Ethereum market analysts desperately search for the bottom but ETH price technicals aren’t excluding further downside below $700.
Ethereum ‘March 2020’ fractal hints at price bottom — But ETH bears predict 50% crash
Ethereum Loses Demand Zone Again As Bears Dominate – Is $700 Realistic For Investors?
- ETH price losses key demand zone of $1,200 again
- Price remains weak as bears battle bulls; so much uncertainty in the market
- ETH price gets rejected from a low of $1,220 on the high timeframe
The price of Ethereum (ETH) trading below $1,200 continues as the price faced rejection, breaking and trending higher to a region of $1,300 after showing from price action bouncing off from its weekly low of $1,080.
In the high timeframe, the price of Ethereum (ETH) looks weak, with a probable result of a downtrend movement compared to an upside. Despite the relief bounce and uncertainty surrounding the crypto market, the FTX fiasco continues to act as a catalyst for the market to bottom out.
The Domino effect of the FTX saga and other large investors has stalled the market, as it has yet to make a significant move, raising concerns about the market’s direction. (Data from Binance)
Ethereum (ETH) Price Analysis On The Weekly Chart
Despite the relief bounce across the market, with the price of ETH rallying from a weekly low of $1,080 to a high of $1,220, the crypto market remains uncertain and turbulent, affecting the price of Ethereum (ETH). Many altcoins are struggling for survival, trying to stay afloat as the prices of altcoins continue a downward price movement.
With so much news of a capitulation imminent for all crypto assets coupled with the FTX and other crypto projects suffering from bankruptcy, the bottom could be in soon.
ETH’s price had a weekly close below a crucial area of $1,200 after showing so much strength rallying from a weekly low of $1,080 to a high of $1,220 as the price was unable to break above $1,250.
After ETH’s price declined from a high of $1,220 to a region of $1,170, the price has struggled to regain such strength it has rallied to this high with more growing speculation of price retesting the region of $700.
Weekly resistance for the price of ETH – $1,250.
Weekly support for the price of ETH – $1,000.
Price Analysis Of ETH On The Daily (1D) Chart
The price of BTC remains considerably weak in the daily timeframe after closing below $1,250. With ETH’s price unable to break and close above $1,300, there are growing chances of price retesting the regions of $700.
ETH’s price currently trades at $1,174 below the 50 and 200 EMA, acting as resistance for the price of ETH from trading higher. The price of ETH needs to break above $1,400 and $1,700 for the price of ETH to kickstart the price recovery plan.
Daily resistance for the ETH price – $1,400 & $1,700.
Daily support for the ETH price – $1,000-$900.
Featured Image From Reuters, Charts From Tradingview
Ethereum Price Reclaims Demand Zone Of $1,200 – Here Are Levels To Watch
- ETH price reclaims demand zone of $1,200 as the price aims to trend higher
- Price continues to look bearish with the market’s current state, as most traders and investors remain cautious
- ETH price bounces from a low of $1,100 on the daily timeframe as it eyes a recapture of $1,300 above the 50 Exponential Moving Average (EMA)
Ethereum (ETH) continues to display a better price action than Bitcoin (BTC) as the price reclaims the demand zone and eyes a further rally to a region of $1,300 if the crypto market remains calm ahead of a monthly close. Despite the relief bounce from Ethereum (ETH), the price still trades below the key region of interest that would attract the attention of many buyers. The Domino effect of the FTX saga and other huge investors has left the market at a standstill as the market is yet to make a major move leading to much fear about where the market could be headed. (Data from Binance)
Ethereum (ETH) Price Analysis On The Weekly Chart
Despite the uncertainty and turbulence that has affected the price of Ethereum (ETH) and the crypto market as a whole, with many altcoins struggling for survival, trying to stay afloat as the prices of altcoins continue in a downward price movement.
ETH’s price declined from a region of $1,450 to a region of $1,300 as ETH lost this key support. The price of ETH failed to hold above $1,300, leading to price retesting lower price points.
The price of ETH continues to hold above $1,000, indicating a good sign for bulls on the weekly chart and other timeframes. If the price of ETH loses this region of interest, it would mean price going and bears controlling ETH prices.
Weekly resistance for the price of ETH – $1,300.
Weekly support for the price of ETH – $1,000.
Price Analysis Of ETH On The Daily (1D) Chart
The price of BTC remains considerably strong in the daily timeframe as the price trades above $1,200 after ETH saw its price decline from $1,300 to $1,080 as the market continues in its state of uncertainty.
ETH’s price continues to struggle as price aims for more relief bounce from this region. The price of ETH needs to reclaim and trade above $1,300 for a short-term relief bounce. The $1,250, corresponds to the Fibonacci retracement value of 38.8%, acting as a strong resistance to the ETH price.
