$BTC



Bitcoin is completely manipulated by the banks and huge institutions. They sent Bitcoin down just to make your Christmas and New Year celebrations bad. But luckily I warned you about this crash a few days ago, just before it happened in my previous analysis, when almost everyone was drunk with strong greed. Bitcoin crashed by 15% so far; altcoins are down by 30% to 70%.

The last days were very profitable, but let's focus on the future, because that's the most important. Bitcoin bounced a bit from 92k to 99k, giving players hope that the bottom is in. But do not be fooled, this looks like a corrective move for multiple reasons.

The first reason is that the crash was extremely fast and strong, pretty much no one expected such a drop in the short term. My Elliott Wave analysis suggests that this is a strong impulse wave 12345 and therefore the start of a larger corrective structure ABC. We have finished wave A, now we are in wave B, and we can expect wave C to finish at around 85k! You want to take a Fibonacci extension, as you can see on my chart.

I strongly recommend waiting for 85k because we have an unfilled FVGAP on the daily chart, and this needs to be tested. Write a comment with your altcoin, and I will make an analysis for you in response. Also, please hit boost and follow for more ideas. Trading is not hard if you have a good coach! This is not a trade setup, as there is no stop-loss. I share my trades privately. Thank you, and I wish you successful trades!

The post Ethereum (ETH) Bearish Signal, $3,500 the Next Target? appeared first on Coinpedia Fintech News

Ethereum (ETH), the world’s second-largest cryptocurrency by market cap, is showing signs of a potential price decline after recent bearish price action. In addition to the price action, whales and industry experts seem to be losing interest in the altcoin, as revealed by the on-chain analytics firms IntoTheBlock and CryptoQuant.

Will ETH Price Decline?

Recently, ETH experienced a price surge of over 15% and hit the $4,100 mark for the first time since March 2024, where it faced selling pressure and a notable price decline. Historically, ETH has reached this level five times, and each time, it has encountered a price decline and significant selling pressure.

Ethereum (ETH) Rising Exchange Reserve

This time, looking at past trends whales and long-term holders appear to continue depositing their ETH to exchanges, as revealed by CryptoQuant’s ETH exchange reserve metrics.

Data shows that exchange reserves have increased by nearly 100k ETH worth $400 million which could signal increased selling pressure as the price nears a six-month high.

Source: CryptoQuant Rising Unstaking Activity

In addition to the rising exchange reserves, whales have begun withdrawing tokens from staking, suggesting they are gradually taking profits due to the recent price surge or indicating a loss of interest in holding ETH long-term.

This is evidenced by the recent activity of Justin Sun, the founder of Tron. On December 16, 2024, the whale transaction tracker Spotonchain shared a post on X (formerly Twitter) stating that Sun’s linked wallet address requested to withdraw 52,905 ETH, worth $209 million, from the staking protocol Lido Finance.

Source: Previously Twitter Ethereum (ETH) Technical Analysis and Key Levels

According to expert technical analysis, ETH appears to be forming a bearish double-top price action pattern at the strong resistance level of $4,100. In addition to the double-top pattern, ETH’s Relative Strength Index (RSI) is falling, indicating a bearish divergence, which further suggests a price decline and increased selling pressure.

Source: Trading View

Based on the recent price action, there is a strong possibility that ETH could decline by 12% to reach the $3,500 level in the future.

Current Price Decline

At press time, ETH is trading near the $3,970 level and has experienced a modest price decline of 0.80% in the past 24 hours. During the same period, its trading volume has soared by 60%, indicating heightened participation from crypto enthusiasts amid the recent price surge.

The ETH/USDT chart highlights a falling wedge pattern, indicating a potential breakout toward $4,156. Bollinger Bands suggest price compression, while ETH holds above the midline, signaling bullish momentum. Stochastic RSI at 22.81 is recovering from oversold levels, hinting at upward movement. The RSI Divergence Indicator at 40.01 shows strengthening bullish sentiment. Volume Profile reveals solid support near $3,825, reinforcing a bullish bias and likelihood of further upward movement.

The TOTAL2 chart shows a significant cup-and-handle pattern on the weekly timeframe, signaling a bullish continuation toward $2T and beyond. Bollinger Bands display expanding volatility, with price holding above the middle band. Stochastic RSI is at 92.78, indicating strong upward momentum. The RSI Divergence Indicator at 69.62 confirms bullish strength. The breakout above the $1.52T resistance aligns with volume support, reinforcing the bullish trajectory for Ethereum and other altcoins.

The Binance ETH/USDT liquidation heatmap indicates concentrated liquidity near the $4,000 level. Bullish sentiment is reinforced by liquidation leverage clusters thinning below current price levels, suggesting upward price momentum.

Entry: 3835.29 or Market Price
1st Tp: 3940.19
2nd Tp: 4076.79
3rd Tp : 4152.75
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$ETH #swap_crypto

Market experts forecast Ether (ETH) could surpass its previous all-time high of $4,865 during the first quarter of 2025. Despite Bitcoin’s groundbreaking surge to $100,000 on December 6, Ether has struggled to stay above the key $4,000 threshold. However, recent market trends suggest Ethereum may soon catch up to Bitcoin’s impressive performance. Leverage Reset Positions …

Continue reading "Ether Set to Hit New All-Time High by Early 2025"

The post Ether Set to Hit New All-Time High by Early 2025 appeared first on Cryptoknowmics-Crypto News and Media Platform.