TA: Ethereum Tops Near $2,400, Indicators Point Another Bearish Wave

TA: Ethereum Tops Near $2,400, Indicators Point Another Bearish Wave

Ethereum started a fresh decline after it failed to surpass $2,400 against the US Dollar. ETH price could decline further if it fails to stay above the $2,250 support. Ethereum is slowly moving lower below the $2,300 support zone. The price is now trading below the $2,280 support and the 100 hourly simple moving average. […]


Related News

Bitcoin Elliott Wave Theory suggests BTC price can drop to $25.5K this year

The bearish outlook by the Elliot Wave Theory appeared as Bitcoin tumbled below $35,000. The ongoing Bitcoin (BTC) price correction could continue as per almost a century-old technical analysis principle called "Elliott Wave Theory."The interim bearish outlook put forth by the Elliot Wave Theory appeared as Bitcoin tumbled below $35,000 amid the Russia-Ukraine conflict.Bitcoin wave fractal eyes repetitionThe theory, which divides a price cycle into two sets—one consisting of five upward-trending impulse waves and the other having three follow-up corrective waves—points to the possibility....

Bitcoin, Ethereum Show More Potential For Downside Despite Recent Bounce – An...

A prominent cryptocurrency analyst, Bluntz, has expressed skepticism about the recent uptrend that increased Bitcoin and Ethereum prices by more than 5%. The pseudonymous analyst told his over 224,000 Twitter followers that the flagship crypto assets may face more downturns.  Applying the Elliott Wave theory in his analysis, Bluntz predicted that Ethereum is about to complete a five-wave pattern. According to him, Ethereum will decline to $1,450 on completing the wave pattern marked 1, 2, 3, 4, and 5. Bitcoin And Ether Could Face More Downturn Before A Bounce In Bluntz’s technical....

Bitcoin Price: More Sideways

Bitcoin price is consolidating above $425 and 2800 CNY. Although the 4-hour chart is, technically, turning bearish there is no well defined xbt.social sell signal in either the 4-hour or 1-hour chart. Based on the two grey trendlines defining upper and lower range boundaries, we may get a period of sideways movement – ranging between the bottom boundary and the resistance ceiling. The first wave down from the 8th January high was complex. A typical B-wave then set up the price drop and the last wave down is not as complex as the first wave down from the 8 January high. For this reason....

Ethereum price can hit $14K if the March 2020 chart fractal holds

One trader spotted the fractal, which employs three classic technical indicators to predict an upside trend for Ethereum. Ethereum's native asset Ether (ETH) faces prospects of closing above $14,000 sometime in 2021 based on its current trend's striking similarity with the one from last year.Ether price fractalFirst spotted by user TradingShot, the Ethereum fractal involves three technical indicators: a 50-day simple moving average (50-day SMA), a Fibonacci channel, and a relative strength index (RSI).Ether closed above its 50-day SMA in July 2021, the first time since the May 2021 bearish....

Ethereum Sports Bearish Signals As Crypto Market Shifts Back Into Fear

Ethereum has mostly mirrored bitcoin’s run in the recent rally. This has seen the digital asset break as high as $3,000 once again for the year. This point which has proved elusive for the cryptocurrency has continued to give it a hard time. In previous times, Ethereum has had a had time staying above this level. Such has been the case this time around as it fails to secure its spot above e$3K. Ethereum On The Decline Like all other cryptocurrencies, Ethereum is a highly volatile asset and as such is subject to wild fluctuations in its price. For the last few months, it has fluctuated but....