Ethereum (ETH) Price Trends (Week of July 20th)
Ethereum is currently traded between two key technical levels. An exit from that range will most likely provoke a weekly trend. Will the long-term upward trend continue? Ethereum’s price continues correcting toward the downward trend. So far, the structure of this downward trend was not disrupted. That’s why the advantage is held by the bears at the moment. The downward rebound has achieved its minimal target. The upward movement is of a larger scale than the previous correction. Because the minimal rebound has been fulfilled and the structure of the downward trend was not disrupted at the....
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Bitcoin opened July with a value of circa $640 and by the end of the month it settled at just under $590. During the month of July several events occurred that should have had an effect on the value of, what is recognized as, a volatile commodity (all currencies can be thought of as commodities in economics). During the month of July the proposed New York regulations for traders that accept bitcoins, as well as those that store them, were announced (BitLicense). This announcement happened on July 17th, yet the Bitcoin value remained stable until July 20th. Why did the market not act on....
Ethereum Classic has almost matched Dogecoin’s massive pump in the last seven days. Ethereum Classic (ETC) continues to maintain its parabolic price action advance that began in late March.Data from crypto market aggregator Coingecko shows ETC is up almost 50% in the last 24-hour trading period as of the time of writing.Indeed, the 20th-ranked crypto by market capitalization is currently at an all-time high above $76.Source: TradingViewThe first likely reason for this current price action advance is that it is a continuation of ETC’s positive performance since the end of Q1 2021. As....
The plateaued movement of Bitcoin’s price can’t keep up for long. What outcome is to be expected for BTC/USD this week, and how should one go about catching the trend? The BTC/USD price has been staying between the two weekly resistance lines for the past week. This indicates an almost even distribution of power between the Bears and Bulls. However, at the end of the week, the sellers had the advantage. The buyers didn’t even have enough strength to break through the level of $422.
Despite having a boom week, Bitcoin, the most valuable cryptocurrency, sank to its seven days low. Several other altcoins that had also been rallying dropped, including the second-largest coin, Ethereum, which fell over 5%, XRP fell by 4%, and ADA took the lead with 6%. Over the last nine days, Bitcoin has seen positive momentum. From a low of $19,230 to a high of $24,280, the leading cryptocurrency has increased in value by more than 26% since July 12. Related Reading | TA: Ethereum Stuck In Key Range, Why $1,480 Is The Key Nonetheless, BTC’s most recent rise failed to surpass....