Crypto Analyst Breaks Down Ethereum Price Movement Against USD and Bitcoin Providing Clarity On ETH’s Future Trajectory

2023-11-27 19:30

In a recent tweet, Jacob Canfield, a renowned crypto analyst, provided insights into the price movement of Ethereum (ETH) against both the USD and Bitcoin (BTC). In this article, we will delve into Canfield’s analysis, examining the market structure of Ethereum in both pairings and discussing the implications for traders.

Ethereum Against USD: Bullish Market Structure
Canfield highlights that the market structure of Ethereum against the USD pairing is currently bullish. He notes that since June of 2022, Ethereum has formed higher lows and higher highs, indicating an upward trend. Moreover, Ethereum is trading above the 200-day (200D) and 200-week (200W) moving averages, further supporting the bullish sentiment.

However, Canfield advises caution, as Ethereum is currently trading at a strong weekly resistance level. While it may be tempting to buy at this point, he suggests waiting for a daily candle to close above the $2135 resistance and then buying the retest. This approach offers a higher probability trade and reduces the risk of buying at a potential resistance level. Canfield emphasizes that these weekly resistance level breakouts have historically resulted in significant price moves of 30-40%.

Ethereum Against Bitcoin: A Different Picture
When analyzing Ethereum’s chart paired with Bitcoin, known as the ETHBTC chart, Canfield observes a distinct difference in the market structure. Unfortunately, he does not provide further details or analysis on this aspect, leaving traders to explore this pairing on their own or seek additional insights from other sources.

Expert Analysis for Informed Trading Decisions
Canfield’s breakdown of Ethereum’s price movement against the USD and Bitcoin offers valuable insights for cryptocurrency traders. By examining the market structure and identifying key resistance levels, traders can make more informed decisions regarding their Ethereum investments.

Canfield’s recommendation to wait for a daily candle closing above the $2135 resistance and buy the retest demonstrates a strategic approach to trading. This approach minimizes the risk associated with buying at a resistance level and increases the probability of a successful trade.

Read also:

Chainlink’s LINK at the Crucial 2021 Zone That Triggered a Major Price Rally, but One Final Thing Remains Expert Reveals the ‘Only Bitcoin Chart You Will Ever Need’, Explains the 5 Phases of BTC Halving Javier Milei, a Bitcoin advocate, wins the Argentine Presidential Race; Investors Flock to this Emerging AI altcoin, InQubeta

In conclusion, understanding the market structure and price movement of Ethereum against different pairings is essential for traders seeking profitable opportunities. Canfield’s analysis serves as a valuable resource for traders, enabling them to navigate the Ethereum market more effectively and make informed trading decisions.

We recommend eToro 74% of retail CFD accounts lose money. Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy thetrades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.

The post Crypto Analyst Breaks Down Ethereum Price Movement Against USD and Bitcoin Providing Clarity On ETH’s Future Trajectory appeared first on CaptainAltcoin.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3132.65 (-0.05%)
Объем 24H $12.735b
Изменеия 24h: 3.39 %, 7d: 7.82 %
Cегодня L: $3088.33 - H: $3144.08
Капитализация $376.3b Rank 2
Цена в час новости $ 2020.03 (55.08%)

ethereum both canfield crypto bitcoin eth against

Источник: captainaltcoin.com

ethereum both → Результатов: 126


Maryland, Northeastern University Researchers Discover Interesting Ethereum Contract Topology Facts

Ethereum’s smart contracts have laid the groundwork for many decentralized applications and platforms, but how useful are the byproducts of their technology? In a collaborative effort between researchers at both Northeastern University and the University of Maryland, a group formed set of data regarding the ways that Ethereum smart contracts have progressed to this point, […]

2018-11-3 21:57


Консорциум EEA выпустил новые спецификации для разработки корпоративных блокчейн-решений

Ведущий блокчейн-консорциум Ethereum Enterprise Alliance (EEA) опубликовал второй набор стандартов для разработчиков корпоративных решений на базе Ethereum, а также спецификации офчейновых доверенных вычислений.

2018-10-30 14:11


Фото:

WBTC: Wrapped Bitcoin Project Aims To Bridge BTC And Ethereum

A gulf separates the Bitcoin (BTC) and Ethereum (ETH) networks. Although many investors hold both assets, they have so far been unable to use them together in any meaningful way. A new initiative now wants to enable traders to get as close as they can to using bitcoin on the Ether network, gaining access to […] The post WBTC: Wrapped Bitcoin Project Aims To Bridge BTC And Ethereum appeared first on Crypto Briefing.

2018-10-26 14:00


Can Ethereum Ever Wield Enough Momentum to Surpass Bitcoin?

Deciphering the patterns behind the movement of cryptocurrency can be as brain-raking as advanced calculus for both new and existing cryptocurrency investors. Demand and supply may be seen as the major factor that generally controls the world of economics and finance, but the fact that cryptocurrency is still in its early stage of development, despite […] The post Can Ethereum Ever Wield Enough Momentum to Surpass Bitcoin? appeared first on ZyCrypto.

