Ethereum In Tight Range – Will Selling Pressure Push ETH Below $1,250?
Ethereum, the undisputed ruler of the altcoin market, is now stuck in a bear market as the token struggles to break the $1,300 resistance level. However, the current market price is $1,302.87, only 0.22 percent more than the key psychological buy point. Despite how good this sounds, the way the market is moving right now, the bear market is likely to continue this month, which is not good news for ETH. The possibilities of a bear market recovery for ETH are slim due to the terrible state of the macroeconomy, according to The Guardian. In this year’s much-hyped “Uptober,”....
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The crypto market has been experiencing a rebound during today’s session with Ethereum showing strong momentum. The second largest crypto by market cap has been trending sideways displaying an increasing selling pressure on higher timeframes, but today ETH holders seem hopeful of further gains. Related Reading: Brace For Impact: Bitcoin Price Primed For Deep Correction Below $90,000 At the time of writing, Ethereum is trading at around $2,600 with a 3.5% gain on the past 24 hours. Over the past week, the ETH price shows larger gains with 4.3% returns, the best performance on this timeframe....
Ethereum has witnessed some intense selling pressure following its latest push higher, with bulls trying to defend $600 as bears aim at pushing it below this level The selling pressure here has proven to be quite intense throughout the past few days, but bulls have been able to absorb all of it and continue pushing it higher Where the rest of the market trends in the near-term will depend largely on the $600 level and […]
Ethereum (ETH) has been stuck in a tight range, trading below $1,900 and above $1,750 after days of heavy selling pressure. The broader crypto market remains under stress, with fear dominating sentiment and keeping ETH from regaining momentum. Related Reading: Dogecoin Network Activity Surges 47% In A Month – What’s Next for DOGE? The downturn is largely driven by macroeconomic uncertainty and escalating trade war fears, which have shaken both crypto and the U.S. stock markets. As investors brace for further volatility, some fear that the market is setting up for a deeper correction.....
Ethereum is currently at the mercy of sellers that could put a huge dent on its bullish momentum and pull it back to the $1,500 region, or even lower. The king of all altcoins took advantage of the crypto market’s late October push, surging all the way to $1,655. It tried to move past this particular territory to be closer to its $1,700 target. ETH is steadily holding the $1,600 zone, for now Ethereum could retest the $1,500 support level due to tremendous selling pressure The altcoin is forecasted to trade below $1,400 30 days from now But the effects of the Federal Reserves’ 75 bps....
Bitcoin’s price action as of late has done little to offer investors with insights into its near-term outlook. Its price has mainly been oscillating between highs of $11,000 and lows of $10,000, with each attempt to break out of this tight trading range resulting in the cryptocurrency seeing massive inflows of selling pressure that force […]