Ethereum, like Bitcoin and most other major altcoins, has been firmly caught in a consolidation phase over the past few days and weeks, which has led it to stabilize around $130 as bulls and bears both attempt to take control of the cryptocurrency.
One analyst is noting that there are a couple technical formations that could allow the cryptocurrency to rally higher in the days ahead, with one of these formations potentially allowing it to bust through a key resistance region.
It is possible that this bullishness will be invalidated if Bitcoin is unable to stabilize or climb higher in the near-term.
Ethereum Enters Bout of Range Bound Trading as Market Consolidates
At the time of writing, Ethereum is trading down just under 3% at its current price of $129, which marks a decline from daily highs of nearly $136, and only a slight climb from lows of $126 that were set earlier this morning.
ETH appears to be closely tracking Bitcoin in the near-term, with the benchmark cryptocurrency currently trading sideways around $6,000.
Because the entire crypto market is currently consolidating, it is probable that a massive movement is imminent in the days ahead.
The key level that analysts are watching for Ethereum currently sits around $150, as a break above this level is imperative in order for the crypto to climb higher in the days and weeks ahead.
Cold Blooded Shiller, a prominent cryptocurrency analyst on Twitter, explained in a tweet that he isn’t able to look upon ETH with a bullish perspective until it is able to decisively break above the $150 to $160 level.
“I’ll start to speak more positively about ETH when we’re trading above here,” he noted.
I'll start to speak more positively about $ETH when we're trading above here. pic.twitter.com/Zkt14UaSw1
— Cold Blooded Shiller (@ColdBloodShill) March 21, 2020
These Bullish Factors Could Lead ETH Significantly Higher
Josh Olszewicz, another well-respected cryptocurrency analyst, explained in a recent tweet that there are two key factors that could provide Ethereum with some upwards momentum in the days and weeks ahead.
“4h ETH: e2e setup brewing, needs a bit more time for a higher probability trade. ugly iHS possible too. SL = 130ish. TP = 170,” he explained.
4h $ETH
e2e setup brewing, needs a bit more time for a higher probability trade
ugly iHS possible too
SL = 130ishTP = 170 pic.twitter.com/2Y0EKuYUov
— Josh Olszewicz (@CarpeNoctom) March 22, 2020
If the “end-to-end” set up he references does play out, it is possible that the “ugly” inverse head and shoulders pattern that is currently forming could be validated, further bolstering ETH and providing it with some significant upwards momentum.
Featured image from Shutterstock. origin »
Ethereum started a fresh decline below the $1,200 zone against the US Dollar. ETH might correct higher, but the bears could remain active near $1,230. Ethereum extended its decline and traded towards the $1,180 support zone.
ETH bears continue to suppress Ethereum price, but institutional traders’ buying activity and exchanges’ aiming to provide more transparency could improve investor sentiment.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
Over the last two days, Ethereum [ETH] recouThe post Ethereum: Rebound from this level can help bears retest $1,684 appeared first on AMBCrypto.
Ethereum is up more than 15% and it broke the $130 resistance area against the US Dollar. ETH price is now facing a few important downtrend resistances near $142 and $145. Ethereum is gaining traction and it recently surged above $130 and $135 against the US Dollar.
Ethereum is down more than 50% in a day against the US Dollar. ETH price broke many crucial supports and it is now approaching the $78 and $68 support levels. Ethereum collapsed below $150 and $100 in a harsh market crash against the US Dollar.
Ethereum’s spectacular climb in the second month of 2020 allowed it to tap as high as $280 before the bears got in the driver’s seat. But despite the downturn, reports showed that top ethereum holders were accumulating the crypto-asset.
As reported by Ethereum World News just a few hours ago, Bitcoin and the rest of the crypto market haven’t been doing too well. In fact, Ethereum, along with practically all other altcoins, has collapsed over 10% (compared to BTC’s relatively measly 7% loss or so) in the past day alone, marking a brutal loss for bulls.
