Ethereum Defends Pivotal Technical Level Despite Yesterday’s Drop
Ethereum and Bitcoin underwent a strong drop the other day after days of consolidation. Ethereum slipped from the $590 region to lows around $550, marking a strong decline for the cryptocurrency that had benefited so much from the ETH2 launch. Ethereum was falling alongside BTC. The market was seemingly dropping as a result of the […]
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Chainlink has plunged since setting highers in August. The coin now trades at around $8.50 as of this article’s writing, far below the all-time highs set at $20. The cryptocurrency’s correction comes after leading altcoins underwent a strong plunge after Ethereum fell through key supports. Chainlink could be vulnerable to an even deeper drop as the crypto approaches pivotal technical levels. One trader noted that if LINK will bounce, it will find some support around […]
Ethereum price traded further down and broke yesterday’s low. Can losses extend or ETH/USD could manage to correct higher in the short term? Ethereum price ETH was under a lot of bearish pressure intraday against the US Dollar, and my suggested idea of selling near the 100 hourly simple moving average worked well. The target of $10.40 was achieved, and the price event broke the swing low of $10.00 to form a new low of $9.89. The price is currently consolidating in a tiny range and facing sellers near the 23.6% Fib retracement level of the last drop from the $11.65 high to $9.89 low. There....
Ethereum has undergone a 6% drop over the past 24 hours in the face of the stock drop. The Dow Jones is down 3% during Monday’s trading session. Analysts think ETH could bounce, though, as the coin has recovered to $390. One analyst noted that the coin is now trading above the pivotal swing level at $390. Ethereum holding above that level is expected to trigger a recovery towards the $422 weekly highs as aforementioned. […]
Ethereum price declined during the past 24 hours against the US Dollar. Can this be the last decline before a reversal? Key Highlights. ETH price fell further against the US Dollar and formed a new low of $11.14 for this week. Yesterday’s highlighted resistance area in the form of a channel pattern on the hourly chart (data feed via SimpleFX) of ETH/USD acted as a perfect resistance. The pair remains below a crucial resistance, which can be a hurdle for a recovery. Ethereum Price Resistance. Ethereum price struggle to clear the $11.50-60 resistance area continued this week. My yesterday’s....
Bitcoin has entered no man’s land as it fails to pass $11,000 but is holding the low-$10,000s. The coin now trades at $10,900 as of this article’s writing, again below the aoforementioned support. Bitcoin actually may be in a positive spot, though, as it managed to hold a pivotal technical level of macro importance. Bitcoin Holds Pivotal Macro Support Level To some market participants, Bitcoin’s price action over recent weeks has been purely bearish. After […]