Ethereum price tumbles to $915, but traders are bullish for 4 key reasons
Ethereum price may have dropped by 34% in 24 hours, but multiple data points show traders are still bullish on Ether. The past week has been an emotional rollercoaster for Ether (ETH) traders, as there were seven four-hour candles of a 10% or larger price movement. Furthermore, the most recent 30% drop to $920 triggered $550 million in liquidations on long futures contracts. To complicate things even further, this current price correction is taking place just four weeks ahead of the launch of CME's ETH futures.ETH/USD 4-hour chart. Source: TradingViewIt’s possible that even the most....
Related News
A confluence of bullish fundamental and technical indicators sees Ethereum rallying upward towards $500 in the fourth quarter. The second-largest blockchain asset by market capitalization has rallied by more than 200 percent in 2020, with its price trading just shy of $490 in early September. Nevertheless, its uptrend paused as traders migrated to Bitcoin, the […]
Following Bitcoin’s bullish move, Ethereum price rallied to $447 and now traders anticipate an uptrend toward $500 and beyond. On Nov. 6, Ether (ETH) price rose to $447 on Binance as Bitcoin (BTC) price pulled back to the $15,500 level after losing steam around $15,900. Based on Ether's strong momentum, traders anticipate a broader rally to emerge in the near term.There are three potential reasons why Ether could see a large uptrend in the upcoming weeks. The catalysts are an optimistic high time frame technical structure, favorable on-chain metrics, and the launch of ETH 2.0.ETH is....
Ethereum declined below the main $2,000 support zone against the US Dollar. ETH price is showing bearish signs and it remains at a risk of more downsides below $1,800. Ethereum extended its decline below the $2,000 and $1,920 levels. The price is now trading well below the $2,000 resistance and the 100 hourly simple moving […]
ETH’s price loses its $1,500 support as the price trades to a region of $1,250 before bouncing off this region. ETH’s price continues to look bearish with the market’s current state, as things look uncertain for most traders and investors. ETH’s price remains weak across all timeframes as the price trades above the 50 and 200 Exponential Moving Averages (EMA). Previous weeks saw the price of Ethereum (ETH) and most altcoins trend higher as many produced gains of over 200%, including the price of Ethereum (ETH) rallying from a region of $1,300 to a high of $1,600....
Ethereum options data show traders anticipate a continued surge to $880 over the next four weeks. Ether (ETH) price has gained 88% since November, astonishing even the most bullish investors as the top altcoin secured a 2020 high at $750. Aside from the upcoming CME ETH futures launch scheduled for Feb. 8, the phenomenal growth of the total value locked (TVL) in Decentralized Finance protocols also played a major part.Total Value Locked, USD. Source: DeFi PulseAs the above data indicates, investors are even more confident that Eth2 has been a success, despite the real potential of delays....