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ETH to form a pullback situation and riseEthereum's open interest is $6.38 Billion. As per Coinglass, another crypto analysis website, it rose by 1.63% in the previous session. The long versus short ratio for 24 hours is 0.9814. The short liquidation is $7.34 Million versus $14.69 Million for the long liquidation. What Can Ethereum Price Prediction (ETH) Be, Based On Technical Analysis? An analyst, Yoddha, optimistically states that Ethereum is one of the most bullish altcoins and has already traded above the previous yearly high. He also highlighted the drawing where he presented that in the last time cycle, when the previous high was breached around 2020, the price boomed and formed a new peak. So, By the shared drawing, the analyst highlights a possible bullish run. Similarly, based on the analyst tweet, the ETH asset daily chart shows that it has remained above the 50-day and 200-day EMAs, portraying bullish strength in the long term. The past price structure shows that ETH has been trying to form a pullback for a more significant rally after breaking out of the wedge. The buyers are showing support buildup at the $3500 support level. At press time, the price has traded at $3512 with an intraday surge of +1.28%, with a market capitalization of $421.72 Billion. The volume-to-market cap ratio currently stands at 3.32%, signifying low liquidity, and the market needs more liquidity for a higher ascent. Likewise, despite the fall, the MACD portrays that the price is still bullish territory, above the zero line at 21.5, in a safer zone until it's above the 200-day EMA. The RSI flashed at 45.54, signifying low strength in the momentum, as it has been trying to sustain around 50 median lines. Based on technical tools, the Ethereum crypto could become winning steam by forming a bullish cross and rsi moving above(DYOR). It could continue to climb higher in future sessions. Ethereum Price Forecast! Therefore, for ETH to form a pullback situation and rise, the next goal for the ETH price could be to reach the above levels, such as $3720 and $3900. On the contrary, if the price plunges and trades below the 50-day EMA, then the pullback situation would fail, ETH would lose its bullish significance, and the price would seek lower support in search of a perfect spot to form a pullback. Likewise, in this scenario, if the Ethereum crypto price fails to stay above the $3260 level, it could also decline further to $3060.
BITSTAMP:ETHUSDLong
by Yash_Jain_1309
Chainlink Shiba Inu Ethereum Chainlink (LINK) had been in a decline mode from the $19 resistance and has declined above 20% in the last 14 days. At press time, it has traded at $15.379 with an intraday gain of 1.63%. Shiba Inu (SHIB) is down by 30% in the last 14 days after facing a decline from $0.00002950. At press time, it has traded at $0.00002163 with an intraday gain of 1.75%. Ethereum (ETH) has plummeted from the $3960 peak resistance and its price has been down by more than 9%. At press time, it has traded at $3517.1 with an intraday surge of 1.40%.
BITSTAMP:ETHUSDLong
by Yash_Jain_1309
ETH analysisSupport and resistance—the yin and yang of crypto trading. Let’s dive into the mystical world of ETH (Ethereum) and decipher its price moves like seasoned sorcerers. 🧙‍♂️ Support Spells: These are the invisible safety nets beneath ETH’s feet. When the price stumbles, they whisper, “Fear not, hodler!” Here’s where they lurk: $3,120 Zone: A cozy spot where ETH sips chai and says, “I shall not fall further!” $3,165: The 100-hourly Simple Moving Average—ETH’s trusty sidekick. Resistance Enchantments: These are the force fields above ETH’s head. They fend off bullish ambitions. Look up, my friend: $3,280 Zone: The gateway to moonland. If ETH breaks through, fireworks! $3,800: The mystical number where resistance dances. It’s like a bouncer at a VIP party. Pivot Point Potions: The magical average of high, low, and close prices. Imagine a cauldron stirring: PP (Pivot Point): The center of the spell circle. R1 (1st Resistance): Twice the PP minus the low—ETH’s secret weapon. S1 (1st Support): Twice the PP minus the high—ETH’s safety cloak. Remember, fellow crypto wizards, ETH’s journey is full of twists. So grab your wands (or trading apps) and chant, “Bull or bear, we ride together!” 🚀🔮 #CryptoMagic #ETHPrice #FinancialSorcery
COINBASE:ETHUSD
by vkfincare09