ETH price trades at $1,200 below 50 EMA, acting as resistance for ETH to trend higher. The price of $1,350 on the daily timeframe for ETH needs to be reclaimed for bulls to feel safe.
Daily resistance for the ETH price – $1,350.
Daily support for the ETH price – $1,100-$1,250.
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Ethereum (ETH) Bulls And Bears Tussle At $1,000; Will Bears Come Top?
- ETH’s price lost its demand zone of $1,200 as the price struggled to hold above $1,000.
- ETH’s price continues to look bearish with the market’s current state, as things look uncertain for most traders and investors.
- ETH’s price looks weak as the price struggles to hold above $1,000, with the possibility of reclaiming the daily and weekly 50 and 200 Exponential Moving Averages (EMA) remaining bleak.
The price action displayed by Ethereum (ETH) has continued to look like a fairytale, with many traders and investors disheartened, following the collapse of the FTX effect affecting small crypto projects like Genesis as the market continues to look weak on each passing day signifying the bottom is not yet in leading to the price of many altcoins, including Ethereum (ETH) as the price continues to hang on a balance, battling for survival. The Domino effect of the FTX saga and other huge investors has left the market at a standstill as the market has yet to make a major move after previous weeks saw the price of ETH struggling to hold above $30. Most altcoins have lost their key support and have traded with over 90% loss, with many hoping for a crypto revival. (Data from Binance)
Ethereum (ETH) Price Analysis On The Weekly Chart
The past few days have been filled with so much turbulence in the crypto space as many altcoins have struggled to show strength after losing their key support holding off price decline.
The current uncertainty surrounding the market has resulted in reluctance on the part of traders and investors to make altcoin purchases in the case of ETH worsening, as there is no assurance if they would be heading up any time soon.
FTX and Genesis’s news have hugely impacted the price of ETH, sending the price into a spiral movement to a region of $1,050 as the price struggles to stay above $1,000.
After the price of ETH closed below the weekly high of $1,200, there are high chances of the market going lower, with the prices of SOL looking more bearish with the weekly open.
Weekly resistance for the price of ETH – $1,200.
Weekly support for the price of ETH – $1,000-$900.
Price Analysis Of ETH On The Daily (1D) Chart
The price of ETH remains considerably weak in the daily timeframe as the price trades below the $1,200 resistance after bouncing off from the region of $1,000 on several instances, giving bear more belief of pushing price lower to a region of $900-$800.
Rumor building of a likely bankruptcy of Genesis could affect the price of ETH and other smaller assets, with the price facing a possibility of losing the region of $700-$600 in case things gets out of hand.
If the price of ETH breaks below $900, we could see more sell-off, as this has been an area of interest to hold off bears.
Daily resistance for the ETH price – $1,200.
Daily support for the ETH price – $1,000-$900.
Featured Image From zipmex, Charts From Tradingview
Here’s Why Ethereum Is Not Out Of The Woods Yet
Ethereum has been seeing some significant downside coming out of the weekend. This was triggered by the FTX hacker, who currently holds hundreds of thousands of ETH, dumping some of those coins for Bitcoin over the weekend. After dumping around 10,000 ETH, the digital asset had dumped more than 7%, as a large number of investors continue tracking the wallet.
More Pain To Come For ETH
Looking at the impact of the FTX hacker selling ETH for BTC had on the market, and seeing the balances of the address, it is no secret that Ethereum is not completely out of the woods yet. There are a lot of eyes on the hacker’s wallet, which contains more than 180,000 ETH, coming out to over $200 million.
Even now, the hacker continues to dump more ETH, putting more sell pressure on the cryptocurrency. On Monday, the hacker dumped another 15,000 ETH which was converted to BTC according to on-chain data. Given the pattern of selling, it looks like the hacker is trying to convert the stolen crypto to BTC, likely running it through a mixer later on.
Continuous selling on the part of the hacker who is now one of the largest ETH whales could cause further damage to Ethereum’s price. Over the last 24 hours, ETH’s price is already down more than 7%, making triple-digit price ranges an increasing possibility for ETH.
ETH falls to $1,100 | Source: ETHUSD on TradingView.com
Can Ethereum Hold Up?
Ethereum bulls continue to fight the selling pressure being created by the FTX hacker dumping coins but there is only so much they can do. During a crypto winter such as the one currently being experienced, prices of cryptocurrencies are already down, making them more susceptible to further declines.
If the FTX hacker were to dump all 180,000 remaining tokens on the market, then there is not enough demand to soak it up at this time. The support at $1,000 is already weakened and would make for easy pickings for bears as well.
Alternatively, the hacker could stop selling coins to wait for a price recovery which would give the market some time to actually find its footing. But sentiment in the space is already dropping and investors have retreated into their shells once more as the Fear & Greed Index points toward extreme fear.
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Ethereum Struggles To Hold Above $1,000 As Bears Push Harder; Will Price Go Lower?
