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Ethereum 1D Technical Analysis & Commentary- Ethereum is currently trading at 2448$ - Ethereum has been moving in a range since August 2024 - Ethereum has also underperformed Bitcoin after its ETF approval that's another thing to notice - Ethereum/BTC has been slaughtered like anything and that's another way to track when ETH will outperform BTC - ETH/BTC is currently in a free fall and I see 2 Major areas where I expect a reversal from : 1st - 0.029 : 2nd - 0.021 - Ethereum's ecosystem and Altcoins will only pump hard the ones related to the ETH ecosystem when we see Ethereum flipping 2800$ and making a weekly close above it post that we might see a strong recovery in Alts like OP, ARB, Matic, and so on. - Meme coins based on the ETH ecosystem are already performing nicely, but if ETH takes over then they will also turn parabolic so watch out PEPE it's a narrative play - Ethereum has started building a base now, the bigger the consolidation the larger the expansion is going to be, mind that - Spot Ethereum accumulation at this price is best from a conservative approach you can easily expect 100% in a quarter if your average price is 2500$
Long
by VKtradesimbalance
ETH/BTC Macro AnalysisSince May 2021, ETH/BTC has been forming a falling wedge pattern, which mirrors the setup seen during the previous bull cycle. Based on the current technical structure, the 0.040 to 0.036 range appears to offer a favorable entry point for converting Bitcoin into Ethereum, providing an opportunity to increase Satoshi holdings. While a worst-case scenario could push the pair to the 0.031 region, the probability of this outcome remains low. Should we witness a breakout from the wedge, there is potential for a significant move, with targets around the 0.075 level, representing a potential 100% increase. Additionally, the Money Flow Index (MFI) is showing a positive upward curve, indicating increasing buying pressure. Please note: This is not financial advice. Conduct your own research and trade responsibly
by utkarshx27
Algorand (ALGO) Price Prediction 2022Algorand (ALGO) holds the 33rd position on CoinGecko right now. ALGO price prediction 2022 is explained below with a weekly time frame. The above chart of Algorand (ALGO) laid out the falling wedge pattern. In a falling wedge pattern, both the upper trend line which connects the highs and the lower trend line which connects the lows converge downwards. The wedge pattern in general indicates a trend reversal. Especially, the falling wedge signals a bullish reversal. This pattern indicates a breakout in the price trend towards an upswing. From the above chart, we can interpret that the momentum of the downtrend is slowing down. Currently, Algorand (ALGO) is in the range of $0.3545. If the pattern continues, the price of ALGO might reach the resistance levels of $0.9855, and $2.5450. If the trend reverses, then the price of ALGO may fall to $0.2755. Algorand (ALGO) Support and Resistance Levels The chart below shows the support and resistance levels of Algorand (ALGO). From the above daily time frame, it is clear the following are the resistance and support levels of ALGO. Resistance Level 1 $0.3631 Resistance Level 2 $0.7565 Resistance Level 3 $1.4060 Resistance Level 4 $3.0360 Support Level $0.2035 ALGO Resistance & Support Level The charts show that Algorand (ALGO) has performed a bullish trend over the past month. If this trend continues, ALGO might run along with the bulls overtaking its resistance level at $3.0350. Accordingly, if the investors turn against crypto, the price of Algorand (ALGO) might plummet to almost $0.2035, a bearish signal. Comparison of ALGO with BTC, ETH The below chart shows the price comparison between Bitcoin, Ethereum, and Algorand (ALGO). From the above chart, we can interpret ETH, BTC, and ALGO are moving in a similar trend. This indicates that when the price of BTC increases or decreases, the price of ETH and ALGO also increase or decrease respectively.
Long
by TheNewsCrypto
ETH is preparing for a huge movementSimilarly to BTC, ETH is probably forming a horizontal triangle, in fact, a huge one whose targets are astronomical, ~$4000 if it breaks to the upside, $1240 if it breaks to the downside. The upper resistance matches another important level, the EMA ribbon, which ETH is right now battling against, therefore, if ETH were to break to the upside, we would technically be bullish again. Another important thing to notice is the decreasing volume, which is a clear indication that ETH is preparing to make a movement. Either direction, it is important to wait until we have a significant volume that confirms the breakout. Remember to trade safely and let me know what you think about this idea.
