Like Bitcoin and most other top cryptocurrencies, the past few weeks have been stagnant for Ethereum. The cryptocurrency has consolidated around ~$230, failing to breakout in either direction.
Stepping back, though, analysts are saying that ETH’s chart looks bearish. One analyst went as far as to say that the cryptocurrency is currently in an “ominous” position due to a strong rejection at a crucial horizontal level.
Related Reading: Fund Manager Reminds Bitcoin Investors to “Be Patient” as Price Stalls in $9ks
Ethereum Is Primed to Correct Lower
The lead technical analyst at crypto research firm Blockfyre recently said that “zooming out” to the three-day time frame, Ethereum’s recent price action looks “ominous” due to the rejection at $250:
“Maybe a short term bounce coming but eh [sic] downside seems so favorable.”
Ethereum price analysis by Pentoshi (@Pentosh1 on Twitter). Chart from TradingView.com
As the chart indicates, $250 has been a crucial region for the cryptocurrency over the past few months, and also acted as a level of importance in the previous bull run.
The aforementioned analyst is far from the only one indicating they see a correction for Ethereum down the pike.
Ethereum price analysis by cryptocurrency trader ‘Edward Morra’ (@edwardsmorra_BTC on Twitter). The chart from TradingView.com
Per previous reports from Bitcoinist, an analyst suggested that Ethereum has an underlying seasonality where it rallies in the first half of the year, then corrects in the second half.
Should this pattern persist in 2020, the top altcoin is poised to experience a six-month correction that could potentially bring it back towards the ~$100 range.
“Since 2016, 7/9 times ETH pumped during first of the year & then corrected during second half. Only exceptions are 2 cycles in 2017-18 bullmarket when they swapped. If ETH follows its cycle this time then high of the year could be in & we’ve 6 month correction,” the analyst who shared the chart above remarked.
Investors Are Betting On Upside
Ethereum investors seem to be betting on the bull case, though.
Blockchain analytics firm Santiment reported on June 17th that addresses associated with ETH miners are accumulating the cryptocurrency en-masse.
“$ETH miners appear to be back in accumulation mode. After a mild bag dump around the time $ETH began to consolidate, miners have resumed accumulating for the time being.”
“ETH Miners May be Back to Accumulating” chart from blockchain analytics firm Santiment
The accumulation has purportedly taken the form of 15,000 ETH in the past two weeks. That’s to say, miners have collectively accumulated ~$2.5 million worth of the cryptocurrency over the past two weeks alone, suggesting they are expecting medium-term upside.
Smaller market participants, too, are optimistic. Glassnode reported on June 17th that the number of ETH addresses holding at least 0.1 coins (~$23) “just reached an ATH of 3,002,281.000 Previous ATH of 3,002,015.000 was observed on 17 June 2020.”
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Analyst: Ethereum Price's Chart Looks "Ominous" After $250 Rejection origin »
Bitcoin made a big move today, briefly hitting five figures again and breaking key technical resistances. The gains may well be halving hype-driven, but the chart setup looks good for further increases.
• LTCUSD remains in a range-bound market in the medium-term outlook and looks bullish in its short-term outlook.• The bulls are dominant in the market at the present. LTC/USD Medium-term Trend: Ranging • Resistance Levels : $70, $80, $90• Support Levels: $20, $10, $5 LTCUSD on the daily chart remains in a range-bound market undeniably. […]
Bitcoin's "golden cross" formation suggests further upside is likely for the leading digital currency.
The post $10,000 Bitcoin Looks Imminent Based on This One Crucial Chart appeared first on CCN.com
A key price indicator has turned bullish for ethereum on the long term chart of weekly price candles. MACD, which looks at momentum and trend direction over weekly periods in...
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Bitcoin price is down around 4% and it broke the key $7,000 support against the US Dollar. The price is likely to continue lower towards $6,500 or $6,200 in the near term. There is a short term contracting triangle forming with resistance near $6,880 on the hourly chart of the BTC/USD pair (data feed from.
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Is the bottom in? Since Bitcoin (BTC) fell precipitously to $6,600 late last month, analysts have been asking if the leading cryptocurrency has finally found a price bottom after a multi-month downturn.
Ripple price is trading nicely above the $0. 2200 and $0. 2180 support levels against the US dollar. The price is likely to accelerate gains if it breaks the $0. 2300 resistance area. There is a new connecting bullish trend line forming with support near $0.
Bitcoin price is extending losses and it traded below the $8,640 support against the US Dollar. The price is likely to decline further below the $8,560 and $8,500 support levels. Morning’s short term breakout pattern was breached with support near $8,650 on the hourly chart of the BTC/USD pair (data feed from Kraken).