Ethereum’s price action as of late has been closely correlated with that of Bitcoin, with the benchmark cryptocurrency’s recent volatility spilling over into the altcoin markets, subsequently guiding ETH and most other cryptos to post bear-favoring movements.
Ethereum has been one of the best performing major altcoins over the past several weeks, with the cryptocurrency surging past its previous resistance at $200 as its slow upwards grind begins turning into a parabolic...
Ethereum’s 2020 uptrend allowed ETH to forge a firmly bullish market structure that many analysts had expected to catalyze a massive parabolic rally. This bullish possibility is now at risk of being invalidated, however, as the crypto was rejected overnight at a key level.
Ethereum is up 2% and it broke the $175 resistance, while bitcoin rallied 5%. ETH price is now facing a strong resistance near the $178 and $180 levels. There was a steady rise in Ethereum above the $170 and $175 levels against the US Dollar.
Ethereum (ETH) has lost nearly all the momentum it had incurred over the past week, with its recent rally to highs of $148 being met with insurmountable resistance that has since forced it into a firm downtrend.
Coinspeaker Ethereum Is Staging Symptom of Back-Pedal in Latest Advance, Kindling the BearsThe refusal of the $148 Ethereum price level, due to which $150 was left unapproached, kindled bears that could gain momentum.
Bitcoin was rejected on a few occasions near $7,260 and $7,300 against the US Dollar. The price is currently declining and it remains at a risk of more downsides below $7,000. There is a declining channel forming with resistance near $7,180 on the hourly chart of the BTC/USD pair (data feed from Kraken).
After reclaiming the $130 level earlier this past week, Ethereum (ETH) is currently struggling to hold above this level as bears attempt to take full control of the aggregated cryptocurrency markets.
Ripple price is still struggling to gain momentum and declining below $0. 1920 against the US dollar. Yesterday, XRP failed to rise substantially, while bitcoin and Ethereum climbed more than 5%.
Ethereum and most major altcoins have been closely tracking Bitcoin’s price action as of late, and the aggregated market has been unable to find any decisive momentum over the past few weeks. This lack of momentum has caused ETH to hover around the $150 region as bulls and bears remain deadlocked.
Ethereum is currently consolidating losses above the $172 support against the US Dollar. Bitcoin price is also consolidating above the key $8,000 support area. There is a new connecting bearish trend line forming with resistance near $176 on the hourly chart of ETH/USD (data feed via Kraken).
Ethereum is currently correcting higher from the $172 support against the US Dollar. Bitcoin price is also correcting higher, but it is likely to face resistance near $8,250. There was a break above a declining channel with resistance near $175 on the hourly chart of ETH/USD (data feed via Kraken).
Ethereum has been stuck below its near-term resistance level at $190 for the past several weeks, and both ETH’s bulls and bears have been deadlocked as they hold the cryptocurrency steady within the mid-$180 region.
The boost in the cryptocurrency market on October 26, took the price of Ethereum [ETH] almost 23%. This rise took the price of the coin from $161.99 to $198.97, however, the ETH market corrected itselThe post Ethereum's market bid goodbye to bears as the bulls march in appeared first on AMBCrypto.
Ethereum noted an upsurge of 8. 44% in September, despite the wandering bears. The coin also noted a growth of almost 7% in October, but 100 moving average recently took over 50 moving average. With the 100 moving average resting under the 50 moving average, Ethereum noted a total gain of 57.
Following the fall of Bitcoin on 24 September, there was a major scare about altcoins following suit. And, while the likes of Ethereum and XRP did fall in valuation, they managed to correct themselves and recovered their losses, unlike the largest asset in the industry.
Ethereum’s price noted an 8% hike in the month of September and has since, maintained its gradual growth in October too. The price of the second-largest coin has jumped by over 4% over the past week and was valued at $171.
By Dmitriy Gurkovskiy, Chief Analyst at RoboForex On Friday, September 27th, ETH remains under pressure, trading at $165. 51. On D1, the Ethereum price is developing a new impulse of decline upon completing a pullback.
