The floppening? Ethereum price weakens post-Merge, risking 55% drop against B...
A classic bearish reversal pattern suggests pain ahead for the ETH/BTC pair despite Ethereum's milestone Merge event. Ethereum's native token Ether (ETH) has been forming an inverse-cup-and-handle pattern since May 2021 on the weekly chart, which hints at a potential decline against Bitcoin (BTC). ETH/BTC weekly price chart featuring inverse cup-and-handle breakdown setup. Source: TradingViewAn inverse cup-and-handle is a bearish reversal pattern, accompanied by lower trading volume. It typically resolves after the price breaks below its support level, followed by a fall toward the level....
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Like Bitcoin, Ethereum was pushing higher from last week’s lows, at least until the past few hours. In the span of about 30 minutes earlier today, the leading cryptocurrency dropped from $355 or so to $344, marking a small yet notable drop. This weakness and continued inability to surmount the resistances at $365-375 in the near term is sparking fears of a deeper drop. Ethereum Drop Triggers Fears of a Steeper Correction Michael Van De […]
Before the Ethereum merge event, some experts and investors predicted a fall in the price of Ethereum and hence traded cautiously. Popular analysts referred to the merge hype as a buy the rumor, sell the news scenario. The Feds reserves tightening and other market factors added to the volatility recorded in the valuations of ETH, BTC, and other Altcoins. After the merge event, analysts’ predictions proved right as the ETH price crashed below the support level. As a result, several ETH investments got withdrawn, and a few additions were recorded after the merge. Related Reading: ETH....
The crypto market has been filled with so much volatility in the past months. Bitcoin price barely gained a 1% increase to the $20,373 mark; Ethereum and other altcoins prices are still in the dump. Crypto community members and experts predict a further slump come October. Amidst the market highs and lows, the industry is set to record three significant events this week. Perhaps, the market will experience more volatility in the coming months, considering the happenings in the industry in the previous months. Related Reading: Here’s Where Investors Expect Cardano (ADA) Price To Be At The....
We’re in a post-merge world. And the SEC is looking at Ethereum once again after the substantial changes it recently went through. Word on the street is that Chairman Gary Gensler, speaking post-merge for the first time, insinuated Ethereum could now be a security. What did Gensler say, exactly? What is a security? Is the […]
We’re in a post-merge world, and the lessons keep arriving. As it turns out, the mythical Merge was a sell-the-news event for Ethereum. Technically, the event was a success and Ethereum kept a 100% uptime as optimistically predicted. Economically, the asset has been bleeding for the whole post-merge season. As a result, Ethereum lost ground against bitcoin, and bitcoin dominance is back up. Related Reading: Ethereum Price Is Declining Following The Merge, Vital Trading Levels To Follow Let’s go to Arcane Research’s The Weekly Update for the exact stats and numbers: “Since the merge, Ether....