by AlexG3158
BITCOIN LONG-TERM VIEWBitcoin is going through massive pain areas as compared to the other cryptos, as it has been affected the most in this bearish time frame. We have given here the technical analysis for the long-term scenario and short-term scenario, with all of its possibilities. The price is volatile enough to move in any direction- up, down or sideways. Bitcoin USD Live chart states that currently, Bitcoin is trading at $4140.28 with a market capitalisation of $62,477,511,147 and circulating supply of 17,429,512 BTC. First, let us represent the long-term monthly time frame chart of Bitcoin live ticker- XBT/USD (BitMex) as per Bitcoin stock price, which covers both resistance and support levels with Bitcoin candlestick charts as well. Long-Term Analysis (A Month Timeframe) Bitcoin Long Term Analysis Scenario 1: Bullish (Uptrend) If the Monthly candle (December) closes with price above $3430 with decent buy volume then we might see the price the testing the "Resistance Zone 2" ranging from $4207-$4700 within few weeks. Few other factors in confluence with the bullish scenario: 1) Stochastic RSI is in the Oversold Region (its a region where asset price is likely to rebound or bounce). 2) Selling Volume (red bars at the bottom of the chart) is declining i.e. sellers are getting exhausted. Scenario 2: Bearish (Downtrend) If the Monthly candle (December) closes with the price below $3430 with decent sell volume then we might see the price, the testing, the "Support (Buying) Zone 1" ranging from $2400-$2900 within few weeks. If that support doesn't hold (no buying interest) then we might see "Support (Buying) Zone 2" followed by last "Support Zone 3". Factors in confluence with Bearish Scenario Support Zone 3 ranging from $1100-$1300 is the High of the previous Bull market cycle (2013) and might get a retest to follow market cycle rule (not mandatory but likely). Scenario 3: Ranging Scenario Bitcoin Ranging Scenario One of the scenarios which people often ignore is that an asset ranges between two boundary zones for some weeks and months before moving into strong trends (Upward or Downward) just like Bitcoin did between price levels $5800-$6400 for 3 months (September-November'18) before making a major move downtrend to $3100 price level. There are permutations and combinations you can apply between different zones (Resistance and Support) on the chart to form Ranging Zones. These are areas where major market participants (Institutional Investors) accumulate before a big change in direction of the price. Note: Monthly time frame charts illustrates the movement of price over a long-term horizon and are most often used by long-term investors. Short-Term Analysis (Daily and Weekly) Let's take both the bullish and bearish scenario for the short-term time frame. Bitcoin Short Term Analysis Scenario 1: Bullish (Uptrend) If BTC close above $3650 Daily and the weekly frame shows a reversal pattern (Green Engulfing candle) we might enter at these levels ($3600) with a target around $4000+ which eventually might restest Resistance Zone ($4400-$5400) in the coming weeks. Scenario 2: Bearish (Downtrend) If BTC couldn’t break the previous support ($3600) turned resistance in the coming weeks then there are two Bounce(rebound) zone for Bullish reversal ranging from $1800-$2400 and $896-$1200 for coming weeks and month. Now, we have reached the last segment of our analysis where we will mention the news and event analysis Institutional bodies are getting interested in cryptocurrencies. One such example is the U.S. state of Ohio accepting tax payments. Merchants like Overstock, eGifter, Expedia, Shopify accept Bitcoins as payments and several people are testifying on social media how they purchased goods and services with cryptocurrencies such as BTC, ETH, and BNB. The supply of Bitcoin is finite and limited to 21 Million hence the demand is not going down. Second, that the number of Bitcoins generated per block is set to decrease by 50% every 210,000 blocks. For example, if today each miner receives 12.5 Bitcoins for solving (mining) a block, after the next halving event they will receive only 6.25 BTC and so forth. 2018 was filled with rumors of institutional investors buying into cryptocurrencies, especially Bitcoin. Several times, the Bitcoin ETF has been rejected in 2018. But recently an SEC commissioner has started a Bitcoin ETF is definitely possible. In 2019, NASDAQ is going to work with the US Commodity Futures Trading Commission (CFTC) to launch Bitcoin futures in the first quarter of 2019. Conclusion While bull and bear markets are nothing new in the financial world and Bitcoin has been through the bear cycle before and recovered well from it with given time. Bitcoin is here to stay, it’s worth exploring the drops in value and equally fast recovery the currency has experienced. History shows that the top cryptocurrency has sustained much more rapid losses during a shorter period of time over the course of the past several years, and has not discouraged long-term investors.
BITMEX:BTCUSD.P
by coinswitch-trading
VeChain (VET) Price Prediction 2022 - Crypto AnalysisVeChain (VET) Price Prediction 2022 VeChain holds the 37th position on CoinGecko right now. VET price prediction 2022 is explained below with a daily time frame. The above chart of VET laid out the horizontal channel pattern, also known as the sideways trend. In general, the horizontal channel is formed during the price consolidation. In this pattern, the upper trendline, the line which connects the highs, and the lower trendline, line which connects the lows, run horizontally parallel and the price action is contained within it. A horizontal channel is often regarded as one of the suitable patterns for timing the market as the buying and selling points are in consolidation. Currently, VET is in the range of $0.02545. If the pattern continues, the price of VET might reach the resistance level of $0.03322. If the trend reverses, then the price of VET may fall to $0.02361, and $0.02071. VeChain (VET) Support and Resistance Levels The below chart shows the support and resistance level of VET. From the above daily time frame, we can interpret the following as the resistance and support levels of VET. Resistance Level 1 $0.02667 Resistance Level 2 $0.03366 Resistance Level 3 $0.04358 Resistance Level 4 $0.06823 Support Level 1 $0.02025 VET Resistance & Support Level The charts show that VET has performed a bullish trend over the past month. If this trend continues, VET might run along with the bulls overtaking its resistance level at $0.06429. Accordingly, if the investors turn against the crypto, the price of the VET might plummet to almost $0.01284, a bearish signal. Comparison of VET with BTC, ETH The below chart shows the price comparison between Bitcoin, Ethereum, and VeChain (VET). From the above chart, we can interpret that the trend of VET is more similar to that of BTC. Though the three cryptos seem to move in a similar trend, the trend of VET slightly differs from that of ETH. Notably, when the price of BTC increases, the price of VET also increases. And when the price of BTC decreases, the price of VET also decreases.
Long
by TheNewsCrypto
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