Ethereum bounces but ETH price in danger of turning $2.3K into new resistance
The Federal Reserve chairman sidelined inflation concerns, which appears to have coincided with a relief bounce for Ethereum. Ethereum's native token Ether (ETH) reclaimed $2,000 in the early New York trading hours Wednesday as crypto traders assessed the Federal Reserve Chairman Jerome Powell's prepared congressional testimony.The ETH/USD exchange rate surged 7.19% to reach its intraday high of $2,019.90. Likewise, Bitcoin (BTC), whose 7-day positive correlation with Ether stands at 0.84 above zero, climbed, albeit by a modest 0.75%, hitting $32,379.Ether bounces of key support area....
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Ethereum price has rallied yet again in the last 24 hours. ETH has demonstrated an 8% jump over the past day. This has made the altcoin break past a few trading levels and now flipped them into support lines. The altcoin was quite bullish at the time of writing. In just one week, the coin gained more than 20%, turning the price action bullish. The technical outlook of Ethereum was also leaned towards the bulls as demand for the altcoin turned heavily positive at the time of writing. As a result, buying strength also turned optimistic at the time of writing. Ethereum can target the $1,700....
The price of Cardano (ADA) has shown bullish signs and could be set for a major run against Tether (USDT) after bouncing from key support. Ethereum price rallied with so much strength from a region of $1,670 to $2,000 ahead of the Ethereum “Merge”. This has brought relief bounces for many altcoins, including the price of Cardano (ADA). Related Reading: Cardano Price Sits Pretty At $0.5, Why A Breakout Is On The Horizon “The Merge” is an upgrade on the Ethereum network from Proof-Of-Work (POW) to Proof-Of-Stake (POS) so as to increase its network efficiency in....
Ethereum price managed to hold the $10.80 support during the recent decline, and ETH/USD may now attempt to retest the last swing high. Key Highlights. ETH price after trading as high as $11.38 found resistance and moved down against the US Dollar. There was an important support trend line at $11.30 of an ascending channel on the hourly chart of ETH/USD (data feed via SimpleFX), which was broken. The price traded towards $10.80 where buyers appeared, and the price bounced back. Ethereum Price Bounces Back. We were following an ascending channel pattern on the hourly chart of ETH/USD (data....
Ethereum price started a recovery wave above $2,000. ETH is now consolidating and remain at risk of another decline below $1,980. Ethereum struggled to extend gains above $2,120 and corrected lower. The price is trading below $2,050 and the 100-hourly Simple Moving Average. There is a contracting triangle forming with resistance at $2,040 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh decline if it stays below the $2,120 zone. Ethereum Price Dips Again Ethereum price managed to form a base above $1,950 and started a recovery wave, like Bitcoin. ETH....
Ethereum price started a fresh decline below the $4,650 zone. ETH is now showing bearish signs and might gain bearish momentum if it drops below $4,340. Ethereum is still struggling to settle above the $4,500 zone. The price is trading below $4,500 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $4,460 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend losses and dive if there is a close below $4,340 in the near term. Ethereum Price Dips Again Ethereum price started a recovery wave after it tested the $4,260....