• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Ethereum
Nexo Logo

Ethereum Sports Bearish Signals As Crypto Market Shifts Back Into Fear

Best Owie by Best Owie
4 months ago
in ETH
Reading Time: 3 mins read
Advertisement

Ethereum has mostly mirrored bitcoin’s run in the recent rally. This has seen the digital asset break as high as $3,000 once again for the year. This point which has proved elusive for the cryptocurrency has continued to give it a hard time. In previous times, Ethereum has had a had time staying above this level. Such has been the case this time around as it fails to secure its spot above e$3K.

Ethereum On The Decline

Like all other cryptocurrencies, Ethereum is a highly volatile asset and as such is subject to wild fluctuations in its price. For the last few months, it has fluctuated but remained mostly around the $2,600 to $ 2,800=0 level. With the recent rally, it was finally able to break out of this trend and begin a whole new one, one which saw it rise above the coveted $3K level.

Related Reading | TA: Ethereum Prints Bearish Pattern, Why It Could Correct To $2.8K

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Nevertheless, this recovery would prove to be short-lived given that ETH could not maintain this position. Meeting fierce resistance from the bears at the $3,000 point, the digital asset was unable to form any meaningful support above it. This meant that the price crumbled below it but it would prove to be a continuous downward trend given the current indicators.

The fall below $3k saw the digital asset trading below its 50-day moving average. Now, this is an incredibly important point for cryptocurrencies in general given their high volatility. Since buyers are unwilling to purchase the digital asset at prices they did over the past few weeks, it indicates that Ethereum is still a seller’s market. Thus, it is expected that there will be a continuous downtrend as more coins are dumped on the market.

Ethereum price chart on TradingView.com

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!
ETH falls below $3k | Source: ETHUSD on TradingView.com

This however does not spell bad news all around though. A market like ETH’s can quickly switch up and turn into a buyer’s market, especially when prices are as low as they are right now. If this happens, then Ethereum could very well see another 10% bounce that will cement its position above the $3k resistance point.

Market Sentiments Falls To Fear

The Fear & Greed Index had moved out of the fear territory back into a neutral point at the start of the week but this new wave of positive sentiment did not hold. The index has now moved back into fear at a current score of 39 as at the time of this writing, showing that despite recent rallies, investor sentiments are still more negative than anything.

Related Reading | Terra (LUNA) Outperforms Popular Cryptos Ether, Dogecoin In The Past 24 Hours

Ethereum and the crypto market are directly affected by investor sentiment as they show when investors are likely to put money in the market. Currently, with the index in fear, it shows that investors are very wary of putting money in the market. However, this does not necessarily spell bad news for ETH.

Fear & Greed Index

Market sentiments drop to fear | Source: Alternative.me

Usually, when most investors are fearful, it can present a good buying opportunity. In the past, whales have been known to take advantage of moments like these to fill their bags. If so, then ETH can kickstart another rally. But only a large absorption of current supply can start the digital asset on this path.

Featured image from CNBC, chart from TradingView.com
Tags: ETHeth priceethereumethusdFear & Greed Indexmarket sentiment
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Best Owie

Best Owie

Related Posts

Ethereum

TA: Ethereum Bulls In Control, Why ETH Could Clear $1,300

16 hours ago
TA: Ethereum Key Indicators Suggest Strengthening Case For More Upsides

TA: Ethereum Key Indicators Suggest Strengthening Case For More Upsides

4 days ago
Ethereum

TA: Ethereum Consolidates Below $1,100: What Could Trigger Sharp Decline

5 days ago
Ethereum

TA: Ethereum Tops Near $1,200, Why Dips Could Be Attractive

6 days ago
Ethereum

TA: Ethereum Could Rally If The Bulls Clear This Key Resistance

7 days ago
Ethereum

TA: Ethereum Recovery Could Gain Pace If It Clears This Resistance

1 week ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

Have These Coins Cardano (ADA), Solana (SOL), and FIREPIN Token (FRPN) Become The Pillars Of The Crypto Space?

June 27, 2022

Torches Finance, The Top Lending Protocol has Launched on KCC, Genesis NFT Free Mint is Coming Soon

June 27, 2022

DogeSQ Token Presale Will Live on 28th June, 2022. 6:00 AM UTC

June 27, 2022

XT.com Lists Tales of Xtalnia (XTAL) With USDT Trading Pair

June 27, 2022

Find Out How Gnox (GNOX) Is Planning To Take On Fantom (FTM) And Avalanche (AVAX)

June 27, 2022

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.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win

© 2021 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.