Ethereum investors have gained little insight into the cryptocurrency’s trend over the past few weeks
Despite being stuck within a wide trading range, it is important to note that ETH has been hovering just above the lower boundary of this range over the past few days
This has marked an underperformance of Bitcoin and many of its other peers, but an overnight dip below this level was quickly absorbed by buyers
Analysts are still forecasting further near-term downside, but it may first rally to its local highs before entering what could be a far-reaching downtrend
Ethereum and the aggregated crypto market are currently coiling up to make a big move. It is a strong possibility that the direction this movement sends altcoins like ETH will be largely dependent on Bitcoin.
That being said, their current performance against their BTC trading pairs could offer insight into whether or not they will outperform or underperform the benchmark digital asset during the next trend.
In the case of Ethereum, analysts are generally putting forth bearish predictions when it comes to where it may go next.
One trader recently explained that he expects it to rally up towards the upper boundary of its current trading range before posting a harsh rejection here.
This could, in turn, lead it to reel significantly lower.
Ethereum Flashes Signs of Weakness as It Hovers Above Crucial Support Level
At the time of writing, Ethereum is trading down marginally at its current price of $231.
The crypto has been caught within an intense consolidation phase over the past few weeks, but unlike Bitcoin, it has not been able to gain a solid foothold within the middle of its trading range.
As reported by Bitcoinist yesterday, one analyst explained that ETH is forming what appears to be an “ominous” top formation.
He noted that the decline likely to ensue will be short-lived, providing traders with good long opportunities.
“ETH ZOOMED out 3D that top is ominous. Maybe a short term bounce coming but downside seems so favorable. Really believe better entries are coming for some damn good longs for 2.0 and what will be locked up,” he said.
Image Courtesy of Pentoshi. Charts via TradingView
Trader: ETH May Push to Range Highs Before Facing Harsh Rejection
Another trader offered a slightly different roadmap for what he anticipated to come next.
The popular pseudonymous analyst explained that he believes Ethereum will push up to its local highs of roughly $257 in the near-term before finding meaningful resistance that sparks a bear trend.
He does claim that a break above this level would lead him to flip long.
“ETH Plan(s). 1. Sweep highs and tag $257 with a failure = swing short. 2. Break trendline = swing short. 3. Break the high = net long exposure.”
The same trader also explained that ETH’s Renko chart – as seen below – seems to confirm it is about to see further weakness.
Image Courtesy of Cold Blooded Shiller. Chart via TradingView
Featured image from Shutterstock.
Charts from TradingView. origin »
Bitcoin’s unrelenting trading range has offered investors few insights into its near-term trend This range has persisted since the start of May, and isn’t showing no signs of letting up anytime soon Overnight sellers did attempt to shatter the lower boundary of this trading range, although this was quickly reversed by ardent buyers who have since pushed it back to $9,400 It now appears that this consolidation trend could extend even further The resolution to […]
Bitcoin’s well-established consolidation trend is showing no signs of ending anytime soon, as the crypto is still hovering within the mid-$9,000 region Each attempt to break above or below the upper and lower boundaries of its current trading range have been unsuccessful There is, however, one fractal pattern that bodes well for the crypto’s bulls One analyst is pointing to similarities between previous silver price action and Bitcoin for insights into where the benchmark digital […]
After rallying just over 150% from March’s capitulation lows, the Bitcoin bull trend has tapered off over recent weeks. Instead of a clear uptrend, the cryptocurrency has found itself caught in a tight range with deviations from said range failing.
Since a rapid decline on June 2, when BTC fell by almost 10%, the price has been trading in a range between $9,450 and $10,100. Whether the price breaks out or down from this area will be a major factor in determining the direction of the future longer-term trend.
On June 10, the Bitcoin price moved in a range between $9,570-$9,870. Even though the price broke out from a short-term resistance line, this movement will likely have no ramifications for the longer-term trend.
