Ethereum’s Near-Term Fate May Rely on This One Surprising News Event
Ethereum’s mid-term outlook has been foggy over the past few days and weeks, with buyers and sellers being unable to gain control of its trend The cryptocurrency is still trading squarely between $340 and $350, with it facing some heightened selling pressure earlier on in the day This selling pressure caused it to dip from highs of $355 to lows of $345 It remains unclear as to what may have caused this to occur One […]
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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’s price action has been closely tracking that of Bitcoin in recent weeks, causing it to see a choppy bout of sideways trading The lack of any real trend in recent weeks has made ETH’s mid-term outlook somewhat unclear That being said, the crypto may now be trading at a pivotal level that determines its near-term outlook One analyst is noting that the price at which it is currently trading has historical significance, and its […]
Ethereum has reached the minimum target of a medium-term correction. The future structure of its price will hint at the following direction. Will the medium-term upward trend continue? The structure of the short-term downward trend was not disrupted. Thus, the formation of a medium-term downward rebound has continued. The level of $11 is a key point, where a change of cycles could take place. If the medium-term trend does not have sufficient support, it will provoke a fall right down to the base of the whole structure. If Ethereum’s price rebounds up from the level of $11, the $12.2....
ETC Group will continue to rely on Ethereum’s original PoW consensus for its current Ethereum ETP, the firm announced on Wednesday. Digital asset-backed securities provider ETC Group will continue to rely on Ethereum’s original proof-of-work (PoW) consensus for its current Ethereum exchange-traded product (ETP).ETC Group officially announced on Wednesday the launch of a new Ethereum ETP in response to the upcoming Ethereum Merge. Scheduled to occur in mid-September, the Ethereum Merge is a long-awaited consensus upgrade that is set to move the Ethereum blockchain from mining-based PoW to....
A short-term downward trend is underway on Ethereum’s market. Will that movement continue into the medium term? For how long will the price keep falling? After failing to fortify at a critical level, Ethereum’s price had just one option - to continue going down. But that movement can’t yet be classified as medium-term. The $7.6 mark has become a new intermediate level. If Ethereum’s price holds at that resistance and forms a turn, the short-term downward trend is going to end and there will be an upward rebound toward the medium-term trend. Ethereum (ETH) price chart If a turn doesn’t....