Ethereum price risks a drop below $1K if these key price metrics turn bearish
Two key Ethereum price metrics have yet to turn bearish, but it won’t take much to trigger an ETH drop below $1,000. Ether (ETH) price is down 37.5% in the last seven days and recent news reported that developers decided to postpone the network's migration to a proof-of-stake (PoS) consensus. This upgrade is expected to end the dependency on proof-of-work (PoW) mining and the Merge scalability solution that has been pursued for the past six years.Competing smart contracts like BNB, Cardano (ADA) and Solana (SOL) outperformed Ether by 13% to 17% since June 8 even though there was a....
Related News
Since Bitcoin’s price began to drop after its recent surge to a new all-time high on December 17, several key metrics have been demonstrating bearish movement, sparking uncertainty about BTC’s prospects in the short term. A persistent decline in crucial metrics might lead to a larger drop in BTC’s price to previous support levels. Coinbase […]
OK Polkadot (DOT) – which is seen to be on a winning streak in terms of social media metrics and development activity – has been on a retreat recently. DOT social media metrics nosedives Polkadot’s decline in developer activity could leave a bad taste in the mouth of investors DOT’s NFT volume off to as high as 1.64 million on September 24 Is this sudden drop in both metrics just a temporary hiccup or could be a warning signal to investors? Judging by the chart below, DOT price was seen to have nosedived in terms of development activity in the past few days. It’s surprising....
Today’s Ethereum price chart may suggest the formation of a bearish pattern called the “double top”. 100k ETH also flowed into Binance. Ethereum Price Chart Shows Famous “Double Top” Bearish Formation As explained by a CryptoQuant post, the cryptocurrency formed a bearish pattern on the price chart earlier today, and at about the same time, Binance also noticed a netflow of around 100k ETH. Here is a Ethereum chart that clearly shows the bearish pattern: ETH's price chart showed a bearish formation earlier today | Source: CryptoQuant As the above chart....
Ethereum risks dropping to $3,200 as its latest ETH price decline triggers a classic bearish setup. Ethereum's native token Ether (ETH) looks poised to extend its selloff this week as it wobbles near a key support level of $4,000.ETH price dropped by over 5.50% on Dec. 6 to an intraday low at $3,913. In doing so, it slipped through upward sloping support that constituted an Ascending Channel that — more or less — appears like a Bear Flag, a bearish continuation setup.ETH/USD daily price chart featuring Bear Flag setup. Source: TradingViewConservative traders typically spot Bear Flags when....
Crypto analyst Tony Severino has warned that the Bitcoin price risks a further crash. This came as he revealed a critical technical indicator, which has turned bearish for the flagship crypto, although he noted that BTC bulls can still invalidate this current bearish setup. Bitcoin Price At Risk Of Further Crash As S&P Monthly LMACD Turns Bearish In an X post, Severino indicated that the Bitcoin price could crash further as the S&P 500 monthly LMACD has begun to cross bearish and the histogram has turned red. This development is significant as IntoTheBlock data shows that BTC and the....