ETH/BTC pair has failed to hold line gain strength, this points to a giant loss of ETH in BTC terms and everything on Ethereum.
With Solana out to send stable coins cheaply, the SEC declaring ETH a security, ETH will likely never got a Spot ETF thus never catching up to BTC's Spot ETF Inflows.
This is where Staked Ethereum takes a loss they never thought possible.
Since entire crypto markets experiences a huge volatility & shake out due the BTC having event this April month, ETH does not have clear direction. So wait for breakout. Key area for support is near 3050 - 3000 and first key resistance is near 3500 zone.
After huge pumps in crypto market we will have a little correction
Ethereum price today is $1.6k with a 24-hour trading volume of 14.4 billion dollars
on June we had a crazy Volume for eth and whales buys the dip which is a very good sign for eth price in future
Eth under 1k is a most buy and 1k-2k is a dip for eth, as you can see in weekly time frame eth trys...
ETHEREUM surged from 2400 to 3000 in span of ETF and bullish momentum. ETH is expected to rebound at least 20% - 30% from here.
targets
2800
2650
2500
2200
stop 3080
While approaching the 30% target with a 9% stop, we are entering areas that increase the likelihood of a correction. The price correction could continue down to around $2670; exercise caution if considering buying.
After a rally and the price gets stuck in a channel, it is expected that the price can grow as much as the previous rally after exiting the channel.
R/R=3.5 and safe for long
I still watch this pair every day even though I dislike the entire Ethereum ecosystem.
But we have seen the triangle pattern wick down indicating strength is dropping by too much from the BTC price flows, this pattern has been forming since 2016 that is 8 years!.
And please not this is before the Spot ETF flows has commenced, I don't really see a way Ethereum...
Great spot for a very small speculation entry.
Normally when price consolidates like this it is a balance between the demand / supply in the open market, problem is once it sways to one direction it will be violent.
I still see the possibility that BTC hitting a supply shock to over $140,000 will destroy this pair harder than what happen with LTC/BTC.
(note)...
👋Hi, everyone. I hope you have a great weekend.🥳
📈Today, I am going to analyze Ethereum(ETH) for you; since more than 80% of the Tokens in the cryptocurrency market are on the Ethereum network , I hope this analysis will give you a good insight into investing in Ethereum(ETH)and other tokens .
✅Ethereum(ETH) reacts well to the 🔴 Heavy Resistance...
I have been critical on Ethereum due to a terrible fee model, yield coming from nowhere, countless fraudulent ecosystems run on it.
But Ethereum seems to be getting Spot ETF interest from institutions? they're not stupid and my only guess is they want majority control (consensus) over a network in the future and you cannot do this on Bitcoin.
Just as Bitcoin...
Bitcoin has shown a bounce and accumulation.
Ethereum has shown No new accumulation even with the Futures ETF launch.
Does this end up taking down the BTC Price? No I suspect the opposite will happen as people bail "Alt coins" "NFTs" "Web3" into all converting to Bitcoin Maxi's when the Ethereum price fails to grow and Bitcoin's price grows.
RSI / MACD does not...
Just thought I would leave this here to see how it evolves as I don't look at Ethereum much besides the utility of stablecoins.
In the past months Bitcoin has hit a macro bottom and completed a pretty good bounce roughly 90% indicating true accumulation + interest and this is before the Spot ETF's had been announced.
Ethereum on the other hand had actually...
Traders,
We have what appears to be an inverse H&S pattern playing out. The right shoulder still has not completely formed, so this is admittedly an early entry and more risky. But with Bitcoin holding it's supports nicely for over a week among other positive indicators, I'll take my chances here.
I bought at the 50 day ma for $1,837. The R/R is 3.37. Final...
Traders,
Admittedly, I may still be a bit skittish in this bear market. Maybe I am being too cautious? But with tomorrow's Shanghai upgrade on Ethereum happening tomorrow in which millions of Eth will be unlocked AND with this latest candle forming what could end up being a bearish shooting star, I am happy to take my profits here and wait it out.
Closing this...
Quick update on the daily. More liquity was added now, look even more bullish sentiment, the RSI descending trendline was broke over and restested and looks to move up from here. I’m seriously seeing a huge move here. ETH Genesis whales may be able to buy up the float here. The lack of Liquidity below $0.09 was halting rising prices. Keep watching…