• Litecoin makes a comeback but faces rejection at $47 resistance.• The crypto slips beneath 50-EMA as bears took to gain market momentum within the range. LTC/USD Medium-term Trend: Ranging Key levels• Resistance levels : $70, $80, $90• Support levels: $20, $10, $9Litecoin remains in a range-bound market in its medium-term outlook. The bulls manage […]
DASH/USD Medium-term Trend: Ranging • The Medium-term and the short-term outlook continues in a range-bound market.• The bears remained in control of the market within the range Key levels • Resistance levels : $140, $150, $160• Support levels: $35, $25, $15 DASHUSD remains in a range-bound market in its medium-term outlook. The bears retain the […]
Key Highlights • XRP/USD market still prolongs trading in a range-bound territory. • A breakaway, from a range trading mark at $0. 22, will set in a new price trend for XRP/USD market. • A downward move, will in near time, signal a good buying condition of the XRP/USD trade.
On April 22, the Bitcoin (BTC) price increased considerably from a low of $6818 to a high of $7158. This created a bullish engulfing candlestick. However, the price failed to move above an important resistance level that would otherwise indicate that the current trend is bullish.
• LTCUSD continues in a sideways market range. • The bulls remain in control within the range. . LTC/USD Medium-term Trend: Ranging Litecoin is in a range-bound market in its medium-term outlook.
Bitcoin has stabilized above $6,800 after its recent dip below $7,000 It has now entered what appears to be a historic trading range that has been developed over many years Analysts are noting that the crypto is now sending mixed signals with regards to where it might trend next In the time following Bitcoin’s intense decline below $7,000 yesterday, the benchmark cryptocurrency has since been able to stabilize above its near-term support at $6,800. It […]
Beginning on March 20, the Bitcoin price spent 15 days trading in a range between $5,700-$6,900. After breaking out above this range, the price continued to increase, eventually reaching a high of $7,454.
Bitcoin price could likely fall to the $3,000 level as its short term trend is forming an Elliot Wave as prices remain stuck within the $6,800 range. Analysis of the trading patterns indicates that there is a likelihood of the digital asset turning bullish but these hopes are quite slim due to the low daily […]
Bitcoin is struggling to gain momentum above $5,500 resistance against the US Dollar. If BTC price breaks the $5,000 support, it could start a major decline in the near term. Bitcoin is currently trading in a range between $5,000 and $5,500 against the US Dollar.
• Price now trades in a range near resistance level. • The crypto is in a strong up move. ETH/USD Medium-term Trend: Bullish • Resistance levels : $290, $300, $310 • Support levels: $110, $100, $80 Ethereum is forming an ascending triangle and looks bullish in its medium-term.
• Price now trades in the range above the resistance level. • The crypto is in a strong up move. Buyers are in control of the market trading in the upper resistance level. ETH/USD Medium-term Trend: Bullish • Resistance levels : $280, $300, $320 • Support levels: $110, $100, $80 The coin continues in a […]
It is a great time to speculate prices in the digital asset industry with the apparent presence of bulls in the market.
January 2020 catalyzed the dormant markets, and the curiosity of various analThe post Ethereum may mirror past trend on its way to $200-335 range appeared first on AMBCrypto.
Coinspeaker Scalability, Hard Fork, General Crypto Bias Lay Constraint on EtherEther, the second-largest cryptocurrency, extended its range for the new year to turn lower for the first part of the day, bypassing the upward trend set by most other major digital assets.
Ethereum is currently trading in a range below the $130 and $132 resistances against the US Dollar. The price is likely to bounce back as long as it is trading above the $120 support. There is a major bearish trend line forming with resistance near $132 on the hourly chart of ETH/USD (data feed via... The post appeared first on NewsBTC.
Bitcoin (BTC) is once again stuck in a range, moving for weeks between support and resistance levels around $7,000 to $7,500. Now, new analysis pegs a support of $7,800 as a sign of a new bullish trend.
