Will Ethereum Merge hopium continue, or is it a bull trap?
ETH has gained 48% over the past week, leaving most of its crypto brethren behind — though it's still risky days ahead given the macroeconomic factors still at play. Ethereum is outperforming the broader cryptocurrency market as the highly anticipated Merge approaches, but the bigger picture is still largely bearish.Ethereum (ETH) has gained a whopping 48% over the past seven days, outperforming its big brother Bitcoin, which has only managed to achieve 19% in the same period. It's also up 66% from its market cycle bottom of $918 on June 19, reaching its current price of $1549.However, the....
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0x Labs developer advocate believes the current crypto winter provides a chance for "rationalization" and "validates" underlying blockchain systems. Both the ongoing downturn across cryptocurrency markets, and Ethereum’s upcoming merge were under the spotlight on the second day of ETH Community Conference. The wider Ethereum community descended on Paris for the largest annual European Ethereum event, with key roleplayers, companies and individuals taking part.Related: Will Ethereum Merge hopium continue, or is it a bull trap?Cointelegraph spoke to Jessica Lin, developer advocate for....
Ether has printed a classic bullish reversal pattern against Bitcoin weeks before the Merge launch date. Ethereum's native token Ether (ETH) has rebounded 40% against Bitcoin (BTC) after bottoming out locally at 0.049 on June 13. Now, the ETH/BTC pair is at two-month highs and can extend its rally in the coming weeks, according to a classic technical pattern.ETH paints cup and handle patternSpecifically, ETH/BTC has been forming a "cup and handle" on its lower-timeframe charts since July 18. A cup and handle setup typically appears when the price falls and then rebounds in what appears to....
Bitcoin price is on the rebound, but after such a sharp fall and more than 50% retracement, any reversal must be considered a potential bull trap until much higher prices are reclaimed. Further adding credence to the theory of a potential bull trap, a trend strength indicator very clearly shows that bears are in charge, […]
An ascending triangle setup promises major price rebound in the Ethereum price in 2022. Ethereum's native token, Ether (ETH), continues to face downside risks in a higher interest rate environment. But one analyst believes that the token's next selloff move could turn into a bear trap as the market factors in the possible release of the Merge this coming August.ETH to $4K?Ether's price could reach $4,000 by 2022's end, according to a technical setup shared on May 20 by Wolf, an independent market analyst.The analyst envisioned ETH moving inside a multi-month ascending triangle pattern,....
Newbie crypto traders should be wary of bull traps. If you suspect one is on the way, here are some tips to identify it. How to identify a bull trapHere’s how to spot a bull trap with some tell-tale indicators that one is on the way:RSI divergenceA high RSI might be an indication of a potential bull or bear trap.A relative strength index (RSI) calculation may be used to identify a possible bull or bear trap. The RSI is a technical indicator, which can help determine whether a stock or cryptocurrency asset is overbought, underbought or neither.The RSI follows this formula:The calculation....