ETH
Ethereum Price Falls Short Above $4,000: Will Bulls Try Again?
Published
5 days agoon
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adminEthereum price failed to settle above the $4,000 zone. ETH is correcting gains and might struggle to stay above the $3,820 support zone.
- Ethereum started a downside correction from the $4,100 zone.
- The price is trading below $3,980 and the 100-hourly Simple Moving Average.
- There was a break below a key bullish trend line with support at $3,940 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could continue to move down if it fails to stay above the $2,820 support zone.
Ethereum Price Fails Again
Ethereum price struggled to stay above the $4,000 level and underperformed Bitcoin. ETH started a fresh decline and traded below the $4,000 support zone.
There was a move below the $3,980 and $3,940 support levels. Besides, there was a break below a key bullish trend line with support at $3,940 on the hourly chart of ETH/USD. The pair even dipped below the $3,850 level. A low was formed at $3,837 and the price is now consolidating losses.
Ethereum price is now trading below $3,920 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,900 level. It is close to the 23.6% Fib retracement level of the downward move from the $4,107 swing high to the $3,837 low.
The first major resistance is near the $3,970 level or the 50% Fib retracement level of the downward move from the $4,107 swing high to the $3,837 low.
The main resistance is now forming near $4,000. A clear move above the $4,000 resistance might send the price toward the $4,120 resistance. An upside break above the $4,120 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,250 resistance zone or even $4,320.
More Losses In ETH?
If Ethereum fails to clear the $3,900 resistance, it could continue to move down. Initial support on the downside is near the $3,820 level. The first major support sits near the $3,780 zone.
A clear move below the $3,780 support might push the price toward the $3,650 support. Any more losses might send the price toward the $3,550 support level in the near term. The next key support sits at $3,500.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone.
Hourly RSI – The RSI for ETH/USD is now below the 50 zone.
Major Support Level – $3,820
Major Resistance Level – $3,970
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Altcoins
Trader Predicts ‘God Candle’ Breakout for Ethereum, Says New All-Time High Loading for One Memecoin
Published
4 days agoon
December 19, 2024By
adminA popular crypto analyst thinks that Ethereum (ETH) is on the verge of printing a massive breakout rally also known as a god candle.
Pseudonymous analyst Inmortal tells his 221,100 followers on the social media platform X that Ethereum’s two-hour chart looks similar to Bitcoin’s (BTC) price action over the last two weeks.
The analyst says that while Ethereum struggles to clear resistance at $4,000, he notes that BTC also had trouble breaching $100,000 for weeks before surging to new all-time highs.
“Same price action, but with one difference.
God candle after the breakout.
ETH.”
Based on the trader’s chart, he seems to predict that ETH will surge close to its all-time high of $4,800 after the breakout. At time of writing, ETH is worth $3,892.
The trader also has his radar locked on the memecoin Floki (FLOKI). According to the trader, FLOKI appears to be trading in a symmetrical triangle pattern and is gearing up to shatter the structure’s diagonal resistance en route to new record highs.
“Second leg up – loading.
New ATH – loading.
Price discovery – loading.
FLOKI.”
Based on the trader’s chart, he seems to predict that FLOKI will explode to a new all-time high of $0.00038. At time of writing, FLOKI is worth $0.000219.
Looking at Solana (SOL), the trader sees the Ethereum rival bursting above its diagonal resistance to rally toward $300.
“Something like this.
SOL.”
At time of writing, SOL is worth $222.60.
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Bitcoin
Analyst Says It’s Time for New Ethereum All-Time High, Sees Bitcoin Going ‘Full Santa Claus Mode’
Published
5 days agoon
December 18, 2024By
adminA closely followed crypto trader believes that conditions are nearly ripe for Ethereum (ETH) to witness a surge to fresh record highs.
Crypto strategist Justin Bennett tells his 115,400 followers on the social media platform X that it’s only a matter of time before Ethereum fully reclaims resistance at $4,000 as support.
According to Bennett, Bitcoin has been on a grind-up this month and traders will eventually rotate some of their BTC profits to ETH to capture more upside potential.
