Tag: Eth Analysis

Crypto Price Analysis Feb-11: Ethereum, Ripple, Cardano, Solana and Shiba Inu

by CryptoPotato

This week, we take a closer look at Ethereum, Ripple, Cardano, Solana, and Shiba Inu.

imgfridaypost

Ethereum (ETH)

ETH failed to push above $3,200 this week and fell back on the $3,000 support level yesterday, where the price is now consolidating. Despite this most recent pullback, the cryptocurrency had a stellar performance this week, with a 16% price increase in the past seven days.

The big question is if ETH can hold above $3,000. If it manages to do so, then bulls might be in a position for another shot at the $3,200 resistance in the coming week. If they fail, however, the cryptocurrency could fall to the next support level at $2,800, which would make it lose a critical psychological level ($3,000).

Looking ahead, the indicators remain bullish, which gives reasons to be optimistic. Buyers need to defend the $3,000 level. Otherwise, sellers may take over the price action in the coming week.

ETHUSD_2022-02-11_11-11-14
Chart by TradingView

Ripple (XRP)

XRP had a major breakout this week, with the price moving above the key resistance at $0.70 and quickly reaching $0.90 after that. Overall, it was a fantastic week for XRP with a 34% price increase.

However, it failed to push above $0.90 and is now found in a correction with support at $0.80. This is not surprising, considering the massive rally that happened not too long ago. If $0.80 fails, then XRP may fall all the way back on the $0.70 level, which is now acting as support (was resistance before the breakout).

The indicators are still bullish for XRP, and this pullback can also be explained by the daily RSI, which briefly entered overbought conditions during the rally and now fell back below 70 points. Once this correction is over, XRP may attempt a new rally to test the critical psychological level at $1.

XRPUSDT_2022-02-11_11-16-48
Chart by TradingView

Cardano (ADA)

ADA also had a good week, but the resistance at $1.2 did not allow it to move higher, and it has been struggling since then. Nevertheless, the cryptocurrency closes the last seven days in green with a nice 9% price increase.

Considering the ongoing correction, ADA may fall back on the key support at $1.1 before any renewed rally can be expected. Even if this happens, the overall price action remains bullish, and after the pullback, ADA may rally once more and try to cross above $1.2.

The indicators remain bullish and seem likely to stay if ADA does not fall under the key support. This should prepare it for a nice rally next week if the bullish momentum resumes. On the other hand, a drop under $1.1 would likely push ADA into a bearish trend.

ADAUSDT_2022-02-11_11-18-47
Chart by TradingView

Solana (SOL)

After a rally to $120, SOL failed to move higher, and since then, the price has been falling towards the key support at $100. It is unlikely for SOL to turn back right now, and a test of the key support appears probable. Despite the current correction, SOL still managed to close the past seven days in green with a 5% price increase.

Volume has been falling as price went higher last week, which was an early signal that SOL did not have the momentum to sustain the rally. The MACD remains bullish on the daily timeframe, but the histogram is showing a loss of momentum with lower highs.

Next week will be crucial for SOL, and buyers have to do their best to defend the $100 level. Any failure there will only embolden sellers to take SOL under $100, which would be a significant defeat.

SOLUSDT_2022-02-11_11-26-59
Chart by TradingView

Shiba Inu (SHIB)

SHIB has been the best performer from our list, with a 50% price increase in the past seven days after a major breakout from the descending channel (in blue on the chart). Now, the price is consolidating above the key support at $0.000029.

If this consolidation continues and the support level holds, then SHIB may chart another leg up, which could take it all the way to $0.000040. The indicators remain bullish for now, and the only concern is the decreasing volume, which may cast some doubts on the strength of this rally.

Looking ahead, SHIB has put an end to the downtrend and started a new surge with a bang. It is unlikely for SHIB to make a lower low considering this latest development. Therefore, the most probable scenario now seems to be a consolidation or continuation of the rally.

SHIBUSDT_2022-02-11_11-37-02
Chart by TradingView

SPECIAL OFFER (Sponsored)


Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.




Cryptocurrency charts by TradingView.





