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Ethereum (Cryptocurrency)

DeGRAM | ETHUSD rebound from the support line📊 Technical Analysis ● Bounce off the purple up-trend and 2 320 support printed a bullish engulfing, maintaining the sequence of higher-lows that has guided price since April. ● Price is squeezing into an ascending triangle under 2 700-2 730, where the former wedge cap meets horizontal supply; a break projects to the 3 040 macro fib / channel roof. 💡 Fundamental Analysis ● Net-staking deposits keep rising while, per FXStreet (25 Jun), whales add ETH ahead of the SEC’s spot-ETF S-1 verdict, underpinning demand. ✨ Summary Long >2 320; triangle breakout above 2 730 targets 3 040. Thesis void on a 16 h close below 2 200. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!
Long
by DeGRAM
3
Bearish reversal?Ethereum (ETH/USD) is reacting off the pivot and could drop to the 1st support. Pivot: 2,468.15 1st Support: 2,173.62 1st Resistance: 2,651.84 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ICMARKETS:ETHUSDShort
by ICmarkets
ETHUSD: Waiting for one last breakout.Ethereum remains neutral on its 1D technical outlook (RSI = 48.083, MACD = -39.26, ADX = 21.833), failing so far to close over its 2W MA50, where it's been rejected in the past 3 candles. The last Resistance before the price starts the parabolic rally is the P1 trendline. The price has been trading over it for the majority of this Cycle and only broke under it during the recent Tariff War. A breakout there, extends the Cycle to possibly at least a +346.99% rally from the bottom (TP = 6,200). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CRYPTO:ETHUSDLong
by InvestingScope
1
Ethereum - This structure decides everything!Ethereum - CRYPTO:ETHUSD - trades at a key structure: (click chart above to see the in depth analysis👆🏻) After Ethereum retested the previous all time high in the end of 2024, we saw quite a harsh move lower. This move was followed by an expected recovery, however Ethereum is still trading below a key structure. Either move is still possible and will shape the future of Ethereum. Levels to watch: $2.500, $4.000 Keep your long term vision! Philip (BasicTrading)
CRYPTO:ETHUSDLong
by basictradingtv
15
ETHUSD - Could ETH hit $800 before the next bull run?ETHUSD looks very bearish in my opinion. Strong bearish divergence on the MACD. Any substantial time ETH has stayed under the MACD zeroline has lead to very bearish price action. This price recovery is currently hitting very strong resistance area. With the Israel/Iran war looming, and the deflationary crash risks with oil dumping, I'm getting very defensive sentiment at this moment. I'll be in cash until we get further confirmation on the price action.
COINBASE:ETHUSDShort
by jpbrown1023
4
Ethereum Whale Buys $422M in ETH: Bullish Signal or False Hope? The cryptocurrency market has always been a playground for big players, often referred to as "whales," whose massive transactions can influence market sentiment and price action. Recently, one such Ethereum whale has made headlines by accumulating a staggering $422 million worth of ETH in less than a month. This aggressive buying spree has sparked curiosity and speculation among investors and analysts alike. Is this whale positioning for a massive rally, or are they simply hedging against market uncertainty? Let’s dive into the details of this significant accumulation and explore its potential implications for Ethereum’s price trajectory. The Whale’s Buying Spree: A Breakdown Blockchain analytics platforms like Lookonchain and Whale Alert have been tracking the movements of this Ethereum whale over the past few weeks. According to their data, the whale has been systematically purchasing large quantities of ETH across multiple transactions, totaling over 150,000 ETH at an average price of approximately $2,800 per token. This accumulation, valued at $422 million, represents one of the largest buying sprees by a single entity in recent months. What’s particularly intriguing is the timing of these purchases. The whale began accumulating during a period of relative market uncertainty, with Ethereum hovering near key support levels after a significant correction from its earlier highs. This suggests that the whale may have viewed these price levels as a buying opportunity, potentially anticipating a rebound or long-term growth in Ethereum’s value. Why Are Whales Accumulating Now? There are several reasons why a whale might choose to accumulate such a massive amount of ETH at this juncture. First, Ethereum remains the backbone of decentralized finance (DeFi) and non-fungible tokens (NFTs), two sectors that continue to drive innovation and adoption in the crypto space. Despite short-term price volatility, Ethereum’s fundamentals—such as its developer activity, network