2018-10-25 17:22


Why Tesla Accepting Bitcoin (BTC) and Crypto Would Be Ideal for Both Industries

The Lamborghini has been the dream car for many crypto enthusiasts and traders ever since Bitcoin (BTC) and cryptocurrencies were popularized by mainstream media mid last year. Back then, and till around March this year, the words on every crypto trader were When Lambo? This phrase was used to indicate the need for a cryptocurrency […] The post Why Tesla Accepting Bitcoin (BTC) and Crypto Would Be Ideal for Both Industries appeared first on Ethereum World News.

2018-10-23 10:15


TRON (TRX) Main-Network Block Record 3 Mil: Lowest Price Weekly Decline

With coin values hitting surprising lows against the US Dollar following the leader Bitcoin’s BTC dump, it is best to sit back while not rushing anything and figure out the what to do next. One of the digital assets that is growing both its supporting community and technological potential with no stop is TRON [TRX] […] The post TRON (TRX) Main-Network Block Record 3 Mil: Lowest Price Weekly Decline appeared first on Ethereum World News.

2018-10-12 01:37


Blockchain Business in Crypto Valley Has Doubled Since Last Year: Report

The number of blockchain-related companies in Switzerland and Liechtenstein has doubled in the last year, according to a new study published by CV VC. The Zug-based firm, in partnership with Strategy& (PwC’s global consulting arm) and inacta, compiled information about the top 50 blockchain and digital asset companies between the two countries.

2018-10-11 00:18


Фото:

Universal cryptocurrency wallet Infinito Wallet integrates Coinfirm AML Platform and allows users to check risk rating of counterparties

LONDON: Thursday 11th September 2018 In an industry first, Infinito Wallet app users can now check the risk of addresses and generate a risk reports before transactions Coinfirm’s AML verification technology on top of Infinito Wallet’s existing infrastructure will heighten security and transparency This is another milestone of cooperation between both companies announced in August […] The post Universal cryptocurrency wallet Infinito Wallet integrates Coinfirm AML Platform and allows users to check risk rating of counterparties appeared first on Ethereum World News.

2018-10-3 11:40


Фото:

Hyperledger And The Enterprise Ethereum Alliance In Their Latest Partnership

The Enterprise Ethereum Alliance (EEA) are a group that work towards the one goal that unites the blockchain industry – mass blockchain adoption. According to new reports, EEA have announced a new partnership with Hyperledger, a faction of the Linux Foundation, one that provides a platform for open source collaboration within blockchain projects.

2018-10-2 13:30


Фото:

Australian and New Zealand Customs to Fine Visitors who Won’t Give Up Phone and Laptop Passwords

Thanks to veteran Bitcoin and cryptocurreny analyst, Will Woo, Ethereum World New was made aware of new rules by the customs departments of both Australia and New Zealand. Willy Woo first notified the crypto-community of the possibility of New Zealand Custom officials, asking for your phone and laptop passwords when you enter the country.

2018-10-2 11:32


Фото:

Gemini And Bittrex Add Bitcoin Cash (BCH) Fiat Support Amid Bitmain Pump

Bittrex And Gemini To Both Add BCH/USD Trading Pairs Bitcoin Cash (BCH), the controversial Bitcoin fork, has been seeing its time in the public spotlight over the past few days, with a series of news and developments pushing the price of this crypto asset sky-high, or ‘to the moon’ as some optimistic traders would like […] The post Gemini And Bittrex Add Bitcoin Cash (BCH) Fiat Support Amid Bitmain Pump appeared first on Ethereum World News.

2018-9-28 06:41


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

100X Profit Alert: These Cryptos Are on a Crypto Whale’s Watchlist

Investing in cryptocurrencies can reap significant returns, and certain coins have caught the attention of a seasoned investor with a reputation for big moves. As the market enters a bull run in 2024, understanding which cryptocurrencies are poised for potentially explosive growth becomes crucial.

Investor Enthusiasm Grows as BlastUP Presale Approaches Final Fortnight

BlastUP, the premier launchpad on Blast, has raised over $6 million during its presale with two weeks to go, reflecting robust demand amid the market recovery. Blast, the sole Layer 2 blockchain offering high native yield on ETH and stablecoin staking, is witnessing a surge of interest in its ecosystem’s launchpad platform, BlastUP ($BLP).

5 Telegram Mining Mini Apps That ‘Will Do Well’ Following Notcoin (NOT) Launch

The phenomenal rise of Notcoin (NOT) has ignited a new wave of excitement in crypto mining world, this time centered around the popular messaging app Telegram. In the wake of Notcoin’s resounding success, where both seasoned investors and newcomers alike reaped substantial rewards, a fresh batch of Telegram mining mini apps is generating significant buzz.