Source

Tagged : / / / / / / / / / / / / / / / / / / / /

Ethereum Price Analysis: Following 17% Weekly Surge, ETH Eyes This Level Next

by CryptoPotato

Key Support levels: $3,000, $2,805 

Key Resistance levels: $3,400, $3,750

Despite a decreasing volume as the price goes up, ETH continued to perform well this week and increased substantially. The key resistance sits at $3,400, and the cryptocurrency appears ready to test this level before any significant pullback. The support at $3,000 has held well and may be revisited if ETH is rejected at the key resistance.

ETHUSD_2022-02-10_16-36-39
Chart by TradingView

Technical Indicators

Trading Volume: The volume continues to decrease, even as the price moves higher. This is a bearish signal and may materialize once the price hits the key resistance.

RSI: The daily RSI has hit 62 points and appears to curve down. The increase from the oversold area was very sharp and a pullback becomes likely in the near future.

MACD: Even if the MACD is bullish, the histogram has turned flat in the last few days. This signals a loss of bullish momentum. Best to be cautious as we approach the key resistance.

ETHUSD_2022-02-10_16-36-54
Chart by TradingView

Bias

The current bias for ETH is bullish. It’s important to monitor the key resistance as a rejection there could lead to a significant correction.

Short-Term Price Prediction for ETH

At the time of this writing, it seems more likely for ETH to test $3.4K rather than not. Once it’s there, it’s important to monitor the price action closely.

SPECIAL OFFER (Sponsored)


Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.




Cryptocurrency charts by TradingView.





Source

Tagged : / / / / / /

Ethereum Price Analysis: ETH Surges Past $3K But Worrying Signs Appear

by CryptoPotato

Key Support levels: $3,000, $2,805 

Key Resistance levels: $3,400, $3,750

ETH’s price action has been somewhat reserved once it reached $3,000 without a strong conviction to move higher. However, despite the hesitation from buyers, the cryptocurrency continued to go higher reaching $3,235 today on Bitstamp. The $3,000 level turned into support, and the next key resistance is found at $3,400.

ETHUSD_2022-02-08_09-36-41
Chart by TradingView

Technical Indicators

Trading Volume: While the price went up, the volume went down. If the overall market turns bearish or enters a pullback, ETH appears weak and can fall under $3,000 again.

RSI: The daily RSI has moved to 60 points, placing it on the bullish side. The buyers need to sustain this level, otherwise, ETH is vulnerable to selling pressure.

MACD: While the daily MACD is bullish, the histogram confirms a loss of momentum. If the histogram makes a lower high, then it is best to take that as a warning. This can quickly be erased if buyers step in.

ETHUSD_2022-02-08_09-36-23
Chart by TradingView

Bias

The current bias for ETH is bullish. However, ETH appears weak with decreasing volume and is losing momentum. The resistance at $3,400 may be hard to pass for that reason.

Short-Term Price Prediction for ETH

Even if ETH is above $3,000, this latest price action can quickly reverse if selling pressure intensifies. The loss of momentum and low volume is a concern. Nevertheless, the current market favors bulls, and ETH can benefit from that. Should the price continue to go up from here, the next key resistance is found at $3,400.

SPECIAL OFFER (Sponsored)


Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 25% off trading fees.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.




Cryptocurrency charts by TradingView.





Source

Tagged : / / / / / /

ETH is Back Above $3,000: Is the Correction Over, and What Level to Watch? Ethereum Price Analysis

by CryptoPotato

ETH has broken above $3,000 and appears poised to move even higher, ending the short-term downtrend. This comes less than two weeks since bottoming at $2160, according to Bitstamp.

Key Support levels: $2,805, $2,500

Key Resistance levels: $3K, $3,400, $3,750

After a decent 2-day rally, ETH broke above the key resistance at $3,000 today. If ETH can turn this level into support (retest and confirm), this impressive rally could continue much further. In addition, there is also significant support at $2,800 should ETH see a deeper pullback.

Looking at the bigger picture, ETH needs to surpass the critical level of $3,400 in order to make a higher high on the daily timeframe. That would be the first confirmation of a clear bullish reversal.

