According to CryptoPotato, technical analysis by analyst Shayan shows that after a rapid decline, Ethereum has found support in an important area. This area includes the 100-day moving average and the key price range between the 0.5 and 0.618 Fibonacci levels. Therefore, a bullish rebound is expected in the medium term. A deeper inspection of the daily chart reveals a long period of corrective pullback, and finally the price found support in a key area. This area includes the 100-day moving average at $3050 and the important price range between the 0.5 ($3190) and 0.618 ($2972) Fibonacci levels. The importance of this range is that it attracts a lot of demand, which may prevent further downward pressure from sellers in the market. In addition, a small bullish divergence between the price and the RSI indicator hints at the possibility of a bullish recovery with the goal of retaking the $3.5K threshold. However, despite the bullish signs, an unexpected breakout of this key support area may trigger a waterfall effect towards the 200-day moving average at $2.5K. #以太坊 #ETH🔥🔥🔥 $ETH

ETH’s daily bullishness and bearishness (December 11, 2023)

ETH (Ethereum)

💰Good news:
Price Stability and Growth: Ethereum remains strong above $2,300 and has recently recorded a 10% growth.
Positive market sentiment: Ethereum price has increased by 12% in the past seven days and market sentiment is positive, with a score of 61/100.
Options Market Data Points to Optimism Ahead: Options market data for Ethereum suggests that 2024 could be off to a very optimistic start for ETH.
Technology development prospects: Ethereum’s Layer-2 network Blast has reached a total locked value (TVL) of $837 million, showing the potential of its technology development.

💧Bad news:
The market is highly competitive: Ethereum faces stiff competition from rivals such as Solana, especially in terms of NFT transaction volume, which recently surpassed Ethereum in transaction volume.
Slow new user growth: Despite rising prices and increasing stakes from major investors, Ethereum’s network has seen slow growth in new users.
Price Volatility Risk: Market analysis suggests that Ethereum may face significant volatility after reaching certain price points, which increases investor risk.

🎈Overall judgment on December 11, 2023:
Overall, ETH has shown a certain positive trend recently. Key positive factors include its price stability and growth, positive market sentiment, and strong potential for technological development. However, fierce market competition, slow new user growth, and the risk of price fluctuations are also factors that need to be considered. Although there is some uncertainty, the current favorable factors appear to have a strong positive impact on market sentiment.

#ETH. #cryptotrading #以太坊 #以太坊坎昆升级

These altcoins could earn $100,000 after Bitcoin halving

The Bitcoin halving will take place in April, approximately four years after the last halving event. Unlike other similar events, BTC hit an all-time high in the weeks leading up to the 2024 halving as a Bitcoin ETF was approved in the United States. The subsequent escalation in investor risk appetite caused by ETFs has supported the upward trend, allowing Bitcoin and major altcoins such as Ethereum (SOL), Solana (SOL), XRP, Shiba Inu (SHIB) and others to reach new heights.
Bitcoin prices peaked at $73,373 for the first time in history, while its market capitalization hit a new record high of more than $1.4 trillion in March.
However, increased profit-taking activity triggered a sharp sell-off that sent BTC prices down to $60,000 last week. As of writing, Bitcoin has significantly regained its losses but is still struggling with resistance at $70,000
Based on Bitcoin’s performance post-halving in the past, investors are concerned about finding the top altcoins to buy to take advantage of the bull run. With some of the leading coins such as Ethereum, Solana, PEPE, and SHIB, the value of the portfolio could easily grow to over $100,000 in 2024.

1. Ethereum (ETH)
The sell-off around mid-March sparked a huge buying opportunity for whales, but that interest appears to have faded this week. After peaking just below $3,700, a fresh wave of profit-taking has swept through Ethereum, capping the uptrend while setting up an ongoing correction.
If the rising wedge pattern is confirmed, Ethereum will trigger another major sell-off towards the $3,200 and $3,000 support areas.
The Moving Average Convergence Divergence (MACD) indicator confirms the bearish outlook, pointing to further declines from its current market cap of $3,527.
The sell-off to $3,000 may not be all bad news, however, as investors can use the opportunity to buy more Ethereum in anticipation of a massive parabolic rally following Bitcoin’s halving.

