Ether (ETH) turned down and plummeted below the moving averages on Sept. 13, tilting the short-term advantage in favor of the bears. A minor positive is that the bulls are attempting to defend the support line of the rising wedge pattern. If the price rebounds off the current level and rises above the moving averages, the ETH/USDT pair could rally to the resistance line of the wedge. The bulls will have to push and sustain the price above the wedge to clear the path for a possible rally to $2,030. Alternatively, if the price fails to cross above the moving averages, the likelihood of a drop below the bearish wedge pattern increases. If that happens, the selling pressure could pick up and the pair could drop to $1,422 and later to $1,280. Buyers are expected to mount a strong defense at this level.
September 10, 2022
Ether (ETH) broke above the overhead resistance at $1,700 on Sept. 9 but the bulls are facing stiff resistance at $1,800. This indicates that bears have not given up and they continue to sell at higher levels. The bears will try to pull the price back below the moving averages while the bulls will attempt to defend this support. The 20-day EMA ($1,652) has started to turn up and the RSI is in the positive territory, indicating a minor advantage to buyers. If the price rebounds off the moving averages and rises above $1,800, the ETH/USDT pair could rally toward the overhead resistance at $2,000. Such a move will suggest that the pair may have bottomed out. Alternatively, if the price plummets below the moving averages, the advantage could tilt in favor of the bears. The pair could then decline to the neckline.
August 29, 2022
Ether (ETH) turned down from the 20-day EMA ($1,638) on Aug. 26 and broke below the neckline of the head and shoulders pattern. This completed the bearish setup, indicating that the sellers are in control. However, the bears could not sustain the price below the neckline, indicating buying on dips. The bulls are attempting to push and sustain the price above the neckline and challenge the overhead resistance at $1,700. If they succeed, the ETH/USDT pair could rally to the psychological level of $2,000. Conversely, if the price turns down from the current level or the moving averages, it will suggest that bears are active at higher levels. If the price turns down and breaks below the neckline, the pair could drop to the strong support at $1,280. The bulls are expected to defend this level aggressively but if they fail to do that, the pair could plunge to $1,050.
August 12, 2022
Ether turned down from $1,818 on Aug. 8 but the bears could not sink the price below the 20-day EMA ($1,637). This suggests strong demand at lower levels. The ETH/USDT pair rebounded off the 20-day EMA on Aug. 10 and has cleared the overhead hurdle at $1,818. If buyers sustain the price above this level, the pair could rally to the psychological level of $2,000 and then to $2,200. The rising moving averages and the RSI in the positive territory indicate that bulls have the upper hand. This bullish view will be invalidated if the price turns down and plummets below the 20-day EMA. If that happens, the pair may drop toward the 50-day SMA ($1,388). That could delay the start of the next leg of the up-move.
August 7, 2022
Buyers pushed Ether (ETH) above the overhead resistance at $1,700 on Aug. 5 and the bulls successfully defended the breakout level on Aug. 6 and 7. Buying resumed on Aug. 8 and the bulls pushed the price above the overhead resistance at $1,785. If bulls sustain the price above $1,785, the ETH/USDT pair could pick up momentum and rally to the psychological level at $2,000. This level may attract selling by the bears but if bulls arrest the next decline above $1,700, the likelihood of a break above $2,000 increases. If that happens, the pair could rally to the downtrend line. This positive view could invalidate in the short term if the price turns down and breaks below the 20-day EMA ($1,606). The pair could then slide to the 50-day SMA ($1,362).
August 1, 2022
Ether (ETH) is witnessing a tough battle between the bulls and the bears near the important level at $1,700. Although the bulls repeatedly pushed the price above this level in the past four days, they could not continue the up-move. The bears will try to pull the price to the 20-day EMA ($1,525) which is an important level to watch out for. If the price rebounds here, it will suggest that the sentiment has turned positive and traders are buying on dips. That could increase the likelihood of a break above the $1,700 to $1,785 resistance zone. If that happens, the ETH/USDT pair could rise to $2,000 and later to $2,200. Conversely, if the price breaks below the 20-day EMA, it will suggest that the pair may remain range-bound between $1,280 and $1,785 for a few days.
July 13, 2022
Ether (ETH) broke below the support line of the ascending triangle pattern on July 12, which invalidated the bullish setup. A minor positive is that the bulls are trying to push the price back into the triangle. If they manage to do that, it will suggest that the break below the triangle may have been a bear trap. The bulls will then strive to push the price back above the overhead resistance at $1,280. A break and close above the 50-day SMA ($1,383) could enhance the prospects of the start of a new up-move. Contrary to this assumption, if the price turns down from the support line, it will suggest that bears have flipped the level into resistance. The sellers will then try to sink the ETH/USDT pair below $998 and challenge the pivotal support at $881. If this support cracks, the pair could start the next leg of the downtrend.