ETH Price Did Not Benefit from the Ether ETF News: Here's WhyETH Price Did Not Benefit from the Ether ETF News: Here's Why Despite the U.S. approval of several ether exchange-traded funds, Bitcoin (BTC) and Ether (ETH) experienced a downturn in their prices over the last 24 hours. The Ethereum crypto dropped by 4% post-approval, epitomizing the classic "sell the news" market reaction. The broader crypto markets including the market leaders Bitcoin (BTC) and Ethereum (ETH) experienced a decline in value amid the positive news approval of Ether ETFs to be listed on the U.S. exchanges. Following the approval, Ether price saw a decline of 4%, reversing a previous 20% increase over a week driven by the anticipated approval and favorable forecasts for the ETFs' listing. Despite the positive news about the approval of spot Ether exchange-traded funds (ETFs) in the United States, the BTC and ETH witnessed a sharp fall. Let's try to look into the activities that led to the selloff and how it was possible to anticipate the fall. A large Chunk Of ETH Transferred to Exchanges Significant transfers of ETH to cryptocurrency exchanges had captured the market's focus in the past. This move sparked discussions about possible profit-taking, adjustments in investment portfolios, or market speculation. Over the last couple of weeks, exchanges saw an influx of over 242,000 CRYPTOCAP:ETH into their wallets, signaling a surge in trading activities that could lead to heightened market fluctuation. Looking at #Ethereum’s balance on exchanges reveals a spike in the tokens available to sell. Over the last two weeks, over 242,000 CRYPTOCAP:ETH have moved to #cryptocurrency exchange wallets. This indicates increased trading activity on exchanges that can contribute to price… pic.twitter.com/vOxV3pkmJq— Ali (@ali_charts) May 24, 2024 Moreover, as per a tweet by Ali Martinez, a technical and on-chain analyst, Jeffrey Wilke, a co-founder of Ethereum, had moved 10,000 CRYPTOCAP:ETH , valued at approximately $37.38 million, to the Kraken exchange. All these flows of Ethereum from different wallets to the cryptocurrency exchange wallets indicated the intention of the large players aiming to book profits amid the ETF news. The large investors seemed to have taken advantage of the news to rebalance their portfolio thus turning the ETF approval a sell the news event. What’s Next For Ethereum? Now that the news has shaken the Ethereum price, it's time to analyze the price chart about what lies ahead for the ETH ahead. as per the daily chart the recent support lies near $3600 above which the bulls may look to defend in the short term. Moreover, on the higher side, the $3850 may act as a supply zone and act as a hurdle for the bulls on the higher side. The price action seems to be sideways and range bounded until the crypto is maintained in these levels.
COINBASE:ETHUSDLong
by Ritika_TCR
1
Will It open the doors to new all-time high pricesAs of press time, Ethereum has traded at $3,812.6 with a market cap of $457.62 Billion. Ethereum’s price is approaching high-time-frame resistance at $4050, and surpassing would lead it toward $4700. after passing the all-time high of $4700, which was built in November 2021, could open the doors to new all-time high prices. On the contrary, situation, if the price faces resistance from the nearest resistance, then the price could test the support levels at $3240.0, and $2850.0.
BITSTAMP:ETHUSDLong
by Yash_Jain_1309
Depends On ETH ETF Approval, Will It Go parablic Like BTCIn terms of an ETH ETF approval, the simple math from the dates of BTC ETF approval and how it performed. The BTC ETF was approved on January 10th, and It could be asserted that in the 63 days following the BTC spot ETF approval it rallied nearly 75% to the upside towards $73,500. Similarly, as per the hypothesis, if the ETH ETF gets approved by SEC, and on applying the similar possible scenario, if this playbook repeats the same percentage upside that bitcoin exhibited, after its approval this would take ethereum to a price at $6,446 in 63 days time.
CRYPTO:ETHUSDLong
by Yash_Jain_1309
A Technical Overview Of ETH Ethereum has a market cap of $446 Billion and is ranked 2nd in the crypto verse. The volume of the ETH has surged by 255% in the last 24 hours. The price of ETH has observed a rise of 20% in the last 24 hours. ETH rise is speculated due to the upcoming approvals of the Spot ETF. ETH is forming strong bullish candles on the daily chart. It is trading above the 50,100 and 200 EMA while looking to cross the new highs. The upside momentum of Ethereum can see a halt near $4000. Meanwhile, the support of the asset price can be observed near $3500 The RSI of ETH is currently at 71 with the strong positive slope suggesting its presence in the oversold zone. The overall sentiment of RSI and MACD are bullish on the daily chart.