“ETH has struggled at $4,000 for obvious technical reasons, and BTC has stolen the show so far in December.
But I’m betting we will see some of those Bitcoin profits flow into Ethereum soon.
If ETH can clear $4,000-$4,100, there isn’t much stopping a sprint to $4,800 and potentially mid $5,000 to complete this channel.
Time for a new Ethereum ATH (all-time high).”
At time of writing, Ethereum is trading for $3,873.
For the rest of December, Bennett thinks that the two largest crypto assets by market cap will outperform the rest of the digital asset market.
“Focusing on BTC and ETH for the next two weeks makes the most sense, IMO (in my opinion).
Alts will have their time again, but probably not before we see some crazy bullish moves from Bitcoin and Ethereum through the end of the year.”
Looking at Bitcoin itself, the trader says that BTC is in the midst of a Christmas rally, and he expects the crypto king to shatter its diagonal resistance en route to new all-time highs.
“Bitcoin going full Santa Claus mode.
Pullbacks might be hard to come by through the end of the year, especially with the speculation of BTC becoming a US reserve asset under Trump.
Wouldn’t be surprised to see $116,000 or even $125,000 through the end of December.”
At time of writing, Bitcoin is trading for $106,339.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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Analyst
Ethereum Price Crash Incoming? Tron’s Justin Sun Unstakes $209 Million ETH From Lido Finance
Published
5 days agoon
December 17, 2024By
adminThe Ethereum price could face some turbulence, as Justin Sun, the founder of Tron (TRX), has unstaked a whopping $209 million from Lido Finance, a liquid decentralized staking platform for Ethereum. Compared to top cryptocurrencies like Bitcoin (BTC) and Dogecoin (DOGE), the Ethereum price has had a relatively muted performance, skyrocketing to $4,000 before consolidating and struggling to move higher. With the possibility of more sell-offs, Ethereum could see its price crashing down if Sun decides to dump more coins.
Justin Sun Dumps ETH
New reports from Spot On Chain, an AI-driven crypto platform, revealed that Sun recently applied to withdraw a staggering 52,905 ETH tokens worth about $209 million from Lido Finance. According to the on-chain data, this massive withdrawal was part of the ETH stash Sun allegedly accumulated between February and August 2024.
Spot On Chain has revealed that the total amount of Ethereum Sun bought within this period amounted to 392,474 ETH tokens, valued at $1.19 billion. All of these tokens were purchased via three wallet addresses at an average price of $3,027. Presently, the total profit the Tron founder has acquired since his purchase is up to $349 million, representing a 29% increase from its purchasing price.
Interestingly, on October 24, Sun had unstaked a massive 80,251 ETH tokens, worth over $131 million, from Lido Finance. Four days later, he transferred the entire amount to Binance, the world’s largest crypto exchange. This notable move took place just before the price of Ethereum had dropped sharply by 5% in mid-October, which could have resulted in a loss for Sun.
Unsurprisingly, this is not the first time Sun has dumped Ethereum. Spot On Chain revealed earlier this month that the Tron Founder had been cashing in his Ethereum holdings during the market rally.
In November, Sun deposited 19,000 ETH worth $60.83 million to HTX, a crypto exchange. Additionally, he transferred 29,920 ETH valued at $119.7 million to HTX again after its price surpassed $4,000 over the past week. These are just a few transactions the Tron founder has made with ETH over the past month.
Given Sun’s history of large-scale asset movements, further sell-offs could impact the already fragile Ethereum market. Nevertheless, the lingering question remains whether the Tron founder will continue his Ethereum dumping spree.
Ethereum Price Crash Ahead?
While Sun has not publicly commented on his recent large-scale Ethereum withdrawals, the size and timing of these transactions could pose a problem for the altcoin’s future trajectory. Historically, large ETH liquidations have triggered a price crash due to increasing selling pressures.
Related Reading
With the price of Ethereum still unstable and aiming for a stronger upward rally, further large-scale ETH dumps could exacerbate market volatility, especially if other investors or whales follow suit. For now, the price of Ethereum seems to be performing well, recording a more than 7% increase in the last seven days and a 28% surge over the past month, according to CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
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