NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

Potential Ethereum Dip Provides Ideal Long Entry, Claims Analyst

Cole Petersen
Cole Petersen
5 years ago
2 mins read
Ethereum ETH

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Ethereum’s price has been slowly grinding lower over the past 24-hours which comes about as the asset sees an even further decline in its on-chain volume, and ETH is now at risk of breaking below a key short term support level, which could mean that a period of capitulation is imminent.

In spite of this, one prominent analyst is noting that he believes that any potential price dip for both Ethereum and Bitcoin in the near-term could simply be a bear trap that provides traders and investors alike with an ideal long-entry.

Ethereum Grinds Lower as it Nears Key Short-Term Support Level

At the time of writing, Ethereum is trading down just under 2% at its current price of $182, which marks a notable drop from its 24-hour highs of $186 that were set yesterday.

Ethereum’s downwards movement today comes concurrently with a similar movement by Bitcoin, which hit highs of $9,400 overnight before it began a short-term downtrend that has sent it to beneath $9,200.

This bearishness today is simply an extension of the period of choppy trading that has been experienced by the aggregated crypto markets over the past several days and weeks, and Ethereum is currently caught in a trading range between $180 and $192, with the former price being a key support level that has held strong on multiple occasions over the past several weeks.

ETH has also been facing declining trading volume over the past week, which has dropped even further today, with TokenAnalyst noting that it has plummeted by nearly 34% over the past 24-hours.

“4H #ETH Network Stats: Price: $183.54 (+0.9%). $ETH On-Chain Volume: $192M (-33.7%). Active Senders: 198K (-17.1%). Active Recipients: 87K (-6.3%),” they explained.

📢 24H #ETH Network Stats:

💲 Price: $183.54 (+0.9%)
💵 $ETH On-Chain Volume: $192M (-33.7%)
👈 Active Senders: 198K (-17.1%)
👉 Active Recipients: 87K (-6.3%)

Visit https://t.co/u90eafzR5J for more info

— TokenAnalyst (@thetokenanalyst) November 3, 2019

Analyst: ETH Price Drop Could Provide Ideal Long Entry 

Mayne, a popular cryptocurrency analyst on Twitter, explained in a recent tweet that he believes any near-term breakdown for both Ethereum and Bitcoin could simply be a bear trap that is followed by a large movement upwards, which would mean that the next dip could be an ideal time to long the cryptocurrencies.

“$BTC and $ETH are consolidating. I think if we break down it’ll be a bear trap that you want to long. I expect bears to talk shit under all my bullish posts, sentiment will line up nicely. Same people talking shit are the ones who will be rebuying their spot back above $10k,” he explained while referencing the charts seen below.

$BTC and $ETH are consolidating. I think if we break down it'll be a bear trap that you want to long. I expect bears to talk shit under all my bullish posts, sentiment will line up nicely.

Same people talking shit are the ones who will be rebuying their spot back above $10k. pic.twitter.com/FnOkKS5M6I

— Mayne (@Tradermayne) November 2, 2019

The coming few hours and days will likely elucidate whether or not Ethereum and other cryptos will be able to break out of their recently established trading ranges, or if further consolidation is imminent.

Featured image from Shutterstock.
Tweet123Share222ShareSend
Cole Petersen
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

BTC, Bitcoin

Bitcoin (BTC) Price Eyes $114,000 Retest Amid Bounce, But Analyst Suggests Caution

Bitcoin (BTC) started the week recovering 6% from Friday’s drop and attempting to reclaim a crucial area that could set...

Rubmar Garcia 2 hours ago
Crypto US : rencontre clé avec des sénateurs démocrates sur la régulation — enjeux et calendrier

Crypto US : rencontre clé avec les sénateurs démocrates sur la régulation

La semaine s’ouvre sur un face-à-face rare entre Washington et les géants de la crypto. Une table ronde au Sénat,...

evanss 2 hours ago
Ethereum Price Pulls Back Hard

Ethereum Price Faces Rejection Near Resistance Zone — Risk Of Deeper Correction Rises

Ethereum price started a recovery wave above $3,950. ETH failed to clear $4,050 and recently started a fresh decline below...

Aayush Jindal 3 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

crypto φάλαινα trump bitcoin

Crypto φάλαινα συνδεδεμένη με τον Trump επενδύει ξανά: Short $76 εκατ. στο Bitcoin με μόχλευση 10x

Ιωάννης Ριζόπουλος 52 minutes ago
Solana

Solana Co-Founder Ventures Into Perpetual DEX Development: What You Should Know

Ronaldo Marquez 1 hour ago
fed usa Crypto conference

Έκπληξη από τη Fed – Επίσημο συνέδριο για τα κρυπτονομίσματα ανακοινώθηκε στις ΗΠΑ

Ιωάννης Ριζόπουλος 1 hour ago

Premium Sponsors

Press Releases

  • 仮想通貨おすすめ:政府閉鎖で注目高まるCPI発表と次回利下げを巡るFRBの動き

    ...

    17 hours ago
  • ドージコイン 今後の価格予測:0.86ドル到達の可能性、次世代ミームトークンが10倍成長か

    ドージコイン...

    17 hours ago
  • リップル 今後 に注目:オプション市場の強気転換が示すBTC・ETHからXRP・SOLへの資金移動

    リップル 今後...

    18 hours ago
  • 新しい仮想通貨が急上昇:レイヤー2プレセールで2,500万ドル目前

    ...

    18 hours ago
  • コインベース市場回復前に注目すべき仮想通貨プレセール銘柄

    ...

    18 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.