2. Solana (SOL)
The second half of March saw significant volatility in major cryptocurrencies, including Solana. Bitcoin prices pulled back sharply to $60,000, but rebounded to over $70,000 within two weeks, creating a sense of unpredictability among market participants.However, despite this consolidation, SOL price is still showing opportunities to fuel a directional rally and form a bullish pennant pattern.
Amid the recent market correction, Solana token’s rally from the $210 mark shifted the price trajectory sideways on the 4-hour chart. A consolidation bouncing off two converging trend lines indicates the formation of a technical chart pattern called a pennant.
This bullish continuation pattern occasionally develops within an established uptrend, providing buyers with breathing space to resume bullish momentum. SOL price is currently trading at $181, down 5% intraday and heading towards the pattern’s lower trendline. With a market capitalization of $80.5 billion, Solana Coin continues to be the fifth largest cryptocurrency.

3. PEPE
Pepe is a popular meme-based cryptocurrency that has seen a bullish trend recently, attracting traders and investors with its upward trajectory. However, the latest developments point to rapidly changing market dynamics.
The cryptocurrency has experienced a significant correction; currently, Pepe price is $0.000007708. It fell 6.94%, indicating that market sentiment has turned bearish.
As the Bitcoin halving event approaches, expectations are building for a potential lift across the cryptocurrency space, including Pepe. Meme tokens, along with major cryptocurrencies in the Ethereum and Solana ecosystems, are expected to regain momentum following the recent market correction.
The cryptocurrency market is undergoing a considerable correction, with major players such as Bitcoin and Ethereum both falling below their respective benchmarks of $69,000 and $3,600. This downturn has led to increased selling pressure, further deepening the overall downturn in the market and affecting the broader cryptocurrency landscape.

4. Shiba Inu (SHIB)
Popular canine meme cryptocurrency Shiba Inu is bouncing off support at $0.000024 following a two-week correction from highs of $0.0000458. This positive turn has seen the asset value increase by 30% in a week and is currently trading at $0.00003. A resurgence in the broader market may have influenced the reversal in Shiba Inu prices, with a $0.000045 price target if buyers maintain momentum.
The recent rise in the cryptocurrency market, which saw the price of Bitcoin rise from $60,000 to $70,000, has had a considerable impact on the meme coin industry.Prominent tokens of the asset class Dogecoin, Shiba Inu, PEPE, and FLOKI posted double-digit gains this week, reflecting a resurgence in trader sentiment.
Shiba Inu price bottomed in a corrective trend at $0.00002388 before recovering to the $0.00003 mark. SHIB price gains may intensify following the announcement of a listing on major Australian cryptocurrency exchange Bitcoin.com.au. This development is expected to expand SHIB’s investor base and liquidity in Australia, potentially increasing its adoption and market value.
SHIB price is down 2.4% intraday and is heading back towards the pattern’s lower support trendline. If history repeats itself, the coin price is likely to bounce off rising support and target a 16% rise towards the $0.0000345 resistance, followed by $0.000038. #BTC #以太坊 #SOL🔥🔥🔥🔥

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December 12, 2023
ETH (Ethereum)

good news:
Yearly High: ETH price reached a new yearly high on December 9 at $2,403.
Long-term technical outlook: From a long-term technical perspective, ETH remains strong. In particular, ETH managed to break above the long-term $2,000 horizontal resistance zone, signaling a possible major price increase. Additionally, the weekly relative strength index (RSI) supports the continued upward trend in prices.

Bad news:
Recent sharp decline: ETH fell rapidly after reaching its yearly high, falling as low as $2,145. This decline may have been caused by the liquidation of leveraged long-term positions.
Market Volatility: ETH, along with other major cryptocurrencies, experienced significant volatility at the start of the week, reflecting the instability across the market.
Technical challenges: ETH faces network congestion and high gas fees. Although these problems have been improved to some extent, they still exist and may affect ETH's competitiveness in the future.

Overall judgment on December 12, 2023:
Overall, ETH has shown a certain negative trend recently. While ETH has a strong long-term outlook at a technical level, recent price drops and market volatility suggest short-term pressures. In addition, the ETH network’s technical challenges, such as transaction fees and network congestion, may affect its position amid increasing competition. While the long-term bullish factors remain, near-term uncertainty and technical issues could negatively impact prices. Therefore, judging from recent market dynamics and technical challenges, ETH has shown a relatively obvious negative trend.

#ETH. #以太坊