- ETH’s price lost its demand zone as the price struggled to break above $1,250.
- ETH’s price continues to look bearish with the market’s current state, as things look uncertain for most traders and investors.
- ETH’s price looks weak as the price struggles to hold above $1,100, with the possibility of reclaiming the daily 50 Exponential Moving Average (EMA) remaining bleak.
The price action displayed by Ethereum (ETH) has remained disheartening, with the FTX effect affecting small crypto projects like Genesis as the market continues to look weaker with each passing day, indicating that the bottom has not yet been reached, resulting in the price of many altcoins, including Ethereum (ETH), battling for survival. The domino effect of the FTX saga and other large investors has brought the market to a halt, as the market has yet to make a significant move after the price of ETH performed well in previous weeks. Most altcoins have lost key support and have traded at a loss of more than 90%, with many hoping for a crypto revival. (Data from Binance)
Ethereum (ETH) Price Analysis On The Weekly Chart
The crypto space has seen a lot of turbulence in the last few days, with many altcoins struggling to show strength after losing key support that was holding off price declines.
The current market uncertainty has caused traders and investors to be hesitant to purchase altcoins, as there is no guarantee that they will rise in value any time soon.
The news of FTX and now Genesis has had a significant impact on the price of ETH, sending it into a spiral movement to a region of $1,150 as the price struggles to stay at $1,000.
After the price of ETH closed below the weekly high of $1,200, there are high chances of the market going lower, with the prices of ETH looking more bearish with the weekly open.
Weekly resistance for the price of ETH – $1,300.
Weekly support for the price of ETH – $1,000.
Price Analysis Of ETH On The Daily (1D) Chart
The price of ETH remains considerably weak in the daily timeframe as the price trades below the $1,200 resistance after bouncing off from the region of $1,100.
With rumor building of a likely bankruptcy of Genesis, this could affect the price of ETH and other smaller assets, with the price facing a possibility of losing the region of $1,000.
If the price of ETH breaks above $1,000, we could see more sell-off as this has been a temporary region to hold bears.
Daily resistance for the ETH price – $1,200.
Daily support for the ETH price – $1,000.
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Bitcoin Struggles As More Bearish Signs Appear; Can Bulls Defend $15,500?
- BTC’s price lost its all-time high as price struggled to break above $17,000.
- BTC’s price continues to look bearish with the market’s current state, as things look uncertain for most traders and investors.
- BTC’s price looks weak as the price struggles to hold above $16,000, with the possibility of reclaiming the daily 50 Exponential Moving Average (EMA) remaining bleak.
The price action displayed by Bitcoin (BTC) has continued to look disheartening, with the FTX effect affecting small crypto projects like Genesis as the market continues to look weak on each passing day signifying the bottom is not yet in leading to the price of many altcoins, including Bitcoin (BTC), battling for survival. The Domino effect of the FTX saga and other huge investors has left the market at a standstill as the market has yet to make a major move after previous weeks saw the price of Bitcoin (BTC) perform well. Most altcoins have lost their key support and have traded with over 90% loss, with many hoping for a crypto revival. (Data from Binance)
Bitcoin (BTC) Price Analysis On The Weekly Chart
The past few days have been filled with so much turbulence in the crypto space as many altcoins have struggled to show strength after losing their key support holding off price decline.
The current uncertainty surrounding the market has resulted in reluctance on the part of traders and investors to make altcoin purchases, as there is no assurance if they would be heading up any time soon.
FTX and now Genesis news has had a huge impact on the price of BTC, sending the price into a spiral movement to a region of $15,500 as the price bounced off this region with what looked like a temporary demand zone to hold off a big sell-off.
After the price of BTC closed below the weekly high of $17,000, there are high chances of the market going lower, with the prices of BTC looking more bearish with the weekly open.
Weekly resistance for the price of BTC – $17,500.
Weekly support for the price of BTC – $15,500.
Price Analysis Of BTC On The Daily (1D) Chart
The price of BTC remains considerably weak in the daily timeframe as the price trades below the $16,500 resistance after bouncing off from the region of $15,500.
With rumor building of a likely bankruptcy of Genesis, this could affect the price of BTC and other smaller assets, with the price facing a possibility of losing the region of $15,500.
If the price of BTC breaks above $15,500, we could see more sell-off as this has been a temporary region to hold bears.
Daily resistance for the BTC price – $17,500.
Daily support for the BTC price – $15,500.
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Ethereum Bears Roar As Price Struggles; Here Is Why Bulls Must Defend $1,000
- ETH’s price reclaims its demand zone of $1,200 as price bounces to a region of $1,250 despite market turmoil.
- ETH’s price continues to show strength after a bearish downtrend with the market’s current state, as things look uncertain for most traders and investors.
