Ethereum Price
Ether price stalls at $1,630 after gaining 50% in under a week
Price action across the cryptocurrency market was largely subdued on July 21, as traders took a day to digest gains over the past week and book profits following the biggest relief rally since early June. Amid speculation about what drove the recent rally, the Ethereum Merge has consistently ranked at the top of the list. The market rally shifted into high gear after a tentative date of Sept. 19 was set for the mainnet Merge. Data from Cointelegraph Markets Pro and TradingView shows that after hitting a high of $1,620 on July 20, Ether’s (ETH) price retraced to a low of $1,463 in the early trading hours on July 21 and has since climbed back above support at $1,500. ETH/USDT 1-day chart. Source: TradingView Now that the initial price surge brought on by the Merge announcemen...
2018 Ethereum price fractal suggests a $400 bottom, but analysts say the merge is a ‘wildcard’
There’s no rest for the weary during a bear market, and the Crypto Fear and Greed index shows that investor sentiment has been stuck in a state of “extreme fear” for a record 70 consecutive days. As the market looks for a catalyst to reverse the trend, there is little on the horizon besides the Ethereum (ETH) Merge that seems capable of sparking a rally. If that is indeed the case, the market could continue to trend down or sideways until the tentative Merge date of September 19. Data from Cointelegraph Markets Pro and TradingView shows that Ether price remains sandwiched in the trading zone it has been trading in since June 13 and it is currently running into the upper resistance near $1,240. ETH/USDT 1-day chart. Source: TradingView With the Merge still a couple of months awa...
Finance Redefined: Three Arrow Capital and Celsius fall brings a tsunami of sell-off in DeFi
This past week, the decentralized finance (DeFi) ecosystem faced the brunt of the bears fueled by liquidation rumors of Three Arrow Capital (3AC) and Celsius liquidations. MakerDAO decided to cut off Aave (AAVE) from its direct deposit module as a safeguard in light of the possibility that Celsius folds and crashes the price of staked Ether (stETH). Trading firm 8 Blocks Capital called out to platforms holding funds owned by 3AC to freeze the assets as rumors of 3AC’s insolvency stay afloat. Micheal Saylor believes Bitcoin (BTC) and the Lightning Network can solve many of the DeFi ecosystem problems. The top 100 DeFi tokens were hit hard by bears, with the majority of tokens registering multi-month low along with double-digit losses over the past week. Crypto crash wreaking havoc on DeFi p...
Bitcoin price drops to lowest since May as Ethereum market trades at 18.4% loss
Bitcoin (BTC) saw further losses on June 12 as thin weekend trading volumes fueled an ongoing sell-off. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst likens risk asset ‘pump’ to 1929 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting lows of $27,150 on its sixth straight day of downside. With hours to go until the weekly close, the pair was in danger of resuming the losing streak, which had previously seen a record nine weeks of red candles in a row. To avoid that outcome and put in a second “green” close, BTC/USD needed to gain over $2,000 from current spot price, which at the time of writing was $27,400. BTC/USD 1-week candle chart (Bitstamp). Source: TradingView With support levels failing to change the mood thanks to the thinner...
Brandt’s bearish ETH call — But community predicts $3K before Merge
Veteran futures trader Peter Brandt has suggested that the price of Ether (ETH) could drop to as low as $1,268 in the coming month, but the consensus view of 15,500 members of the CoinMarketCap community is that the price will have hit roughly $3,131 by June 30. The Ethereum network is now in the final steps of its long-awaited Merge with the Beacon Chain and transition to proof-of-stake (PoS), with developers confirming on Wednesday that they successfully completed the Ropsten testnet merge. The Ropsten testnet has now been merged! What a historic and thrilling day for the Ethereum community and what a thrilling day for Next up, 2 more public testnet merges and then mainnet The Merge is coming — sassal.eth (@sassal0x) June 8, 2022 While the timeframe has often been subject to delays, the ...
Traders target $1,400 Ethereum price after ETH drops closer to a critical support level
On June 8 the Ethereum network successfully underwent the merge to become proof-of-stake on its Ropsten testnet, but the news had little impact on ETH price. With the Ropsten upgrade now looking more like a buy the rumor, sell the news type of event, most analysts have kept a short-term bearish outlook for Ether price. Let’s take a look. ETH/USDT 1-day chart. Source: TradingView Can Ether escape the head and shoulders pattern? Twitter analyst, “Cactus”pointed out a bearish head and shoulders pattern and questioned whether Ether price would be able to follow the sharp downside that typically follows the completion of the pattern. ETH/USD 1-week chart. Source: Twitter Cactus said, “This is what we are getting excited about? Hard to be bullish any t...
