• About Us
  • Privacy Policy
  • Contact Us
  • Home
  • Bitcoin
  • Ethereum
  • Cryptocurrency
    • Altcoin
    • Litecoin
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO
No Result
View All Result
Cryptounfold
No Result
View All Result
Home Ethereum

Ethereum Is At a Pivotal Resistance, and a Rejection Could Send ETH to $300

by admin
September 29, 2020
in Ethereum
0
0
SHARES
5
VIEWS
Share on FacebookShare on Twitter


Related Posts

Terra Flaw: Ethereum Creator And Binance CEO Slam Terra Via Twitter

Stablecoins Receive Queen’s Blessings As UK Braces For Landmark Crypto Legislation

Terra TVL Crumbles More Than $14 Billion

Data Shows Top Coins Among Most Hated Crypto, But Not Dogecoin


  • Ethereum has seen a strong performance in the past 24 hours.
  • The coin has reached its highest price in days as it moves to $360.
  • While this is bullish price action, Ethereum printed a number of wicks above the current price.
  • This important as above ETH’s current price is an important horizontal resistance.
  • Ethereum failing to surmount this level and flip it into support exposes the coin to a drawdown, analysts say.
  • Bitcoin may end up dictating ETH’s price action at the end of the day.
  • Analysts should watch Bitcoin and Ethereum in the coming days to determine the direction the rest of the crypto market will move.

Ethereum Is Primed to Drop as It Fails to Pass a Key Resistance

Ethereum failing to move past the resistances in the $365-375 region could result in a strong correction according to top analysts.

Michael Van De Poppe, a crypto analyst and a trader at the Amsterdam Stock Exchange, says that should the cryptocurrency fail to move past this resistance, it could drop towards $300, then slightly lower. This region is important as it’s where a number of ETH corrections bottomed in the past two months.

“All right, this one is moving upwards and that’s good. However, the crucial hurdle is around $366-375 to break. If that breaks, $ETH is ready for $415. If not, I assume $280 as a likely possibility for further corrective movements in Q4.”

Chart of ETH's price action over the past few months with analysis by crypto analyst Michael Van De Poppe. Chart from TradingView.com

All Eyes on Bitcoin

While Ethereum may be in no man’s land in and of itself, Bitcoin’s price action will dictate that of altcoins moving forward.

Analysts are optimistic about BTC after the coin surged towards $11,000 on Sunday evening. The surge convinced many that the prevailing short-term trend is bullish as opposed to bearish.

As reported by Bitcoinist previously, one analyst shared the chart below. It shows that Bitcoin’s recent price action has been pivotal in that the cryptocurrency bounced off a historical support.

Image

Chart of BTC's macro price action since the start of 2017 with analysis by crypto analyst MacroCRG (@MacroCRG on Twitter). Chart from TradingView.com

Further gains in the price of Bitcoin will drive Ethereum higher as the two markets are somewhat correlated with one another.

What may happen, though, is that the exact price performances of BTC and ETH diverge as fundamental trends drive the magnitude of moves in different directions. As seen over recent months, Ethereum has largely outperformed Bitcoin due to trends in decentralized finance.

Featured image from Shutterstock
Price tags: ethusd, ethbtc
Charts from TradingView.com
Ethereum Is At a Pivotal Resistance, and a Rejection Could Send ETH to $300





Source link

Tags: ETHEthereumPivotalRejectionResistanceSend

Popular

Press Release

Knox Wire Uses Distributed Ledger Technology to Improve Real-Time Gross Settlement Service

by admin
March 26, 2022
0

Blockchain technology has infiltrated every industry in recent years, making them safer and more effective. Now, it has reached the...

Read more

Elimobile Launches the First Tokenized Telco, Partners with Elite Token to Create a Celebrity Powered Ecosystem

May 16, 2022

Users of "Fitcoin", A Mobile Fitness App, Are Rewarded for Staying Fit

May 16, 2022

Brainwashing! The hot music of tiktok was released by VOOPOO!

May 17, 2022

Crypto payment solution provider Fat Cat Killer is launching its token “Killer” on May 17, 2022

May 17, 2022

About

We publish a comprehensive news feed covering all news relevant to the crypto user, covering main industry news, politics and regulation as well as consumer-level “news you can use” (practical stuff), including handy DIY tips, links to useful tools, unbiased reviews and opinions revolving around cryptocurrency. Simple logic and real-world examples are preferred before technical jargon and personal rants.

Follow us

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Ethereum
  • Litecoin
  • Market
  • Press Release
  • Regulation
  • Uncategorized

Recent Posts

  • EverEarn Platform Launches, Aims To Pay Highest BUSD Rewards Ratio
  • Chubs Inu: The Next Cheems That Offers BUSD Rewards
  • XSTIK: Announcing the Ecosystem built on XRP ledger
  • CoinPoker $100,000 Exclusive Buy-in NLH: A Tournament Hosted by Tony G
  • About Us
  • Privacy Policy
  • Contact Us

© 2020 cryptounfold.org

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Cryptocurrency
    • Altcoin
    • Litecoin
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO

© 2020 cryptounfold.org

  • MMS Cash TokenMMS Cash Token(MCASH)$1.000.00%
  • bitcoinBitcoin(BTC)$49,095.002.28%
  • ethereumEthereum(ETH)$3,384.05-0.62%
  • HEXHEX(HEX)$0.1290085.45%
  • cardanoCardano(ADA)$2.18-2.77%
  • tetherTether(USDT)$1.00-0.27%
  • binancecoinBinance Coin(BNB)$425.46-0.83%
  • SolanaSolana(SOL)$166.52-1.81%
  • rippleXRP(XRP)$1.04-1.73%
  • usd-coinUSD Coin(USDC)$1.000.74%