Ethereum Crosses $1,700, But Could Return To Path Of Pain, Expert Says
Ethereum (ETH) took off over the weekend and has extended its gains during today’s trading session. The second crypto by market cap could extend its gains, as “The Merge” becomes a certainty. Related Reading: Market Sentiment Holds Steady As Bitcoin Aims For $24,000 The event that will complete Ethereum’s transition from a Proof-of-Work (PoW) to a Proo-of-Stake (PoS) consensus algorithm, “The Merge” has been set for September 2022. One of the most expected dates in the crypto industry, market participants seem divided on its short-term implications. At the time of writing, ETH’s price....
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Pal says that the upcoming release of ETH 2.0 and and ETH ETF will extend the crypto market cycle Former Goldman Sachs hedge fund manager and founder of Real Vision, Raoul Pal, believes that the social media pundits are wrong and the crypto market cycle won’t end this year. But things might get a bit hairy on the way. In a Real Vision interview on Nov. 3rd Pal predicted that the current bull run won’t end in December as it did spectacularly in 2015 and 2017, and will instead extend to some time between March and June. According to Pal, Bitcoin, Ethereum and altcoin markets are likely to....
Amid the negative U.S. GDP record and high Fed rate, there seems to be a positive turning for some digital assets, especially Ethereum. For example, the global second largest cryptocurrency by market cap, Ethereum (ETH), is staging a solid bounce back. Over the past few days, Ether has progressively increased as it surges to $1,774 in its market. This has created a new phase for the crypto assets with more growing impressive within the industry. From the perspective of Raoul Pal, a crypto expert, Ethereum is likely to display continuous price growth across the $2,000 level. Also, its....
Ethereum Price Key highlights. Ethereum price is moving sideways on the 1-hour time frame, creating a triangle formation on the short-term chart. The path of least resistance is to the downside, as the longer-term downtrend is still intact. Ethereum price could find more downside momentum, pending a break below the support of the current consolidation pattern. Testing triangle resistance. At the moment, Ethereum price is hovering around the top of the triangle consolidation around 0.00261BTC, which might be enough to keep further gains in check. A return in selling pressure could lead to a....
Ethereum Price Key Highlights. Ethereum price is still stuck inside its range, finding support at 0.00285 and resistance at 0.00305. Price bounced off the bottom of the range as expected and is on its way to test the top again. Ethereum price could keep moving sideways, especially if the top of the range holds as resistance and spurs another test of support. Buyers Regaining Control. Technical indicators are suggesting that a bounce is underway, with stochastic and RSI both climbing out of the oversold region to indicate a return in bullish momentum. The average directional index is moving....
The macro picture in Europe looks bearish and as the Federal Reserve signals continued hawkish stance, bitcoin provides a hopeful path forward.