Tag Archives: Ethereum (ETH) Price

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%...

Ethereum increased by 25% in the past few days and seems to be a step away from shattering the line that has followed the price since its all-time high was registered in November 2021. Technical Analysis By Grizzly The Daily Chart Ethereum has reached an obstacle on the daily chart. A significant resistance zone has been established by the convergence of two descending lines (in yellow and orange) and the horizontal resistance at $1,800 (in red). On August 14, the bulls’...

The past seven days were action-packed, and it’s safe to say those interesting developments took place on all fronts. Bitcoin went through considerable volatility, and Terra’s ecosystem in the face of both LUNC and LUNA went on a massive rollercoaster while the Ethereum Merge countdown officially kicked off with the Bellatrix upgrade. Let’s unpack. Starting with Bitcoin, it got off on the wrong footing. For the first few days of the last week, BTC was rangebound around $20K –...

With the Merge taking place a week from now, ETH remains the market leader and outperformed Bitcoin. However, it is clear from the technical chart that there are significant obstacles standing in the path forward. Technical Analysis By Grizzly The Daily Chart Ethereum is moving within a descending channel (in blue) on the daily chart. This resistance line has prevented further growth since registering its all-time high. When the price last hit the channel’s top in August, it...

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,...

The total cryptocurrency market capitalization dropped below $1 trillion on Saturday as the majority of altcoins are bleeding out. Bitcoin also dropped below the coveted $20,000 as the bulls failed to produce any meaningful increases. Bitcoin Below $20K The primary cryptocurrency has failed to chart any notable increases in the past 24 hours and is down some 1.3%. The bulls attempted to push the price upwards on a few occasions but were unable to do so. Eventually, this...

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...

The past 24 hours took a turn for the better as, the broader cryptocurrency market added over $50 billion to its total capitalization and reclaimed the coveted $1 trillion level. This comes on the back of Bitcoin reclaiming $20K and Ethereum pushing for $1.6K at the time of this writing. Bitcoin Price Bouncing Back Yesterday, the BTC price slipped towards $19,500, where it seems to have marked some sort of a local bottom as that’s where the bulls took more definitive steps to...