After a prolonged period of range-bound trading, Ethereum posted a breakout rally yesterday that allowed it to surge up to fresh multi-month highs
This rally put a firm end to the crypto’s macro trading range between $230 and $250
It remains unclear as to what caused this movement, but it allowed Bitcoin and other major altcoins to push higher as well
Analysts are now growing cautious of what could come next for ETH
Despite its strength, the high time frame resistance it is currently tapping could send it reeling lower
Ethereum saw a sudden jolt higher yesterday afternoon that allowed it to post some notable gains.
Although the cryptocurrency has been trading sideways within a macro trading range for the past several weeks and months, this movement put a firm end to this consolidation phase.
It now remains somewhat unclear as to what ETH’s future outlook could be. Despite the overt strength of this move, the crypto still appears to be correlated to Bitcoin.
As such, whether or not BTC is able to push higher could determine its future.
One analyst is now flipping short on Ethereum, noting that it is pushing up against a macro resistance level that it is unlikely to surmount anytime soon.
Ethereum Stable Above $260 Following Yesterday’s Explosive Rally
Out of nowhere yesterday, Ethereum’s price saw a sudden surge that allowed it to climb from the lower-$240 region to highs of $270.
Shortly after this movement took place, Bitcoin also rallied higher, tapping $9,550 before meeting heavy selling pressure that slowed its ascent.
Both Bitcoin and Ethereum are now consolidating just a hair beneath their recent highs.
Bulls may also have greater control over the assets following this movement, as it caused a massive amount of sell-side liquidations to take place.
According to data from Coinalyze, Ethereum just saw the largest amount of short position liquidations in over three months, totaling at roughly $75 million.
“ETH massive shorts liquidations! Biggest liquidations over the last 3 months.”
Image Courtesy of Coinalyze.
Why Analysts Are Short on ETH
Despite the overt strength Ethereum is currently flashing, analysts are flipping short.
One popular crypto trader spoke about the digital asset in a recent tweet, offering a chart showing that it is currently pushing into a high time frame resistance zone.
“ETH: Should’ve played the range again like I did the first two times instead of getting fancy. In all honestly, probably time to play the range again, if it ain’t broke…”
Image Courtesy of DonAlt. Chart via TradingView.
How it trends next may depend somewhat on Bitcoin. If BTC can surmount its resistance in the $9,500 region, it may create a tailwind that boosts Ethereum past its high time frame resistance.
Featured image from Shutterstock.
Charts and pricing data via TradingView. origin »
Bitcoin and the aggregated crypto market are currently stabilizing following the turbulence seen yesterday. This volatility allowed Bitcoin to break out of its tight trading range and secure a position above its previous range highs of $9,300.
Bitcoin has stabilized following yesterday’s slight volatility, which allowed it to climb as high as $9,450 before hitting some notable resistance Bitcoin has now broken out of the tight trading range that it was previously caught within Analysts do believe that it is laying the groundwork to make a notable upside movement in the days ahead According to one well-respected options trader, this movement could send it as high as $11,500 due to the strength […]
The aggregated cryptocurrency market is beginning to flash some signs of strength after an extended period of sideways trading Altcoins have been leading the market higher, as Bitcoin has remained stagnant within its long-held trading range This upwards momentum has even allowed XRP to rally, with this marking the first notable surge it has seen since April Analysts are noting that it could continue climbing higher in the near-term before hitting a crucial resistance level […]
Bitcoin saw a sharp and unexpected rally past $10,000 yesterday that caught sellers off guard This movement allowed the benchmark crypto to rally to highs of $10,400 before it lost its momentum and declined back to the lower five-figure price region The cryptocurrency now appears to be trading at a pivotal point, and analysts are noting that it could still see further downside in the days and weeks ahead There is one level that, if […]
Bitcoin saw a sharp overnight rebound that allowed it to reclaim its position within the mid-$9,000 region This came about after a period of weakness as it traded within the lower $9,000 region It now appears that the crypto’s recent volatility has allowed it to form an incredibly bullish technical formation If it posts a breakout of this formation, the crypto could soon be trading at fresh yearly highs of around $12,000 Bitcoin and the […]
Ethereum has been able to maintain above $200 despite the recent turbulence seen within the aggregated crypto market This outperformance of Bitcoin has allowed it to gain some strength on its embattled BTC trading pair ETH is still in a precarious position, however, as analysts are noting that its macro bear structure still remains strong Analysts are also widely flipping short on ETH, with some anticipating massive downside Ethereum’s price action has been largely lackluster […]
Bitcoin has posted a notable upswing today that has allowed it to approach its next key resistance level at $9,500 The cryptocurrency’s intense uptrend is showing no signs of slowing down as it continues gaining dominance over the entire market Some analysts are now noting that altcoins could be positioned to see some serious losses in the weeks ahead as they all decline against their BTC trading pairs The aggregated cryptocurrency market has continued declining […]
Bitcoin saw a notable upswing today that allowed it to firmly surmount the heavy resistance it was previously facing at $9,200. Today’s price action has marked the first sustained period of trading within the $9,000 region that the cryptocurrency has seen since late-February.
