Here's why pro traders expect further downside from Ethereum price
Ethereum's EIP-1559 upgrade is fast approaching, but derivatives data shows traders are less than optimistic about ETH's short-term prospects. Derivatives data shows that Ether (ETH) traders are feeling less bullish when compared to Bitcoin (BTC). Even though the altcoin captured a nearly 200% gain in the first half of 2021 versus Bitcoin's modest 22% price increase, traders seem to be more affected by Ether's recent underperformance.Institutional flow also backs the decreased optimism seen in Ether derivatives, as ETH investment vehicles suffered record outflows this past week while....
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ETH traders hint that the bull market could be back after Ethereum price hit $3,000 for the first time in 79 days. This week Ethereum's London hardfork was completed without a hiccup and investors have now reset their eyes on new highs above $3,100.Data from Cointelegraph Markets Pro and TradingView shows that the price of Ether (ETH) did in fact experience a “sell the news” sell-off shortly after London went live but dip buyers quickly rushed in and pushed its price back above $2,800, its highest level since June 7. This bullish momentum extended further after Bitcoin price surged above....
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,....
Jungle Bitcoin Price Analysis Workshop. The Bitcoin price decline has resumed after bulls staged a weak rally to levels around $450. Last week's Bitcoin analysis forecast a retracement to the $450 area and, like clockwork, early Monday trade is showing signs of pushing to our interim target at $400 and perhaps lower. However, the price decline is about to run up against rising channel support. Takeaway. Pattern analysis shows that trend is still heading to the downside. While keeping an eye on continued risk of decline, traders and investors should focus on systematically building their....
According to an independent market analyst, altcoin holders face the risk of facing twice more losses if the Bitcoin price corrects by another 30%. Altcoin traders and investors should look for cover if Bitcoin (BTC) undergoes major price declines.So believes Filbfilb, an independent market analyst and co-founder of Decentrader trading suite. In a tweet published late Friday, the pseudonymous entity said a 30% crash in the Bitcoin market could prompt altcoins to drop twice as harder.When Bitcoin consolidated between $50,000 and $60,000 in the March-May period, altcoins exploded. Similarly,....