October 25, the Bitcoin price chart looked to have completed an inverted bart pattern, one that had started to form after the price dropped toward the end of last month. Since breaching up past the $8The post Bitcoin looks stable in the short-term, bearish in the long appeared first on AMBCrypto.
Финансовый эксперт и критик биткоина Питер Шифф считает, что техническая картина биткоина выглядит «ужасно». Медвежий флаг указывает на возможность падения к $6000, согласно его анализу. The Bitcoin chart looks horrible.
Финансовый эксперт и критик биткоина Питер Шифф считает, что техническая картина биткоина выглядит «ужасно». Медвежий флаг указывает на возможность падения к $6000, согласно его анализу. The Bitcoin chart looks horrible.
If you’ve been on Crypto Twitter over the past 24 hours, you have likely noticed one Bitcoin-bashing tweet from Peter Schiff. The message, which can be seen below, shows the libertarian investor claiming that BTC’s price chart “looks horrible.
Bitcoin price is back in a downtrend with a close below the $8,000 support against the US Dollar. The price is trading below the $8,000 support and remains at a risk of more losses below $7,800. Yesterday’s highlighted major declining channel was breached with support near $8,100 on the hourly chart of the BTC/USD pair.
XRP despite exhibiting any significant price rally in 2019 managed to hold its third spot on the CoinMarketCap ranking. The altcoin was trading at $0. 276 at press time, having seen a 1,93% rise on the 24-hour price chart.
Holochain is up 5. 4% in USD on the week and also up 6. 4% on BTC in the same time-frame. It is currently worth only 9 satoshis, a huge drop from its most yearl high from January when HOT was worth 41 satoshis.
Bitcoin price is currently declining and is trading well below $8,000 against the US Dollar. The price is struggling to recover and it looks set to decline further towards the $7,500 support. There is a crucial declining channel forming with resistance near the $8,050 level on the hourly chart of the BTC/USD pair (data feed.
Litecoin has recently broken out of a descending channel on the Bitcoin pair and looks poised for a bullish reversal as Bitcoin continues to create lower lows. Traders speculate Bitcoins decline could fuel a Litecoin pump over the coming days.
Ethreum was trading at $172.24 at press time with a downfall of 1.54% on the 24-hour price chart and registered a market cap of $18.5 billion. The altcoin has been trying to recover from its losses which were triggered on 24th September, which saw the majority of the cryptocurrency market depreciate in value. 6-Hour Price […]
Tron the 14th largest cryptocurrency by market cap has been struggling to gain the lost grounds of 24th September when its price fell from $0. 0143 to $0. 0115. It was trading at $0. 0136 at press time, having seen a decline of 0.
After much anticipation of an explosive move, Bitcoin has finally chosen a direction for the short-term dumping through the asymmetrical triangle support. Current market price rests on $8,100 support but looks poised to drop further.
ETH price corrected higher from the $152 low and traded above $165 against the US Dollar. The price is currently struggling to break the $172 and $175 resistance levels. Yesterday’s highlighted key bearish trend line is still active with resistance near $172 on the hourly chart of ETH/USD (data feed via Kraken).
Dogecoin has fallen by a whopping 15% since yesterday, following the bigger market trend as the whole crypto industry made a sharp turn to the south. Let’s first see how does the chart of the overall market looks like: As you can see, market is struggling to hold the old support zone at $219 billions.
Bitcoin price is under pressure and it recently broke the $9,800 support area against the US Dollar. The price is currently consolidating losses below $9,800 and it remains at a risk of more downsides.
Bitcoins price movements have been quite slow over the past few weeks as price action consolidates around the $10,000 mark. Volume remains low and price action looks poised for a drop below $9,000 over the coming days.
Bitcoin was trading at $10,105 at the time of writing, with the coin recording a fall of 0. 83% over 24 hours. The king coin has maintained its position above $10k since its fall on 19 September, with its price fluctuating between $10,100 and $10,350.
Bitcoin price levels quickly bounced off the triangle support at $9,400 back up to just below $11,000 at the beginning of September. Since then BTC has formed a falling wedge and looks poised for another move up.
ETH price is showing positive signs above the $180 pivot level against the US Dollar. The price is likely to continue higher above the $184 and $185 resistance levels in the near term. There is a key bullish trend line forming with support at $178 on the hourly chart of ETH/USD (data feed via Kraken).