usage, and upcoming upgrades—remain strong. Second, the whale may be betting on the long-term impact of Ethereum’s transition to Proof-of-Stake (PoS) via the Merge and subsequent upgrades like sharding. These upgrades are expected to make Ethereum more scalable, energy-efficient, and cost-effective, potentially driving greater adoption and value over time. Finally, macroeconomic factors could be at play. With inflation concerns and uncertainty in traditional markets, some institutional investors and high-net-worth individuals are turning to cryptocurrencies like Ethereum as a store of value or hedge against economic instability. This whale’s buying spree could be a signal of growing institutional interest in Ethereum as a long-term investment. Market Implications of the Whale’s Actions The actions of whales often have a ripple effect on the broader market. When a single entity accumulates such a large amount of a cryptocurrency, it can create a supply crunch, reducing the amount of ETH available for sale on exchanges. This, in turn, can drive up prices if demand remains constant or increases. Moreover, whale activity often attracts the attention of retail investors, who may interpret such moves as a bullish signal. Social media platforms like Twitter and Reddit are already buzzing with discussions about this whale’s accumulation, with many speculating that a major price rally could be on the horizon. However, it’s worth noting that whale movements can also be a double-edged sword—while accumulation can signal confidence, sudden sell-offs by the same whale could trigger panic and price crashes. For now, the Ethereum market appears to be reacting positively to this news. In the days following the whale’s most recent purchases, ETH’s price has shown signs of recovery, bouncing off key support levels. But is this just a temporary blip, or the beginning of a sustained rally? Let’s explore this further in the next section. ________________________________________ Ethereum Bounces Hard After Support Bluff: A False Alarm or Fresh Rally? Ethereum’s price action in recent weeks has kept traders on edge. After a prolonged period of consolidation and a dip toward critical support levels, ETH staged a powerful bounce, reclaiming key technical levels and reigniting hopes of a broader rally. However, the question remains: is this bounce a genuine signal of bullish momentum, or merely a false alarm before another downturn? The Support Bluff and Subsequent Bounce Ethereum had been trading in a tight range for much of the past month, with $2,500 acting as a crucial support level. This level was tested multiple times, and on several occasions, it appeared that bears would succeed in pushing the price lower. However, each time ETH approached this support, buyers stepped in, preventing a breakdown. This repeated defense of $2,500 created what some analysts call a “support bluff”—a situation where the market tests a key level multiple times, creating uncertainty about whether it will hold. Just when it seemed like the support might finally give way, Ethereum staged a hard bounce, surging over 10% in a matter of days to reclaim the $2,800 level. This move caught many traders off guard, particularly those who had positioned for a breakdown. Technical indicators also supported the bullish case for this bounce. The Relative Strength Index (RSI) moved out of oversold territory, signaling renewed buying pressure, while the Moving Average Convergence Divergence (MACD) showed a bullish crossover on the daily chart. Additionally, on-chain data revealed a spike in transaction volume and active addresses during the bounce, suggesting that the move was backed by genuine market participation. False Alarm or Fresh Rally? While the bounce has undoubtedly injected optimism into the Ethereum market, it’s too early to declare a full-fledged rally. Several factors could determine whether this move has legs or if it’s just a temporary relief rally before further downside. On the bullish side, the whale accumulation discussed earlier could provide a psychological boost to the market. If other large players follow suit and start buying ETH at these levels, it could create a self-reinforcing cycle of demand. Additionally, Ethereum’s fundamentals remain strong, with ongoing developments like the upcoming Cancun-Deneb (Dencun) upgrade, which aims to reduce Layer 2 transaction costs, potentially driving greater adoption. However, there are also bearish risks to consider. The broader cryptocurrency market remains correlated with macroeconomic conditions, and any negative developments—such as interest rate hikes or geopolitical tensions—could weigh on risk assets like Ethereum. Moreover, if the whale who accumulated $422 million in ETH decides to take profits at higher levels, it could trigger a sharp