Ethereum’s Merge FOMO isn’t priced in, making a spike to $2.6K a possibility
In a May 30 tweet, Ethereum (ETH) core developer Tim Beiko confirmed that the much-anticipated Ropsten testnet trial of the Merge from proof-of-work to proof-of-stake can be expected “around June 8 or so.” Interestingly, Ether’s price action is relatively unchanged despite the unexpected bullish announcement. There was a +10% spike on May 30, but those gains were given back between May 31 and June 2. It is very likely that the Merge — currently anticipated in August — has yet to be priced in, giving traders and investors a possible early entrant advantage. It’s essential to monitor on-chain data From an investing and trading viewpoint, cryptocurrency markets have a distinct disadvantage in comparison with regulated markets and transparency. The stock market is chock full of legally r...
Ethereum price moves toward $2,000, but analysts say it’s just another ‘relief rally’
On May 30, the cryptocurrency market experienced a much-needed bounce that saw Bitcoin (BTC) climb above $30,900 and Ether (ETH) rally 5.84% to $1,930, but analysts warn that it could be too early to expect a reversal. ETH/USDT 1-day chart. Source: TradingView Here’s a look at what several analysts are saying about the outlook for Ether moving forward and the major support and resistance levels to keep an eye on. A bounce off of major support The May 30 bounce in Ether came as “no surprise” to market analyst and pseudonymous Twitter user Rekt Capital, who posted the following chart, stating that “It’s more about how much #ETH will move from here.” ETH/USD 1-month chart. Source: Twitter Rekt Capital said: “Technically, #Ethereum could rally to as high as ~$2269 to flip it into new res...
Falling wedge pattern points to eventual Ethereum price reversal, but traders expect more pain first
The cryptocurrency market was hit with another round of selling on May 26 as Bitcoin (BTC) price dropped to $28,000 and Ether (ETH) briefly fell under $1,800. The ETH/BTC pair also dropped below what traders deem to be an important ascending trendline, a move that traders say could result in Ether price correcting to new lows. ETH/USDT 1-day chart. Source: TradingView Here’s a rundown of what several analysts in the market are saying about the move lower for Ethereum and what it could mean for its price in the near term. Price consolidation will eventually result in a sharp move A brief check-in on what levels of support and resistance to keep an eye on was provided by independent market analyst Michaël van de Poppe, who posted the following chart showing Ether trading near its range ...
Smart money is accumulating Ethereum even as traders warn of a drop to $2.4K
The upcoming Ethereum merge is one of the most widely discussed topics in the crypto sector and analysts have a wide range of perspectives on how the transition to proof of stake could impact Ether’s price. ETH/USDT 1-day chart. Source: TradingView Whales accumulate ahead of the merge A deeper dive into the ongoing accumulation of Ether by whale wallets was provided by cryptocurrency intelligence firm Jarvis Labs, which posted the following chart looking at the percentage change in whale wallet holdings versus ET price. Ether whale holding change. Source: Twitter The color of the dots relates to the price of Ether, with the chart showing that whale wallets began decreasing their holdings when the price was above $4,000 and they didn’t start to reaccumulate unti...
Altcoin Roundup: Analysts give their take on the impact of the Ethereum Merge delay
The rollout of Ethereum 2.0, or Eth2, includes a transition from proof-of-work to proof-of-stake that will supposedly transform Ether (ETH) into a deflationary asset and revolutionize the entire network. The event has been a trending topic for years and while anticipation for “The Merge” has been building over the past couple of months, this week Ethereum core developer Tim Beiko informed the world that “It won’t be June, but likely in the few months after. No firm date yet.” Delays in Ethereum network upgrades are nothing new and so far, the immediate effect on Ether’s price following the revelation has been minimal. Here’s what several analysts have said about what the merger means for Ethereum and how this most recent delay could affect ETH price moving forward. Staking Rewards ex...
‘People should invest in all of the major layer-1s,’ says a veteran trader
Scott Melker, veteran trader and pocaster, is convinced that major layer-1 protocols should be part of everyone’s investment portfolio. Instead of picking individual crypto projects, such as NFTs or blockchain games, Melker thinks it makes more sense to bet on the blockchain infrastructure on which these projects are built. “Any of these small projects could absolutely go nuts. But you’re going to have trouble choosing what they are. You should just own the layer-1 and the infrastructure that they’re all built on,” he said in an exclusive interview with Cointelegraph. “You may not own a Bored Ape, but Ethereum holders have certainly benefited from the success of Bored Apes!” he pointed out. Talking about his portfolio construction, Melker revealed that about 6...
