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Is ETH in Danger of Falling to $3K or Will the Bulls Wake Up?
The Daily Chart
A closer look at the daily chart shows that Ethereum has reached a pivotal support region after a brief consolidation correction stage. This region encompasses the price range between the 0.5 ($3421) and 0.618 ($3289) Fibonacci levels, aligning with the substantial support of the 100-day moving average ($3412). T
The alignment of these support indicators highlights the strength of this critical level and the prevailing demand at this juncture, which could halt further downward pressure.
A battle between buyers and sellers is expected at this pivotal price range, leading to heightened market volatility and potential liquidations. The outcome will likely determine Ethereum’s upcoming trend. If sellers overcome buyers and breach this crucial support region, a cascade toward the 200-day moving average at $2996 will be imminent.
The 4-Hour Chart
On the 4-hour chart, Ethereum formed a head and shoulders pattern, resulting in increased selling activity and a break below the pattern’s neckline.
This development and a bearish divergence between the price and the RSI indicator have heightened bearish momentum, leading to a significant downward movement. Following this, Ethereum has formed a descending flag pattern, a well-known bullish continuation pattern if breached from the upper boundary.
Currently, the price is hovering around a critical and decisive support region marked by the 0.5 ($3420) to 0.618 ($3289) Fibonacci retracement levels and the flag’s lower boundary. This area is experiencing intensified volatility and fluctuations.
If sellers break down this crucial support, an impulsive downtrend targeting the $2.9K support is expected. Conversely, if sufficient demand returns and shrinks the existing supply, a reversal towards the flag’s upper boundary at $3.6K will likely occur.
$ETH
The Daily Chart
A closer look at the daily chart shows that Ethereum has reached a pivotal support region after a brief consolidation correction stage. This region encompasses the price range between the 0.5 ($3421) and 0.618 ($3289) Fibonacci levels, aligning with the substantial support of the 100-day moving average ($3412). T
The alignment of these support indicators highlights the strength of this critical level and the prevailing demand at this juncture, which could halt further downward pressure.
A battle between buyers and sellers is expected at this pivotal price range, leading to heightened market volatility and potential liquidations. The outcome will likely determine Ethereum’s upcoming trend. If sellers overcome buyers and breach this crucial support region, a cascade toward the 200-day moving average at $2996 will be imminent.
The 4-Hour Chart
On the 4-hour chart, Ethereum formed a head and shoulders pattern, resulting in increased selling activity and a break below the pattern’s neckline.
This development and a bearish divergence between the price and the RSI indicator have heightened bearish momentum, leading to a significant downward movement. Following this, Ethereum has formed a descending flag pattern, a well-known bullish continuation pattern if breached from the upper boundary.
Currently, the price is hovering around a critical and decisive support region marked by the 0.5 ($3420) to 0.618 ($3289) Fibonacci retracement levels and the flag’s lower boundary. This area is experiencing intensified volatility and fluctuations.
If sellers break down this crucial support, an impulsive downtrend targeting the $2.9K support is expected. Conversely, if sufficient demand returns and shrinks the existing supply, a reversal towards the flag’s upper boundary at $3.6K will likely occur.
$ETH
What affects the price of Ethereum (ETH)?
Cryptocurrencies traded on the open market are much like any other asset traders can access on an exchange. ETH - the native cryptocurrency of the Ethereum protocol - is no exception. Its price can be affected by many factors that can be categorized into two. First, there are internal considerations specific to Ethereum. For example, positive developments associated with the protocol can boost the price of ETH, while negative developments can lead to a decline. On the other hand, there are also external factors. For example, many altcoins, including ETH, are affected by Bitcoin price fluctuations. Therefore, if BTC goes into a parabolic bull run, this usually leads to increased investments and inflows into the altcoin sector, positively impacting ETH’s price and vice-versa.
$ETH
Cryptocurrencies traded on the open market are much like any other asset traders can access on an exchange. ETH - the native cryptocurrency of the Ethereum protocol - is no exception. Its price can be affected by many factors that can be categorized into two. First, there are internal considerations specific to Ethereum. For example, positive developments associated with the protocol can boost the price of ETH, while negative developments can lead to a decline. On the other hand, there are also external factors. For example, many altcoins, including ETH, are affected by Bitcoin price fluctuations. Therefore, if BTC goes into a parabolic bull run, this usually leads to increased investments and inflows into the altcoin sector, positively impacting ETH’s price and vice-versa.