ETHUSD_2022-02-05_17-28-53
Chart by TradingView

Technical Indicators

Trading Volume: High volume has propelled ETH higher with six green candles in the past week. This puts buyers in control.

RSI: The daily RSI has moved above 50 points, making both a higher high and a higher low. This is a significant reversal, and there is plenty of space to move much higher.

MACD: The daily MACD is bullish, and momentum has intensified in the past two days, as indicated by the histogram and moving averages that are rushing higher. The trend is clearly bullish.

ETHUSD_2022-02-05_17-29-24
Chart by TradingView

Bias

The current bias for ETH is bullish, and there are no signs of weakness.

Short-Term Price Prediction for ETH

ETH is now facing two key challenges. The first is to confirm the $3,000 breakout and turn it into support. The second is to move past the $3,400 level which would ensure a major mid-term trend reversal.

The current momentum favors this scenario, but bears may always come back strong at the key resistance levels. Best to be cautious and watch the $2800 – $3000 support range.

SPECIAL OFFER (Sponsored)


Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 25% off trading fees.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.




Cryptocurrency charts by TradingView.





Source

Tagged : / / / / / / /

Crypto Price Analysis Feb-4: Ethereum, Ripple, Solana, Binance Coin, and Luna

by CryptoPotato

This week, we take a closer look at Ethereum, Ripple, Solana, Binance Coin, and Luna.

img1_cryptopost

Ethereum (ETH)

ETH had a very good week, rallying over 17%. Today, the cryptocurrency broke the critical resistance at $2,800 and the price appears ready to move higher towards the next target at $3,000. This latest move higher comes after ETH retested the key support level at $2,500 yesterday.

This price action puts an end to the correction and brings certain optimism to the market. The key question is if ETH can now move beyond the $3,000 resistance. A break above this level would consolidate the most recent gains and open the door to a more significant recovery.

However, the volume on this latest push is not that impressive. As the price moves higher, the bullish momentum has to intensify, otherwise, the price could be rejected at the key resistance by the sellers. The coming week will be decisive in where ETH moves next.

ETHUSD_2022-02-04_13-09-37
Chart by TradingView

Ripple (XRP)

This past week, XRP suffered from a flat trend with price moving sideways, lacking momentum to break away from its current range. The resistance at $0.65 and the support at $0.58 have kept the cryptocurrency in check, and any attempts by the bulls or bears to break away were stopped.

The most recent try to break below the key support level failed and bulls are back in control of the price but seem unable to push XRP to the important resistance. For this reason, in the past seven days, XRP only increased in price by 1%.

At the time of this post, XRP lacks momentum and volume appears flat. This makes any significant move unlikely in the near term. If BTC and ETH have a major breakout, XRP may attempt to break from this range in the coming week. Otherwise, the flat trend is likely to continue.

XRPUSDT_2022-02-04_13-15-32
Chart by TradingView

Solana (SOL)

SOL had a good week and also broke above the $100 level, which was a key resistance in the past seven days. Now, the price is consolidating just above this level, concluding the week with an impressive 17% increase.

The biggest challenge for SOL right now is if it can move higher towards the next key resistance at $130. The current price action and indicators support a continuation towards this key level, but a break above it appears unlikely at the time of this post.

Looking ahead, SOL is well-positioned to recover its losses from the most recent correction, and the current volume favors the bullish side of the market. So long this positive momentum is maintained, the cryptocurrency appears ready to move higher.

SOLUSDT_2022-02-04_13-22-02
Chart by TradingView

Binance Coin (BNB)

After BNB fell under $400, the price finally found support at the $335 level, which has stopped the cryptocurrency from moving lower – so far. Similar to XRP, the price action in the past seven days was flat, and BNB lost 3% of its dollar value.

Currently, BNB is consolidating and may attempt a rally in the coming week towards the key resistance at $418. Reclaiming this level would be essential if BNB is to move higher in the future. A failure, on the other hand, would mean the consolidation may take much longer.

The indicators favor the bulls at this time, but this bias may be soon put to the test as the price moves towards the key resistance. Either way, considering the latest price action, it is unlikely for BNB to fall much lower, and an uptrend seems more likely in the coming week.

