Источник CryptoPotato.com, Sofia, Bulgaria
Заголовок Here Are ETH’s Most Probable Next Targets: Ethereum Price Analysis
Дата 20241005

Этим цветом    обозначаются известные системе слова и выражения, принимавшие участие в анализе данного текста, а таким    - идентифицированные, то есть соотнесенные с каким-либо объектом онтологической базы

============= Обработанный текст:
Here Are ETH s Most Probable Next Targets: Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum Price Analysis

Here Are ETH s Most Probable Next Targets: Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum Price Analysis

Author: CryptoVizArt

Last Updated Oct 5, 2024 @ 04:54

Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum’s recent attempt to break above the multi-month descending channel’s
middle threshold of $2.6K has turned out to be a false breakout, leading to a
notable rejection and sharp decline.

This pattern suggests a potential mid-term continuation of the downtrend
toward the $2.1K support level.

Technical Analysis

By Shayan

The Daily Chart

Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum’s price action on the daily chart has highlighted a bull trap. Much
like in late August, when ETH broke above the descending channel’s middle
threshold only to be swiftly rejected, a similar pattern has unfolded
recently.

After the price briefly surpassed the $2.6K resistance, it failed to maintain
momentum and faced considerable selling pressure, resulting in a 15% drop.
This failure to establish a higher high indicates sellers dominance in
the market.

Now, the cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта is approaching a crucial support zone of around $2.1K,
which aligns with a previous major swing low. It seems likely to enter a
descending consolidation phase for the mid-term, gradually declining toward
this key level. Source: TradingView

The 4-Hour Chart

On the 4-hour chart, Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum s inability to maintain upward momentum
near the 0.5 ($2.6K) 0.618 ($2.8K) Fibonacci levels triggered a
bearish three-drive pattern.

This well-known reversal pattern and a bearish divergence between the price
and the RSI indicator suggested that sellers were regaining control over the
market. Consequently, Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum experienced a sharp decline, falling back
toward the ascending flag’s lower boundary of $2.3K.

Currently, sellers aim to push Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum’s price below the flag’s lower
boundary, which would likely begin a fresh bearish trend. If this breakout to
the downside occurs, ETH s next primary target would be the $2K
psychological support. However, the $2.1K threshold remains buyers
first line of defense. Source: TradingView

Onchain Analysis

By Shayan

This analysis focuses on the 50-day moving average of Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum s funding
rates, which provides a clearer picture of the broader sentiment within the
futures market.

Recently, ETH s 50-day moving average funding rate has been steadily
declining, reaching its lowest level in 2024. This persistent downtrend
highlights bearish sentiment among futures traders, indicating an overall lack
of buying interest in the market. Such conditions are often linked to
declining prices, as short-sellers dominate the market.

For Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum to recover and rise to higher price levels, demand from the
perpetual futures market must increase. The continuous drop in funding rates
suggests that the selling pressure is more aggressive than buying interest,
reflecting bearish expectations for ETH in the mid-term.

Although negative funding rates are generally associated with bearish
conditions, they can sometimes signal a potential market reversal.

This happens through short liquidation cascades, where aggressive short
positions get liquidated, triggering a rapid surge in price. For this to
occur, however, substantial buying pressure from the spot market needs to
support a rebound. Source: CryptoQuant

SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this
link to register a new account and receive $600 exclusive welcome offer on
Binance ( full details ).

LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this
link to register and open a 100 USDT-M position for free!

Disclaimer: Information found on CryptoPotato is those of writers quoted. It
does not represent the opinions of CryptoPotato on whether to buy, sell, or
hold any investments. You are advised to conduct your own research before
making any investment decisions. Use provided information at your own risk.
See Disclaimer for more information.

Cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта charts by TradingView.

Tags: Ethereum (ETH• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum) Price

============= Итог: 1,9990 ; Экономика#Финансы#Платежные средства#Платежные системы интернета #Криптовалюта#Ethereum


Copyright © 2007-2024 ООО «RelTeam»