Oh where, oh where have Ethereum bulls gone? Sub-$4K ETH fails to entice traders
It seems the low funding rate on ETH futures contracts and the recent 96% rally are not enough to convince traders to buy the Ethereum price dip. Cryptocurrency price corrected sharply today, including Ether (ETH), but this is a short-term move which is not reflective of the more macro-level events which still paint a bullish picture for assets like Ether and Bitcoin. In the last 30 days, Ether price gained 96%, moving from $2,138 to $4,200 on May 11. Normally the assumption would be that every trader is consumed with euphoria and this would be seen in the funding rate reaching record....
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Ethereum recovered 4% and it climbed above the $350 pivot against the US Dollar. ETH price could still trim gains if it fails to clear the main $355 resistance zone. Ethereum started a decent recovery wave above the $345 and $350 resistance levels. The price is now well above the 100 hourly simple moving average, […]
Ethereum (ETH) is down 20% in the last week and triggering a negative sentiment in the market. Ethereum stalls and fails to make a comeback in the last week ETH flunks at reclaiming $2,000 level Ethereum RSI indicates a bearish stance Additionally, Ethereum also didn’t make it to the $2,000 mark. The bears are trying to yank ETH price down and pin down the bulls. Only the daily chart, there is a formation of a rising wedge pattern indicating that a bearish movement could drag on. The bulls are looking to stave off a decline shooting below the $1,700-$1,800 levels.....
Ethereum has seen some weak price action as it fails to surpass the resistance zone from $470 to $490. Analysts suggest that the cryptocurrency should reclaim the $470 support to confirm more upside. There are “monstrous sell walls” on Coinbase’s ETH market that could limit upside moving forward. It also appears that there are a large number of traders on Huobi that are expecting Ethereum to move lower moving forward. Ethereum Must Secure $470 to […]
Ethereum has finally crossed over the downward sloping resistance line, albeit on a low volume, which fails to induce any confidence in the breakout. As can be seen from the 2-hour ETH-XBT price chart taken from Kraken exchange, there is no visible surge in volume reading even after the resistance has been taken out. A major contribution in ETH/XBT price rise is the sudden collapse in Bitcoin price. A free falling Bitcoin will aid this pair. Ethereum is currently trading at 0.00240BTC. The technical picture suggests that Ethereum will face significant selling pressure 0.00283BTC even if....
Traders are showing signs of becoming long-term investors already, anticipating that the Ethereum price could hit $2,000 in the coming sessions.