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Cryptocurrency News Articles
Ethereum (ETH) Loses Favor with Institutional Investors, ETF Performance Lackluster
Nov 22, 2024 at 11:25 pm
Ethereum slipped to a low of 0.03187 against Bitcoin on Friday, November 22. As Bitcoin made its way towards the $100,000 target, Ethereum price dropped
Ethereum price slipped to a three-year low against Bitcoin on Friday as the world’s largest cryptocurrency continued to rally towards its $100,000 target. ETH price dropped below a critical support level that was maintained for nearly three years since 2021.
Bitcoin price rallied towards the $100,000 target on Friday, November 22. As the flagship cryptocurrency continued its ascent, several altcoins observed gains in the market. However, Ethereum price slipped to a new low against BTC, dropping below 0.032 in the past few hours of Thursday trading session.
As Bitcoin price rallied towards $100,000, several altcoins observed gains in the market. However, Ethereum price slipped to a new low against BTC, dropping below 0.032 in the past few hours of Thursday trading session.
After observing a high of 0.11 BTC in March 21, the ETH/BTC pair began to decline in the bear market that followed. A three-wave (ABC) corrective structure unfolded over the course of two years, leading to a decrease in the pair.
The structure completed with a wave C low of 0.03187 BTC on November 22, 2024. This level also served as support for the past three years, starting in December 2021.
A bullish wave 1 of an A-B-C corrective rally began to form from the 0.03187 BTC low. It quickly rallied towards the 0.042 resistance on November 27. After failing to break through this level, the pair observed a pullback in wave 2.
The pair consolidated within a narrow range for the past few days as it approached the 0.0382 resistance. A breakout from this level and the continuation of the rally towards the 0.042 resistance would signal the resumption of bullish momentum in ETH.
On the other hand, failure to break past the 0.0382 resistance could lead to a decrease in buying pressure and a potential decline towards the 0.035 support level.
Further sell-off pressure might cause ETH to test the 0.03187 support once more, completing the A-B-C corrective rally and signaling a bearish continuation in the ETH/BTC pair.
As Bitcoin price observed a strong rally towards the $100,000 target, several altcoins observed gains in the market. However, Ethereum price slipped to a new low against BTC, dropping below 0.032 in the past few hours of Thursday trading session.
After observing a high of 0.11 BTC in March 21, the ETH/BTC pair began to decline in the bear market that followed. A three-wave (ABC) corrective structure unfolded over the course of two years, leading to a decrease in the pair.
The structure completed with a wave C low of 0.03187 BTC on November 22, 2024. This level also served as support for the past three years, starting in December 2021.
A bullish wave 1 of an A-B-C corrective rally began to form from the 0.03187 BTC low. It quickly rallied towards the 0.042 resistance on November 27. After failing to break through this level, the pair observed a pullback in wave 2.
The pair consolidated within a narrow range for the past few days as it approached the 0.0382 resistance. A breakout from this level and the continuation of the rally towards the 0.042 resistance would signal the resumption of bullish momentum in ETH.
On the other hand, failure to break past the 0.0382 resistance could lead to a decrease in buying pressure and a potential decline towards the 0.035 support level.
Further sell-off pressure might cause ETH to test the 0.03187 support once more, completing the A-B-C corrective rally and signaling a bearish continuation in the ETH/BTC pair.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
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- The Fascinating World of Rare British 50p Coins: From Benjamin Bunny to Kew Gardens
- Nov 23, 2024 at 04:25 am
- The world of coin collecting has seen a surge in interest over the years, with certain rare coins fetching eye-watering prices at auctions and on marketplaces like eBay. Among the most sought-after coins in the UK are 50p pieces, particularly those that feature unique designs or commemorate significant national events.
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- The King Charles III 50p Coin: A New Era of Collectibles
- Nov 23, 2024 at 04:25 am
- The Royal Mint has released a series of 50p coins featuring the portrait of King Charles III, but one particular coin has quickly surpassed even the iconic Kew Gardens 50p coin in terms of desirability. With the growing interest in coin collecting, it’s now more important than ever to check your change — you may be holding onto a hidden treasure that could be worth much more than its face value.
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- XRP (XRP) Keeps Attracting Interest With Its Increasing Price Trajectory as Rexas Finance (RXS) Emerges a Possible Rival
- Nov 23, 2024 at 04:25 am
- XRP has increased 4.34% over the previous 24 hours, raising its market capitalization above $65 billion. With analysts speculating about the likelihood of a major price breakout, this little movement has driven forecasts that XRP might shortly break $1.50. But another growing star in the crypto scene while the globe observes XRP’s every action is Rexas Finance (RXS). A Ripple millionaire sees this coin as a major rival to XRP’s supremacy since he believes it might soar by an amazing 19,900% to $16 in the next 70 days or less.