- ETH’s price bounces from a low of $1,100 on the daily timeframes as the price aims for a recovery toward the 50 Exponential Moving Average (EMA)
In the last two days, the crypto market has seen some drastic shift in sentiment, with Ethereum (ETH) and the price of other altcoins battling for survival after the news that Binance would not be taking over FTX after conducting due diligence. Previous weeks saw the price of Ethereum (ETH) perform well, rallying from a low of $1,300 to a high of $1,680. Most altcoins trend higher as many produced gains of over 200%, including DOGE rallying from a region of $0.55 to a high of $0.15, with many hoping for more recovery bounce. Still, these expectations were cut short by the uncertainty surrounding the crypto market, leading to much fear about where the market is headed. (Data from Binance)
Ethereum (ETH) Price Analysis On The Weekly Chart
The past few days have been filled with so much turbulence in the crypto space as many altcoins have struggled to show strength after losing their key support holding off price decline.
The current uncertainty surrounding the market has resulted in reluctance on the part of traders and investors to make altcoin purchases, as there is no assurance if they would be heading up any time soon.
The news of Binance rescuing the situation by taking over FTX led to so much tension as the crypto space remains unsettled, leading to most altcoins suffering in price, including the price of ETH.
The price of ETH saw its price decline to a weekly low of $1,100 before bouncing off this region, showing some great strength to a region of $1,300 as the price aims to break higher. The price of ETH needs to rally to a region of $1,450, acting as a demand zone to remain safe from sell-off.
Weekly resistance for the price of ETH – $1,500.
Weekly support for the price of ETH – $1,100.
Price Analysis Of ETH On The Daily (1D) Chart
The price of ETH remains considerably strong in the daily timeframe as the price trades above $1,200 support after bouncing off from the region of $1,100, which saw ETH losing its demand zone to the bears.
If the price of ETH breaks above $1,500, we could see more rallies for ETH price; a break below a region of $1,100 would lead to more sell-offs for ETH.
Daily resistance for the ETH price – $1,500.
Daily support for the ETH price – $1,100.
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Ethereum Whales Gobble Up Over 650,000 ETH As Market Hits New Lows
Ethereum whales are going straight to market to load up their bags as ETH falls to ‘discount prices’. Just like the rest of the crypto market, Ethereum has taken a beating down, falling more than 20% in the last three days. While panic continues to spread across the market, whales have loaded up their holdings with more than 600,000 ETH.
Ethereum Whales Buy The Dip
The “Buy the dip” sentiment is still really strong among players in crypto. Since the assets are currently at one of the lowest price points for the year 2022, it presents an opportunity for those looking to buy the digital asset at a low price.
Ethereum whales holding between 100-1,000,000 ETH on their balances have been the most active in this regard. Data from on-chain analysis firm Santiment shows that these large investors added a total of 657,390 ETH to their balances in the space of 24 hours.
Whales accumulate ETH | Source: Santiment
This led to a sharp increase in their collective holdings as they are now holding more than $780 million worth of ETH. Most of the buys happened after the market had begun to stabilize and the accumulation trend had begun.
Accumulation among Ethereum investors is also shown in the exchange net flows in the last 24 hours. Even as sell-offs continue to be the order of the day, there is still reasonable demand for ETH in the market. Glassnode data shows that on the last day, there was $1.4 billion worth of ETH flowing out of exchanges compared to $1.2 billion in inflows, leading to negative net flows of -$220.6 million.
Bitcoin Whales Follow Suit
Ethereum whales are not the only ones trying to get their hands on more coins. Unlike Ethereum which had held above its cycle low, bitcoin had broken far below its cycle low of $17,600, reaching levels not seen since 2020.
In response, the bitcoin-denominated open interest has soared. With open interest reaching as high as 380,000 BTC on Thursday, it shows that bitcoin investors are treating the decline as an opportunity to buy tokens for cheap.
Traders are viewing #Bitcoin's 2-year low price levels as a #buythedip opportunity. Funding rates show an extreme #long bias, particularly on @FTX_Official, where many believe their funds may be impossible to withdraw. Feelings of hopelessness often correlate with higher risk. pic.twitter.com/OW2buYx2gb
— Santiment (@santimentfeed) November 9, 2022
Santiment notes that long bias was becoming more prominent, especially among FTX users whose funds are stuck on the exchange. Given that these users believe their funds have already been lost, they are taking more risks as they try to recoup losses.
Nevertheless, bitcoin has not shown any signs of being at the bottom. There has been no significant support and the price of the digital asset continues to fluctuate wildly after hitting a new cycle low of $15,500 on Wednesday.
ETH falls to $1,187 | Source: ETHUSD on TradingView.com
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Ethereum Bulls Defend $1,200 Support As Price Holds; How Long Will This Last?
- ETH’s price loses its $1,500 support as the price trades to a region of $1,250 before bouncing off this region.