$ETH
How to read Ethereum (ETH) Charts?
There are various software solutions and trading tools used to gauge the price of Ethereum on a chart, but the most common one is undoubtedly through a chart with Japanese candlesticks. Every candlestick is a visual representation of a time frame - it can be a second, a minute, an hour, a day, a week, a month, or even a year. Each candle provides specific information, which includes the opening price, the current price, the closing price (the price at which the candle was closed and a new one appeared on the chart), as well as the highest and the lowest point of the price reached during that time frame. In addition to simply looking at the candles, most charting tools also provide additional instruments such as moving average trendlines, Fibonacci retracement levels, Relative Strength Index (RSI), and more.
$ETH
There are various software solutions and trading tools used to gauge the price of Ethereum on a chart, but the most common one is undoubtedly through a chart with Japanese candlesticks. Every candlestick is a visual representation of a time frame - it can be a second, a minute, an hour, a day, a week, a month, or even a year. Each candle provides specific information, which includes the opening price, the current price, the closing price (the price at which the candle was closed and a new one appeared on the chart), as well as the highest and the lowest point of the price reached during that time frame. In addition to simply looking at the candles, most charting tools also provide additional instruments such as moving average trendlines, Fibonacci retracement levels, Relative Strength Index (RSI), and more.
$ETH
Important Ripple v. SEC Update June 18th: Commission Takes a Hit
David Hirsh, Chief of the Crypto Asset and Cyber Unit at the SEC, recently resigned, denying rumors of joining a Solana-based marketplace.His departure comes as the SEC’s lawsuit against Ripple progresses, with the regulator recently lowering its proposed penalty to $102.6 million
#BinanceTournament #altcoins
David Hirsh, Chief of the Crypto Asset and Cyber Unit at the SEC, recently resigned, denying rumors of joining a Solana-based marketplace.His departure comes as the SEC’s lawsuit against Ripple progresses, with the regulator recently lowering its proposed penalty to $102.6 million
#BinanceTournament #altcoins
Important Ripple v. SEC Update June 18th: Commission Takes a Hit
David Hirsh, Chief of the Crypto Asset and Cyber Unit at the SEC, recently resigned, denying rumors of joining a Solana-based marketplace.His departure comes as the SEC’s lawsuit against Ripple progresses, with the regulator recently lowering its proposed penalty to $102.6 million
#BinanceTournament #altcoins
David Hirsh, Chief of the Crypto Asset and Cyber Unit at the SEC, recently resigned, denying rumors of joining a Solana-based marketplace.His departure comes as the SEC’s lawsuit against Ripple progresses, with the regulator recently lowering its proposed penalty to $102.6 million
#BinanceTournament #altcoins
Protocol Village: Polyhedra's Rolls Out 'D-Expander' for ZK Proof Efficiency, Performance
Polkadot's decentralized governance approved the Join-Accumulate Machine (JAM) protocol as the network's future architecture, according to the team: "JAM, a minimalist blockchain concept, will support secure rollup domain-specific chains and offer synchronous composability across services. To encourage development, Web3 Foundation launched the JAM Implementer’s Prize, a 10 million DOT fund (~$64.7M USD), for creating diverse JAM implementations.
Polkadot's decentralized governance approved the Join-Accumulate Machine (JAM) protocol as the network's future architecture, according to the team: "JAM, a minimalist blockchain concept, will support secure rollup domain-specific chains and offer synchronous composability across services. To encourage development, Web3 Foundation launched the JAM Implementer’s Prize, a 10 million DOT fund (~$64.7M USD), for creating diverse JAM implementations.
Protocol Village: Polyhedra's Rolls Out 'D-Expander' for ZK Proof Efficiency, Performance
Polkadot's decentralized governance approved the Join-Accumulate Machine (JAM) protocol as the network's future architecture, according to the team: "JAM, a minimalist blockchain concept, will support secure rollup domain-specific chains and offer synchronous composability across services. To encourage development, Web3 Foundation launched the JAM Implementer’s Prize, a 10 million DOT fund (~$64.7M USD), for creating diverse JAM implementations.
