Ethereum has seen all of its recent upswings grow weaker throughout the past several months
Underlying weakness amongst ETH buyers could be enough to lead the cryptocurrency to as low as $40-50 by the end of 2021
Ethereum, like Bitcoin and most other cryptocurrencies today, has further extended the downwards momentum that was first sparked yesterday when the crypto lost its recent momentum and declined from highs of $190.
This current weakness appears to be directly correlated to that of Bitcoin, and one analyst is noting that he anticipates ETH to ultimately decline to as low as $40-50 by the end of the year.
Ethereum Flashes Signs of Underlying Weakness
At the time of writing, Ethereum is trading down just under 2% at its current price of $179, marking a slight extension of the downwards momentum incurred yesterday.
This bear-favoring short-term trend came about after the crypto faced a firm rejection in the time following its rally up to $190, with the rejection here suggesting that bulls don’t currently have enough support to catalyze a sustainable uptrend.
This present weakness also comes as Bitcoin risks losing the support it has established around $7,000.
One analyst mused a highly bearish possibility in a recent tweet while looking towards Ethereum’s USD trading pair, explaining that each bounce has grown weaker throughout the past couple of years.
To him, this signals that ETH has yet to see its final capitulatory drop, which could lead the crypto to the $40-50 region by the end of the year.
“ETH / USD 1W TF – As is evident, every bounce is getting weaker. Nothing about this structure to suggest we have broken macro downtrend. I believe we will range for some time, we can make money shorting and longing but my long term Ethereum target is $40-$50 by EOY,” he stated.
Image Courtesy of Escobar
ETH’s Path to a Long-Term Bottom Grows Clearer
The same trader also offered some thoughts on Ethereum’s short-term technical situation while pointing to its 3-day chart, explaining that he believes the ideal path to a long-term bottom will come about after a rejection at a key trendline sparks a decline to $40.
“ETH / USD 3D TF – This is the kind of price action I would want to see before calling a true bottom, until then the bigger picture is still bearish,” he said while pointing to the chart seen below.
Image Courtesy of Escobar
This potential plunge lower likely won’t happen independently of the aggregated crypto market and may be perpetuated by Bitcoin seeing weakness in the months ahead.
Featured image from Unsplash. origin »
Ethereum (ETH) continued to trade strongly on Thursday, sustaining its bullish momentum after it broke past minor resistance at $3,480 earlier this week.
Ethereum is currently looking to gain a strong footing above the $4,000 price level as bullish momentum continues to dominate. According to crypto analyst Ali Martinez, this bullish momentum could continue and Ethereum could as well reach $5,000 very soon.
Despite a sluggish beginning to the month, Ethereum is poised to gain bullish momentum, with key fundamental indicators signalling a potentially positive trajectory ahead.
After incurring an incredibly intense uptrend that led Ethereum to highs of over $175 yesterday, ETH has lost some of its momentum and has declined below $170, with this drop coming about concurrently with that seen by Bitcoin overnight.
Ethereum has extended its upwards momentum after briefly facing a bout of selling pressure yesterday that sent it reeling into the $160 region. Today, however, ETH has surged over 5% and is now nearing the $180 region.
Ethereum has stalled in its price gain momentum toward its recent price surge which has taken the coin to a high level when you look at the bullish pennant breakout situation. But no matter how the cryptocurrency tries to get there, it appears not to be moving that high.
Ethereum (ETH) and the aggregated crypto markets have been on a wild journey over the past several months, plummeting towards yearly lows earlier this year before incurring a massive amount of buying pressure that helped them set fresh year-to-date highs.
BITCOIN (BTC-USD) General bearish momentum is seen in the last 24hrs, is therefore confirmed by the 21 day MA that is seen above the 7 day MA indicating a bearish signal. A strong selling pressure is also encountered which is buttressed by the RSI that is seen below level 50.
Coinspeaker Ethereum Price Analysis: ETH/USD Price Broke Down $258 Level, Targeting $225Constant high momentum from the Bears will push down Ethereum price further and it may reach the demand level of $225 provided there is no much interruption from the Bulls.
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Bitcoin Yesterday, we reported that Bitcoin (BTC) wasn’t looking all too hot. As pointed out by analyst Joe McCann, for the first time in four-odd weeks, BTC’s upward momentum has slowed dramatically, with the recently-closed.
In his just-concluded AMA, former Ripple CTO Stefan Thomas praised Ripple’s InterLedger technology, as XRP prices maintained their upward momentum. The Ripple proponent in his prelude to the AMA said that he joined Ripple in.
The overall coin market was performing well throughout the week, will almost all coins treading a bullish market momentum. Ethereum and Tron also enjoyed a positive market, at press time. 1-Day ETH chart The 24-hour trading volume of Ethereum was $10 billion and the market cap was $28 billion.
Bitcoin Upswing To Slow Mike Novogratz, the Wall Street veteran founder of crypto bank Galaxy Digital, expects for Bitcoin (BTC) to soon slow its swing to the upside after rallying over 130% year-to-date.
Coinspeaker Ethereum Price Analysis: ETH/USD Price Approaches Potential Reversal Zone of $289It seems that the Bulls are gathering momentum to break up Ethereum's supply zone at $289.
Ripple price completed a downside correction near the 0. 00004600 level against bitcoin. XRP is gaining momentum above 0. 00005000 and it could continue to grind higher vs BTC. Key Talking Points Ripple price is trading nicely.
Bitcoin Ready To Hit $20,000 Bitcoin (BTC) has had a crazy past two months. In that time frame, we’ve seen the asset double, rallying from $4,200 to $8,600, the price as of the time of. . .
Coinspeaker Ethereum Price Analysis: ETH/USD Hits $275, Enters Potential Reversal ZoneFurther increase in the Ethereum price towards $287 level is possible only when the Bulls gain more momentum and the supply level of $275 is penetrated.
