Ethereum (ETH) Price Trends: 5/24/2016
After the end of its short-term upward trend, Ethereum is continuing to form a medium-term flat. The price is close to the bottom limit, from which an upward rebound is also likely. Will the medium-term upward trend continue? Ethereum’s price is approaching the bottom limit of the flat. That means that the market will soon reach a decision point for the direction of the coming weekly trend. The minimal correction target for the whole upward trend, which started at $10, is reached. Thus, the market will decide between two options at the bottom limit of the flat: either a correction of a....
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Ethereum’s price has formed a flat. It may provoke a short-term trend when it leaves the corridor. Which direction will Ethereum choose? The downward trend on Ethereum’s market is not broken yet. The price is moving within a flat, preparing for another dash. If the downward trend is to continue, there will be a bounce off that point, but if the bulls hold the advantage, Ethereum’s price will start fortifying at that level. The change of trends is most likely to happen at the top limit of the trend, which is at the level of $8.4.
30 March 2016 – This month leaves us some interesting trends in the cryptocurrency market, With Bitcoin remaining solidly above $400 USD coming out of last month’s bullish run, scraping $399 just once on the sixth and averaging day-to-day around $415. This despite a plateau in hashpower on the network, likely in anticipation of the coming halving and problems with core scaling development. Even more fascinating, though, is the explosive price increase of Ethereum, increasing 64.8% to it’s current $11.66 price point at the time of writing.
Ethereum is forming a short-term flat. The situation is heating up. Powerful impulses usually follow after long flats such as the current one. The advantage is with the bulls. So far, this movement seems to be a correction toward the upward trend. Ethereum’s price has rebounded off the level of large volumes, around $9. That mark will be the peak of a rebound toward the upward trend, where a change of trends could happen. If the bears win the advantage, Ethereum’s price is going to fortify at the level of $9 and form a turn. In that case, there will be a good chance for a fall down to....
Ethereum’s price has stopped before choosing a direction. What is to be expected? Which direction will Ethereum pick? After bouncing off the $11.4 resistance, Ethereum’s price failed to hold at that level. The buyers were more numerous. The $11.4 level is important because it’s the most profitable price for the Bulls. If one compares the rebounds of the upward trend, that becomes easy to notice. Most traders make their decisions at points exactly like that.
The 2024 Bitcoin halving is only two days away, and there are already varying expectations of what might happen to the BTC price once the event is completed. One way to get an idea of how it could play out for the Bitcoin price, though, is through historical data and how the cryptocurrency has performed at times like these. Bitcoin Price Trends For Previous Halvings There have been three halvings so far since Bitcoin was first launched in 2009 and with each one, Bitcoin has demonstrated various reactions to the event. The first halving took place on November 28, 2012, the second happened....