Bitcoin’s price has been stuck within a firm and unwavering trading range within the lower-$7,000 region over the past week, with each attempt to rally being quickly rejected by aggressive selling pressure that has led BTC to remain stuck around its current price levels.
Price predictions using technical analysis can produce a wide range of results for a crypto asset. One analyst has predicted an Ethereum capitulation into double digits if the current trend continues.
Ethereum is struggling to clear the key $152 resistance area against the US Dollar. The price is declining and it is now trading near the $146 support area. Yesterday’s major bullish trend line was breached with support near $148 on the hourly chart of ETH/USD (data feed via Kraken).
Bitcoin cash price is facing a strong resistance near the $216 and $218 levels against the US Dollar. The price is currently consolidating in a range above the $210 support area. There is a major bearish trend line forming with resistance near $215 on the hourly chart of the BCH/USD pair (data feed from Kraken).
Traders have started to lean towards a bullish short term trend for Bitcoin following what has been a relatively stable week for BTC after a big drop in October. Major cryptocurrencies in the likes of Ethereum, Binance Coin, and TRON have recorded minor gains against both Bitcoin and the U.
Ethereum price failed to continue above $190 and declined below $188 against the US Dollar. The price is currently correcting higher, but it is likely to face resistance near $187-$188. There is a connecting bearish trend line forming with resistance near $187 on the hourly chart of ETH/USD (data feed via Kraken).
Based on historical patterns, Bitcoin’s price could go through a narrow price range, soon before the block reward halving. BTC remains unpredictable, yet past analysis shows a certain trend.
Another week, another round of Crypto Tidbits. Again, Bitcoin (BTC) saw a relatively meek week in terms of price action, or lack thereof; the leading cryptocurrency fell by 5% over the course of the week, but still seems to be stuck in a tight range as a trend fails to be established.
Bitcoin price is struggling to climb higher above the $9,300 and $9,400 resistances against the US Dollar. The price is trading in a range above the key $9,000 and $8. 960 support levels. There was a break below a connecting bullish trend line with support near $9,240 on the hourly chart of the BTC/USD pair (data.
Ethereum price declined recently and traded below the $180 support area against the US Dollar. Bitcoin is under pressure and it seems to be struggling to stay above the $9,000 support. There is a new connecting bearish trend line forming with resistance near $183 on the hourly chart of ETH/USD (data feed via Kraken).
After facing extreme volatility over the past several days and weeks, Bitcoin (BTC) has found itself caught within a relatively tight trading range within the mid-$9,000 region, and where it goes from here could determine which direction it trends in the mid-term.
Bitcoin (BTC) has been trading within a tight trading range around $8,000 for the past week and has failed to incur any significant momentum in either direction that illuminates its near-term trend.
After reaching new depths below the 8k level near the end of September, market valuations in BTC/USD have been largely trendless. Over the last month, bitcoin has been caught in a narrowing price range that has made it difficult for quantitative traders to plot the next trend direction for the crypto pair.
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).
Over the past few days, Bitcoin (BTC) has started to settle in a price range, the low-$8,000s. For now, the cryptocurrency seems directionless, stuck between resistances and supports above and below its current price.
Bitcoin price has been consolidating in a tightening range for the better part of the last three months, and the crypto community has been watching and waiting for the first-ever crypto asset to make its next move and choose the trend for the coming year ahead.
By CCN Markets: According to technical analysts and cryptocurrency traders, the bitcoin price is at a critical juncture following its indecisive weekly close and is waiting for confirmation for either a full short term trend breakdown or reversal for BTC.
Bears are rejoicing now that Bitcoin price is back below $10,000 and at risk of falling further to retest former lows as support. But while recent Bitcoin price action may suggest that bears have resumed control over the short-term trend, bulls haven’t given up the fight.