- ETH’s price continues to look bearish with the market’s current state, as things look uncertain for most traders and investors.
- ETH’s price remains weak across all timeframes as the price trades above the 50 and 200 Exponential Moving Averages (EMA).
Previous weeks saw the price of Ethereum (ETH) and most altcoins trend higher as many produced gains of over 200%, including the price of Ethereum (ETH) rallying from a region of $1,300 to a high of $1,600 with many hoping the price of ETH would pull off a good price action to a region of $2,000. Still, these expectations were cut short by the uncertainty surrounding the crypto market. ETH’s price is looking weak with the current market issue between Binance and FTX, creating a fear of uncertainty and doubt for most traders and investors. (Data from Binance)
Ethereum (ETH) Price Analysis On The Weekly Chart
The previous week saw many altcoins produced over 200% gains over the past 7 days of breaking out of their range-bound movement, as many believe more hope is returning to the crypto space.
The new week has yet to kick in like the last as most altcoins, including ETH affected by the current state of the market as the price of ETH looks shaky, dropping off from their weekly highs.
Still, the price of ETH has continued to look bearish after breaking below its weekly high of $1,450, which has served as a support and demand zone for months now, holding off the price from sell-offs. The price of ETH retesting the support at $1,200 is not good for the market as this would weaken this region for bears to push the price lower.
The price of ETH needs to rally off this region to look safe and avoid dropping below its weekly lows, as this would affect the general market sentiment. If the price of $1,200 fails to hold, we could see the price of ETH retesting at $1,000 and lower.
Weekly resistance for the price of ETH – $1,400.
Weekly support for the price of ETH – $1,200-$900.
Price Analysis Of ETH On The Daily (1D) Chart
The price of ETH remains considerably strong in the daily timeframe as the price trades above $1,200 support, holding off the price from trending lower after retesting this region on previous times, bouncing off to begin a rally to a region of $1,500.
ETH’s price closed above $1,200 on the daily timeframe indicating there are more chances of ETH trending upwards as the market continues to recover in the coming days.
The price of ETH needs to rally to a region of $1,450 for the price to remain safe temporarily, leading to a relief rally. If the price of $1,200 fails to hold bears, we could see the price going down to a region of $1,000-$900.
Daily resistance for the ETH price – $1,450.
Daily support for the ETH price – $1,200-$900.
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Ethereum Struggles To Trade Above $1,650 Again, Is $1,750 Possible For Bulls?
- ETH’s price needs to stay above $1,500 for the price to have a chance to rally high to a region of $1,700.
- ETH’s price continues to trend, creating a more bullish bias as the price aim for $1,700, where the price could face resistance.
- ETH’s price remains strong, holding key support on the daily timeframes as the price trades above the 50 Exponential Moving Average (EMA).
The crypto market had a good run in the previous week as the price of Ethereum (ETH) leveled up to the expectations of many holding out for the price to continue in its uptrend as many traders looked with so much hope of the price rallying to a region of $1,700 with no sign of Ethereum (ETH) slowing down with a possible rally to $2,000. The crypto market has seen some relief across all assets, but the new week holds mixed feelings, with Ethereum (ETH) dropping toward its key support. (Data from Binance)
Ethereum (ETH) Price Analysis On The Weekly Chart
The previous week saw many altcoins produced over 200% gains over the past 7 days of breaking out of their range-bound movement, as many believe more hope is returning to the crypto space.
The new week hasn’t kicked in like the last as most altcoins have begun to look shaky, dropping off from their weekly highs, including the price of ETH suffering a minor price retracement back to a region of $1,550 just above its key support area of $1,500 after the price of ETH has shown strength breaking above $1,500 and holding up pretty well.
After having a weekly close above $1,500, the price of ETH still looks good despite dropping from its high of $1,680 recently, with so much hype for ETH to rally back to the region of $2,000.
The price of ETH needs to hold above $1,500 for the price to have a chance of a rally to the region of $1,700 and possibly to a high of $2,000; if the price of ETH fails to hold $1,500, we could see price retesting weekly support of $1,400-$1,300.
Weekly resistance for the price of ETH – $1,680.
Weekly support for the price of ETH – $1,400-$1,300.
Price Analysis Of ETH On The Daily (1D) Chart
In the daily timeframe, the price of ETH continues to look strong as the price could be set to rally to a high of $1,700 after bulls keep pushing higher in the chart.
The price of ETH trades at $1,590 after suffering a minor setback in the price of ETH; the price trades above the 50 EMA, which indicates a good relief sign for ETH’s price on the daily timeframe could be poised for a major breakout if prices close above $1,650 after facing rejection to trend higher.
Daily resistance for the ETH price – $1,680.
Daily support for the ETH price – $1,450-$1,400.