COINBASE:ETHUSDLong
by Ritika_TCR
breakout rallies stronglyThe Ethereum price has displayed remarkable fluctuations, initially favoring bulls but shifting to bears. However, recent developments highlight a shift back to bullish sentiment, with a 1.00% rise in price and positive growth in 24-hours trading volume with a 32.59% optimism. An analyst, Redblack officials, Tweeted with the bullish sentiment on X platform, that a breakout has taken place out of a falling wedge pattern on the daily chart. Similarly, based on the analyst tweet, the ETH asset daily chart shows that it has been increasing from support and it remains above the 200-day EMAs, which portrays bullish strength in the long term. Likewise, the MACD portrays a bullish cross, with a rising histogram in ETH at -27.0, and the RSI flashed at 51.48. It portrayed that the crypto is not a losing steam yet and could continue to climb higher in future sessions. Therefore, if the breakout rallies strongly, then the next goal for the ETH price could be to reach the levels above, such as $3355.0 and $3725.0. On the contrary, the tweet also stated that if the price plunges and trades inside the pattern again, the bullish pattern would lose its significance and would be invalid. Likewise, in this scenario, if the Ethereum crypto price fails to stay above the $2855.0 level, it could decline further,as well.
BITSTAMP:ETHUSDLong
by Yash_Jain_1309
#Ethereum Super Bullish Elliott Wave Analysis Towards $10,000#Ethereum Super Bullish Elliott Wave Analysis Towards $10,000 Target 1️⃣ ((C)) Zigzag Pattern: On the ETH/USDT 1D chart at the cycle degree, wave ((C)) of a Zigzag pattern appears to be unfolding. The projected target for this wave is $3,250. 2️⃣ Diagonal Wave 4: On the $ETH1D chart at the primary degree, Wave 4 down of an ascending Diagonal is currently in progress. The anticipated target for this corrective wave is $3,050. 3️⃣ Diagonal Wave [ ]: On the #ETH 1D chart at the Supercycle degree, Wave [ ] of an ascending Diagonal seems to be developing. The projected target for this significant wave is between $9,000 and $10,000. Please Correct if I'm Wrong & Must Appreciate if you Happy with My Analysis. Thank you Family. Stay informed with our detailed technical analysis.
GEMINI:ETHUSDLong
by CryptoPatel
#Ethereum Eyes Retest: #ETH/USDT Key Levels to Monitor#ETH/USDT situation, focusing on the potential retest levels due to decreasing volume and the formation of a bearish shark pattern: #ETH/USDT Analysis: Decreasing Volume and Bearish Shark Pattern Indicate Potential Retest Levels ### Decreasing Volume Volume is a crucial indicator of market strength. When the price of an asset rises while the trading volume decreases, it often suggests that the upward momentum is losing steam. In the case of ETH/USDT, the decreasing volume indicates that the buying pressure is weakening, which may limit the potential for reaching higher price targets. ### Bearish Shark Pattern The bearish shark pattern is a harmonic pattern that signals a potential reversal or correction in the price of an asset. This pattern typically consists of five points labeled as O, X, A, B, and C, and follows specific Fibonacci retracement and extension levels. For ETH/USDT, the formation of a bearish shark pattern suggests that the price is likely to face resistance and could be due for a retest at lower support levels. The bearish shark pattern, combined with the decreasing volume, strengthens the case for a potential pullback. ### Potential Retest Levels Given these technical indicators, ETH/USDT might retest certain key support levels: 1. **Retest Around $3,030** - This level has acted as a significant support in recent trading sessions. If Ethereum's price retraces, it is likely to find initial support around $3,030. If the price manages to hold at this level, we might see a temporary bounce or consolidation. 2. **Retest Around $3,025** - If the $3,030 support level fails to hold, the next critical support level to watch is around $3,025. This level has historical significance and could act as a stronger support. A retest at this level would be crucial in determining whether ETH/USDT will stabilize or continue its downward trend. #Conclusion #ETH/USDT is currently showing signs of potential weakness with decreasing volume and the formation of a bearish shark pattern. Traders should be prepared for possible retests at $3,030 and $3,025. Monitoring key technical indicators and market sentiment will be crucial for making informed trading decisions during this period.
