Ethereum Price Weekly Analysis – Consolidation Or Indecision?
Ethereum price started a correction after a monster decline. Can the price consolidate before gaining further or is this an indecision? Ethereum price declined heavily this past week and traded below the $7.0 level against the US Dollar. Sellers were completely in control and succeeded in taking ETH/USD down during this past week. However, the downside was stalled near $7.00, and the bulls managed to push the price back up. There was a bearish trend line formed on the 4-hours chart of Ethereum price (data feed via Kraken), which was broken to set the pace for a correction. After a break,....
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Ethereum price hit the final sell target of $8.00. Moving ahead, it is wise to wait for the next move as there may be a minor consolidation underway. Ethereum price ETH moved just as forecasted in my yesterday’s post in which I stated that there is a chance of the price moving down close to the $8.00 level. There was a downside thrust, and ETH/USD formed a yet another weekly low below $8.00. However, the bears need to be very careful in the short term, as there is a possibility that ETH may move in a range for a few hours before deciding the next move. I prefer not to trade when the market....
Ethereum Price Key Highlights. Ethereum price is still slowly climbing, transitioning into a rising wedge formation from an earlier ascending channel. Price bounced off the mid-channel area of interest as predicted in an earlier article, reflecting increased bullish pressure. With the consolidation getting tighter and ethereum price approaching the peak of the wedge, a breakout in either direction is imminent. Waiting for Bitcoin Breakout? Bitcoin is also stuck in a consolidation pattern, as traders are probably on the lookout for more catalysts. This has kept ethereum price in....
Ethereum price broke a major consolidation pattern, and if the ETH/USD bulls remain in control there is a chance of more upsides. Ethereum Price – New Weekly High Possible? Ethereum price ETH showed a lot of positive signs yesterday, as it managed to gain bids vs the US Dollar. There was a contracting triangle pattern formed on the hourly chart (data feed via Kraken) of ETH/USD, which was broken during the upside move. The price settled above the pattern resistance area, and even closed above $9.00. One significant bullish sign is the fact that the price is now well above the 100 hourly....
The price of Bitcoin (BTC) showed indecision for weeks as the price moved in a range for weeks between $19,500-$20,000, with the price stalling on the next movement. Despite so many expectations of the price having a short squeeze to a range of $21,600 before Bitcoin (BTC) next moves down, this wasn’t the case as the price broke below key support of $19,000. (Data from Binance) Related Reading: Bitcoin Price (BTC) Slides Under $19,000 — The First Time Since July 4 Bitcoin (BTC) Price Analysis On The Weekly Chart The price of BTC has had difficulty replicating its bullish move that....
The price of Polygon (MATIC) has struggled to stay above the key support zone of $0.8 as the price of Bitcoin (BTC) showed indecision for weeks as the price moved in a range for weeks between $19,500-$20,000 with the price stalling on the next movement. This has affected the price of altcoins, including Polygon (MATIC), as prices dropped below $0.8 but reclaimed that region quickly. (Data from Binance) Related Reading: Why Ethereum Price Longs Might Profit Ahead Of “The Merge” Polygon (MATIC) Price Analysis On The Weekly Chart The price of MATIC has had a difficult time replicating its....