Ethereum Dead Cat Bounce Puts Price At $3,400, But What’s The Ultimate Target?
Ethereum is still struggling after the initial market crash on October 10 that rocked the market. The subsequent market declines have pushed the largest altcoin by market cap toward $3,000, breaking below it for the first time at the start of the week. With the price looking to find support, there is the possibility of a dead count bounce happening that could see the price rise by more than 10%. However, with a dead count bounce being ultimately bearish, the target remains much lower. Why Ethereum Could Be Headed Lower Crypto analyst TradingShot, in a recent analysis, outlined how the....
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The crypto market is reeling once again after an intense wave of liquidations erased over $2 billion in leveraged positions within a single day. Related Reading: Ethereum Dead Cat Bounce Puts Price At $3,400, But What’s The Ultimate Target? With Bitcoin, Ethereum, Solana, and other major assets plunging sharply, traders are bracing for what could be another turbulent stretch, especially with billions in options set to expire. ETH's price trends to the downside on the daily chart. Source: ETHUSD on Tradingview Massive Liquidations Trigger Steep Sell-Off According to data from Coinglass,....
XRP has been hit by one of its most aggressive sell waves this year, with on-chain data revealing that major whale wallets offloaded nearly 200 million XRP, roughly $400 million, within just 48 hours. Related Reading: Ethereum Dead Cat Bounce Puts Price At $3,400, But What’s The Ultimate Target? According to Santiment analytics, wallets holding between one million and ten million tokens were the primary contributors, adding significant sell-side liquidity to an already fragile market. This sudden influx of supply arrived at a time when XRP was already battling bearish sentiment across the....
Bitcoin has jumped more than 10% in the last 24 hours as the coin’s price reaches $47.5k. Past pattern may shed light on whether this is just a dead cat bounce or a lead up to a real move up. Bitcoin Netflows Of Past Dead Cat Bounces Compared As pointed out by a CryptoQuant post, a look at the BTC netflows of the past cycles may reveal the pattern that dead cat bounces have followed historically. The Bitcoin exchange “netflow” is an indicator that’s defined as the difference between the inflow and the outflow. When exchanges observe higher inflows compared to the....
Bitcoin is forming a textbook downside continuation structure called Bearish Pennant whose ultimate breakout target lurks near $16,000. Bitcoin (BTC) has rebounded by more than 25% after bottoming out at $30,000 during the May 19 crash. But the cryptocurrency continues to tread ahead under the possibility of facing another period of strong sell-offs owing to a classic technical indicator pattern.Bitcoin price in a 'Bearish Pennant' Dubbed as Bearish Pennant, the pattern forms when an asset consolidates after a strong move downward and forms a small symmetrical triangle-like price range. It....
Here’s what futures market data could suggest about whether this latest Bitcoin recovery will be a dead-cat bounce or not. Bitcoin Futures Market Shows No Signs Of Overheating So Far As explained by an analyst in a CryptoQuant Quicktake post, the BTC funding rate has stabilized around a relatively low value recently. The “funding rate” […]