Ethereum Likely to See a “$300 Test” as Short-Term Structure Flashes Warnings
Ethereum’s short-term market structure has been flashing some signs of weakness as of late Although the cryptocurrency has mainly been consolidating and has lacked directionality, there is currently significant uncertainty within the entire crypto market This could continue perpetuating investor fear, potentially causing assets like ETH to see further downside in the days and weeks ahead One trader is particularly watching for another $300 test for the cryptocurrency, noting that although its short-term outlook is […]
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As was predicted, Ethereum’s price has bounced off the long-term resistance line. If the structure of that movement holds, a turn to growth is likely to happen. Will there be a turn to growth? After fortifying near the top resistance of $7.5 and forming a turn to growth, the short-term structure of the downward trend was disrupted, which caused a turnabout. Such movement indicates that the bulls are holding the advantage, hence the trend is likely to go up. It’s important to monitor the structure of this short-term increase. If a turn forms at the level of $7.3, the trend has a good chance....
Ethereum has reached the minimum target of a medium-term correction. The future structure of its price will hint at the following direction. Will the medium-term upward trend continue? The structure of the short-term downward trend was not disrupted. Thus, the formation of a medium-term downward rebound has continued. The level of $11 is a key point, where a change of cycles could take place. If the medium-term trend does not have sufficient support, it will provoke a fall right down to the base of the whole structure. If Ethereum’s price rebounds up from the level of $11, the $12.2....
Bitcoin has surged $1,000 from last week’s lows of $10,400. At $11,400, the cryptocurrency remains decisively higher than it was before this rally. Even still, analysts think that Bitcoin is primed to undergo a reversal as its short-term to medium-term chart flashes a number of warning signs. Bitcoin Could Face a Short-Term Pullback as Price Fails to Pass Breaker One crypto-asset analyst recently shared this chart below. It shows that BTC’s recent rally ended right […]
Ethereum’s price has approached the $20 mark. The long-term upward trend continues. How much potential is left in this movement? Ethereum’s price is forming a short-term flat. After exiting the zone of a likely medium-term flat of $10-14, Ethereum’s price has formed an upward trend. The cancellation of a flat has caused the continuation of the long-term upward trend. This way, the movement has turned out to be a powerful one, as was predicted in the beginning of June. The upward surge in the beginning of the week was supported by the GBPUSD and EURUSD markets. Both euro and pound dropped....
Ethereum continues its upward trend. The structure of the trend was not disrupted at a key level, which resulted in a new upward impulse. The upward trend continues. After a rebound from a medium-term level, Ethereum’s price has continued its upward movement. The power of that impulse is caused by the inablity of the market to form a turn to decline. If that wasn’t the case, a new flat wave would have been likely. But because the structure of the short-term upward trend was not disrupted, a flat is not going to happen. What has followed as a result is a powerful upward impulse. As long as....