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Few hours ago, in a tweet, acclaimed trader and analyst Peter Brandt hinted at bitcoin ‘possibly’ entering the next leg of its next/ fourth parabolic price rally. But, what really is his claim based on? Retweeting a tweet from Raoul Pal, Founder/CEO – Global Macro Investor and Real Vision Group, Peter shared a BTC/USD chart which looks something as below.
Yes, the second-largest cryptocurrency, Ethereum, has breached support that was last seen in March 2017 and has dipped further below and it looks like it is not going to stop anytime soon. ETH/BTC The chart attached below shows Ethereum tested the support [0.
As mentioned in the crossroads article, Bitcoin has successfully invalidated the support after breaking out of the rising wedge and closing below it in the one hour chart. The short-term prospect for Bitcoin from hereon looks bleak and gloomy as, at press time, the price of Bitcoin was $9,943, after it had collapsed by more […]
The post Bitcoin’s imminent support breached: $9,700 to $9,400 or $10,100 to $10,700? appeared first on AMBCrypto.
Bitcoin has been in a steady uptrend since the weekend. The short term picture looks promising but a conflicting technical signal indicator on a longer term chart could spell the end of the upturn.
A recent break-down out of the asymmetrical triangle mentioned in my previous BTC analysis looks poised to continue down to support levels below $11,000. Bitcoin price levels hold above $11,000 for now but the low volume could cause this support to break.
ETH has been consolidating within a sideways range for the last 2-3weeks and looks to finally break to the upside. Ethereum price action has broken out of an asymmetrical triangle and looks poised for a move back up to $300 this week.
A big move was expected for bitcoin price and it came yesterday with a swift plunge back into four figures. The move resulted in a $15 billion dump from crypto market capitalization as altcoins blindly bled out in the shadow of their big brother.
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.
Over the last 24 hours, BTC has convincingly broken to the upside resulting in price levels hitting the bullish target set in my previous Bitcoin price analysis piece just 2 Day ago. Price action looks to now be forming a rising wedge type pattern that should see BTC re-test POC around $11,250.
Bitcoin has broken to the upside within the last 48 hours. This paired with the recent 200EMA / 50MA bullish cross could indicate the start of a new bullish uptrend. $11,300 looks to be a strong support zone around POC (Point of Control) that will dictate the sustainability of this new uptrend.
Current Bitcoin Chart Looks Like The $3,200 Bottom Inversed After days of inaction, Bitcoin (BTC) bears have finally shown their hand. In the past 24 hours, the leading cryptocurrency has shed around 2%, falling from a multi-day.
Since its third major surge of the now two month old Bitcoin rally, the king of crypto has held on to all of its gains. Support and resistance zones have shifted to new higher levels and the chart, when zoomed out, looks unnaturally parabolic, remnant of the December 2017 one.
Ripple price extended its rally above the $0. 4500 and $0. 4700 resistances against the US dollar. The price tested the $0. 4800 area and it looks set to extend gains above $0. 5000. Yesterday’s highlighted important ascending channel is intact with support near $0.
Mid May Update: Technicals Zilliqa’s daily ZILBTC chart still looks terrible – ZIL dropped out of the descending channel, currently ranging in the uncharted territories, reaching its all time lows in BTC with every passing day.
The Ethereum price latest market slump has placed Wall Street veteran Tom Lee’s ambitious $1. 3 billion in ETH treasury bet under severe pressure, as whales and institutional funds begin to retreat from the world’s second-largest crypto asset.
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In another blow to the decentralized finance (DeFi) sector, Bunni DEX, a Uniswap V4-based decentralized exchange, has announced its permanent shutdown following an $8. 4 million exploit that crippled its operations.
The latest cryptocurrency investment of a US legislator, who bought Ethereum (ETH) when its price dropped below $3,000, is generating headlines. Representative Michael Collins has reportedly taken advantage of the dip by purchasing between $1,000 and $15,000 worth of Ethereum.
Analysts said that two of the biggest cryptocurrencies in the world are riding on the waves of positive sentiments as the exchange-traded funds of Bitcoin and Ethereum reached record highs. The pro-cryptocurrency stance of US President-elect Donald Trump continues to fuel the positive outlook, propelling BTC and ETH to attain unprecedented levels. Related Reading: Operation […]
On Monday, the State of Michigan revealed substantial investments in cryptocurrency exchange-traded funds (ETFs) for Bitcoin and Ethereum in a 13F filing with the US Securities and Exchange Commission (SEC).
For years, Ethereum has established itself as the second-best competitor to Bitcoin regarding technology, innovation, and use cases. If many consider Bitcoin as ‘digital gold,’ Ethereum would be ‘digital silver.
