Ethereum Loses Steam After Nearing ATH—Analysts Warn of Possible Shakeout
Ethereum (ETH) has lost some of its upward momentum after nearing its all-time high, mirroring a broader correction across the cryptocurrency market. The second-largest digital asset by market capitalization briefly touched $4,776 last week, just shy of the $4,878 record set in 2021, before retreating. At the time of writing, ETH trades at $4,280, reflecting a 5.7% decline in the past 24 hours and nearly $500 below its recent peak. The pullback comes as analysts closely watch trading activity in derivatives markets. According to data shared by CryptoQuant analyst CryptoOnchain, retail....
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Ethereum is gaining favor over bitcoin in the eyes of institutional investors. The price of the latter has been seen as being too high, prompting investors to look for other crypto investment options to gain exposure from. The expanding real-world use cases of Ethereum have also helped to further its case as the preferred crypto […]
A crypto analyst has shared a new bold forecast for the Ethereum price, predicting that the number one altcoin is on the verge of an explosive rally to $17,000. The analyst has cited past trends to support his bullish projections, highlighting that Ethereum rallies significantly after a decline. Ethereum Price Forecast Targets $17,000 According to Kiu_Coin, the Ethereum season has just begun, opening up possibilities of price reversals and buying opportunities. Lately, the Ethereum price has been trading sideways, experiencing massive declines that the analyst has described as a “shake....
8% daily losses are painful for longs but no problem for still bullish analysts. Bitcoin (BTC) extended its slide on Nov. 16 as BTC price action returned to test $60,000.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin finally closes large CME gapData from Cointelegraph Markets Pro and TradingView showed BTC/USD coming down 8% from Monday's local highs above $66,000.Bouncing at $60,350 on Bitstamp, the pair nonetheless traded at its lowest since Nov. 6. As leveraged traders felt the pain, optimism remained that the "shakeout" of positions on derivatives exchanges was....
Bitcoin’s price was close to $16,000 Friday but lost momentum while ether locked in DeFi is on a downward trend.
Earlier today, video game developer Valve banned all NFTs and cryptocurrency related games from its Steam platform. Steam is one of the world’s largest video game platforms, featuring a catalogue of thousands of games alongside 25 million daily concurrent players. Steam Removes All Crypto Related Products from Its Store Earlier today, the newly updated Steam […]