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Ethereum Falls Below $500, Bitcoin Falls to Near $8,000
Ethereum’s price took another downwards step today, falling to around $480 from around $530, nearing its recent bottom of $450. Trading volumes have also dropped to just one billion in the past 24 hours, with volumes of $70 million common for the top exchanges. Ethereum’s recent price action on a 15 minutes time frame. The currency has been sort of sidewaying for a few days, but the general direction continues to be down, with it falling now for months. Bitcoin too has fallen to just above $8,000, with the currency unable to maintain a level above $9,000 in recent days....
The Bulls Have Saved ETHEREUM — For Now!
Welcome to this updated analysis on Ethereum! Let's get right to it! Looking at the four-hour chart, you can see that we're zoomed into the right shoulder of the large head and shoulders pattern on the chart. This is because we have an interesting development that is emerging right now. As you can see, ETH has rallied with the rest of the crypto space, and it is actually trading slightly above the neckline resistance (in red.) Now that we're back inside of the right shoulder, we could see a continuation into higher resistance levels, such as the 50 EMA (in orange) and then the...
Ethereum Price Weekly Analysis – ETH/USD Tumbles Below $560
Key Highlights ETH price was under immense bearish pressure and it declined below the $560 support against the US Dollar. There is a major bearish trend line forming with resistance at $575 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair may continue to slide and it could even break the $500 level in the near term. Ethereum price declined sharply during the past few days against the US Dollar and Bitcoin. ETH/USD could continue to move down below the $500 level. Ethereum Price Decline This past week, a major downside move was initiated from the $750 swing high...
Crypto Update: Pullback Deepens as Majors Test Support Levels
Yesterday’s technically triggered dip continued today in early trading, with losses across the board among the majors. The failure of the two largest coins to break-out of their respective broad declining trend was behind the widespread selling, but the damage is limited so far, and the recovery that started exactly one month ago is still intact. BTC/USD, 4-Hour Chart Analysis Sponsored That said, the short-term picture remained bearish in Bitcoin and the major altcoins, with Bitcoin dipping below the initial $10,500 support today before bouncing back slightly in the European session. The continued Chinese crackdown on the segment weighs on BTC besides the...
Crypto Update: Bitcoin and Ethereum Fail at Trendlines, Triggering Pullback
Despite the recent bullish price action, the two largest coins have been struggling to get over the dominant broad declining trendline, and as the upside momentum faded away the majors turned lower in a concerted fashion today in early trading. The move warrants a more defensive position for short-term traders, but the long-term setup remains positive, and with the exception of the already slightly stretched coins, ETC, Monero, LTC, and Bitcoin, the pullback could be used to accumulate more coins. With the correction lows far below the current price levels in most cases, and several coins are still more than...
Trade Recommendation: Iconomi/Ethereum
The Iconomi/Ethereum (ICN/ETH) pair opened at 0.0085 on August 23, 2017. On the same day, it went as low as 0.00125 before bulls swooped in and brought the price up to a 0.00929 close. Bulls could only do so much, however, as the market continued its plunge. It generated a lower high of 0.007956 on October 4, which sealed the market’s bearish trend. Sponsored On October 13, the market broke below support of 0.0045. Since then, it created a series of lower highs and lower lows until it bottomed out at 0.002 on December 14. Having lost over 76% of...
Trade Recommendation: Request Network/Ethereum
Based on its chart, the Request Network/Ethereum (REQ/ETH) pair appeared to have an initial coin offering price of 0.0012. Unfortunately for participants who bought the ICO the market closed at 0.00016986 on its first day of trading; October 27, 2017. That’s an astounding 85.85% loss in one day! After losing so much of its value, the market consolidated and established support of 0.000115 on November 2. It came back to life on December 13 after breaching resistance of 0.0003. The momentum of the breakout was so strong that the pair went as high as 0.00119798 on January 1, 2018. As...
Crypto Update: Bitcoin Rallies as Ethereum Tests Trendline
The segment continues to trade in a mixed fashion, with no strong broad momentum after the recent correction that ended on Sunday. The major coins are still dominantly in bullish setups, especially regarding the long-term picture, although the declining broad trend channels are still intact in the case of the top 3 digital currencies. Sponsored That said, price action, volatility, and correlations between the majors continue to point to an ongoing advancing cycle after the steep decline in January, even as today, the early leaders of the rally, Litecoin and Ethereum Classic, failed to join BTC higher, with LTC being...
Trade Recommendation: Genesis Vision/Ethereum
The Genesis Vision/Ethereum (GVT/ETH) market started its uptrend on January 4, 2018 when it breached resistance of 0.015. The breakout was so strong that it went as high as 0.048 on January 7. At this price level, however, the market was in extreme overbought territory. Breakout buyers took the opportunity to dump positions. As the market succumbed to heavy selling pressure, GVT/ETH went as low as 0.01333 on January 18. It consolidated around 0.015 support for about a month until a surge in price and volume on February 17 brought the market back to life, and sent it to as...
Trade Recommendation: NANO/Ethereum
NANO/Ethereum (NANO/ETH) is a relatively new market as it registered the first daily candlestick on February 2, 2018. This first daily candle has significantly contributed to the pair’s recent downtrend. While NANO/ETH went as high as 0.029987 on February 2, it closed at 0.018412. This created a bearish shooting star candlestick indicating the dominance of sellers. Sponsored With selling becoming an early theme, the market plunged and went as low as 0.007626 on February 21. At this price point, the market lost almost 75% of its value from the all-time high of 0.029987. That’s why it quickly rallied when it...
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