BINANCE:ETHUSD.P
by crypto_vulture_signals
MACD exhibits a bullish crossAn analyst captain Faibik on Tweeted with bulliosh sentiment on X platform, that a breakout is anticipated in wedge pattern and it could send it to $4000 price mark. Similarly, on observing the analyst tweet, the ETH asset daily chart depicts that, it has been rising steadily and firmly, from support as it remains above the major 200-day EMAs, indicating bullish strength on the long term. Likewise, the MACD exhibits a bullish cross, with a growing histogram in ETH at -42.9, and the RSI flashed t 52.70, which has been signifying that the asset is not losing its steam yet and could continue to climb higher in future sessions. Therefore, if the breakout persists, the next goal for the ETH price could be to reach the above levels, such as $3350.0 and $3720.0. However, if the Ethereum crypto price fails to stay above the $2850.0 level, it could decline further.
BITSTAMP:ETHUSDLong
by Yash_Jain_1309
#ETH/USDT Rebound: Analyzing the Recent Price SurgeThe #ETH/USDT pair has recently displayed a bullish divergence, a key technical indicator suggesting a potential trend reversal. This divergence, coupled with the breakout of a significant trend line, has ignited bullish momentum in the market. Currently, the price is undergoing a retest of two critical levels at $3065 and $3220. The successful breach of these levels could pave the way for a new all-time high for Ethereum. One major catalyst for this bullish outlook is the anticipation of #ETF approval for Ethereum. If approved, this could attract significant institutional investment, further driving up the price of #ETH. It's essential to monitor price action around these levels closely, as a decisive move above them could signal a sustained bullish trend for Ethereum.
BINANCE:ETHUSD.PLong
by crypto_vulture_signals
#ETH/USDT Bulls in Control#ETH/USDT pair has recently formed a double bottom pattern, finding significant support within a crucial trend box area. This pattern suggests a potential reversal of the previous downtrend and signifies a bullish sentiment in the market. With the double bottom formation in place, Ethereum is likely to experience upward momentum, aiming to retest the $3000 resistance level. Traders and investors are closely monitoring this development, anticipating a continuation of the bullish trend as Ethereum moves towards challenging key resistance levels. This pattern highlights a shift in market sentiment, with buyers gaining confidence and driving the price higher in anticipation of further gains.
BINANCE:ETHUSD.PLong
by crypto_vulture_signals
ETH asset price remains highThe ETH crypto is experiencing a surge of 0.27% in the last 24 hours, trading at $3044.3. The price action shows a falling wedge scenario, and bears are failing at $3000 support. Therefore, if the demand for the ETH asset price remains high, it could bounce back from the current level. The next goal for the price could be is to break out and reach targets like $3350.0, and $3650.0. However, if the ETH crypto price fails to stay above the $3000.0 level, it could decline further, which could trigger a downtrend.
BITSTAMP:ETHUSDLong
by Yash_Jain_1309
#ETH/USDT Rebounds Strongly: Golden Ratio at Play#ETH/USDT has formed a double bottom pattern and is currently bouncing from the golden ratio (0.618 Fibonacci retracement level), indicating a strong support level. The next significant resistance level is around $3350. If Ethereum manages to break above this resistance, we could see a further upward movement towards the $4000 mark. The double bottom pattern is a bullish reversal pattern, suggesting that the price could continue to rise after a period of consolidation or decline. The bounce from the golden ratio adds to the bullish case, indicating that buyers are stepping in at key technical levels. However, it's essential to monitor the price action closely, as a failure to break above the $3350 resistance could lead to a retest of the support levels. Traders should also consider other factors such as market sentiment, news events, and overall market conditions when making trading decisions.
BITSTAMP:ETHUSD
by crypto_vulture_signals
ETH experienced growth recentlyIn recent times, the Ethereum network had experienced significant changes, with its price structure also showing notable fluctuations in line with the overall market. The recent Dencun upgrade, also called Cancun-Deneb, was rolled out a couple of weeks ago on Ethereum (ETH) with the aim of enhancing the functionality and performance of the network, (which includes scalability, efficiency, and security), by introducing several improvement proposals (EIP). Nevertheless, after this improvement, the value of Ethereum (ETH) has dropped, nearing the $3,000 price threshold. Despite the descending wedge pattern and a lower low structure, ETH experienced growth recently, with a 0.48% increase over the past day. As of the time of writing, ETH is priced at $3,077.5, as per Trading View data. ETH has experienced a 34.07% increase since the beginning of the year, as well as a 28.96% rise in the past three months, and has recently surpassed the $3,000 mark again. Based on the analysis, ETH is projected to hit a target of $3,240 and a higher target of $3,370 depending on buyer backing. Not rising could benefit bears, resulting in price declines to $2,895 and $2,740, respectively.
BITSTAMP:ETHUSDLong
by Yash_Jain_1309