Bitcoin traders still favor new $20K lows as Ethereum hits $2K
It is high time for a deeper retracement on the "relief" rally in Bitcoin, say commentators, but upside targets of $28,000 stay on the table. Bitcoin (BTC) is still due to return to near $20,000, fresh analysis warns as BTC/USD attempts to retest multi-month highs. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBuy-the-dip set for invalidation at $20,700Data from Cointelegraph Markets Pro and TradingView showed BTC/USD staging a second run-up to near $25,000 on Aug. 13, so far seeing rejection.The pair had gained over $1,300 overnight, but as bulls again ran out of momentum....
Related News
The crypto market has been subject to large liquidation following the price crash. Coming out of the weekend, the market had recorded one of its worst crashes which saw bitcoin fall below the $30,000 territory for the first time this year. With this had come hundreds of millions in short liquidations. However, the bloodbath seems far from over as the market continues to crumble and liquidations have now run over the $1 billion mark. Crypto Traders Getting Rekt After the crash that rocked the market coming out of the weekend, crypto traders had taken a hard hit. However, like always, this....
Traders are showing signs of becoming long-term investors already, anticipating that the Ethereum price could hit $2,000 in the coming sessions.
The Ethereum blockchain is growing fast thanks to DeFi, and some traders say the ether cryptocurrency could notch further gains.
With the Ethereum price slowly demonstrating bullish traction after reclaiming the $2,000 mark, sentiment is turning positive once again. During this price action, investors are choosing to hold the leading altcoin rather than sell, which is indicated by a significant drop in crypto exchanges’ reserves. Available Ethereum On Exchanges Hits New Lows Following the bounce […]
Ethereum has undergone a strong drop from its year-to-date highs at $490. The coin currently trades for $375, around 25% below those highs. At the worst of the correction last month, the coin was down even further. Ethereum remains bullish on a long-term basis as long-term trends favor bulls, analysts say. One trader recently shared a chart indicating that both the technicals and fundamentals favor bulls. Three Ethereum Trends Suggest the Coin Is Primed to […]