sell-off, undermining the current momentum. For now, traders are closely watching key resistance levels around $3,000 and $3,200. A break above these levels could confirm a fresh rally, potentially targeting Ethereum’s previous highs near $4,000. On the other hand, a failure to sustain the current bounce could see ETH retest the $2,500 support, with a breakdown below this level opening the door to further declines. ________________________________________ Ethereum Developer Proposes 6-Second Block Times to Boost Speed, Slash Fees Ethereum’s scalability and transaction costs have long been points of contention among users and developers. While the transition to Proof-of-Stake has improved energy efficiency, issues like high gas fees and network congestion persist, particularly during periods of high demand. In a bid to address these challenges, Ethereum developer Barnabé Monnot has proposed a radical change: reducing Ethereum’s slot times (the time between blocks) from 12 seconds to just 6 seconds. This proposal aims to make the network more responsive, improve efficiency for DeFi applications, and significantly lower transaction fees. But what are the implications of this change, and is it feasible? Understanding Slot Times and Their Impact In Ethereum’s current Proof-of-Stake consensus mechanism, validators propose and confirm blocks in slots that occur every 12 seconds. This slot time was chosen to balance network security, decentralization, and performance. A shorter slot time means blocks are produced more frequently, which could theoretically increase transaction throughput and reduce latency for users. Barnabé Monnot’s proposal to halve slot times to 6 seconds is based on the idea that faster block production would make Ethereum more responsive, particularly for time-sensitive applications like decentralized exchanges (DEXs) and other DeFi protocols. Additionally, by processing transactions more quickly, the network could reduce congestion during peak periods, potentially leading to lower gas fees for users. Potential Benefits of 6-Second Slot Times If implemented successfully, Monnot’s proposal could have several positive impacts on Ethereum: 1. Improved User Experience: Faster block times would reduce the time users have to wait for transactions to be confirmed, making Ethereum more competitive with centralized payment systems and other blockchains like Solana, which boast sub-second transaction finality. 2. Enhanced DeFi Efficiency: DeFi protocols often rely on rapid transaction processing for arbitrage opportunities, liquidations, and other automated functions. A 6-second slot time could make these processes more efficient, potentially attracting more users and capital to Ethereum’s DeFi ecosystem. 3. Lower Gas Fees: By increasing the frequency of block production, the network could process more transactions per minute, reducing competition for block space during high-demand periods. This could lead to lower gas fees, addressing one of the most persistent criticisms of Ethereum. 4. Competitive Edge: Faster block times could help Ethereum maintain its dominance in the smart contract space, especially as rival blockchains continue to innovate with speed and cost efficiency. Challenges and Risks While the proposal sounds promising, it’s not without challenges. Reducing slot times could place additional strain on validators, particularly those with less powerful hardware. This could lead to missed slots or delays in block production, potentially undermining network stability. Additionally, shorter slot times could increase the risk of network forks or reorgs (reorganizations of the blockchain), where competing blocks are proposed simultaneously, creating temporary uncertainty about the canonical chain. Another concern is the impact on decentralization. If faster block times disproportionately favor validators with high-performance hardware or low-latency connections, it could lead to greater centralization of the network, as smaller validators struggle to keep up. This would go against Ethereum’s core ethos of maintaining a decentralized and accessible infrastructure. Finally, implementing such a change would require extensive testing and coordination among Ethereum’s developer community. Any misstep could result in bugs or vulnerabilities that compromise the network’s security. Community Response and Next Steps Monnot’s proposal has sparked lively debate within the Ethereum community. Some developers and users are enthusiastic about the potential for faster transactions and lower fees, while others caution against the risks of rushing such a significant change. Ethereum co-founder Vitalik Buterin has expressed cautious optimism, noting that shorter slot times could be a viable long-term goal but emphasizing the need for thorough research and simulation