Ethereum Drops Nearly 5% As Familiar Leverage Setup Plays Out
Data shows the Ethereum Open Interest observed a sharp jump before the cryptocurrency’s price saw a decline of almost 5% over the past day. Ethereum Has Seen Bearish Price Action Over The Last 24 Hours This week saw some recovery for Ethereum and the wider digital asset sector during its first three days, but Thursday has brought with it a shift as the market as a whole has retraced. Related Reading: Dogecoin Bollinger Bands Tighten—Big Move Brewing? Ethereum had managed to recover above $2,150, but following this decline, its price is back near $2,000. In terms of the 24-hour....
Related News
Ethereum has officially entered a new phase after breaking its previous all-time highs and pushing into uncharted territory. The recent surge carried ETH to $4,886, yet the rally stopped short of the much-anticipated $5,000 milestone. While bulls continue to show resilience, the market now faces a pivotal moment. Analysts are divided: some expect Ethereum to continue its upward march into price discovery, while others warn that the market could be preparing for a deeper correction. Related Reading: Ethereum Open Interest Jumps 10% As $3.18B In New Positions Flood In This uncertainty comes....
Well, as expected, ethereum has turned up, though it was bit sooner than I had been expecting. But this is hardly reason to complain. :) Still, the rather dramatic rise led me to want to take a closer look at ethereum’s chart, so I drilled down a bit deeper and opened a 4-hour chart. (If you recall, up to this point we have looked at the daily and the 8-hour charts.) Here is a bear setup from the high, using the high of the retracement to size my setup. As you can see, pricetime hugged the setup all the way to the low where it bounced off 3rd arc support. At that point it looks like we....
Ethereum slipped over the past two days as on-chain trackers flagged another burst of selling tied to Vitalik Buterin’s wallets, reviving a familiar narrative for traders: founder-linked distribution showing up alongside spot weakness. Ethereum Pullback Coincides With Fresh Vitalik Sales Lookonchain said Buterin has sold 1,869 ETH (about $3.67 million) over the past two days, […]
Bitcoin rose dramatically in the past few days, pushing past several barriers until it got to the 4th arc on this setup on the daily chart: As you can see, it was this same arc pair that stopped the last major advance in early January of this year. This setup is sized from the start of the current rally in August 2015 and the spike top 3 months later at almost $500. You really can’t make a bigger useful setup from this chart. The question that always arises is: “Will it get through the arc quickly this time?” Regretfully, there aren’t many clues on the chart. It does not bode well that the....
The Dogecoin price is once again in the spotlight, as new reports show it mirroring a familiar chart pattern that has historically preceded major breakouts. Analysts have identified this recurring setup, raising speculation that another upward move could be on the horizon for the popular meme coin. Dogecoin Price Mirrors Historic Breakout Setup A Pseudonymous […]