The largest altcoin, Ethereum was trading at $167. 56 with a total market cap of over $18 billion at press time. The cryptocurrency had a trade volume of $5. 2 billion in the last 24 hours, and did not record a significant rise or fall.
Ethereum bears have consistently called DAI an unreliable stablecoin, as the peg is dependent on supply and demand stemming from Collateralized Debt Positions (CDPs) on MakerDAO. Similarly, those leveraging DAI to stack 10-14 percent of interest a year might be worried about the DAI peg collapsing.
After treading bearish sentiments for the past couple of months, Ethereum’s valuation indicated a break away from the bears at press time. In the last 11 days, Ethereum’s price registered a growth of over 10 percent in the charts.
Over the past couple of months, Ethereum has been in the bears’ territory. The 2nd largest asset slumped by 42. 65 percent since July 8th and the coin ended up breaching key supports which were active resistances at press time.
Ethereum’s recent price action is giving bears the courage to come out of hiding. After all, the No. 2 cryptocurrency is down by over 52 percent from the 2019 peak of $363. 30. Some traders are even proclaiming that Ethereum will be “dead money for years.
It has been a tumultuous period for the cryptocurrency industry. Ever since the bull run came to a conclusion on 26 June this year, a majority of the altcoins’ valuation suffered under the hands of the bears.
Last week the market was raided by bears. This saw most top coins plummet in a couple of hours and sentiments change. The plunge began with Bitcoin dropping below $10,500 before finally falling below $10K.
After Ethereum saw a massive fall of over 8 percent on 14th August, the price indicated considerable recovery with a growth of over 2 percent in the past 24 hours. Is the recovery at press time enough to indicate that Ethereum has broken away from bears? Ethereum’s 4-hour chart At press time, Ethereum indicated a […]
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The last 24 hours have been dramatic for the crypto market. The bears have taken control and shown their might. Their influence has seen the market wipe out more than $20 Billion in the last 24 hours.
ETH price failed to surpass the key $215 resistance area and declined again against the US Dollar. Ethereum price is now trading below the $214 level with a bearish angle. Yesterday’s highlighted key ascending channel with support near $213 was breached on the hourly chart of ETH/USD (data feed via Kraken).
The last seven days have been stale for the market. The bulls have taken a step back and in their absence, the market bears have been having their way with the market. Their presence has largely been felt by altcoins which continue to bleed.
Ethereum price recently broke out of a period of consolidation as mentioned in my previous analysis on ETH, completing an asymmetrical triangle in favors of the bulls but has since begun a pullback breaking the short-term support.
Ethereum’s price was on a steady run-up for a while but has faced roadblocks in recent times. One such roadblock is the EIP-2025 for the Istanbul update. The controversy surrounding this proposal has caused the price of Ethereum to dip.
Ethereum, like most altcoins, has been clobbered by bitcoin in 2019, losing more than 39% against the flagship cryptocurrency. ETH recently broke below its historical support of 0. 025 BTC and printed a fresh all-time low of 0.
Since the 10th of July price levels have broken down out of the ascending channel as mentioned in my previous analysis to key support around $190. Ethereum price looks poised for a reversal at this key level as we near the month of August.
ETH price remained in a bearish zone and broke the $208 support area against the US Dollar. The price tested the $200 support area and it remains at a risk of more losses. There is a major bearish trend line forming with resistance near $214 on the hourly chart of ETH/USD (data feed via Kraken).
The crypto exchange ByBit has been hacked, and roughly $1. 5 billion in Ethereum (ETH) has been stolen — making this one of the biggest hacks in history. On Feb. 21, the crypto trading platform stated on social media platform X that it detected unauthorized activity involving one of its Ethereum cold wallets.
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Ethereum price has recovered from lows of $2,619 to trade above $2,728. Incidentally, ETH price as jumped by more than a percentage in the past 24 hours. The gains come amid a spike in daily volume, with data showing the global trading volume on the Ethereum network hit $20 billion. While ETH remains below the […]