July 5, 2022
Ether (ETH) slipped below the psychological level at $1,000 on June 30 but the bears could not capitalize on this weakness. This suggests that bulls are buying on dips. The bulls will now try to push the price above the 20-day EMA ($1,192) and gain the upper hand. If they do that, the ETH/USDT pair could rise to $1,280 and then to the 50-day SMA ($1,535). This level could again act as a strong resistance. The bulls will have to propel the price above $1,700 to signal the start of a new up-move. Conversely, if the price turns down from the 20-day EMA, it will suggest that the sentiment remains negative and bears are selling on rallies. The bears will then try to sink the price below $998 and challenge the critical support at $881.
June 16, 2022
Ether is in a strong downtrend. The buyers tried to stall the decline on June 14 but they could not sustain the higher levels. The bears renewed their selling on June 15 but the bulls are defending the psychological level of $1,000 with all their might. The incessant selling of the past few days has pulled the RSI into deeply oversold territory. This suggests that the selling may have been overdone in the short term. This could result in a strong bear market rally that may pick up momentum above $1,268. The ETH/USDT pair could then rally to the 20-day EMA ($1,636). Alternatively, if the price continues lower and breaks below $1,000, it will suggest the resumption of the downtrend. The pair could then drop to $900 where the bulls will again try to arrest the decline.
June 8, 2022
Ether (ETH) turned down from the 20-day EMA ($1,908) on June 6, indicating that bears are not willing to cede ground to the bulls. The sellers then tried to sink the price below the critical support of $1,700 on June 7 but the long tail on the candlestick shows aggressive buying by the bulls near the support. The price is currently coiling between the downsloping 20-day EMA and $1,700. This is likely to result in a range expansion that could set the stage for the next directional move. If buyers drive the price above the 20-day EMA, the ETH/USDT pair could rally to $2,159. The bears may again mount a strong defense at this level. If the price turns down from it, the pair may spend some time inside the $2,159 to $1,700 range. A break above $2,159 will be the first sign that the pair may have bottomed out while a break below $1,700 could signal the resumption of the downtrend.
June 3, 2022
ETH price is meeting strong resistance at the $2,000 level and these trading metrics explain why. Ether’s (ETH) market structure continues to be bearish despite the failed attempt to break the descending channel resistance at $2,000 on May 31. This three-week-long price formation could mean that an eventual retest of the $1,700 support is underway. On the non-crypto side, a number of equities-related factors are translating to negative sentiment in the crypto market. This week Microsoft (MSFT) lowered its profit and revenue outlook, citing challenging macroeconomic conditions. The U.S. Federal Reserve signalled in its periodic "Beige Book" that economic activity may have cooled in some parts of the country and the Fed is about to reduce its $9 trillion asset portfolio to combat persistent inflation. On the bright side, an institutional investor survey published by The Economist magazine showed that 85% of the respondents agreed that open-source cryptocurrencies like Bitcoin (BTC) or Ether (ETH) are useful as diversifiers in portfolio or treasury accounts. From the macroeconomic perspective, investors are still risk-averse, which could translate to a reduced appetite for cryptocurrencies.
May 31, 2022
Ether (ETH) bounced off the vital support at $1,700 on May 28 and is marching toward the 20-day EMA ($2,026). This suggests that bulls are attempting to start a sustained recovery. The RSI is showing a bullish divergence suggesting that the selling pressure may be reducing. The buyers will try to push the price above the 20-day EMA and challenge the breakdown level at $2,159. If bulls fail to clear this hurdle, the BNB/USDT pair may turn down and consolidate between $1,700 and $2,159. If bulls thrust the price above $2,159, it will suggest that $1,700 may be the bottom in the short term. The pair could then rally to the 50-day SMA ($2,504). This bullish view could be invalidated if the price turns down and plummets below $1,700.
May 25, 2022
Ether (ETH) dipped below the uptrend line on May 24 but the bulls bought at lower levels and pushed the price back above the uptrend line. This suggests that bulls are trying to defend the uptrend line with vigor. However, the bears have not given up and they are again attempting to pull the price below the uptrend line on May 25. If bulls thwart this attempt, the ETH/USDT could rise to the overhead resistance at $2,159. Contrary to this assumption, if the price breaks and sustains below the uptrend line, it will suggest advantage to bears. The pair could then decline to $1,903. A break and close below this support could pull the pair to the May 12 intraday low at $1,800.
May 18, 2022
Ether’s (ETH) failure to rise above the overhead resistance at $2,159 may have tempted short-term traders to book profits. That pulled the price below $1,940 but the bulls are attempting to defend the level. If the price rebounds off $1,940 with strength, the ETH/USDT pair could again rise to $2,159. The bulls will have to push and sustain the price above $2,159 to clear the path for a rally to the 20-day EMA ($2,353). A break and close above this resistance will suggest that the markets have rejected the lower levels. Conversely, if bears sustain the price below $1,940, the pair could decline to the crucial support at $1,700. This is an important level to keep an eye on because a break below it could result in panic selling. The pair could then slump to $1,500 and later to $1,300.