BNBUSDT_2022-02-04_13-30-14
Chart by TradingView

Luna

Luna’s downtrend has ended this past week, with the price finding support at around $45. Now, the cryptocurrency is hovering below the key resistance at $54 which has prevented the price from moving higher in the past few days. Overall, Luna’s weekly performance was poor, with a 6% decline.

The indicators have not turned bullish yet and Luna appears to consolidate under the key resistance. Nevertheless, the RSI is making higher lows on the daily timeframe and the MACD could do a bullish crossover if this price action is maintained in the next few days.

Looking ahead, Luna is likely to attempt a break above the $54 level and may rally if successful. However, the current volume is weak and a breakout appears unlikely at this time. Luna may need another few days of consolidation before a breakout is attempted.

LUNAUSDT_2022-02-04_13-42-58
Chart by TradingView

SPECIAL OFFER (Sponsored)


Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 25% off trading fees.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.




Cryptocurrency charts by TradingView.





Source

Tagged : / / / / / / / / / / / / / / / / / / / /

Ethereum Price Analysis: ETH Rejected at $2.8K, Here’s the Key Support

by CryptoPotato

Key Support levels: $2,550, $2,200

Key Resistance levels: $2,800, $3,000

Despite a worthy attempt by ETH to move higher, the sellers stood firm at the $2,800 resistance, which rejected the price and propelled it into a pullback.

The buyers will have to defend the support at $2,500 to avoid further losses as the next key support is found at $2,200. So long the current support holds, this can be an expected pullback after a 30% rally.

ETHUSD_2022-02-03_13-29-35
Chart by TradingView

Technical Indicators

Trading Volume: Despite the fall in price, the selling volume has been weak. This gives bulls a good chance to defend ETH at $2,500.

RSI: After making a higher high, the RSI has turned down due to the rejection at resistance. Nevertheless, this pullback could be temporary, particularly if the RSI makes a higher low.

MACD: The daily MACD remains bullish even if the histogram has made a lower high. Bears have to push ETH under $2,500 to seriously challenge the latest price increase.

ETHUSD_2022-02-03_13-30-18
Chart by TradingView

Bias

The current bias for ETH is neutral. The strength of buyers faded as the price approached $2,800. Thus, ETH may consolidate in a range before a new trend emerges.

Short-Term Price Prediction for ETH

ETH failed to break the key resistance at $2,800 and has been falling back towards the key support at $2,500. Considering the volume profile, the sellers may not be too interested in pushing prices much lower. For this reason, the cryptocurrency may consolidate in this range between the key levels.

SPECIAL OFFER (Sponsored)


Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 25% off trading fees.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.




Cryptocurrency charts by TradingView.





Source

Tagged : / / / / / /

ETH Rallies 30% Since Last Week’s Lows, Is $3,000 Incoming? (Ethereum Price Analysis)

by CryptoPotato

ETH managed to rally towards the next major key resistance level at $2,800. So far, since recording a bottom of $2160 just a week ago, Ethereum’s price had seen massive 30% gains.

Key Support levels: $2,550, $2,200

Key Resistance levels: $2,805, $3,000

ETH closed in green the past five days, reaching the key resistance at $2,805 (20-day moving average line). Now price is consolidating just under this key level in anticipation of a new attempt to break above – in case the bullish sentiment continues.

If successful, ETH would be on a clear path to reach $3,000. From the other side, the support at $2,550 has held well the retest from yesterday (confirmed as support).

ETHUSD_2022-02-01_13-35-54
Chart by TradingView

Technical Indicators

Trading Volume: Decent amount of volume on this latest move higher. The key resistance is putting pressure on the price to decide its direction over the next short-term.

RSI: Great news for bulls as the daily RSI has finally made a higher high. This is very significant because it breaks the downtrend which started in November and could be the start of a major bullish reversal.

MACD: The daily MACD has been bullish for over three days, and the momentum favors buyers at this time. If ETH can break the key resistance, then expect a continuation of this rally.

ETHUSD_2022-02-01_13-36-29
Chart by TradingView

Bias

The current bias for ETH is bullish. We will have to watch the $2800 key resistance levels closely and $3,000 as they will define the price action for the remainder of the week.