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Why Ethereum Would Have Been A Better Investment For MicroStrategy
The debate of which is the better investment between Bitcoin and Ethereum continues to wax strong between communities. This time around, it is being put to the test using MicroStrategy’s crypto investments over the years. Microstrategy is currently seeing a loss on the 130,000 BTC that it had purchased over the years, making it the public company with the largest bitcoin holdings. But what if the company had invested in Ethereum instead?
Ethereum Is A Better Bet
In the course of about two years, MicroStrategy had ramped up its BTC buying which ran into billions of dollars. At 130,000 BTC on its balance sheet, the company has spent approximately $4 billion to accumulate the coins. However, even with the coins being bought over time at varying prices, the company is still recording a more than $1 billion loss at the current price of bitcoin.
Given that the company remains steadfast in its support and continuous investment in bitcoin, it begs the question of what would have been the case if the company had gone with another cryptocurrency. Specifically, bitcoin’s largest competitor Ethereum.
It is no secret that more often than not, Ethereum has been outperforming bitcoin. So it is not a stretch to say that MicroStrategy would be in a better position if it had invested in Ethereum instead of bitcoin, and the numbers prove this to be true.
ETH price remains below $1,600 | Source: ETHUSD on TradingView.com
A comparison from Blockchain Center shows that MicroStrategy would be $1.47 billion in profit if it had bought ETH. Tracking the purchases that the company has made over the years, it would have 3,541,989 ETH now, worth $5.6 billion.
Even at the peak of MicroStrategy’s BTC holdings, the comparison shows that ETH would still have performed way better. In December when MicroStrategy’s holdings were worth just under $8 billion, it would have been worth $16 billion with ETH. Additionally, if the company had invested in Ethereum and then proceeded to stake its ETH, it would have earned approximately $380 million since then.
MicroStrategy would’ve done better investing in ETH | Source: Blockchain Center
Even now, if the company were to convert all of its BTC holdings to ETH, it would come out to a total of 1,692,762 ETH. At a 4% APR rate, it would be earning an additional $134 million in annual revenue just from staking alone.
Related Reading: Ethereum Must Hold $1,500 Or Risk A Decline To $1,300
The comparison puts the various profitability levels of both digital assets over the year. Ethereum has continued to outperform bitcoin both in the long and short term. It really begs the question of if Bitcoin is really the best crypto asset to invest in as ex-CEO of MicroStrategy Michael Saylor said.
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Ethereum Must Hold $1,500 Or Risk A Decline To $1,300
Ethereum is on an obvious bull path given its performance in the last couple of weeks. The digital asset took a turn for the better more than a month after the Merge was completed and accumulation among investors was already in full swing. ETH’s price eventually surpassed $1,600 before encountering rejection and dropping down below.
Ethereum Needs To Hold $1,500
Now that the digital asset has been beaten down back below $1,600, support has moved lower. $1,500 is currently serving as the support level for Ethereum at this point. This now makes it the level to hold for bulls and the level to beat for the bears.
If the digital asset is unable to hold this level and bears are able to drag its price down below, then ETH will likely see $1,300 on its way down. Below, $1,500, support is weak given the recent sell-offs that have followed the recovery in price. Thus, it lies just above $1,300 before the losses reach a block.
As for the current resistance, it still lies above $1,600 for any significant pushback. This is because Ethereum’s price remains firmly above its 100-day moving average, with a firm middle point between this and the 200-day MA sitting at $1,800. Thus, bears continue to fight to hold any level that could prevent such a recovery.
ETH continues to hold above $1,500 | Source: ETHUSD on TradingView.com
In addition to this, the sell-offs have been slower than what was recorded back during the period of the Merge. This is why despite an unfavorable announcement by the Fed on Wednesday, there is still a lot of value left from last week’s gains in the crypto market.
As long as there is no drastic shift in investor sentiment at this point leading to massive sell-offs, Ethereum is likely to continue holding above $1,500, at least for the short term. The weekend performance will be another thing entirely given that this is a period of low momentum for the market. So the current indicators for ETH holding through Friday and could deviate going into the weekend.
ETH’s biggest support still comes from investors holding out hope that the gains recorded in digital assets such as Dogecoin will eventually spill into the broader altcoin market. If so, then ETH could see a rally above $1,600 once more before the weekend is in full swing.
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Ethereum (ETH) Price Struggles At $1,540; Is $1,700 Still Realistic For Bulls?
- ETH’s price slowed down after showing so much strength as it rallied to a high of $1,600 but got rejected as the price maintained downward.
- ETH could suffer retracement as the price holds above the key support area, holding the price off from sellers with hopes of a rebound.
- ETH’s price remains strong on the daily timeframes as the price trades above the 50 Exponential Moving Average (EMA).