May 16, 2022
Ethereum in danger of 25% crash as ETH price forms classic bearish technical pattern. ETH’s price risks declining further despite rebounding over 20% in the last three days. Ethereum’s native token Ether (ETH) looks ready to undergo a breakdown move in May as it forms a convincing “bear pennant” structure. ETH’s price has been consolidating since May 11 inside a range defined by two converging trendlines. Its sideways move coincides with a drop in trading volumes, underscoring the possibility that ETH/USD is painting a bear pennant. Bear pennants are bearish continuation patterns, meaning they resolve after the price breaks below the structure’s lower trendline and then falls by as much as the height of the previous move downside (called the flagpole). As a result of this technical rule, Ether risks closing below its pennant structure, followed by additional moves to the downside. The height of ETH’s flagpole is around $650. Therefore, if the price undergoes breakdown at the pennant's apex point near $2,030 then the structure’s bearish target will be below $1,500, down over 25% from the price on May 15.
May 13, 2022
Ethereum whales get busy as transactions hit highest point since January. Ethereum whales have been transacting a huge volume of Ethereum, marking the highest one day whale activity since January. Despite widespread losses being posted throughout the crypto market, Ethereum whales have been busy buying and selling Ether (ETH) at a rate not seen since January this year. According to data from Santiment, Ethereum whales made a total of 2,956 transactions, each valued at over $1M on Wednesday, marking the highest day of whale transactions in nearly 5 months. Santiment clarified that whales are typically defined as any account holding between $1M to $10M.
May 11, 2022
ETH/BTC rallies to test its 'ascending triangle' pattern for a bullish breakout. Ethereum's native token Ether (ETH) has grown stronger against its rival for the top position — Bitcoin (BTC) — despite an ongoing crypto market rout. But can the ETH/BTC pair continue to rally in the coming months? Let's look at the charts. ETH/BTC gained 5.5% between the May 9 low of 0.0720 and the May 10 high of 0.0759. ETH also rebounded by almost 9.75% against the U.S. dollar, and Bitcoin underwent a similar upside retracement in the same period. The gains across the pairs appeared after a brutal selloff witnessed across the past 24 hours. The drop sent Ether to its worst levels since January 2022 and Bitcoin below $30,00 for the first time since July 2021. The situation was similar in the traditional markets, with the U.S. benchmark index, S&P 500 (SPX), slumping 3.2% to its lowest level in 2022. On the other hand, the dollar reached its two-decade high, reinstating its "safe-haven" status in times of market turmoil. Moreover, the cryptocurrency equivalent USD-pegged stablecoins witnessed a similar surge in demand.
April 25, 2022
Ethereum on-chain data hints at further downside for ETH price. An assortment of on-chain and derivatives data signal that ETH price is unlikely to rally above $3,500 any time soon. Analyzing Ether's (ETH) current price chart paints a bearish picture, which is largely justified by the 11% drop over the past month, but other traditional finance assets faced more extreme price corrections in the same period. The Invesco China Technology ETF (CQQ) is down 31% and the Russell 2000 declined by 8%. Currently, traders fear that losing the descending channel support at $2,850 could lead to a stronger price downturn, but this largely depends on how derivatives traders are positioned along with the Ethereum network's on-chain metrics.
April 20, 2022
Ether (ETH) broke below the 50-day SMA (3,000) on April 18 but the bears could not sustain the lower levels. The bulls purchased the dip and pushed the price back above the 50-day SMA. The buyers drove the price above the 20-day EMA ($3,113) on April 20 but the long wick on the day’s candlestick suggests that bears continue to sell at higher levels. The bears are currently attempting to sustain the price below the 20-day EMA. If they succeed, the ETH/USDT pair could consolidate in a tight range between $2,883 and $3,166. This tight range trading is unlikely to continue for long and may result in a sharp range expansion within the next few days. A break below $2,883 could sink the pair to the uptrend line while a break above $3,166 could clear the path for a possible retest of the 200-day SMA ($3,491).
April 19, 2022
Ethereum price 'bear flag' could sink ETH to $2K after 20% decline in three weeks. Analysts still expect Ethereum to hold its long-term bullish bias on bets that its highly-anticipated technical upgrade this year will be successful. Ethereum's native token Ether (ETH) has dropped by nearly 20% in the last three weeks, hitting monthly lows near $2,900 on April 19. But despite rebounding above $3,000 since, technicals suggest more downside is possible in the near term, according to a classic bearish pattern. Dubbed "bear flag," the bearish continuation signal appears as the price consolidates higher inside an ascending parallel channel after a strong downward move (called the flagpole). It resolves after the price breaks out of the channel to drop further. ETH's price turned lower after testing its bear flag's upper trendline on April 4 and now eyes an extended decline towards its lower trendline near $2,700. If the pattern pans out as intended, the price could drop further, with its target at length equal to the flagpole's height, as shown in the chart below. As a result, Ether's bear flag setup risks a potential retest of $2,000 in the second quarter. Ethereum's correlation with Bitcoin and the areas of traditional markets have also increased its downside risks in recent months. For instance, the correlation coefficient between Ether and Nasdaq 100 was 0.95 this April 19. A coefficient of 1 means that the two assets move in perfect tandem. Ether price is down by nearly 19% since the start of 2022. Meanwhile, Bitcoin, stock and other riskier markets have also fallen this year as investors assess the Federal Reserve's willingness to aggressively raise rates and reduce its $9 trillion balance sheet.
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