Short-Term Price Prediction for ETH

ETH appears well-positioned to break the critical resistance at $2,800, considering the indicators have turned bullish. Nevertheless, buyers should wait patiently until a breakout is confirmed with a successful retest of the resistance as support.

SPECIAL OFFER (Sponsored)


Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 25% off trading fees.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.




Cryptocurrency charts by TradingView.





Source

Tagged : / / / / / / /

Ethereum Price Analysis: ETH Seen 20% Weekly Recovery, Is $3K Retest Next?

by CryptoPotato

Ethereum managed to break above $2,600 after buyers took control of the short-term price action. Since recording a 6-month low on Monday ($2160), ETH recovered over 20%.

Key Support levels: $2,550, $2,200

Key Resistance levels: $2,805, $3,000

ETH had seen a positive weekend so far, managing to break and daily close above the critical resistance at $2,550 which has now turned into support. The immediate resistance is now found at $2,805 and if ETH maintains the bullish momentum, then the price might target the $3K milestone, which is a key psychological level.

ETHUSD_2022-01-30_13-20-36
Chart by TradingView

Technical Indicators

Trading Volume: Decent volume during this most recent rally. However, the weekend volume remains low, and best to wait for Monday to confirm the current price action’s momentum.

RSI: The RSI has surged above the oversold area and is moving higher. The most important thing is for the RSI to make a higher high and break away from the downtrend that has lasted since November.

MACD: Good news for buyers as the daily MACD did a bullish crossover today. This can indicate the start of a significant rally that can push ETH back towards $3,000.

ETHUSD_2022-01-30_13-21-00
Chart by TradingView


Bias

The current bias for ETH is short-term bullish, as shown by the indicators.

Short-Term Price Prediction for ETH

ETH is giving some clear bullish signals and appears ready to move even higher. If ETH can break the resistance at $2,805 and then challenge the key psychological level at $3,000. The momentum over the weekend is not the strongest, thus best to wait for the Monday’s price action to confirm the current bias.

SPECIAL OFFER (Sponsored)


Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 25% off trading fees.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.




Cryptocurrency charts by TradingView.





Source

Tagged : / / / / / / /

Crypto Price Analysis Jan-28: Ethereum, Ripple, Cardano, Solana, and Luna

by CryptoPotato

This week, we take a closer look at Ethereum, Ripple, Cardano, Solana, and Luna,

Ethereum (ETH)

This past week, ETH finally found support after a significant crash under the $3,000 level. The support at $2,200 managed to stop the downtrend, and now the price is found in a consolidation mode below the key resistance at $2,550. It was not an easy week for ETH, losing 20% of its dollar value.

The cryptocurrency attempted to rally this past Wednesday, briefly reaching $2,725 before sellers pushed the price back below the key resistance. Since then, ETH has not managed to retest the level and has moved sideways. While this shows some indecision in the price action, at least this most recent move has prevented ETH from dropping lower.

As price consolidates, market participants become more uneasy because there is no way to know if this consolidation precedes a further correction or a recovery. The indicators do not bring any confidence on the buyer side, and the overall market appears weak.

ETHUSD_2022-01-28_11-37-55
Chart by TradingView

Ripple (XRP)

XRP has been moving just above the key support level at $0.58 for most days in the past week after a significant drop last Friday. Overall, XRP fell by 17% compared to seven days ago and has failed to recover most of the recent losses.

The current price action does not inspire confidence, and a retest of the key support appears likely. The resistance is found at $0.65, and the last retest was sharply rejected by the bears. Since then, the price has been on a slow descent towards support.

Looking ahead, XRP lacks buying pressure to attempt a breakout, and if the market remains weak, it may be that sellers will take advantage and push the cryptocurrency lower yet again. The RSI on the daily timeframe has not left the oversold area in over a week now. This signals a strong downtrend as the bias remains bearish for XRP.

XRPUSDT_2022-01-28_11-46-45
Chart by TradingView

Cardano (ADA)

ADA appears on a clear path towards testing the support at $1 after failing to rally beyond the resistance at $1.1. Price has continued to make lower highs, and in the past seven days, ADA lost 19% of its dollar value.

