3 reasons why Ethereum may underperform Bitcoin in the short-term
Ether could take longer than 12 months to regain ground versus Bitcoin due to increased uncertainties surrounding the shift to ETH 2.0 and reservations from institutional investors. Ether (ETH) price outperformed Bitcoin (BTC) by 173% from March 28 to May 15. The incredible bull caused the token to reach a $4,380 all-time high. However, as cryptocurrency markets initiated a sharp drop on May 12, the trend started to reverse, and since then, Ether has underperformed by 25%.Some might say it is a technical adjustment after a strong rally. While this partially explains the move, it excludes....
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Ethereum has dropped in tandem with Bitcoin over the past few days. The leading cryptocurrency fell as low as $330 while BTC slipped to $10,400. While Ethereum has since recovered from those lows to $345, the coin is expected to resume its move lower. Analysts currently see the cryptocurrency moving towards the $300 region. While this short-term drop is expected, investors are optimistic because Ethereum is forming a medium-term falling wedge. A falling wedge is […]
Ethereum has continued seeing lackluster price action while Bitcoin rallies past its critical short-term resistance The crypto is on the cusp of flipping its $390 resistance, however, which could give it freedom to rally significantly higher in the short-term One trader is now noting that a surge up towards $432 could be in the cards if ETH can break above its short-term resistance level This would be a significant rally that potentially puts a firm […]
As regular readers of this column will realize, we have been discussing the $1020-1030 area for several weeks as a likely place to see a possible trading opportunity on the short side. Well, we are now there. Bitcoin price hit the top of the 5th square on a shorter-term setup on the daily chart. There are many reasons to justify going short here, but I tell you honestly, I just can’t bring myself to do it yet. For reasons visible on a 2-hour chart (not shown) I will consider shorting when/if we get a close below $1000. In the meantime, I closed my long position already. If we get a....
A short-term downward trend is underway on Ethereum’s market. Will that movement continue into the medium term? For how long will the price keep falling? After failing to fortify at a critical level, Ethereum’s price had just one option - to continue going down. But that movement can’t yet be classified as medium-term. The $7.6 mark has become a new intermediate level. If Ethereum’s price holds at that resistance and forms a turn, the short-term downward trend is going to end and there will be an upward rebound toward the medium-term trend. Ethereum (ETH) price chart If a turn doesn’t....
Ethereum’s short-term market structure has been flashing some signs of weakness as of late Although the cryptocurrency has mainly been consolidating and has lacked directionality, there is currently significant uncertainty within the entire crypto market This could continue perpetuating investor fear, potentially causing assets like ETH to see further downside in the days and weeks ahead One trader is particularly watching for another $300 test for the cryptocurrency, noting that although its short-term outlook is […]