Tag Archives: Ethereum (ETH) Price

Despite a 7% spike for Ethereum in the last 48 hours, followed by a steep decline, the possibility of a bullish rally remains low. The price has yet to recover from the major drops that took place in September. The first step towards bullish sentiment would be to reclaim the critical level of $1,550. Technical Analysis By Grizzly The Daily Chart As seen below, an ascending triangle pattern (in yellow) has developed on the ETH/USDT trading pair chart. This pattern is textbook...

Following the last red days, ETH has hit the support area between the white descending line and the price range at $1,220-$1,280 (in green). So far, the bulls have successfully maintained the high selling pressure; however, the situation is still fragile. Looking at the bullish case, ETH must close above the key resistance at $1,420 (in red). The first target of such a movement can be considered at $1650. However, the danger is still here, and if the support range at $1220...

This week, we take a closer look at Ethereum, Ripple, Cardano, Solana, and Binance Coin. Ethereum (ETH) Despite the bullish fundamentals of Ethereum’s merge, the price of the second largest cryptocurrency has continued its downtrend and registered a 10% loss in the past seven days. At the time of this post, ETH managed to find some support at $1,250, but this level remains fragile. The resistance is not far away at $1,400, and bears will likely come in strong if the price...

As predicted, the FOMC-mandated 75 bps rise negatively impacted traditional and cryptocurrency markets. Ethereum (ETH) dived 13%, dropping towards the $1200 level, recording its lowest level since mid-July. Technical Analysis By Grizzly The Daily Chart ETH is currently trading amid a critical support zone between $1230 and $1280 (in green), along with the 0.618 Fib Retracement level at $1210 (in yellow). After reaching this Fib level, ETH quickly climbed back by 6% earlier...

Mike McGlone – Senior Commodity Strategist at Bloomberg – argued that the crypto winter might last longer than previous market declines and the reason for it is the “Fed’s sledgehammer.” In the next few years, though, he expects the industry to emerge stronger than ever, with Bitcoin tapping $100,000 and Ethereum trading at $6,000 by 2025. He also touched upon “The Merge,” claiming that the event got “too hyped,” which is now causing short-term pain to investors. He also...

After Ethereum’s switch to a proof-of-stake, the bears took control of the market. Investors have turned away from high-risk assets like equities and cryptocurrencies. The ETH weekly candle closed at $1,334 yesterday, which is a new low. Technical Analysis By Grizzly The Daily Chart The price is currently down 27% from the high of $1,789 reached on September 11th. The lowest level touched in today’s session is $1,280, which is just above the 200-week moving average (in...

Ethereum finally migrated to a proof-of-stake consensus algorithm. The event triggered a wave of selling which was probably propelled by those who bought ETH to receive the ETHW airdrop. Because of this, the price has declined by some 15% in the past couple of days. Technical Analysis By Grizzly The Daily Chart Ethereum is forming its third straight red candlestick on the daily timeframe. The cryptocurrency is currently back at a level defended by the bulls in the last two...

Arthur Hayes – the co-founder and former CEO of one of the most popular cryptocurrency derivatives exchanges (BitMEX) – has laid out some thoughts on Ethereum’s Merge. In a recent tweet, Hayes argued that the only thing that matters (price-wise, seemingly), for ETH after the Merge is its net issuance. To those unaware, Ethereum’s transition from proof-of-work to proof-of-stake introduced a dramatic shift in the cryptocurrency’s issuance model. The summarized calculations of...

Ethereum just experienced its first hint of post-merge price action. Unfortunately for bulls, it was to the downside.  After clinging to roughly $1600 over the past 24 hours, Ethereum has now slipped over 5% lower within the past two hours. Likewise, Bitcoin has lost its $20,000 level once again. Ethereum was trading for about $1587 at roughly 14:19 UST on Thursday. It rapidly descended after that, falling as low as $1456 just an hour later.  At the time of writing, Ethereum...

The Consumer Price Index numbers for August are in, and, as always, this caused major volatility within the cryptocurrency markets. At the time of this writing, Ethereum, as well as Bitcoin, are charting initial declines. The US Bureau of Labor Statistics just updated the numbers for the Consumer Price Index for August and they are slightly above expectations. The August inflation locked in at 8.3%, which is 0.2% higher than what experts expected. This represents a 0.1%...