Despite a slow down of the recent bearish momentum, the bears still seem to control the market. In other words, bulls are reluctant to push the ETH price higher. Technical Analysis Technical Analysis By Grizzly The Daily Chart ETH is trading above the most important Fibonacci Retracement level on the daily timeframe – the 0.618 level. Buyers have been defending this level for the past five days. However, the thick Ichimoku cloud has prevented ETH from breaking above the...
Read More »Ethereum Price Analysis: Is ETH Primed for Recovery Following 8% Weekly Correction?
Yesterday, much like the stock markets, cryptocurrencies had rough times. Ethereum lost about 9% of its value, and the bears pushed the price toward the support at $2,800. Technical Analysis By Grizzly The Daily Chart On the daily timeframe, Ethereum entered a correction phase after failing to break the barrier of Fibonacci Retracement at 0.618. It is currently forming a bullish pattern with the formation of higher highs and lows. However, the main question is whether the...
Read More »ETH Price Analysis: Ethereum At 5-Week Low, Here is the Critical Level to Watch
The crypto market continues its sharp correction, in correspondence with the global markets. Ethereum lost about 10% of its value last week and has started the first day of the week in the red. Earlier today, ETH recorded its lowest level since March 18, a five-week low. Technical analysis by Grizzly The Daily Chart On the daily timeframe, the daily MA100 (marked blue), which has been supporting ETH for the past two weeks, eventually broke down. The price is currently on top...
Read More »Bitcoin Struggles Below $40K as Sentiment Returns to Extreme Fear (Market Watch)
After dropping below $40,000 earlier this weekend, bitcoin has been unable to reclaim that level despite a few attempts. The rest of the market is also relatively calm today, with ETH sitting beneath $3,000. Bitcoin Stalls Below $40K After the Monday crash, bitcoin went on the offensive and added several thousand dollars in about a few days. As a result, it broke above the January 2021 all-time high of $42,000 and kept climbing. This culminated in a price increase towards...
Read More »ETH Rejected At Critical Resistance, Where is the Next Support Below $3K? (Ethereum Price Analysis)
After another attempt, Ethereum still could not overcome the key resistance at $3200, and the bears quickly took control of the market. This correlates with the overall sentiment, as the DXY index continues to rise, and high-risk assets such as US stocks indices and Bitcoin are dropping. In addition, Gold has lost 3.5% of its value recently as a safe-haven asset. Technical Analysis Technical Analysis By Grizzly The Daily Chart On the daily timeframe, following the $3200...
Read More »Bearish Weekend Watch: Bitcoin Dumps Below $40K, Ethereum Beneath $3K
The adverse price developments continued in the past 24 hours, and bitcoin dropped below $40,000 for the second time this week. The alternative coins are also well in the red, at least most of them, but ApeCoin has defied the market sentiment and soared by double-digits. Bitcoin Lost $40K It was just a few days ago when the primary cryptocurrency spiked to almost $43,000, which became its highest price level in over ten days. This was a particularly impressive price tag...
Read More »ETH Price Analysis: Ethereum At 10-Day High, Is the Bearish Trend Over?
Ethereum increased 10% from its lowest level at the beginning of the week (below $2.9K), and the bulls regained some market control. But the big question is whether the bearish short-term sentiment is over? Technical Analysis Technical Analysis By Grizzly The Daily Chart On the daily timeframe, the bulls were able to push the price towards the resistance range of $3200-$3300. As the Taker Buy/Sell Ration and Volume Delta shows, the buyer takers have been more powerful in the...
Read More »21Shares and ETF Securities to Launch Bitcoin and Ethereum Spot ETFs in Australia
The Switzerland-based investment product issuer – 21Shares – joined forces with ETF Securities to launch the first two exchange-traded funds in Australia that will provide customers with direct access to cryptocurrencies. Those products will track the performance of BTC, and ETH will go live on April 27. Crypto EFTs Popping out in Australia While the American financial regulators keep rejecting cryptocurrency spot ETF applications by major firms, such products started...
Read More »Ethereum Price Analysis: ETH Reclaims $3000, But Here is The Next Crucial Resistance Level
Ethereum started the week on the green side. After the bears pushed the price down to $2880 yesterday, the bulls entered the market and were able to close the daily candle in green, with a nice wick to the downside (bullish structure). It remains to be seen whether the bulls can take control of the market. Technical Analysis Technical analysis by Grizzly The Daily Chart ETH is trading within an ascending channel (marked yellow). The top of this channel is around $3800, and...
Read More »Ethereum Foundation Reveals How Much ETH it Holds as of March 2022
The Ethereum Foundation (EF) – a non-profit organization that supports the second-largest blockchain protocol – disclosed that its treasury equals around $1.6 billion. $1.3 billion of it is distributed in digital assets (primarily ETH), while approximately $300 million belong to non-crypto investments. The EF Sold ETH at the ATH In its financial report, the Ethereum Foundation revealed that 99.1% of its total $1.3 billion crypto holdings are held in ETH. This amount was...
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