EOS price rallied significantly and broke the $7. 250 and $8. 000 resistance levels. EOS is placed in a strong uptrend, and ETH, XRP and BTC are currently consolidating recent gains. Key Talking Points EOS price surged.
Ethereum [ETH] was priced at $249. 94, and was down by 0. 44% over the past 24 hours. ETH was the second largest token with a market cap of $26. 55 billion, at press time. Tron [TRX] was the eleventh largest cryptocurrency, with a market cap of $1.
Bitcoin Could Soon Falter Somehow, someway, Bitcoin (BTC) has managed to keep up the bullish momentum for upwards of three months now. The short-term would suggest that this may continue. As analyst Dave The Wave.
After yesterday’s bearish movement, the cryptocurrency market was back in bullish pastures on May 24. The 24-hour trading volume of Ethereum [ETH] stood at $10. 67 billion, with the market cap at $26 billion, at press time.
After several weeks of bullish momentum, most of the top market cap cryptos are going through a period of consolidation. It’s unclear whether the market will pullback or experience new highs, and overall it seems wise to wait for confirmation before re-entering the market.
The aggregated crypto markets have incurred some selling pressure today that has sent Ethereum’s price reeling back nearly 5%, jeopardizing the upwards momentum that the crypto has incurred over the past several weeks.
Bitcoin Technicals Hint At Impending Pullback At last, upward momentum for Bitcoin (BTC) has finally begun to slow. During this bout of non-action, analysts across the board have been doing their best to determine what’s.
Bitcoin’s upwards ascent over the past several weeks has proven to be very positive for the aggregated crypto markets, and has allowed many major cryptocurrencies, including Ethereum (ETH), to put a significant amount of distance between their current prices and their yearly lows.
Bitcoin’s [BTC] recent comeback has reignited the rise of the altcoin market. With a record growth of 105% in five months, Ethereum [ETH] maintained its position as the best performing altcoin for value recovery.
Despite incurring a massive amount of buying pressure over the past several weeks that helped push the price of Bitcoin to fresh year-to-date highs around $8,400, this newfound upwards momentum stalled earlier this week when.
ETH/USD A bullish outlook is seen in the last 24hrs, this is confirmed by the moving averages which are moving side by side in an upward direction. The 7-day MA is seen above the 21day MA indicating bullish momentum.
Ripple price extended losses towards the 0. 0000400 support level before rebounding against bitcoin. XRP surged higher recently above $0. 4000 vs USD and gained momentum above 0. 0000500 vs BTC. Key Talking Points Ripple price declined heavily.
After surging towards $8,300 yesterday, Bitcoin has incurred increased selling pressure that has forced it to retreat back into the $7,000 region, putting its recently formed upwards momentum in jeopardy.
Coinspeaker Ethereum Price Analysis: ETH/USD is Testing Resistance at $210The breaking up of $210 level by the Bulls’ momentum will expose the supply level of $218. In case the Bears defend the $210 level, Ethereum price may pull back to $201 level.
ETH price gained momentum and traded to a new monthly high at $210 against the US Dollar. The price corrected lower, but it remains well supported on the downside near $192. Yesterday’s highlighted key bullish trend line is active with support near $192 on the hourly chart of ETH/USD (data feed via Kraken).
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Crypto investors have been celebrating as Bitcoin has been able to extend its upwards momentum as the cryptocurrency nears the $6,400 level, which is seen by many analysts as being a critical price point that.
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Coinspeaker Ethereum Price Analysis: ETH/USD Expected to Break Up at $178 and Target $186In case the Bulls do not lose their momentum and the $178 level does not hold, Ethereum price may reach the previous high of $186 level.
ETH price found support near the $164-165 area and bounced back against the US Dollar. The price broke the $168 and $169 resistance levels, and is currently gathering momentum. There is a breakout pattern forming with resistance at $172 on the hourly chart of ETH/USD (data feed via Kraken).
Bitcoin has been able to incur significant upwards momentum over the past 24-hours that has extended into the past couple of hours despite facing some downwards pressure earlier today. Despite BTC’s upwards surge, the general.
Crypto markets surge to new yearly highs; Bitcoin and Ethereum commanding things, Litecoin, EOS, Tezos and Cosmos all making. Market Wrap Momentum has been pretty monumental over the past twelve hours or so in crypto markets.
Coinspeaker Ethereum Price Analysis: ETH/USD Approaching Resistance at $194In case the Bulls lose their momentum and the $187 level does not hold, the Bears will push Ethereum price down to $178.
Ethereum is up over 6% in the past 24 hours as the market momentum intensifies. After trading in the $160 level the past week, the price jumped over $16 looking for new support in the $170 range.
Bitcoin could still yet break $6,000 as momentum holds, but charges of manipulation and calls for Binance to delist Tether, the 1. 1 million bitcoin at the centre of a long-running Florida court case and a.
Bitcoin Monthly Candle Closes Strong Just the other day, the April monthly candle for Bitcoin (BTC) finally closed. It marked the third month in a row that the cryptocurrency had posted gains, and in the.
Ethereum Price Analysis Ethereum recorded a loss last week which resulted in the price dropping below a support level at $166. $166 has acted formerly as both support and resistance. The level briefly provided some buying pressure during the volatile price drops in November.
Per time of writing, the 19th largest coin out of thousands by market capitalization is counting and welcoming a double digit gain of 10. 00 percent against the US Dollar. According to CoinMarketCap – the pair.
Over the past 24 hours, Bitcoin [BTC] crossed the $5500 mark, collectively boosting the market and improving the valuations of top altcoins. Ethereum [ETH], the largest crypto after Bitcoin, built on the momentum and exhibited a growth of 2.
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