Ethereum (ETH) showed some incredible price action as the price rallied from a low of $1,260 to a high of $1,650 before facing a rejection back to its key support of around $1,500, where bulls had tried to hold sell-offs. The crypto market has enjoyed a bit of relief across all assets, with Bitcoin (BTC) showing great traction, rallying and dragging the market. With so much uncertainty in the crypto market, most traders and investors have maintained more caution this time. (Data from Binance)
Ethereum (ETH) Price Analysis On The Weekly Chart
The past week has seen many altcoins continue to produce over 200% gains over the past 7 days of breaking out of their range-bound movement, as many believe more hope could be settling into the crypto space once more.
The new week looked different, as many altcoins have yet to run well. Bitcoin (BTC) prices have struggled to stay afloat ahead of the scheduled Federal Open Market Committee (FOMC) to hold off BTC prices from losing going lower than expected.
Ethereum’s (ETH) price has had a great run but has faced a setback in rallying past the high of $1,600 to a region of $1,700, as anticipated by many. After its weekly close of above $1,500, the price of ETH rallied to a high of $1,640; the price faced a minor rejection to break higher to a region of $1,700.
The price of ETH has maintained a strong outlook above its crucial support form at $1,500, determined to defend this region from sellers.
Weekly resistance for the price of ETH – $1,640.
Weekly support for the price of ETH – $1,500-$1470.
Price Analysis Of ETH On The Daily (1D) Chart
In the daily timeframe, the price of ETH continues to be strong as bulls try to hold the price above its key support zone at $1,470, forming strong support to hold off the price from sellers.
ETH currently trades at $1,540, just above its key support on the daily timeframe after successfully rallying from this region several times to a high of $1,650 before being rejected.
The price of ETH continues to hold above its support of $1,430, which corresponds to the value of 50 EMA, acting as a good support area for prices. If this region holds, we could see more rallies for ETH prices.
Daily resistance for the ETH price – $1,640.
Daily support for the ETH price – $1,430.
Featured Image From zipmex, Charts From Tradingview
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Ethereum Bulls Rally Above $1,500, But ETH Could Face A Tough Time Here
- ETH’s price shows strength as it bounces from a downtrend range with high volume, aiming for a rally to $1,700.
- ETH faces a major issue to trend and holds higher above $1,500 after the price broke out of its downtrend descending triangle price movement.
- ETH’s price remains strong on the daily timeframe above the 50 Exponential Moving Average (EMA) as the price aims for more rallies.
The price of Ethereum (ETH) has continued to hold strong as price trends toward the region of $1,700 as the price faces a key issue ahead of a big move, considering how tough breaking above $1,450 has been for the price of Ethereum after moving in range for several weeks. The past few days have seen the crypto market has looked more decent, with the likes of Bitcoin (BTC) and Ethereum (ETH) showing some great price movement in recent times. With ETH price rallying from $1,300 to a region of $1,580 as price aims to outperform BTC in the coming days ahead of its monthly close. (Data from Binance)
Ethereum (ETH) Price Analysis On The Weekly Chart
In recent times, Ethereum has struggled to regain its bullish momentum; despite the uncertainty that has befallen the crypto space, the price of ETH hasn’t enjoyed a measure of relief following the post “Ethereum Merge.” Before the merger, the price of ETH soared from a weekly low of $900 to a high of $2,030.
ETH’s price has struggled to replicate such a rally, with the price falling from that high to a low of $1,260 in recent weeks.
After trading in a range for weeks as the price continued its monotonous move from $1,260 to $1,300, ETH finally showed some movement, rallying to a high of $1,580 after closing strong above $1,370 on the weekly chart.
The price of ETH faces a difficult decision to rally to a high of $1,700, as this could trigger further upside movement to the $2,000 range. With ETH’s structure and the crypto market overall looking positive, we could see more rallies for ETH’s price to break $1,700.
Weekly resistance for the price of ETH – $1,642-$1,700.
Weekly Support for the price of ETH – $1,350.
Price Analysis Of ETH On The Daily (1D) Chart
In the daily timeframe, the price of ETH continues to trade below the key resistance at $1,640. After breaking out from its descending triangle,
The price of ETH needs to break and hold above $1,640 for the price to trend higher to a region of $1,700 and possibly $2,000, which is a key supply zone for most traders.
The Fibonacci retracement (Fib) value of 50% indicates ETH has earlier had a rejection which the price is trying to overcome. The price of $1,620 corresponds to the Fib value of 50%. If the price of ETH closes above this level, we could see a rally to $1,700, which is the exact value for 61.8% Fib value acting as a strong rejection zone.
Daily resistance for the ETH price – $1,640-$1,700.
Daily Support for the ETH price – $1,450.
Featured Image From zipmex, Charts From Tradingview
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Ether has entered a bearish range that preceded a 35% price crash in the April–May 2022 session.
Ethereum Price Will Rally If This Happens; What Could That Possibly Be?
- ETH’s price shows the first sign of bounce after forming a bullish pattern as the price gets rejected into a descending range channel.
