This Pivotal Level Could Trigger an Ethereum Correction Under $300

This Pivotal Level Could Trigger an Ethereum Correction Under $300
фото показано с : newsbtc.com

2020-9-17 13:00

Analysts are fearful that Ethereum could drop under $300 despite strength in Bitcoin and legacy markets.

Related Reading: This European Crypto Exchange Was Just Hacked for $5 Million Ethereum Could Move Under $300, Analysts Fear: Here’s Why

Ethereum is risking a drop under $300 due to it reaching a pivotal resistance region in the $380 region. One analyst commented on the matter:

“$ETH is likely headed to the top of this channel here at $400 and from there comes the moment of truth. I favor the RED path, but a HTF close above the RED region would force me to flip bullish. This is going to get interesting.”

Chart of ETH's price action over the past few years with analysis by crypto trader Credible Crypto. Chart from TradingView.com

The aforementioned analyst isn’t the only one that fears Ethereum could soon slip under $300.

Related Reading: Here’s Why This Crypto CEO Thinks BTC Soon Hits $15,000

One trader noted that ETH’s recent price action on its daily chart looks bearish as the asset has formed a rejection. This could trigger a drop towards $240, similar to the aforementioned target. Commenting on the potential of this scenario playing out, this trader remarked:

“Actually just going to pitch straight for $240 as the target for $ETH. Rejection looking rough still on the Daily, nothing that’s changed the trade or the plan.”

Chart of ETH's price action over the past few years with analysis by crypto trader Cold Blooded Shiller (@ColdBloodShill on Twitter). Chart from TradingView.com ETH Weakness Could Crush Altcoins

Weakness in the price of ETH could crush altcoins, especially DeFi coins.

One top Bitcoin trader on BitMEX noted that ETH falling under $350 could trigger “another -25% day” across the board for DeFi tokens, which is a phenomenon last seen earlier this month:

“Super important Level for $ETH: Currently $ETH and it’s ERC20 minions seem to be leading the market, would not be surprised to see another -25% day across the board for #DeFi tokens if $ETH trades under 350.”

Chart of ETH's price action over the past few weeks with analyis by crypto trader Flood (@ThinkingUSD on Twitter). Chart from TradingView.com

Over recent weeks, whenever ETH has slipped, altcoins have plunged. It appears that analysts see weakness in the price of ETH as a sign of bad things to come for altcoins, especially those based on the Ethereum network.

Related Reading: It’s “Logical” for Ethereum To Reject At Current Prices: Here’s Why Featured Image from Shutterstock Price tags: ethusd, ethbtc Charts from TradingView.com This Pivotal Level Could Trigger an Ethereum Correction Under $300 origin »

Bitcoin price in Telegram @btc_price_every_hour

Ethereum (ETH) на Currencies.ru

$ 1566.6 (-0.12%)
Объем 24H $9.75b
Изменеия 24h: -2.89 %, 7d: -5.75 %
Cегодня L: $1565.19 - H: $1573.91
Капитализация $189.063b Rank 2
Цена в час новости $ 380.88 (311.31%)

ethereum under could drop pivotal analysts region

Источник: newsbtc.com

ethereum under → Результатов: 126


Фото:

Bitcoin Will See a “Significant Retracement” If It Falls Under $8,600: Here’s Why

Analysts expect Bitcoin to see a “significant retracement” if the cryptocurrency falls below the crucial $8,600 support in the coming few days. Related Reading: The Ethereum Investment Case Has This Unexpected Achilles’ Heel Bitcoin Must Hold the Mid-$8,000s, Analysts Explain Bitcoin moving under $8,600 will spell disaster for the bull case, a top trader has shared.

2020-6-17 15:00


Фото:

В сеть утекли личные данные владельцев криптокошельков Ledger и Trezor

В сети появились данные покупателей аппаратных кошельков от компаний Ledger, Trezor и KeepKey. На утечку первым обратил внимание специалист сервиса Under the Breach. Он считает, что данные выставил на продажу хакер, ответственный за атаку на форум Ethereum.

2020-5-26 11:33


Фото:

Ethereum Whales Are Accumulating ETH Despite Consolidation – Does This Boost The Notion That It’s Undervalued?

The crypto market has been in a period of consolidation over the last two weeks, with Bitcoin finally finding a footing above the $9k mark after pulling back under the price level. Ethereum, too, has been consolidating, and it seems that big holders have some admiration for the second-largest crypto by market cap. More interestingly, […]

2020-3-7 19:26


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ethereum Struggles Below $2,000 As Volume Dries Up And Bears Dominate

Ethereum continues to struggle below the critical $2,000 level, with price losing momentum as volume fades and selling pressure builds. The lack of strong buyer interest leaves the market vulnerable, allowing bears to maintain control while key support levels come into focus.

Ethereum Reclaims $2,000 as ETF Inflows and Upgrade Roadmap Boost Momentum

After weeks stuck below a key psychological level, Ethereum (ETH) surged past $2,000 in a swift rally, pushing prices to $2,158 within a day. The recovery comes after a prolonged period of sideways trading around $1,900 and a broader correction that had pushed ETH more than 60% below its previous peak. Related Reading: Binance Faces […]

Iranians Turn to Crypto as Economic Crisis and Sanctions Deepen

As Iran’s economy continues to strain under heavy sanctions, high inflation, and a weakening currency, many citizens are turning to crypto as an alternative financial lifeline. Related Reading: Bitcoin Tailwind: Cathie Wood Sees ‘Reaganomics On Steroids’ Ahead Recent blockchain data shows a sharp rise in Bitcoin withdrawals and transfers to personal wallets, particularly during periods of unrest and internet restrictions.