Polkadot's decentralized governance approved the Join-Accumulate Machine (JAM) protocol as the network's future architecture, according to the team: "JAM, a minimalist blockchain concept, will support secure rollup domain-specific chains and offer synchronous composability across services. To encourage development, Web3 Foundation launched the JAM Implementer’s Prize, a 10 million DOT fund (~$64.7M USD), for creating diverse JAM implementations.
#Market_Update #MarketWatchMay2024
The biggest cryptocurrencies fell during the European morning, extending the subdued mood after the Federal Reserve trimmed interest-rate cut expectations on Wednesday. Bitcoin and ether both fell by around 1% over 24 hours, CoinDesk Indices data show. Bitcoin dropped to just below $66,000 – near the low end of the $72,000-$65,000 range it's been trading in for the past month – and ether was quoted around $3,500.
The CoinDesk 20 Index (CD20), a measure of the broader crypto market, fell about 1.8%. Markets in many countries are closed for Islam's Eid al-Adha festival. Meme coins led declines, with SHIB losing 3.5% and DOGE dropping 1.7%.
U.S.-listed bitcoin miners reached a record market cap of $22.8 billion on June 15, JPMorgan said in a report. The bank noted that almost all the companies outperformed bitcoin in the first two weeks of June, with Core Scientific the best performer, adding 117%, and Argo Blockchain the worst, dropping 7%.
The world’s largest cryptocurrency fell 3% in the same period. Bitcoin mining stocks gained in the first half of the month as investors reacted positively to news of Core Scientific’s deal with artificial intelligence firm CoreWeave, the report said. Mining difficulty also extended its fall since April's reward halving.
The Financial Stability Board (FSB) said it will undertake further work on the challenges posed by stablecoins in emerging and developing economies. The decision was taken during a meeting in Toronto of the FSB's plenary, the sole decision-making body of the standard-setting and advisory organization, according to a Friday statement. The FSB has been one of the main architects of global crypto policy. Last year, along with the International Monetary Fund, it framed a joint policy paper on crypto, warning against implementing blanket bans to mitigate risks associated with the sector. At last week's meeting, FSB members discussed areas that "warrant further attention" in the industry.
$BTC
$SOL
The biggest cryptocurrencies fell during the European morning, extending the subdued mood after the Federal Reserve trimmed interest-rate cut expectations on Wednesday. Bitcoin and ether both fell by around 1% over 24 hours, CoinDesk Indices data show. Bitcoin dropped to just below $66,000 – near the low end of the $72,000-$65,000 range it's been trading in for the past month – and ether was quoted around $3,500.
The CoinDesk 20 Index (CD20), a measure of the broader crypto market, fell about 1.8%. Markets in many countries are closed for Islam's Eid al-Adha festival. Meme coins led declines, with SHIB losing 3.5% and DOGE dropping 1.7%.
U.S.-listed bitcoin miners reached a record market cap of $22.8 billion on June 15, JPMorgan said in a report. The bank noted that almost all the companies outperformed bitcoin in the first two weeks of June, with Core Scientific the best performer, adding 117%, and Argo Blockchain the worst, dropping 7%.
The world’s largest cryptocurrency fell 3% in the same period. Bitcoin mining stocks gained in the first half of the month as investors reacted positively to news of Core Scientific’s deal with artificial intelligence firm CoreWeave, the report said. Mining difficulty also extended its fall since April's reward halving.
The Financial Stability Board (FSB) said it will undertake further work on the challenges posed by stablecoins in emerging and developing economies. The decision was taken during a meeting in Toronto of the FSB's plenary, the sole decision-making body of the standard-setting and advisory organization, according to a Friday statement. The FSB has been one of the main architects of global crypto policy. Last year, along with the International Monetary Fund, it framed a joint policy paper on crypto, warning against implementing blanket bans to mitigate risks associated with the sector. At last week's meeting, FSB members discussed areas that "warrant further attention" in the industry.
$BTC
$SOL
PoliFi Tokens Down Double Digits on Claims DJT Token Has Trump's Backing
If reports about DJT are true, this would be the first time a presidential candidate from a major party created a cryptocurrency. That appears to be a big "if.
If reports about DJT are true, this would be the first time a presidential candidate from a major party created a cryptocurrency. That appears to be a big "if.
