• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • 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
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Binance Sees $218 Million In Outflows Following CFTC Lawsuit
  • 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
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Binance Sees $218 Million In Outflows Following CFTC Lawsuit
This Indicator Predicts Probable Bearish Trend Ahead For Ethereum

This Indicator Predicts Probable Bearish Trend Ahead For Ethereum

Sarah by Sarah
7 months ago
in Ethereum
Reading Time: 2 mins read
Advertisement
Advertisement

The crypto market started climbing downhill after the Federal Reserve August 26 meeting many coins plummeted, including the top two, Bitcoin and Ethereum. As of August 28 and 29, ETH was losing and trading in the reds. But it seems everything is bouncing back to normal. Ethereum started an uphill climb at the close of the market on August 29.

The coin recorded an intraday high of $1,556.31 and closed the market at $`1,553,04. The lowest point on August 29 was $1,427.73. At the time of writing, stands at $1,571.

Related Reading: WATCH: Bitcoin Versus DXY And The Dangerous TD9 Setup | Daily TA August 30, 2022

The price jump has pushed the market cap to $194,421,528,423 by adding 9.74%. But then, analysts have presented a chart indicating that ETH price might still plummet to $1,000 again.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!
This Indicator Predicts Probable Bearish Trend Ahead For Ethereum
Source: Bloomberg

Ethereum Chart Indicates A Possible Bearish Trend

According to Fairlead Strategies, Kate Stockton, the chart above shows that Ethereum has broken under its initial support from the 50-day MA, increasing downside risks with short-term momentum is negative. Also, the weekly stochastics have taken a downturn, which hasn’t happened since April. These signs indicate that ETH might retest support at $1,000

Ethereum prices have continued to fluctuate uncontrollably. The Merge in September was supposed to push it positively. But things are not turning out well as the crypto shows volatile price swings.

In early August, ETH went as high as $2,000. But currently, the price shows a loss of almost 25% from that time till now.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
This Indicator Predicts Probable Bearish Trend Ahead For Ethereum
Ethereum gains momentum after a slump l ETHUSDT on TradingView.com

Unfortunately, Fed Jackson Hole annual meeting didn’t help matters. After the gathering, cryptos, including Ethereum, fell. In addition, many people started selling off their ETH holdings because Jerome Powell decided to be hawkish.

Macros Have Seemingly Won

There was a lot of optimism following the upcoming Merge. The upgrade is supposed to make the Ethereum network more scalable and accommodate more transactions. Many investors expected a price increase after the Merge for the entire crypto market. So, the downward trend has discouraged many people.

As a top analyst told his followers on Twitter, the Merge may have been Priced In. Rager stated that when Ethereum skyrocketed by 2x 100%+ in one month was when the hype around the upgrade played its role. Right now, the macro factors, such as the continuing inflation, are causing havoc on asset prices. Note that after the Feds meeting, even stocks plummeted too.

Related Reading: Bitcoin aSOPR Rebounds From “1” As Weakness Remains In Market

But there might still be a positive movement for ETH after the first network fork slated for September 6. Many analysts believe that if everything works well, the coin might show strength and climb to $2,200. It is climbing now, and if the strength continues, the prediction might play out.

Featured image from Pixabay, chart from TradingView.com
Tags: bitcoinethereumETHUSDTtwitter
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Sarah

Sarah

Sarah is a journalist who continues to share her passion for writing through her writing in DeFi, FinTech, and Cybersecurity.

Related Posts

Shanghai

Ethereum Shanghai Update Gives Native Tokens A Boost In Price

4 days ago
Ethereum Layer 2

Arbitrum, Optimism, And Polygon: Which Is The Ultimate Ethereum L2?

4 days ago
Ethereum ETH Prices Below $2,000

Ethereum Pinned Below $2,000 Despite Network Burning Over 3 Million ETH

5 days ago
Ethereum (ETH) number of addresses surges

Number Of Ethereum Addresses In Profit Hits 10-Month High As ETH Continues Rally

1 week ago
Ethereum bull

On-Chain Data Indicates Ethereum’s Bullish Trend Could Continue

1 week ago
Ethereum

Ethereum Bullish Signal: $560M In ETH Exits Exchanges

1 week ago

Premium Partners

Play Finance

Trending Projects

  • 4 Best Upcoming ICO For 2023

    2 weeks ago
  • Crypto Investment for Long Term Growth in 2023

    2 weeks ago
  • 5 Cryptocurrency To Invest In 2023

    2 weeks ago

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
  • Ripple XRP Price Prediction 2023 – 2025 plus 5 Tokens...

    11 hours ago
  • Ethereum Price Prediction 2023 – Why This New Meme...

    15 hours ago
  • Discover Big Eyes Coin And Optimism As They Continue To...

    17 hours ago
  • Ethereum’s Shanghai Upgrade Goes Live April 12...

    17 hours ago
  • Metacade’s Presale Raises an Astounding $15.4m...

    19 hours ago

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.

Links

Crypto Prices from Nomics

Cryptocurrency news

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

Technical Analysis

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

Company

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

© 2022 NewsBTC. All Rights Reserved.

  • 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
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins
  • Play Finance

© 2022 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.