Ethereum price soars above $3K into 'red zone' triggering sell-off fears
An on-chain indicator, notorious for accurately predicting Ether tops, returns amid the ongoing price rally. Ethereum's native asset Ether (ETH) crossed above $3,000 in an extended upside rally on Aug. 7, hitting a three-month high. Nevertheless, the cryptocurrency's incredible move upside also boosted its possibilities of facing a bearish backlash.An on-chain indicator that tracks the total percent of Ethereum addresses in profits predicted the said downside outlook. In detail, the so-called "Ethereum: Percent of Addresses in Profits" indicator by Glassnode reached 96.4% amid the ETH/USD....
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Ethereum price after trading towards $10.00-10 recovered. However, ETH/USD is now below a major resistance area of $11.00 that can be a sell zone. Ethereum price recently struggled to trade with a positive tone, and as a result, there was a downside move taking ETH/USD towards $10.00-10. The price looks like under a bearish pressure, which could result in more losses in the near future. There is a descending channel pattern formed on the hourly chart (data feed via Kraken), which is acting as a catalyst for the price. On the upside, the channel resistance area is coinciding with the 100....
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Ethereum is still struggling to clear the $595 resistance zone against the US Dollar. ETH price remains at a risk of a sharp decline if it breaks the $575 support zone. Ethereum is still trading well below the main $595 and $600 resistance levels. The price is now approaching the $580 support zone and the […]
Ethereum is facing an uphill task near the $2,000 zone against the US Dollar. ETH price remains at a risk of a larger decline below the $1,800 support zone. Ethereum started a fresh decline after it failed to surpass the $2,000 resistance zone. The price is still trading well below the $2,000 resistance and the […]
Ethereum price declined further against the US Dollar, and it looks like that ETH/USD sellers are back in control for the short-term. Key Highlights. ETH price extended its downside versus the US Dollar, and selling rallies worked. Yesterday’s highlighted monster resistance area on the hourly chart (data feed via SimpleFX) of ETH/USD acted as a perfect sell zone. The price may correct a few points from the current levels, but remains in a bearish zone. Ethereum Price Sell. Ethereum price as mentioned yesterday traded below a major support area against the US Dollar, and was seen under a....