- ETH bounced off its downtrend movement as the price builds more momentum in a descending triangle with a breakout on either side open.
- The price of ETH continues in its range movement as the price gets rejected and trades below the 50 and 200 Exponential Moving Averages (EMA).
The price of Ethereum (ETH) after its “Ethereum Merge” hasn’t been encouraging as the price has dropped far below the expectations of many. After rallying to a high of $2,030 before its merge, the price of Ethereum (ETH) has seen its price decline with little or no bounce to the upside as the market continues with so much uncertainty as to where the crypto market could be headed in the next few weeks. Despite so much speculation of a better month, with many referring to it as Uptober based on past data and price movement, the result has yet to see much change. (Data from Binance)
Ethereum (ETH) Price Analysis On The Weekly Chart.
Ethereum’s price has struggled to regain its bullish momentum in recent times; despite the uncertainty that has befallen the crypto space, the price of ETH has yet to enjoy the measure of relief it had in previous weeks before its merge. ETH showed much strength on the weekly chart rallying from a low of $900 to a high of $2,030 before facing rejection from that region.
After the price of ETH rallied to a high of $2,030, the price has faced rejection to break higher to a region of $2,500-$3,000, and the price has continued to struggle to stay afloat, considering how tough the crypto market has been lately.
ETH’s price was rejected to a region of $1,600, where it had formed strong Support before rallying to a high of $2,030. The price of ETH after rejection could not hold this support area which would be a good area to push prices higher as the price fell to $1,400. With the price further losing $1,400 support, the price battled to hold above $1,200, acting as a key demand zone for prices.
Weekly resistance for the price of ETH – $1,450.
Weekly Support for the price of ETH – $1,200.
Price Analysis Of ETH On The Daily (1D) Chart
In the daily timeframe, the price of ETH continues to trade below the key resistance formed at 50 EMA after forming a descending triangle as the price attempts to break into a higher price range.
The price of ETH needs to break and hold above $1,400 for the price to trend higher to a region of $1,550 and possibly $1,600, which is a key supply zone ETH price in recent weeks.
Daily resistance for the ETH price – $1,400.
Daily Support for the ETH price – $1,270.
Featured Image From Uopeople, Charts From Tradingview
Ethereum Mimics Bitcoin As The Bulls And Bears Tussle; Who Will Come Top?
- ETH’s price struggles to break above key resistance as the price continues to trade in a range mimicking the price of Bitcoin.
- ETH continues to struggle as price trades close to the demand zone.
- The price of ETH continues to look indecisive as price trades below 50 and 200 Exponential Moving Average (EMA) on the daily timeframe.
The price of Ethereum (ETH) in recent times has looked like it has lost its steam to rally against tether (USDT) as the price has remained in a range-bound movement for over weeks. Despite the uncertainty that has befallen the crypto market in recent weeks, as the price of Bitcoin (BTC) and other crypto assets such as Ethereum (ETH) have seen a slight setback in their price movement, the price of ETH has shown little or no volatility in its price movement as many fear for the price losing its key support. (Data from Binance)
Ethereum (ETH) Price Analysis On The Weekly Chart.
The bear market has been good and favorable for most projects, as this has been a tough time as most projects have seen a price decline of over 50% and have discouraged most traders and investors from hodling these assets.
Before the “Ethereum Merge,” the price of ETH saw an increase and rally from the price of ETH as the price outperformed BTC at the time, with many clamoring for $4,000 ETH, but this was just a mere wish.
The price of ETH after the merge has become a shadow of itself after the price rallied from a weekly low of $1,000 to a high of $2,030 before seeking a rejection in its price as the price of ETH attempts to break past the resistance at $2,030.
ETH’s price saw a decline in price from this region; the price tried to form a support at $1,600 but lost this support as the current state of the market continues to look tough and challenging. The price of ETH dropped to a low of $1,260, acting as key support as the price bounced off this region to a high of $1,300 as the price continued to hold sell-offs.
Weekly resistance for the price of ETH – $1,400.
Weekly support for the price of ETH – $1,260.
Price Analysis Of ETH On The Daily (1D) Chart
Daily ETH Price Chart | Source: ETHUSDT On Tradingview.com
In the daily timeframe, the price of ETH continued to look indecisive as the price trends in a rectangular channel with a range-bound movement.
The price of ETH was rejected from a high of $1,430 as the price saw itself move in a range as the price prepared to break either upward or downward.
The price of ETH needs to break upwards and close above this range to resume a relief bounce for its price; if the price of ETH fails to breakout, we would see $1,260-$1,300 being tapped more often and could lead to ETH trading lower if these supports are broken.
Daily resistance for the ETH price – $1,400.
Daily support for the ETH price – $1,260.
Featured Image From zipmex, Charts From Tradingview
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