Ethereum Recent Bearish Breakdown Signals Growing Advantage For Sellers
While the Ethereum price saw a brief bounce towards the end of Wednesday, the structure remains significantly weak underneath the surface. During this highly negative period, the leading altcoin has made a crucial move by confirming a bearish breakdown, which could impact its near-term outlook. Sellers Now Dominating The Ethereum Market Ethereum, the second-largest digital […]
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Ethereum price traded positively this past week to post gains above $10.00, but it looks like it may correct lower in the near term. Ethereum price after trading from the $7.20 low to $10.40 high found sellers and started to move down. This past week I mostly suggested to buy and it worked. This upcoming I see ranging moves, so we may get opportunity to enter into both sides of the market. Looking at the charts at present, there is a slight increase in the bearish sentiment, which means, it can trade lower. There was a bullish trend line formed on the hourly chart (data feed via Kraken) of....
In line with our yesterday's bearish call, Ethereum has cracked the important support level of 0.002BTC as bitcoin shows strong positive signs. With the breach, Ethereum has dropped roughly 3% to trade at 0.00198BTC. It touched an intraday low of 0.00194BTC. The pain is clearly not over for Ethereum; the momentum and the strength indicators have taken drastic cuts, and the price may see 0.0019BTC before short-sellers cover their positions. Take a look at the latest technical considerations from the 4-h ETH-XBT price chart taken from the KRAKEN exchange. Image. Chart Structure - Although....