TA: Ethereum Nosedives, Why Bulls Could Struggle In Near Term
Ethereum started a fresh decline from well above $4,650 against the US Dollar. ETH could extend downsides if there is a clear break below $4,200. Ethereum started a fresh decline from the $4,700 and $4,750 resistance levels. The price is now trading below $4,500 and the 100 hourly simple moving average. There was a break below an ascending channel with support near $4,620 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend losses if the bears gain strength below $4,200 in the near term. Ethereum Price Extends Losses Ethereum faced a strong resistance near the....
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$9 billion in Ethereum was withdrawn from exchanges within the past three days, suggesting that whales might be accumulating. A Massive 2.2M ETH Exited Exchanges In The Last Three Days Alone As pointed out by a CryptoQuant post, on-chain data shows around $9 billion in Ethereum was taken off exchanges in the past few days. The indicator of relevance here is the “exchange reserve,” which measures the total amount of ETH present in exchange wallets. When this metric’s value goes down, it means investors are withdrawing their Ethereum from exchanges. Such a trend may be a....
Ethereum started a major decline from well above $4,000 against the US Dollar. ETH price is now correcting losses from $3,500, but it could struggle near $4,050 and $4,100. Ethereum topped near the $4,375 before staring a downside correction. The price declined heavily below $4,000 and the 100 hourly simple moving average. There was a […]
Ethereum price recovered against the US Dollar intraday, but it remains at a risk of more losses as long as it is below the 100 hourly SMA. Key Highlights. Ethereum price managed to correct a few points against the US dollar and traded above the $10.00 level. There is a bearish trend line formed on the hourly chart (data feed via Kraken) of ETH/USD, which is acting as a resistance for an upside move. The price may continue to struggle in the short term as long as it is below the trend line resistance. Ethereum Price Sell? Yesterday, I highlighted a couple of trend lines and resistances,....
Ethereum has been closing between $2,650 and $2,750 for the past week, creating uncertainty in the short term as bulls struggle to reclaim higher levels. ETH is trading at crucial demand zones, facing sustained selling pressure that has kept it below the $2,800 mark. Investors are trying to stay calm amid the volatility, but fear […]
Bitcoin has seen some choppy price action throughout the past day, with its price mainly consolidating within the lower-$15,000 region as bulls and bears struggle to gain control of its near-term outlook. Where it trends in the near-term will likely depend on whether or not it can continue trading above $15,000. This has been a […]