Ethereum on-chain data hints at further downside for ETH price
An assortment of on-chain and derivatives data signal that ETH price is unlikely to rally above $3,500 any time soon. Analyzing Ether's (ETH) current price chart paints a bearish picture, which is largely justified by the 11% drop over the past month, but other traditional finance assets faced more extreme price corrections in the same period. The Invesco China Technology ETF (CQQ) is down 31% and the Russell 2000 declined by 8%.Ether price at FTX, in USD. Source: TradingViewCurrently, traders fear that losing the descending channel support at $2,850 could lead to a stronger price....
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Ethereum price weakened this past week versus the US dollar, and currently waiting for ETH/USD buyers to step in for a recovery. Key Highlights. Ethereum price traded lower against the US Dollar this past week, but remained above a major support. There is a crucial bullish trend line formed on the 4-hours chart of ETH/USD (data feed via SimpleFX), which is acting as a support area. As long as the price is above the trend line support, there is a chance of an upside move. Ethereum Price Correction. Ethereum price ETH was seen struggling throughout this past week against the US Dollar and....
Ethereum price was under a lot of bearish pressure against the US dollar, and currently the bulls are fighting around a major support. Key Highlights. Ethereum price declined heavily versus the US Dollar, but currently trading near a crucial support. There is a critical bullish trend line formed on the daily chart of ETH/USD (data feed via SimpleFX), which may stop the downside going forward. The 100-day simple moving average is also on the downside to act as a support area. Ethereum Price Trend. Ethereum price ETH after staying above the $13.00 level against the US Dollar for some time,....
Ethereum price may continue to find bids on the downside versus the US Dollar, as long as it is above the $10.80 support area. Key Highlights. Ethereum price after a minor downside move this past week against the US Dollar recovered. There is a monster contracting triangle formed on the daily chart of the ETH/USD pair (data feed via SimpleFX), which is providing support. The price may move higher in the coming days and test the upper triangle resistance. Ethereum Price Range. Ethereum price ETH was seen trading lower this past week against the US Dollar, as ETH/USD remained under a bearish....
Ethereum price once again traded lower against the US Dollar, but somehow buyers managed to protect the downside near a major support. Key Highlights. ETH price continued to rise and dip against the US Dollar, but remains supported on the downside. This week’s highlighted bullish trend line on the hourly chart (data feed via SimpleFX) of ETH/USD once again acted as a support. The ETH bulls are fighting hard to prevent the downside move around the trend line. Ethereum Price Support. Ethereum price after trading a few points higher against the US Dollar found resistance and traded down. The....