Ethereum (ETH) Continues To Lose Luster, Drops Below $1,100 Support
Ethereum (ETH) emerged as the best-performing cryptocurrency last week, with a 10 percent increase. Moreover, it was stated that the recently constructed ascending trendline for the cryptocurrency should boost ETH higher if market conditions were truly optimistic. The ETH price exhibited early signs of weakness as the decentralized smart contract token failed to soar over the steep trendline. On Tuesday, a new negative thesis predicted that the $1,122 level will be breached with objectives in the vicinity of $1,000. Wednesday’s cryptocurrency price analysis is bleak, as market....
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Ethereum could undergo a stronger drop in the days ahead, analysts say, as the cryptocurrency slides below key support levels. Ethereum Loses Key Support Level on a Short-Term Basis: Analysis A crypto-asset analyst shared the chart below just recently, showing how the coin has moved below a rising wedge pattern. It is still in a decent spot on a weekly time frame though may face an intra-day pullback, the chart suggests. “$ETH $ETHUSD #Ethereum – […]
Uniswap price is consistently travelling southward on the one-day chart. UNI’s bulls have not been able to break past its immediate support, causing traders to lose confidence. Over the last 24 hours, Uniswap lost 4% of its value. In the past week, UNI surged 4% on the one-day chart. The technical outlook of UNI remained mixed with some signals pointing toward the bears taking over the market. The coin’s current support zone was between $5.60 and $5.00, respectively. The bulls have constantly attempted to break past the $5.94 level. This has caused buyers to leave the market as....
Ethereum has now lost its hold on an important level. This decline follows that of bitcoin which has now fallen below $20,000. However, for Ethereum, the fight continues to hold on to the one point where bulls still see some hope. However, with the way the market is moving, it may not be long before Ethereum is testing the critical $1,000 support level. Ethereum Falls Below $1,100 For Ethereum, holding above $1,100 for the past week had meant that there was still hope for a good run-up that could see it retest the $1,500 resistance. But this would only last just a little above $1,200....