to understand the full implications. For now, the proposal remains in the discussion phase, with no concrete timeline for implementation. If it gains traction, it could be tested on Ethereum testnets before being rolled out to the mainnet as part of a future upgrade. Regardless of the outcome, Monnot’s idea highlights Ethereum’s ongoing commitment to innovation and addressing user pain points. ________________________________________ Is Ethereum Staging a Repeat of 2021? Here’s Why a 200% Surge Could Follow Ethereum’s price history is full of dramatic rallies and corrections, with 2021 standing out as a particularly bullish year. During that period, ETH surged from around $700 at the start of the year to an all-time high of nearly $4,900 in November—a gain of over 600%. As Ethereum shows signs of recovery in 2023, some analysts are drawing parallels to 2021, suggesting that a 200% surge could be on the horizon. But are these comparisons justified, and what factors could drive such a rally? Parallels Between 2021 and 2023 Several factors from 2021 appear to be resurfacing in 2023, fueling speculation of a repeat performance: 1. Market Sentiment: In early 2021, the crypto market was riding a wave of optimism driven by institutional adoption, mainstream media coverage, and retail FOMO (fear of missing out). Today, while sentiment isn’t quite at 2021 levels, there are signs of growing interest, with major financial institutions exploring blockchain technology and retail investors returning to the market. 2. Network Upgrades: The lead-up to Ethereum’s London Hard Fork in 2021, which introduced the EIP-1559 fee-burning mechanism, was a major catalyst for price appreciation. In 2023, upcoming upgrades like Dencun and potential improvements to block times (as discussed earlier) could similarly boost confidence in Ethereum’s long-term value. 3. DeFi and NFT Growth: The explosive growth of DeFi and NFTs in 2021 drove massive demand for Ethereum, as most of these projects were built on its blockchain. While the hype around NFTs has cooled, DeFi continues to evolve, and new use cases like decentralized social media and gaming could reignite interest in Ethereum. 4. Macro Conditions: In 2021, loose monetary policies and stimulus packages created a favorable environment for risk assets like cryptocurrencies. While the macro environment in 2023 is more challenging, any shift toward accommodative policies—such as interest rate cuts—could provide a tailwind for Ethereum. Why a 200% Surge Could Happen If Ethereum is indeed staging a repeat of 2021, a 200% surge from current levels (around $2,800) would take ETH to approximately $8,400—a new all-time high. Several catalysts could make this possible: • Institutional Adoption: Increased participation from institutional investors, as evidenced by whale accumulation like the $422 million ETH purchase, could drive sustained demand. • Bitcoin Halving Effect: The upcoming Bitcoin halving in 2024 historically triggers bull runs across the crypto market, with Ethereum often outperforming BTC during these cycles. • Technical Breakout: If Ethereum breaks above key resistance levels like $3,200 and $4,000, it could trigger a wave of buying momentum from technical traders and algorithms. • Network Improvements: Successful implementation of upgrades like Dencun or shorter block times could enhance Ethereum’s utility, attracting more users and capital to the ecosystem. Risks to the Bullish Thesis Despite the optimism, there are significant risks that could derail a 200% surge. Regulatory uncertainty remains a major concern, with governments worldwide scrutinizing cryptocurrencies and DeFi. Additionally, competition from other Layer 1 blockchains like Solana, Avalanche, and Polkadot could divert developer and user attention away from Ethereum if it fails to address scalability and cost issues. Moreover, the macro environment remains unpredictable. Persistent inflation, geopolitical tensions, or a prolonged recession could dampen risk appetite, weighing on Ethereum’s price regardless of its fundamentals. Conclusion Ethereum is at a fascinating crossroads. The massive $422 million accumulation by a whale signals strong confidence from big players, while the recent price bounce suggests that bullish momentum may be building. At the same time, innovative proposals like Barnabé Monnot’s 6-second block times highlight Ethereum’s commitment to addressing long-standing issues like fees and speed. Whether these factors coalesce into a 2021-style rally remains to be seen, but the potential for a 200% surge is not out of the question if key catalysts align. For now, investors and traders should remain vigilant, keeping an eye on technical levels, on-chain activity, and broader market trends to navigate the exciting but volatile world of Ethereum.
