On The Brink: Ethereum Challenges Descending Channel, Targets $3,000 Price
Ethereum (ETH), the second-largest cryptocurrency by market capitalization, is preparing for a potential rally towards the $3,000 mark, a level not towardseen since early February. This comes despite a tumultuous month in which the altcoin has experienced a nearly 20% decline in price, reflecting broader trends in the cryptocurrency market currently in a bearish phase given global economic concerns. Can Ethereum Break Through $1,600 For A New Bullish Trend? Over the past two months, Ethereum’s price has faced substantial headwinds, retracing approximately 67% from its all-time high of....
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An analyst has pointed out how Ethereum has seen a sell signal on the Tom Demark (TD) Sequential alongside the retest of a key resistance line. Ethereum Is Trading Around Upper Boundary Of Descending Channel In a new post on X, analyst Ali Martinez has talked about how Ethereum is looking from a technical analysis (TA) perspective. First, Martinez has pointed out that ETH has been trading inside a Descending Channel for the last couple of months. Related Reading: Bitcoin STH Whale Profits Hit $10.1 Billion, Highest For The Cycle The Descending Channel refers to a consolidation pattern that....
Ethereum has been in a descending channel against Bitcoin since August of last year, meaning Bitcoin has been the better investment over this time. However, historical trends show the tides could be changing soon, with Ethereum possibly on the brink of entering an accumulation phase. Related Reading: Bitcoin Price To Reach $170,000 in 2025 – Mathematical Model Predicts Ethereum Price Action Ethereum is trading at $1600, marking a 22% decrease from its price last August. Bitcoin, on the other hand, is 8% up over the same period. This is a common trend that happens during bear markets. Coins....
Ethereum price has been trading within a descending trendline, which is a sign of bearishness. Over the last 24 hours, the Ethereum price has been different as the coin registered a 6% appreciation. As the coin appreciated, it broke outside of the descending channel. Over the last week, the Ethereum price lost more than 7% of its value. The buyers have entered the market, which has helped Ethereum climb on its chart. Although buyers are attempting to make a comeback, the sellers continue to drive the price action on the one-day chart. The $1,400 price mark continues to remain a tough....
Investors watch trading volume and other momentum indicators alongside descending channel patterns to better gauge when to open and close trades. Buying an asset in a downtrend can be a risky maneuver because most investors struggle to spot reversals and as the trend deepens traders take on deep losses. In instances like these, being able to spot descending channel patterns can help traders avoid buying in a bearish trend.A “descending channel,” also known as a “bearish price channel” is formed by drawing two downward trendlines, parallel to each other, which confine the price action of....
Potcoin Price Key Highlights. Potcoin price has been steadily trending lower, moving inside a descending channel pattern on the 1-hour time frame. Price is testing the latest lows and might be due for a move down to the channel support at 0.00000220BTC or lower. Potcoin price could carry on with its ongoing selloff, as technical indicators also confirm that further losses are likely. Bounce Off Channel Support? Potcoin price might still be able to take a break from its dive if the bottom of the descending channel holds as short-term support. In that case, price could head back up to the....