Moreover, ever since the cryptocurrency made its all-time high at $3.1, the trend has been bearish, with lower lows and lower highs. The most recent lower low was made last Saturday. This re-confirms the bearish trend, and continuation is the most likely outcome. Volume has also decreased substantially, which may explain why the price is hesitating on where to go next.

A break below $1 might have a major psychological impact on ADA’s future price action. Therefore, it’s expected to see a significant battle over the coming days as buyers and sellers will fight for dominance around this key level.

ADAUSDT_2022-01-28_11-56-26
Chart by TradingView

Solana (SOL)

SOL mirrors ADA and shows a similar level of uncertainty just above the key support at $79. The price action remains bearish with lower highs and lower lows after a failure to break above the key resistance at $100. A retest of the support appears likely, and SOL closed the past seven days in red, losing 30% of its value.

Sellers continue to dominate the price action, with five red daily candles in the past seven days. Moreover, the daily RSI has been moving flat in the oversold area at around 24 points for over a week. The failure of SOL to rally and move away from such extremes is a warning sign that sellers may not have finished their job yet.

Looking ahead, SOL has a good chance to stop the downtrend at the $79 support level. Then, if buyers return to the market, it can attempt a recovery.

SOLUSDT_2022-01-28_12-11-27
Chart by TradingView

Luna

Luna lost a key support level yesterday, falling under $54, and now the price appears ready to move lower. If buyers cannot stop this selloff, then Luna is likely to fall to the next support level at $42. Overall, it had a very disappointing week, losing 33% of its value over the past seven days.

The former support level at $54 has now turned into resistance, and the indicators are in a free fall. The daily RSI has not yet reached the oversold area, indicating that Luna can continue to fall for quite some time until it reaches this extreme that may attract buyers again.

The MACD histogram and moving averages are also expanding downward, with little evidence this selloff will end soon. Right now, the sellers dominate the chart with six red candles in the past seven days.

LUNAUSDT_2022-01-28_12-22-42
Chart by TradingView

SPECIAL OFFER (Sponsored)


Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 25% off trading fees.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.




Cryptocurrency charts by TradingView.





Source

Tagged : / / / / / / / / / / / / / / / / / / / /

Ethereum Price Analysis: ETH’s Recovery in Question Following Failure at $2.7K

by CryptoPotato

Key Support levels: $2,200, $1,900.

Key Resistance levels: $2,550, $3,000

Yesterday’s excitement in the market was short-lived. ETH rallied to $2,700 but quickly fell back below the key resistance at $2,550. For this reason, it’s reasonable to assume that this was a fake-out and until the key resistance is confirmed as support, it is too early to confirm a breakout. The support sits at $2,200.

ETHUSD_2022-01-27_15-31-37
Chart by TradingView

Technical Indicators

Trading Volume: The volume on the most recent rally was good. It seems unlikely for ETH to fall much lower at this time, considering buyers are back.

RSI: During the crash, the daily RSI went to almost 21 points, falling deep into the oversold area. Now, the RSI sits at 28 points and is about to leave it. This is good news for buyers and may set the stage for a possible price breakout.

MACD: The daily MACD is curving back up at a fast rate, as indicated by the histogram. If a positive crossover can take place in the coming week, then ETH has a good chance to enter a sustained relief rally.

ETHUSD_2022-01-27_15-31-58
Chart by TradingView

Bias

The current bias for ETH is currently neutral. The price action indicates an equilibrium has been reached between market forces, with sellers unable to push prices much lower.

Short-Term Price Prediction for ETH

If ETH is able to break the key resistance at $2,550 again and make it support, then a sustained relief rally could take the cryptocurrency higher. Should ETH fail to rally, then the key support at $2,200 has proven resilient in the face of sellers.

SPECIAL OFFER (Sponsored)


Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 25% off trading fees.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.




Cryptocurrency charts by TradingView.





Source

Tagged : / / / / / /
Bitcoin (BTC) $ 27,088.26 0.66%
Ethereum (ETH) $ 1,891.11 0.82%
Litecoin (LTC) $ 96.29 1.12%
Bitcoin Cash (BCH) $ 114.98 0.03%