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ETH is DEAD 2023!!!Ethereum price analysis shows a downward trend. ETH has retreated from its two-day high of $1,219. ETH is consolidating above $1,200, with a bearish tilt. According to a recent Ethereum price analysis, the price of ETH has been bouncing in a very narrow range over the last few weeks. Ethereum has had a minor reversal today after a two-day run that saw the cryptocurrency briefly rally near $1,250 resistance. Over the last two weeks, the price of Ethereum has been fluctuating in a band between $1,200 and $1,250. The bulls have failed to clear the critical barrier at $1,250 convincingly, and ETH/USD may potentially fall toward the $1,150 support level. The overall market mood continues to be pessimistic, with ETH slipping below the 20-day moving average. Ethereum is currently at $1,209.94, a 0.75 percent decrease from its two-day high of $1,219. The bulls must defend the $1,170-$1,180 support zone to commence a new rally toward $1,250. A strong close below $1,170 may pave the way for a further slide toward the 50-day and 100-day moving averages, which are both at $1,100. The bulls must break above $1,250 to initiate a new rise in ETH/USD. Ethereum price analysis on a daily chart reveals that ETH has been consolidating in a range above the $1,200 support. However, it has dropped out of the content in the last few hours. If the bears can sustain the price below $1,170, a more significant drop toward $1,100 is likely. To begin a new upward trend, Ethereum must break over the $1,220 barrier. The overall market attitude is adverse, and bulls must generate momentum above $1,200 and $1,220 to sustain the price above essential supports. On the 4-hour chart, the Relative Strength Index is below 50, indicating a bearish trend in ETH/USD. The MACD is also in the negative area, implying that ETH will suffer further losses in the short term. Conclusion of Ethereum price analysis Finally, Ethereum price analysis indicates that ETH/USD may continue erratic and range-bound until it finds a definite direction. On the downside, if the bears can break through the $1,170 support level, a larger drop toward $1,100 is likely. On the plus side, the bulls require to break above $1,220 and $1,250 levels to start a fresh increase.
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by DEinvestment
3
Farewell Generational Bottom #BTC $BTCUSD Monthly More than half way through the month of May, and our highest timeframe showing BTC is in uptrend. Starting on April 2017, with a 2nd bounce in January 2019, and finally a 3rd test in March 2020. Stochastic RSI showing bearish momentum is slowing down, let’s not forget indicators rely on price to get their data so we may already be in a bull market. The month of April left a bullish engulfing, and a close above $7,500 (major resistance) with no signs of slowing down. Things are about to get interesting really fast…$14,000….$16,000…..$20,000….$xxx,xxx Weekly Shifting over to our pattern timeframe we can see BTC is in a strong minor uptrend starting from $5,000 up to $10,000 with no signs of reversing. BTC has tried to close above $10,000 (3x) this month alone, although we may not being seeing a close above $10,000 this month we most likely will be seeing one in the near future. A weekly close above $9,700 is a good sign price will hold at this level and continue to the upside. A rejection from this level and we could see BTC fall as low $7,700, stochastic rsi showing momentum is in favor fo the bulls with no sign of reversal. Daily Finally looking at our trigger timeframe we get a better picture of BTC’s uptrend, also stochastic rsi showing momentum has bottomed out. A close below $9,400, and expecting a nice sell-off to the side, however if price holds above this level….enjoy the rewards :)
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by UnknownUnicorn2434649
2