On the upside, if the bulls break the 12-day EMA and the 26-day EMA, the crypto's price will rise and retest the $0. 01100 overhead resistance. On the other hand, if the bulls fail to break the EMAs, the coin will continue its range bound move below the EMAs.
Most of the range market moves of the OMG/USD have featured under the sell signal line of the SMA trading indicator. Traders are enjoined to exercise some degree of caution while placing an order. OMG/USD Medium-term Trend: Ranging Distribution territories: $1.
• The short and medium-term outlook is in a range-bound market. • Patience is required trading the consolidation. ZIL/USD Medium-term Trend: Ranging Supply zone: $0. 02500, $0. 02600, $0. 027000 Demand zone: $0.
MKR/USD market now chops around $700, $650, and $600 price territories. The MKR/USD bulls have been building a foundation, but it hasn’t had enough strength. MKR/USD Medium-term Trend: Ranging Distribution territories: $750, $800, $850 Accumulation territories: $500, $450, $400 MKR/USD market has on a small note run into upper range trading zones as compared with […]
XZC/USD Medium-term Trend: Ranging Resistance Levels: $12. 0, $13. 0 $14. 0 Support levels: $8. 0, $7. , $6. 0 Yesterday, July 24, the price of Zcoin was in a range bound move below the 12-day EMA and the 26-day EMA.
On the downside, if the price continues its fall, the market will revisit the previous lows of $90 or $100 price level. On the other hand, the Coin will continue its range bound move below the EMAs, if the bulls fail to break above the EMAs.
Meanwhile, the Dogecoin had been fluctuating between the levels of$0. 002500 and $0. 003500 in the last three months. The DOGE price is in a bullish momentum and a buy signal. DOGE/USD Medium-term Trend: Ranging Resistance Levels: $0.
The Coin is also in its previous range between the levels of $0. 28 and $ 0. 34. On the upside, if the bulls break above the 12-day EMA and the 26-day EMA, the coin will face resistance at the $0. 34 price level.
ONT/USD market is now inactively hovering in the $1 median and l$0. 90 ower range points. The ONT/USD bulls have been trying to make good swings from a baseline at the $0. 90 lower range mark. ONT/USD Medium-term Trend: Ranging Supply levels: $1.
The price will continue its range bound move below the EMAs , if the bulls fail to break above the EMAs. Meanwhile, the BAT /USD pair is still in a range-bound move between the levels of $0. 30 and $0.
Ethereum has experienced a massive price surge, jumping from the $2,200 level to $2,500 in just a few hours. This comes after a period of extreme selling pressure that saw ETH drop as low as $2,080 on Friday, leading analysts to expect further declines.
Ethereum is trading below the $2,300 mark after failing to hold key demand levels last week. The price has faced intense selling pressure, fueling concerns among investors that ETH may not see a strong bull market ahead.
In line with major losses across the crypto market, Ethereum (ETH) declined by 17. 08% in the past week reaching as low as $2,104. While the prominent altcoin has shown some minor gains in the past 12 hours, the general market sentiment remains bearish.
Ethereum has experienced a massive drop, losing over 27% of its value in less than five days as the market faces extreme fear and uncertainty. The rapid sell-off has fueled speculation that a bear market could be on the horizon, with many analysts calling for further downside in the coming months.
Amid the market retrace, Ethereum (ETH) has lost its key $2,600 support zone and fallen below the next crucial level. As the second-largest cryptocurrency by market capitalization attempts to hold its current range, some analysts predict a 6% drop could be coming.
Ethereum has been struggling below the $2,800 mark for weeks, unable to reclaim it as support and spark a recovery rally. This critical resistance level has kept bulls at bay, leaving the price action stagnant and fueling negative sentiment in the market.
Ethereum price action amid the broader crypto market bearish sentiment over recent weeks hasn’t been any different from the performance recorded in the past months. Over this period, Ethereum’s price has struggled to gain significant upward momentum, remaining in a prolonged consolidation phase.
