This Trend Channel Suggests Ethereum Could Dip to $500 Before Rallying Higher
Ethereum has seen some brutal price action throughout the past few days and weeks, with the selling pressure seen in the $1,300 region proving to be quite intense It is important to note that Bitcoin has been creating massive headwinds for Ethereum as of late, with buyers being unable to guard against an intense decline One trader is now noting that where the market trends next will likely depend on whether bulls can defend $1,000 […]
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Over time, the Ethereum price has been trending sideways with no definitive move in either direction. This trend has led to the formation of an ascending channel that could change the course of things for the second-largest cryptocurrency by market cap. If this trend continues to play out, then it is possible that the Ethereum price is about to see new all-time highs. Why Ethereum Price Could Be Headed Above $5,000 Crypto analyst Jonathan Carter shared an analysis on the X (formerly Twitter) website that takes a look at the Ethereum price and what the current trend could mean for the....
Ethereum Price Key Highlights. Ethereum price seems to be recovering from its earlier drop, as it is trying to establish a new uptrend visible on its 1-hour time frame. Price is moving slowly inside an ascending channel and is currently testing support. Ethereum price might be able to sustain its short-term climb, with technical indicators and candlestick patterns suggesting a bounce. Bullish Divergence Seen. Stochastic has made a shallow bullish divergence, with price forming lower lows and the oscillator drawing higher lows. This indicator is heading higher, which suggests that ethereum....
One trader spotted the fractal, which employs three classic technical indicators to predict an upside trend for Ethereum. Ethereum's native asset Ether (ETH) faces prospects of closing above $14,000 sometime in 2021 based on its current trend's striking similarity with the one from last year.Ether price fractalFirst spotted by user TradingShot, the Ethereum fractal involves three technical indicators: a 50-day simple moving average (50-day SMA), a Fibonacci channel, and a relative strength index (RSI).Ether closed above its 50-day SMA in July 2021, the first time since the May 2021 bearish....
A potential bounce in the BTC/ETH pair suggests Bitcoin will sprint past Ether in the next market rally. In terms of price potential, Bitcoin (BTC) is staring at the possibility of outperforming Ether (ETH) in the short term.So believes David Lifshitz, chief investment officer at ExoAlpha — a Paris-based investment management service — who noted that Bitcoin’s upside potential in the near term is higher than that of Ether’s. He said so after spotting a recent shift in the BTC/ETH ratio.In detail, BTC/ETH compares the trend momentum of Bitcoin and Ether. A lower reading suggests that....
Bitcoin price is testing the ascending channel support, still deciding whether to resume the uptrend or break lower. Bitcoin Price Key Highlights. Bitcoin price is still trending higher, moving inside the ascending channel visible on its 1-hour time frame. As illustrated in the earlier article, price made its way back to the channel support after getting rejected on its test of resistance. Support around $580 seems to be holding so far and technical indicators are suggesting that the climb could continue. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA, hinting....