Analysts Think Ethereum’s Bull Trend is “Just Getting Started” Despite Selloff
Ethereum has plunged today despite the strength seen by Bitcoin ETH’s ongoing descent has sent shockwaves throughout the market, creating a tailwind that has adversely impacted most other altcoins This intense selling pressure isn’t showing any signs of letting up today, but it is important to note that there’s still a chance that an upside movement is brewing One analyst is pointing to ETH’s Renko chart with a Guppy indicator, noting that it appears to […]
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Ethereum’s price has been lagging far behind Bitcoin’s as of late, which has caused immense concern amongst traders and investors alike This stagnant price action has put an end to any prospects of an imminent “altseason,” and may continue causing altcoins to bleed out One trader believes that its failure to see any immense bullishness despite Bitcoin’s strength and yesterday’s ETH 2.0 rollout is a concerning trend He notes that this trend is putting Ethereum […]
Ethereum’s price is at a peak of the structure which will be decisive for the further trend. Which direction will Ethereum’s price choose? Will there be a turn to decline? Ethereum’s price is at a peak of a rebound towards the upward trend. That is also a turning point for the continuation of the medium-term downward trend. The way the price behaves in the near future will determine the outcome. If Ethereum’s price manages to fortify at that level, it will indicate that the bulls are a minority. In that case, and if the price forms a turnaround structure, the downward trend will be likely....
The downward trend on Ethereum’s market has lead the price to an important medium-term resistance. The trend is most likely to change at that point. Is the current trend nearing its end? Ethereum’s price has stopped at a long-term level, which already indicates that there are a number bulls out there. But whether the nature of those purchases is long-term or short-term will only become clear after analyzing the further structure of Ethereum’s price. For the formation of a short-term upward trend to begin, Ethereum’s price will have to fortify at the largest accumulated trading volume mark,....
Ethereum has been caught in the throes of an intense bull trend throughout the past few days and weeks, which has helped erase its trend of underperformance Where the cryptocurrency trends in the days and weeks ahead will depend largely on Bitcoin and whether or not it can remain stable in the mid-$18,000 region Each selloff faced by the benchmark crypto has been fleeting and followed by upside, which is a bullish trend One trader […]
Bitcoin price is now above $40,000, up more than 20% from the lows set in late January. Despite the recovery, common sentiment across the crypto community, analysts, and more is that the bottom is nowhere near in. Meanwhile, BTCUSD has began its recent bounce from a seven year secular bull trend line. Could that fact combined how few are expecting a bottom be the best case for why one might already be in? Contrarian Take: Crypto Market Sentiment Would Be Blind To A Bottom In a flash, Bitcoin has risen back above $40,000 – still a far cry below the $100,000 end of year 2021 targets the....