Ethereum Sends Red Signals, But Should You Worry About The Long Term?
The crypto market is experiencing a correction with Bitcoin and Ethereum giving back their gains from previous weeks. The general sentiment in the sector was optimistic but could take a blow if main cryptocurrencies lose their current levels. Related Reading: USDC Exchange Reserve Spikes – Can This Help Push Bitcoin Back Up? At the time of writing, Ethereum (ETH) trades at $1,690 with a 10% loss in the last 24 hours and 7 days, respectively. The cryptocurrency has preserved a critical support zone at $1,700 that was turned from major resistance into support. In a market update, BitMEX....
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Ethereum is, imho, the play of the day. We have finally gotten a likely close on the long-term daily chart on the sunny side of the 3rd arc. This is not trivial. This development is supported by several other geometric considerations of the chart. For instance, here is a short-term bear setup from the recent swing high: As you can see, we have a significant green candle that occurred EXACTLY at 3rd arc support, and exactly at the end of the 2nd square. There is more. Here is a long-term bear setup of the same chart: This long-term bear setup, most amazingly, ALSO shows a bounce off 3rd arc....
Venture capitalist Marc Andreessen continues to send mixed signals on Bitcoin at a time when it remains unclear how supportive the influential firms he has founded are of the technology.
On-chain data shows the Ethereum long-term holders have recently been increasing their total share of the cryptocurrency’s supply. Ethereum HODLers Currently Carry The Majority Of ETH Supply According to data shared by the market intelligence platform IntoTheBlock in a post on X, the Ethereum long-term holder supply has been on the rise recently. The “long-term […]
Ethereum has been on another decline along with the market. After struggling to cross $3,100, the digital asset had taken another beating down that saw it crash below $3,000 once again. However, this does not signal more downtrends. In fact, indicators point to the coming upside from Ethereum despite the recent trend, one that would see it test another important resistance point. Ethereum Crossing $3,000? It is no secret that Ethereum has largely fluctuated around $3,000. This price mark is important to the asset, hence the reason why bulls continue to battle hard to keep it. And as....
Ethereum has undergone a strong drop since the August highs of $490. The coin currently trades for $380, far below the aforementioned highs. Despite the strong correction, analysts are optimistic that the long-term trend remains bullish. One crypto-asset analyst noted that as long as Ethereum holds the $350 region, it could move towards $700 in the long term. The chart suggests that the prices in the vicinity of $350 are of macro importance. Namely, in […]