FTX Victims View Bankruptcy Process as 'Second Act of Theft,' File to Recover $8B in Forfeited Assets
Attorneys for the victims said the bankruptcy process has left FTX customers feeling "aggrieved and robbed."
#MarketUpsAndDowns
Attorneys for the victims said the bankruptcy process has left FTX customers feeling "aggrieved and robbed."
#MarketUpsAndDowns
Alliances Show The Web3 Revolution Is Unstoppable With Robinhood, Secret Network, And Tezos
Dogecoin Bulls See $60M Liquidations in Biggest Hit Since 2021
Bullish bets on dogecoin (DOGE) futures saw $60 million in long trades liquidated, more than for bitcoin (BTC) futures.
The liquidations occurred as DOGE prices dropped over 10%, reflecting broader market sell-offs and a bearish sentiment in the crypto market.
$DOGE
Bullish bets on dogecoin (DOGE) futures saw $60 million in long trades liquidated, more than for bitcoin (BTC) futures.
The liquidations occurred as DOGE prices dropped over 10%, reflecting broader market sell-offs and a bearish sentiment in the crypto market.
$DOGE
Dogecoin Bulls See $60M Liquidations in Biggest Hit Since 2021
Bullish bets on dogecoin (DOGE) futures saw $60 million in long trades liquidated, more than for bitcoin (BTC) futures.
The liquidations occurred as DOGE prices dropped over 10%, reflecting broader market sell-offs and a bearish sentiment in the crypto market.
$DOGE
Bullish bets on dogecoin (DOGE) futures saw $60 million in long trades liquidated, more than for bitcoin (BTC) futures.
The liquidations occurred as DOGE prices dropped over 10%, reflecting broader market sell-offs and a bearish sentiment in the crypto market.
$DOGE
Why is XRP Up Today: Top Ripple Price Predictions to Watch
Ripple’s XRP defied negative market conditions, rising 1% in the past 24 hours and 3% over the week, outperforming BTC, ETH, and BNB.Analysts see potential for a significant XRP bull run, with some predicting prices between $0.75 and $20, supported by technical patterns and historical market performance.
$XRP
Ripple’s XRP defied negative market conditions, rising 1% in the past 24 hours and 3% over the week, outperforming BTC, ETH, and BNB.Analysts see potential for a significant XRP bull run, with some predicting prices between $0.75 and $20, supported by technical patterns and historical market performance.
$XRP
Shiba Inu Burn Rate Skyrockets by 12,000% but SHIB Price Tanks
Shiba Inu’s burn rate surged over 12,000% in the past 24 hours, but the SHIB price is down 10% daily.The layer-2 scaling solution Shibarium saw a sharp increase in activity, indicating growing interest and community support.
$SHIB
Shiba Inu’s burn rate surged over 12,000% in the past 24 hours, but the SHIB price is down 10% daily.The layer-2 scaling solution Shibarium saw a sharp increase in activity, indicating growing interest and community support.
$SHIB
BTC Bears Eye $60K Following Today’s Sudden Drop: Bitcoin Price Analysis
The price has been forming a falling wedge pattern on the 4-hour timeframe. It recently tested the lower boundary of the pattern around the $65K zone.
A breakout above this well-known formation could initiate a rally toward higher prices and even a new all-time high. However, if it breaks down, the decline could be aggravated, and a flash crash toward $60K would be expected
$BTC
The price has been forming a falling wedge pattern on the 4-hour timeframe. It recently tested the lower boundary of the pattern around the $65K zone.
A breakout above this well-known formation could initiate a rally toward higher prices and even a new all-time high. However, if it breaks down, the decline could be aggravated, and a flash crash toward $60K would be expected
$BTC
DOT Crashes by 8% Weekly but is a Bear Trap Possible?
$DOT
Polkadot has seen a lack of demand and intensified selling activity, indicating a bearish sentiment in the market. A sudden breach below the crucial $6 support region has occurred, triggering a cascade of long liquidations and potentially leading to a sustained bearish trend unless it turns out to be a false breakout.
$DOT
Polkadot has seen a lack of demand and intensified selling activity, indicating a bearish sentiment in the market. A sudden breach below the crucial $6 support region has occurred, triggering a cascade of long liquidations and potentially leading to a sustained bearish trend unless it turns out to be a false breakout.