Flash Crash, Ethereum Tests Support With 17% Drop And Risks Further Losses
After leading the crypto market rally for several weeks, Ethereum faces the return of the bears. The second cryptocurrency by market cap was pushing into the $4,000 resistance before a selloff sent it back to critical support. At the time of writing, ETH trades at $3,466 with an 11.6% loss in the daily chart. Ethereum bounces back from the low of its current levels. Some exchange platforms briefly recorded $3,100 for the cryptocurrency, but the recovery could face hurdles. As the market crashed, there were over $2,3 billion in liquidations recorded across exchange platforms. Bitcoin and....
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Today’s Ethereum price chart may suggest the formation of a bearish pattern called the “double top”. 100k ETH also flowed into Binance. Ethereum Price Chart Shows Famous “Double Top” Bearish Formation As explained by a CryptoQuant post, the cryptocurrency formed a bearish pattern on the price chart earlier today, and at about the same time, Binance also noticed a netflow of around 100k ETH. Here is a Ethereum chart that clearly shows the bearish pattern: ETH's price chart showed a bearish formation earlier today | Source: CryptoQuant As the above chart....
Margin traders on Kraken are outraged after a flash-crash triggered wholesale liquidations while the exchange was inaccessible to users. Kraken users are demanding compensation after violent flash crashes localized to the exchange resulted in leveraged trades being liquidated amid the sharp retracements recorded across the crypto markets on Feb. 22.Feb. 22 saw the single largest daily candle in the history of both Bitcoin and Ethereum by linear value, with BTC dropping around $9,500 from $57,500, while ETH plummeted by $400 from $1,940 within the span of 24 hours on Coinbase. However, it....
Ethereum has seen some optimistic price predictions this year. While a lot of analysts have erred on the conservative side, others have gone the route of being overly optimistic. With some putting the price of the altcoin at $20,000, like in the case of Real Vision founder Raoul Pal. But none have gone as high as where the British banking giant puts the price of the asset. There has been widespread sentiment in the market regarding the potential of Ethereum to overtake Bitcoin at some point, and it looks like institutions believe this too. Last month, deVere CEO Nigel Green said in a....
The flash crash that occurred last week shoot the crypto market. Top coins Bitcoin and Ethereum were down with the crash. And so was meme coin Dogecoin. Dogecoin, like most other coins, had spent the past month recovery from two-month lows when the crash had hit. Doge recorded losses of up to 18% with the […]
Cardano (ADA) has not been left out of the massive flash crash that just occurred throughout the market. What seemed to be a good day for bitcoin as El Salvador’s “Bitcoin Day” began has now turned to nothing short of a nightmarish market opening. The crash saw bitcoin drop $6K in only a matter of hours. While the general altcoin markets have recorded crashes as high as over 20% in the same timeframe. With altcoins following bitcoin closely, the price of the ADA shows similar movement patterns to BTC following the flash crash. The number 1 crypto coin fell to the mid-$40K, taking the whole....