Tag Archives: ETH Analysis

Ethereum has resumed its upward trajectory in recent days. This happened after the bears failed to push the price below the support level of $1,420. The positivity is also highlighted by the fact that Ethereum is trading at its highest price against Bitcoin since December 2021. Technical Analysis By Grizzly The Daily Chart At the end of August, the bears managed to retrace the July gains and pushed the price towards the 61.8% Fib level, which lies at $1,420. The important...

Despite pushing the price higher earlier in the week, the bulls have lost momentum as the days went on. As the date of the Merge approaches and the Ethereum market grows hotter, speculation about the future of the price has reached its peak. Technical Analysis By Grizzly The Daily Chart The formation of lower highs and lower lows suggests a bearish structure. The recent bullish leg stalled when it reached the resistance of the 20-day moving average line (in yellow). However,...

August’s monthly candle closed in the red. However, it was a month filled with volatility where the bulls dominated the market until the middle of the month and managed to record a high of $2031. At that point, bears intercepted and pushed the price towards $1420. In any case, all eyes are now on September as we enter the month when the Merge is expected to take place. Technical Analysis By Grizzly The Daily Chart In the daily timeframe, buyers appeared strong this week. They...

After dropping to a monthly low over the past week, finally, the steep dive seems to be finding a local bottom. ETH saw a staggering 12% price increase over the past three days, touching a high of over $1600 as of yesterday (Wednesday). Could this end up in breaking out above the falling wedge, which is textbook bullish? Technical Analysis By Grizzly The Daily Chart The bottom line of the falling wedge pattern (in yellow) has already supported the price three times. This...

Any optimism for a rally is fading quickly as the Merge upgrade date approaches. Two weekly candles closed in red, warning of the formation of a bearish structure. Ethereum lost approximately 30% of its value over that period. Technical Analysis By Grizzly The Daily Chart Ethereum is forming a lower low on the daily chart. The structure, followed by the formation of lower highs and lower lows, can be the precursor of continuous declines. So far, the bears managed to erase the...

Just like the traditional markets, the crypto markets reacted badly to yesterday’s speech by Powell. Following the announcement of the continuation of the hawkish policy of the Federal Reserve, the market sentiment is bearish. Yesterday’s selloff caused Ethereum to lose more than 12% in under 24 hours. Is more pain incoming? Technical Analysis By: Grizzly The Daily Chart The price of Ethereum fell sharply against the US dollar and Bitcoin yesterday. The short uptrend that...

In today’s overview, we take a closer look at Ethereum, Cardano, Ripple, Binance Coin, and Solana. Ethereum Ethereum might be down 9.1% this week, but it’s recovering well from the latest collapse. The cryptocurrency fell from above $1,800 last Friday and continued to decline during the weekend until it found support at the 50-day MA level. It rebounded from the 50-day MA and started to climb throughout the week. Yesterday, it found resistance at the 20-day MA level and the...

After the DXY index rebounded off the support at 104, the crypto market entered a correction phase. In the past few days, Ethereum experienced an uptrend after touching $1,523 on August 20 and rallied today as new updates on the Merge were announced. Can the bulls reclaim $2,000? Technical Analysis By Grizzly The Daily Chart On the daily time frame, buyers have stepped up. Defending the support at $1,500 caused the bears to pull back a bit. Now, the buyers have to flip the...

The market has calmed down a bit in the past few days, even though it seems clear that the bears are in the driving seat. This happened as the bulls managed to defend the $1,500 level and are currently trying to recoup. Even though the negative momentum decreased, it’s still early to weave the possibility of a subsequent collapse out. Technical Analysis By Grizzly The Daily Chart The intersecting of the 100-day (in white) and 50-day (in yellow) moving average lines served as...

Following a drop to a 3.5-week lohasETH had seen a slight recovery in today’s market action as the price is struggling to maintain above Now of now, all eyes are on the support, which lies on yesterday’s low at $1500, where lies the 50-day moving average line. Technical Analysis By: Grizzly The Daily Chart The ETH/USDT trading pair could not avoid the recent crypto correction, which triggered a rapid downward move from around $2,000, which was recorded just a week ago....