Bitcoin has seen some notable upwards momentum today that has allowed the benchmark cryptocurrency to surmount the heavy resistance that it was previously facing at $9,200. Today’s upwards breakout marks a bullish resolution to the extended bout of sideways trading that the crypto was previously facing while it hovered around $8,800 for the past several...
Bitcoin’s overnight upswing allowed the crypto to gain what appears to be a firm foothold within the $8,000 region This movement came about shortly after the extended period of sideways trading that it faced throughout the past several days It also liquidated millions of dollars in short-positions, leading BTC’s open interest to dive as bears go into hiding Bitcoin’s notable overnight rally has marked a major extension of the uptrend that was first sparked when […]
Bitcoin’s recent rally has sparked a massive influx of activity from large retail and institutional futures traders This heightened trading activity comes as the crypto reaches a “make or break” price level that could determine how it trends in the weeks and months ahead Bitcoin incurred a notable uptrend yesterday morning that allowed it to climb from lows of $7,100 to highs of $7,800 before it met some resistance and declined back down to its […]
The aggregated cryptocurrency market has firmly entered a bout of sideways trading over the past couple of days, which has come about in the time following the market’s recent upswing seen earlier this week that allowed XRP and other altcoins to gain some decent momentum.
Bitcoin saw some intense upwards momentum today that allowed it to rally into the $6,000 region, with this upswing coming about after an extended period of sideways trading around $5,000. This movement came independent of the U.
The Supreme Court of India on 4 March announced its Judgment in the 'Crypto v. RBI'case. The apex court has deemed the banking ban levied by the central bank of India as unconstitutional. Crypto KanoThe post India: Cryptocurrency trading using banks allowed as SC holds RBI circular 'unconstitutional' appeared first on AMBCrypto.
Bitcoin has been incurring some decent upwards momentum in the time since it visited $6,500, which has allowed major altcoins like XRP to similarly put some distance between their current prices and their recent lows.
BitMex leaderboards allowed traders to use a three-word pseudonym to protect their identity while being able to boast their trading profits. In 2019, two of the top 10 were revealed to be one single institution: Alameda Research.
Recent reports have surfaced about an anomaly within the Robinhood trading application that has let users make crazy money. Cryptocurrency market critics often complain about the lack of security and worry about the users potentially cheating the system.
Binance CEO Changpeng Zhao has clarified that rumors circulating about the “legalization” of crypto exchanges is simply misleading. Not a crypto exchange license but a generic business registration On Oct.
We defined our development strategy based on empirically acquired knowledge and on the analysis of the work of existing platforms. We spent a lot of time, effort and money developing the statizex platform, faced many challenges and solved many technological issues during its creation, this allowed us to develop a trading platform that fully meets the modern market requirements and high modern technological standards of speed and safety.
The Diamond Open Market,an EOS-based platform to buy and sell natural and lab-grown diamonds, heirloom or other jewelery, is opening the formerly closed diamond market for everybody.
DOM will present a marketplace and a trading platform for businesses and individuals working as a reliable tool for B2B, B2C or P2P relations.
Poloniex has finally delisted CLAM from its exchange. The obscure altcoin was responsible for a flash crash in May which allowed for 1,800 BTC ($20M) to be wiped from the entire margin trading lending pool.
Over-the-counter desks are now allowed by the cryptocurrency settlement solution provider in a bid to evade the responsibility of cryptocurrency custody and also to minimize counterparty risk. An Israel startup known as Tango, offers non-custodial clearing services piloted trading options with OTC firm GSR Markets. In this case, the OTC desk was not given the […]
Binance, the largest cryptocurrency exchange by volume, has finally listed its trading app on Apple store again. This happened months after the app was taken off the service. The CEO of the exchange, Changpeng Zhao, commented about the victory on Twitter.
Bitcoin (BTC) has been incurring a significant amount of upwards momentum as of late that allowed it to put an end to the month-long bout of selling pressure it has faced over the past month, which has also allowed it gain significant dominance over the aggregated crypto market capitalization.
Tether and Bitfinex have consistently been the hot-topic of 2019. From unravelings in the NYAG lawsuit to developments that impact the far ends of the crypto ecosystem. Tether’s integration with Liquid Network is one such important development that has allowed it to stay in the cryptocurrency chasm and perhaps leave its mark in the years […]
The post Tether’s integration with Liquid Network opens a floodgate of opportunities for arbitrage trading appeared first on AMBCrypto.
Bitcoin and the aggregated crypto markets have once again incurred an influx of volatility that has extended the instability that was first incurred just over one week ago when BTC sharply moved towards $11,000 but failed to sustain this movement.
Cryptocurrencies are frequently compared to the Wild West, with regulators as the absent lawmen. But authorities are now appearing in force, and cowboys are taking note. The latest actions against BitMEX could completely upend the crypto trading industry.
A Bloomberg report citing an insider source claimed that the Seychelles-based BitMEX cryptocurrency exchange is being investigated by the U. S. Commodity Futures Trading Commission (CFTC). The report suggests that the CFTC is investigating whether the exchange allowed US consumers to use its platform.
