Ethereum price 'bear flag' could sink ETH to $2K after 20% decline in three w...
Analysts still expect Ethereum to hold its long-term bullish bias on bets that its highly-anticipated technical upgrade this year will be successful. Ethereum's native token Ether (ETH) has dropped by nearly 20% in the last three weeks, hitting monthly lows near $2,900 on April 19. But despite rebounding above $3,000 since, technicals suggest more downside is possible in the near term, according to a classic bearish pattern.Ethereum price 'bear flag' setup activatedDubbed "bear flag," the bearish continuation signal appears as the price consolidates higher inside an ascending parallel....
Related News
The bearish outlook appears against the backdrop of the Federal Reserve's tightening policies. Ethereum's native token Ether (ETH) will extend its 30% slump this year to the lowest price level since July 2021, if a textbook technical indicator plays out.Ethereum chart paints bearish patternETH's price fell to its six-month low of $2,159 on Jan. 24, 2022, only to rebound sharply to as high as $2,724 days later. However, this created a so-called "bear flag" chart pattern that suggests the price could drop to $2,000 or a 17% drop from current levels.A bear flag appears on the chart when the....
Ethereum risks dropping to $3,200 as its latest ETH price decline triggers a classic bearish setup. Ethereum's native token Ether (ETH) looks poised to extend its selloff this week as it wobbles near a key support level of $4,000.ETH price dropped by over 5.50% on Dec. 6 to an intraday low at $3,913. In doing so, it slipped through upward sloping support that constituted an Ascending Channel that — more or less — appears like a Bear Flag, a bearish continuation setup.ETH/USD daily price chart featuring Bear Flag setup. Source: TradingViewConservative traders typically spot Bear Flags when....
Ethereum is looking to fall towards $200 after breaking a multi-week support level this Monday. The price floor was a part of a Bear Flag pattern. In retrospect, Bear Flag appears as an asset consolidates in an upward channel following a robust directional move down. The price eventually breaks below the Channel’s lower trendline, a […]
Ethereum funds have been undergoing a modest recovery after witnessing 11 weeks of continuous outflows. Ethereum’s native token, Ether (ETH), is down nearly 40% against Bitcoin (BTC) since December 2021. But, even more pain is possible for the ETH/BTC pair in the coming weeks, based on a classic technical indicator.Ethereum price risks technical breakdownThe ETH/BTC chart has been forming a bear flag since early June 2022 on the three-day timeframe.In detail, bear flags are considered bearish continuation patterns that form as the price consolidates higher inside a range defined by two....
Dogecoin is performing pretty well these days despite pressures from the ongoing bear market. A quick recap: After months of negotiations and threats of lawsuits, Elon Musk finally bought Twitter. On October 27 he uploaded a video with the description “Let that sink in!” and showed himself holding a sink as he entered the social […]