Ethereum to See Further Losses as Crypto Market Becomes “Beyond Bearish”
Ethereum and the aggregated crypto market have been caught in the throes of a strong downtrend throughout the past 24-hours This has come about due to multiple macro developments, including news about President Trump’s health as well as the government’s decision to chart the BitMEX owners Despite the overt bearishness of these sellable news events, both Ethereum and Bitcoin are still sitting above their multi-week lows That being said, one analyst is expecting Ethereum to […]
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Ethereum has dropped lower over the past 24 hours after peaking just shy of $400. The cryptocurrency currently trades at $382 and is down a mere 0.5% in the past 24 hours. Despite the drop from the local highs, analysts remain bullish on the asset. One analyst says that he finds it hard “not to be bullish” as $360-370 holds. $360-370 has acted as an important horizontal level for the coin over recent weeks. Namely, […]
The macro market has been influencing the price of crypto to a much larger degree in the last couple of months compared to a year ago. This is no surprise given that some of these companies, which are heavily involved in the macro market, also extended their investments to cryptocurrencies such as Bitcoin. Hence, when the macro environment affected these companies, crypto was affected. Even now, the influence continues to maintain hold. Losses Flow To Crypto Over the last week, there have been some major happenings in regard to the economy. Fed Chair Jeremy Powell said that as the....
According to market analysts, the precious metal gold is officially in a bear market and prices could remain suppressed over the next few weeks. Moreover, while the macroeconomic backdrop has been gloomy, the popular safe haven asset has lost 17.50% in value against the U.S. dollar during the last four months. TD Securities Market Analysts Say Fed Hikes Could Erode Gold’s Price There’s no doubt that the cryptocurrency economy is experiencing a bearish downturn as some of the top digital currencies have lost anywhere between 65% to 90% in value. The well known safe haven and....
Ethereum started a sharp downside correction below $2,400 and $2,300 against the US Dollar. ETH price is correcting losses, but it is likely to face sellers near $2,300. Ethereum declined heavily from well above $2,400 and tested the $2,000 zone. The price is now trading well below $2,300 and the 100 hourly simple moving average. […]
Ethereum nosedived from the $370 resistance zone against the US Dollar. ETH price is currently correcting losses from $345, but it is likely to face sellers near $355. Ethereum is down over 3% from the $372 high and it even broke the $355 support. The price is currently recovering from the $345 low, but it […]