COINBASE:ETHUSD
by bryandowningqln
ETHUSD Energy buildup supported at 2,170Trend Overview: ETHUSD remains in a bullish trend, characterised by higher highs and higher lows. The recent intraday price action is forming a continuation consolidation pattern, suggesting a potential pause before a renewed move higher. Key Technical Levels: Support: 2,170 (primary pivot), followed by 2,080 and 1,980 Resistance: 2,610 (initial), then 2,800 and 2.920 Technical Outlook: A pullback to the 2,170 level, which aligns with the previous consolidation zone, could act as a platform for renewed buying interest. A confirmed bounce from this support may trigger a continuation toward the next resistance levels at 2,610, 2,800, and ultimately 2,920. Conversely, a daily close below 2,170 would suggest weakening bullish momentum. This scenario would shift the bias to bearish in the short term, potentially targeting 2.080 and 1,980 as downside levels. Conclusion: ETHUSD maintains a bullish structure while trading above the 2,170 support. A bounce from this level would validate the consolidation as a continuation pattern, with upside potential toward the 2,610 area. A breakdown below 2,170, however, would invalidate this view and suggest deeper corrective risk. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
TRADENATION:ETHUSD
by TradeNation
1
ETHEREUM Massive rally up ahead.Ethereum (ETHUSD) is trading on its 1M MA50, having recovered half of the Trade War losses. Still underperforming against most of its peers but as we've entered the 2nd half of the year, the traditional Bull Cycle rally is up ahead. We expect at least a 0.5 Fibonacci level test of the Channel Up, targeting 7500. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:ETHUSDLong
by TradingShot
6
ETH update 9.06.2025Hello everyone, many of you asked me to publish my vision for ETH. Here you go! I believe that the previous impulse movement was only the first upward movement, and now we are in a sideways correction movement — call it what you will, but the fact is that the exit from this flat will be upward. 1. End of the year 2. ETH is accumulating on the Onchain 3. Liquidity overflow from BTC can be seen on the ETHBTC chart, and the overflow began at the very bottom 4. What else can large conservative players accumulate? 5. We are going after liquidity from above and should break 4100 by September Best Regards EXCAVO
Long
by EXCAVO
18
Pullback resistance ahead?The Ethereum (ETH/USD) is rising towards the pivot which has been identified as a pullback resistance that lines up with the 50% Fibonacci retracement and could drop to the 1st support. Pivot: 2,483.49 1st Support: 2,289.88 1st Resistance: 2,655.92 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ICMARKETS:ETHUSDShort
by ICmarkets
ETH - ORDER BOOK - BIG LEVELS Ethereum Order Book Analysis | Key ETH Levels Revealed (Real-Time Liquidity Zones) In this video, we dive into the Ethereum (ETHUSD) order book to uncover major liquidity levels that could influence price action in the short and medium term. By analyzing real-time data, we identify where whales and institutions are placing large orders, which often act as strong support and resistance zones. What You’ll Learn: • How to spot large buy/sell walls on the ETH order book • Why these levels matter for short-term traders • Real-time reactions to major liquidity zones • Potential long/short trade setups around key areas This is essential viewing if you’re trading ETH intraday or swing, and want to anticipate where the next major move may come from. ⸻ Tools Used: • ETHUSD price chart • Real-time order book data • Volume heatmaps • Liquidity zone mapping • Sentiment Tool ⸻ Stay ahead of the crowd by understanding how the market reacts to big players’ order placements. Don’t forget to leave a comment with your ETH target, and follow for more pro-level crypto analysis. ⸻ #Ethereum #ETHUSD #ETHAnalysis #CryptoTrading #OrderBook #ETHOrderFlow #LiquidityLevels #CryptoTA #PriceAction #WhaleWatching
