Ethereum Could Gain 10% Before ETH Resumes Its Reversal
2022年9月20日 - 12:55AM
NEWSBTC
With the latest price drop in the first half of this month,
Ethereum has reached a new low. Ethereum, as of late, has been
estimated to be worth around $1,420. Ethereum’s future, though,
appears to be gloomier at the moment. The current price of one
ether is below the 61.80 Fibonacci level, which is somewhere around
$1,340 at the time of this writing. Any progress made since early
September has been lost in the recent market downturn. The coin
still has some chance of being salvaged, though. There has been a
lot of volatility in the financial markets since the market crash
on September 13 in response to the CPI report and interest rate
hike. In response to the recent negative developments in the U.S.
economy, stock prices and cryptocurrency prices fell precipitously.
However, Ethereum has a chance of gaining 10% before it resumes its
backward motion. Related Reading: Chiliz Bulls Test $0.2505
Resistance – Can CHZ Reach Green Zone? On Jittery Traders &
Federal Reserve Rate Hikes Fear has spread among traders and
investors due to the combination of historically high inflation and
the Federal Reserve’s quantitative tightening initiatives, which
center on a potential 1% interest rate hike. The market’s reaction
to this newfound anxiety was a precipitous drop almost instantly.
The price decreased by 26.02 percent from the 10th to the 18th of
September, effectively erasing the purported recovery seen in late
August. There are two possible ways for the price of Ethereum to
recover: 1- investors will “buy the dip” in response to a
price decline, or 2- investors will “HODL” until the price
recovers to normal. Related Reading: AVAX Price Rebound Fails To
Breach $22 Resistance Due To High CPI Data Scenario one is more
probable, as buying the dip will result in a profitable investment
for traders. With the Stoch RSI indicators providing strong
oversold signals, it is possible for the market to see increased
purchasing activity as anxieties recede. Recent market movements
are also consistent with the XABCD harmonic pattern. This can be a
buy signal for traders, resulting in a 10 percent price increase
relative to the present price movement. Second Scenario Might Lead
To Another Pain For Ethereum If Ethereum is ever to rebound, bulls
must generate and maintain sufficient momentum to overcome the
current market’s worries. The momentum must also surpass the 1,467
price range, as failure to do so will impede future uptrends. The
support for this hypothetical bull rebound is $1,243. Any downturn
from that point can provide the bears with sufficient momentum to
break the 78.60 Fib level. This could be the case if market
confidence is not restored. Buyers and holders of Ethereum should
also monitor other currencies. With a correlation value of 0.72,
any additional decline in Bitcoin’s price will prompt a sell-off in
Ethereum and other altcoins. ETH total market cap at $163 billion
on the daily chart | Source: TradingView.com Featured image from
Crypto Basic, chart from TradingView.com (The analysis represents
the author's personal views and should not be construed as
investment advice).
chiliZ (COIN:CHZUSD)
過去 株価チャート
から 5 2023 まで 6 2023
chiliZ (COIN:CHZUSD)
過去 株価チャート
から 6 2022 まで 6 2023