pepeto appeared first on CaptainAltcoin.

2026-4-18 10:30


ETH/BTC достиг максимума за три месяца на фоне роста активности в сети Ethereum

В среду соотношение ETH/BTC, показатель относительной силы Ethereum по отношению к биткоину, выросло до 0,0313, достигнув самого высокого уровня с января. За последние семь дней Ethereum прибавил 4%, в то время как биткоин за тот же период подорожал на 3,9%, по данным TradingView.

2026-4-18 14:58


BitMine Expands Ethereum Treasury With Over 51,000 ETH Purchase

Bitmine Immersion Technologies has significantly expanded its Ethereum treasury, acquiring an additional 51,162 ETH over the past week as part of an aggressive accumulation strategy. The latest purchases bring the company’s total Ethereum holdings to 4,422,659 ETH as of February 22–23, 2026, reinforcing its position as one of the largest institutional holders of Ethereum. According [...]

2026-2-24 20:15


What BlackRock’s Latest Filing Means For The Ethereum Price

The latest S-1 registration submitted to the US Securities and Exchange Commission has placed Ethereum back at the center of market speculation. A recent SEC document shows that BlackRock’s iShares division has formally filed to launch a staked ETH exchange-traded fund, a move that would give traditional investors access not only to ETH price exposure […]

2025-12-10 04:00


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru