Skip to main content

Crypto Analyst Issues Ethereum Alert, Says ETH Approaching the First ‘Trouble Area' – Here Are His Targets


Trouble Ahead for ETH/BTC Pair
Credible Crypto notes that ETH/BTC has been trading in a range for the past few weeks, and it is now approaching a key resistance level at 0.04 BTC. The analyst believes that the pair will likely face a rejection at this level, which could lead to a pullback towards the support level at 0.0315 BTC. This potential rejection could also coincide with a breakout for Bitcoin, which could further weigh on the price of Ethereum.
Bitcoin Dominance Could Rise
Credible Crypto also points out that Bitcoin dominance, which measures Bitcoin's market capitalization as a percentage of the entire crypto market, has been on the rise. This means that investors are currently showing more interest in Bitcoin compared to other cryptocurrencies, including Ethereum. If this trend continues, it could put further downward pressure on ETH/BTC and push the pair towards the support level.
Market Sentiment is Turning Bearish
The crypto analyst also mentions that market sentiment is starting to turn bearish, which could also affect the price of Ethereum. He notes that many traders are getting greedy and complacent, which is often a sign of an upcoming market correction. In addition, the recent rejection of the $2,000 level for Ethereum could further dampen sentiment and push traders towards selling their positions.
Hashtags and Crypto Tickers to Watch
As Ethereum faces potential trouble ahead, keep an eye on the hashtags #ETH, #BTC, and #crypto on social media platforms for the latest updates and discussions on the price movements. Also, pay attention to the crypto tickers ETH/USD and ETH/BTC on trading platforms to stay informed on the market trends and potential entry/exit points for your trades. Always do your own research and consult with a financial advisor before making any investment decisions.


Sentiment Result: Negative

Image

Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

Bitcoin Price Recovers After Fed Announces No Rate Hike At FOMC

📈💰The Federal Reserve announced today that it will maintain its current interest rates, citing a strong job market and moderate economic growth. This decision comes as no surprise to those in the crypto community, as many have been anticipating this outcome for weeks. However, this news may have some investors feeling slightly disappointed, as they were hoping for a rate cut to boost the market.💸💻Crypto tickers such as BTC, ETH, and XRP have been trending upwards in recent weeks, with many investors hoping for a continued bull run. However, with the Fed's decision to keep interest rates steady, some may be wondering if this will have a negative impact on the market. While it's impossible to predict the exact effect on crypto prices, it's important to remember that the Fed's decision is based on a variety of factors and not solely on the crypto market.📉🌎The Fed's decision also has implications for the stock market, with many investors closely watching the anno...
Post a Comment
Continue Reading »

Bitcoin ETF Blitz: 15,000 Morgan Stanley Advisors Start Tomorrow

This move by Morgan Stanley is expected to bring in a flood of institutional and retail investors into the crypto space, driving up the demand and value of popular cryptocurrencies like BTC, ETH, and ADA . What are ETFs and why are they important? ETFs, or Exchange Traded Funds, are investment vehicles that track the performance of a specific asset or group of assets, such as stocks, commodities, or in this case, cryptocurrencies. These funds allow investors to gain exposure to the crypto market without directly owning the underlying assets, making it an attractive option for those looking to diversify their portfolio and manage risk. Morgan Stanley's entrance into the crypto market This announcement by Morgan Stanley marks a significant milestone in the acceptance and adoption of cryptocurrencies by traditional financial institutions. With over $4 trillion in client assets, the firm's foray into the crypto space is expected to create a ripple effect and pave the way for...
Post a Comment
Continue Reading »

DeFi lender Moonwell enables USDC lending throughout Ethereum

The tool, powered by Base, also lets users leverage their digital assets to send USDC throughout the Ethereum ecosystem. Sentiment Result : Positive
Post a Comment
Continue Reading »