Ethereum risks crashing under $2K as ETH paints bearish ‘symmetrical triangle...
The downside outlook appears as Ethereum billionaire addresses continue accumulating ETH supply. Ethereum's native token, Ether (ETH), will likely fall below $2,000, according to one popular market analyst.Ether paints a classic bearish continuation setupPseudonymous market analyst Wolf shared the downside outlook on March 7 as Ether's price rebounded by over 3% to nearly $2,650, a day after testing its upward sloping trendline near $2,500. Ignoring the intraday upside reversal, Wolf anticipated Ether's decline to continue further.ETH/USD daily price chart. Source: TradingViewAt the core....
Related News
Ether now retests a critical resistance range for a potential pullback towards $1,800. It took Ethereum's native token Ether (ETH) only two months to recover from a brutal selloff at the beginning of 2022.ETH price breaks out but risks remainETH price reached near $3,350 on March 28 after rallying by over 30% in just two weeks, and by more than 50% when measured from its year-to-date low of around $2,160, established Jan. 24. In doing so, the ETH/USD pair may have also "busted" what earlier appeared to be a bearish continuation setup, called the "symmetrical triangle."ETH/USD daily price....
COIN stock can rally to $160 by the end of the year, a mix of technical and fundamental indicators suggest. Coinbase stock (COIN) price has nearly doubled since its June lows with a potential for much more upside this year, according to a mix of technical and fundamental indicators.COIN's symmetrical triangle reversalCOIN has been undergoing a strong bullish reversal after falling by almost 90% from its record high of $368.90 in November 2021.Coinbase stock price was up over 95% to $75.27 as of July 20's close when measured from its May 12 local bottom of $40.83. Its recovery led to a....
THORChain reveals plans to launch Terra's UST-like native stablecoin and "Thorfi." THORChain (RUNE) could continue its upward momentum in the coming weeks even as it treads inside a classic bearish reversal structure.RUNE's price has rebounded strongly by over 165% four weeks after testing its multi-month horizontal level support near $3.15. What's more, its upside retracement has opened up possibilities about an extended bull run toward $11.50, about 45% above the current price level near $7.89, as shown in the chart below.RUNE/USD weekly price chart featuring descending triangle setup.....
Bitcoin price is moving inside a symmetrical triangle consolidation pattern and is hovering around the top of the formation. The 100 SMA is below the longer-term 200 SMA so the path of least resistance is to the downside, confirming that the resistance might hold. In addition, the moving averages line up with the top of the triangle, adding to its strength as a ceiling for bitcoin price rallies. Stochastic is indicating overbought conditions and is turning lower, suggesting that bearish pressure could come back in play. A bit of bearish divergence can be seen, as bitcoin price made lower....
Bitcoin price just bounced off the bottom of its long-term symmetrical triangle on the daily time frame and might be due for a test of resistance. Any strong breakout in either direction for bitcoin price could set the tone for its longer-term trends for the rest of the year so keep close tabs on this triangle formation. Bitcoin price has been tossing and turning on the short-term time frames, as risk sentiment keeps shifting. On the longer-term chart such as the daily time frame, a consolidation pattern can be seen. Bitcoin price formed higher lows and lower highs since November last....