COINBASE:ETHUSDLong
by MartyBoots
1
ETH Update: A Possible Rebound!ETH Weekly Update ETH has formed a support trendline in the $1500–$1600 range and previously rebounded from it with a 90% gain. After a retest, it’s once again showing signs of a potential rebound from the $2100 level. If this rebound holds, it could bring relief to price momentum, and we may see ETH retesting the $3500 zone. The RSI still has plenty of room to expand, suggesting further bullish potential. Strategy: ~ Entry: $2100 to Current Market Price (CMP) ~ Accumulation Range: $1500–$1600 ~ Trade Type: Spot ~ Holding Period: Q4 2025 ~ Target: $3500 Note: Always do your own research and analysis before making any decisions. This is not financial advice. Regards, Dexter
Long
by Dexter_The_Trader
1
Ethereum vs Small Cap. & The 2025-26 Cryptocurrency Bull MarketThe last three days ended up being a very nice flush, a strong one but the action quickly recovered above the 18-May low. Ethereum was trading above $2,300 since mid-May and always stayed above this level. It broke suddenly below, out of nowhere, but the action is bullish again. We can say that this was a stop-loss hunt event, a bear-trap and nothing more or else we would see a continuation of the bearish action rather than a strong inverse reaction, a bullish jump. It is not only Ethereum of course that is experiencing this type of bullish action, some altcoins are going nuts. Really crazy right now producing so much momentum that people are still wondering if the market is going down... Or is it going up? It is obviously up, just look at the 7-April low. Ethereum hit a low of $1,385 on 7-April. The higher low yesterday ended at $2,111. You see what I mean? The market is ultra-bullish because the last low is so far away. It is impossible that it will be tested even less possible for it to break. Ok, so a market shakeout we agree but now that the shakeout is complete what is supposed to happen next? Watch the smaller altcoins. Thank you for reading. Namaste.
Long
by MasterAnanda
$ETHBTC failed multiyear breakout. To understand the investor positioning in the Crypto markets we must understand the CRYPTOCAP:BTC values of the Altcoins. In terms of USD the valuations might go up but if we look at the pair trade of the Altcoins relative to CRYPTOCAP:BTC we can relay understand the flow among the various Cryptocurrencies. Let’s understand the relationship between CRYPTOCAP:BTC and CRYPTOCAP:ETH , the second largest Crypto and the largest one in the CRYPTOCAP:TOTAL2 index. Below we have plotted a multiple year BINANCE:ETHBTC chart for reference. IN the previous cycle the BINANCE:ETHBTC char bottomed @ 0.02 and then BINANCE:ETHBTC had a bull run where the chart topped out on 0.09. This was during the rush of Crypto Punks and the likes which were traded using $ETH. At the same time the RSI of BINANCE:ETHBTC also peaked at 90. Since then, it has been bleeding slowly. The BINANCE:ETHBTC has suffered a series of lower lows and lower highs forming a bearish pattern. The RSI also never regained in strength and has also been forming lower highs and lower lows. This April the BINANCE:ETHBTC touched the last cycle low of 0.02. Since then, it has tried a bounce back but failed again at 0.025. My prediction is that the BINANCE:ETHBTC will struggle to break out of the 0.236 Fib retracement levels plotted on the previous cycles Highs to the Lows. Verdict : BINANCE:ETHBTC looks bearish on medium to long term. Short term bounce back possible to 0.0375.
Short
by RabishankarBiswal