The Commodities and Futures Trading Commission (CFTC) has started an investigation into BitMEX, the largest margin trading platform in the crypto market, according to a Bloomberg report. BitMEX, along with other major margin trading platforms, have not allowed U.
The Commodities and Futures Trading Commission (CFTC) has started an investigation into BitMEX, the largest margin trading platform in the crypto market, according to a Bloomberg report. BitMEX, along with other major margin trading platforms, have not allowed U.
The US-based cryptocurrency exchange, Poloniex, had previously allowed its users to perform margin trading and did not deal with fiat currencies. However, in a recent development, the Delaware-based cryptocurrency exchange platform has revealed enabling fiat to crypto trading on its platform.
Bitcoin and the entire crypto markets are experiencing a green Monday, with most major assets trading up a few percent. Today’s price surge has allowed BTC to establish the lower $11,000 region as a level of support and may have contributed to growing technical strength.
Bitcoin (BTC) and the general crypto markets have been on the up-and-up over the past several months, incurring significant buying pressure that has allowed them to surge significantly from their 2018 lows that were mostly established in December of last year.
After an extended period of sideways trading, Bitcoin and the aggregated crypto markets have been able to surge today, which has allowed BTC to break above its previously strong resistance level that existed at $8,000.
After facing an extended bout of sideways trading, Bitcoin incurred a sudden influx of buying pressure earlier today that allowed it to surge past $9,000, which immediately led many investors to believe that an extension of this surge would lead the crypto to the coveted $10,000 region.
In just 24 hours, Huawei smartphones have gone from thriving to endangered. Last night, Google announced that it’s ceasing business with the company. This means it won’t be allowed to use Google Play services, or proprietary apps like Gmail and Google maps for its upcoming phones.
By CCN: The crypto market took a breather from its bull run this week, with Bitcoin slightly departing from its recent year-to-date peak. However, NEM has been defying this mini-correction mood to gain over 55 percent since Monday, according to Coinmarketcap data.
WeChat, the #1 messaging app in China, is also widely used for cryptocurrency transactions. Recently, WeChat Payment has revised the “WeChat Agreement for Payment Service,” which involves the control and regulation of illegal transactions, including cryptocurrency transactions.
Cardano has seen an impressive 70% price increase over the past 90 trading days that has allowed the price…
The post Cardano Weekly Price Prediction, Is the Price Headed Towards $0.075? appeared first on Invest In Blockchain.
CryptoNinjas
Smartlands, a platform for crowdfunding investments through the issuance of security tokens, today announced the deployment of a fully compliant Stellar wallet for on-chain trading of security tokens.
After a relatively long period of choppy trading within the lower-$5,000 region, Bitcoin (BTC) has finally incurred another influx of buying pressure that has allowed it to surge higher, with the key resistance level of $6,000 looming just over the horizon.
Wall Street Market, the second-largest darknet market in the world in recent months, has been shut down by international law enforcement agencies, including Europol as well as U.
Following Bitcoin’s overwhelmingly positive price action over the past couple of weeks, the cryptocurrency has finally hit a strong level of resistance that sent it spiraling downwards. Now, BTC is beginning to establish fresh levels of support and resistance, which may lead to the formation of a fresh trading range.
Hester Peirce, a U. S. Securities and Exchange [SEC] commissioner, explained her stance on the Bitcoin ETF proposed by the Winklevoss brothers, in an interview with Laura Shin for Unchained. In July 2018, the SEC made headlines after rejecting a rule change proposal, which would have allowed trading of an exchange-traded fund.
A quant has revealed how Ethereum (ETH) saw a death cross in this indicator shortly before bearish momentum took the asset in full force. Ethereum Formed A Death Cross In Funding Rates Earlier In a CryptoQuant Quicktake post, an analyst has shared a chart for the Funding Rates of Ethereum.
Ethereum is facing mounting pressure after weeks of relentless selling and underwhelming price action. Since January, bulls have failed to regain control, and ETH has continued to bleed value in a market increasingly dominated by fear and uncertainty.
Ethereum is once again under heavy selling pressure after losing the critical $2,000 level — a psychological and technical zone that bulls have struggled to defend in recent weeks. With price action turning increasingly bearish, investor sentiment is weakening, and analysts are warning that a deeper correction may be on the horizon.
The Ethereum price will be happy to see March come to a close after posting one of its worst first-quarter performances ever. According to CoinGlass data, the price of ETH is down by nearly 50% in the last three months.
Following a period of intense price consolidation, the Ethereum (ETH) market experienced an eventful trading week that featured a damning rejection at the $2,100 price level which has emerged as a major resistance zone in recent times.
Ethereum has experienced a crucial surge above the $2,000 mark, a key level that bulls have struggled to reclaim since March 10. This breakout brings renewed optimism, as analysts believe a stronghold above this level could trigger a rally toward higher prices.
According to an X post by crypto analyst CryptoGoos, Ethereum (ETH) may be nearing the end of a bear trap. The analyst predicts that the cryptocurrency could surge past its recent range high of $4,000, potentially eyeing a new all-time high (ATH) of $10,000.