Pattern Shows Ethereum Could Be Ready to Surge Despite Pullback
Ethereum could be on the cusp of seeing a strong push higher in the near-term despite its recent weakness. Over the past 24-hours, the cryptocurrency has seen some intense weakness, with the lack of intense buying pressure at $400 opening the gates for intense downside after Bitcoin saw a sharp selloff. ETH is now showing […]
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Ethereum price might be ready to resume its drop to its previous lows or much lower after correcting to an area of interest. Ethereum price had been moving inside a range between resistance near 0.00230 and support at 0.00215 before breaking to the downside. Price dipped to a low of 0.00205 before showing signs of a pullback. Using the Fibonacci retracement tool on the latest swing high and low shows that the 50% level lines up with the broken support, which might now hold as resistance. Ethereum price might be ready to resume its drop to its previous lows or much lower after correcting to....
Ethereum Price Key Highlights. Ethereum price made a strong break below a consolidation pattern and showed follow-through with its selloff to new record lows. Profit-taking seems to be taking place, opening the possibility of a correction to nearby resistance levels. Ethereum price appears to be bouncing off its recent lows and might be ready for a quick correction to Fibonacci levels. Potential pullback points. Using the Fibonacci retracement tool on the latest swing high and low on the 1-hour time frame shows that the pair is closing in on the 38.2% level, which might hold as resistance....
Ethereum Price Key Highlights. Upon breaking below the bottom of the rising wedge consolidation pattern recently, ethereum price has its sights set on new lows. Technical indicators suggest that the selloff is gaining traction but that a pullback to the broken support zones might still be possible. Ethereum price is eyeing further downside and might be ready to test the yearly lows as seen on the 4-hour time frame. Bearish Pressure Rising. Bitcoin price has broken to the upside of its consolidation pattern, which may have been partly to blame for the downside break in ETHXBT. The chart....
Ethereum could undergo a stronger drop in the days ahead, analysts say, as the cryptocurrency slides below key support levels. Ethereum Loses Key Support Level on a Short-Term Basis: Analysis A crypto-asset analyst shared the chart below just recently, showing how the coin has moved below a rising wedge pattern. It is still in a decent spot on a weekly time frame though may face an intra-day pullback, the chart suggests. “$ETH $ETHUSD #Ethereum – […]
Ethereum had seen some uptrend that had sent the price up at the start of the week, finally breaking above $3,000 once more. However, the digital asset has had a hard time maintaining this position in what it showing to be a ‘takeout.’ Raoul Pal, CEO, and co-founder of Real Vision, recently presented his analysis on the digital asset, explaining when and how a breakout might occur. Where Is Ethereum Headed? Taking a look at the inverse head and shoulders pattern that began forming on Tuesday, Pal points to this pattern which was still confirming but still showed some indicators for the....