Tag Archives: ETH Analysis

This week was a complete rollercoaster in the cryptocurrency market. Unfortunately, things failed to turn out for the better and the majority is trading in the red. Bitcoin Bitcoin is down a steep 11.7% this week as it currently trades beneath $34,000. The cryptocurrency started the week by dropping into support at $31,185 (downside 1.618 Fib Extension) on Monday. On Tuesday, it took a brief dive beneath $30K for the first time since January 2021. It dropped as low as...

ETH/USD – Ether Breaks Consolidation & Hits $2000. Key Support Levels: $2000, $1925, $1888.Key Resistance Levels: $2200, $2340, $2400. Ethereum is now down a sharp 20% on the week as the cryptocurrency crashes into the $2000 support. It had been trading inside a symmetrical triangle pattern over the past three weeks but ended up breaking this consolidation on Friday as it dropped to $2200. Yesterday, ETH showed signs of weakness after spiking into the Feb 2021 highs at...

The last week was rather challenging for altcoins as most of the major ones are trading in the red. Bitcoin managed to pull ahead a bit, which also resulted in an increase in its market dominance. Bitcoin Bitcoin is up by a very small 2.8% over the past week as it currently trades at $37,900 – just above the 20-day MA. The coin had provided some hope at the start of the week as it surged above $37,000 to break a falling trend line that has been in play since the mid-May...

ETH/USD – Market Falls Beneath 100-day MA Key Support Levels: $2330, $2250, $2200. Key Resistance Levels: $2470, $2600, $2720. ETH failed to break the 50-day MA around $2890 at the start of June and, unlike bitcoin, ETH has been consistently dropping since. On Friday, ETH slipped beneath support at $2470 (.382 Fib) and slumped below the 100-day MA to find support around $2330 (.5 Fib). On the short-term charts, an ascending trend line provides support for the ETH/USD market....

It was a rather unfortunate week for the entire cryptocurrency market as most of the coins are trading in the red. Bitcoin is no exclusion, though it’s the one the best performer, relatively speaking, compared to major altcoins. Bitcoin Bitcoin is down by a small 4% over the past week as it currently sits above the 20-day MA at $37,000. The cryptocurrency saw an interesting week after testing $39,200 last week. There, it found resistance at a falling trend line and failed to...

ETH/USD – ETH Falls Beneath Ascending Triangle. Key Support Levels: $2470, $2330, $2200.Key Resistance Levels: $2700, $2890, $3000. ETH fell beneath an ascending triangle pattern tracking over the past fortnight after dropping to $2600 on Monday. It fell beneath the lower boundary (dashed line) and continued until support was established around the $2500 level. The coin did spike as low as $2330 during the week but is now attempting to maintain itself above the newly formed...

ETH/USD – Market Continues Consolidation Inside Triangle. Key Support Levels: $2715, $2600, $2470.Key Resistance Levels: $2892, $3000, $3135. ETH is up by a substantial 18% over the week as it trades at around $2800 but still resides inside the ascending triangle pattern. The roof is at $2891 (bearish .382 Fib), and ETH has been stuck here for the past fortnight. It tested the upper boundary of the triangle last week but failed to overcome it. As a result, ETH headed lower...

We saw another week of relatively choppy price action as the major cryptocurrencies failed to chart any serious gain. On the opposite – with a few exceptions, most of the coins underwater. Bitcoin Bitcoin is down by a total of 4.7% this week and is trading inside an ascending price channel as it battles to remain above the upper boundary at around $36,600. The cryptocurrency had an interesting week of trading after meeting the resistance at $40,760 (bearish .382 Fib) last...

ETH/USD – Ether Breaks Above Short Term Triangle Key Support Levels: $2600, $2470, $2333.Key Resistance Levels: $2740, $2890, $3000. ETH surged 4% over the past 24 hours to break above a short-term symmetrical triangle. The coin had hit the support at the lower boundary of this triangle over the weekend after briefly spiking beneath $2200. Since then, ETH pushed back above the 100-day MA and broke the triangle’s upper boundary yesterday as it broke above $2600. Today, ETH...

ETH/USD – Ether Trades In Short Term Symmetrical Triangle Key Support Levels: $2330, $2200, $2035. Key Resistance Levels: $2470, $2650, $2740. While Bitcoin rebounded to $40K and got rejected earlier this week, ETH topped reaching nearly $2900, where it hit resistance at a bearish .382 Fib. From there, the coin started to head lower over the past few days until finding support at around $2200 (.618 Fib) just a few hours ago. Looking at the following lower time frame chart,...