Ethereum

In a flash, Ethereum is back to trading under $3,000 after just weeks ago reaching a high well over $4,000. The wider crypto market correction got the best of ETH and the rest of altcoins especially, and even managed to take down Bitcoin. However, if past market cycles are any indication of future results, the crash could be the first touch of an ascending trendline that sends the top-ranked altcoin to around $10,000 per ETH. How DeFi and NFTs Make For A Very Different Bull Run Than ICOs During the 2017 bull market, both Bitcoin and Ethereum soared as money flowed into the market. Much of that capital trickled its way down to ICOs, which only further fueled the FOMO for ETH. Eventually, they also led to the collapse of the second-ranked cryptocurrency and the start of the Ethereum bear market. Today things are very different. The most important altcoin in the space carries the rest of the market on its back. Sure that leads to high fees and slower transactions, but that’s because DeFi is such a big deal and so are NFTs. Related Reading | The Bearish Signal Ethereum Bulls Need To Fear These two transcendent technologies are also thanks to Ethereum, and while other chains could take the lead, first-mover advantage is hard to beat. Even though the altcoin collapsed in price recently, the pullback was technical and fundamentals remain plenty bullish. This could result in the latest selloff being the bottom, and after some gyrating in an ascending pattern, a breakout to $10,000 could be next for ETH. The ascending triangle would target $10K ETH | Source: ETHUSD on TradingView.com Analyst: Repeating Triangle Fractal Could Send Ethereum To $10K The pattern in reference is an ascending triangle pattern, pictured above. The pattern also matches the final consolidation phase of the last bull market, before Ethereum ran to all-time highs and the bear market started. Related Reading | Here’s Where The Ethereum Rally Could Pause, According To Bitcoin Blueprint Ether has a lot more going for it this time around, but after a run from $4,000 to $10,000, the market might need a reset – much like the market needed to reset after the rise from $500 to $4,000 over the last year. The path Ether could take if the fractal confirms | Source: ETHUSD on TradingView.com According to one trader who also sees the pattern playing out, the target of the structure will be $10,000 per ETH. Adding in an ascending pitchfork channel and some bars from the last breakout projected forward, and the price action would fit. The path Ethereum takes would only be visible in hindsight, but if accurate, the crypto market has one more leg up before the bull market is over. Featured image from iStockPhoto, Charts from TradingView.com

Ethereum failed to continue above $2,900 against the US Dollar. ETH price corrected gains and it is now trading near a major support at $2,640 and the 100 hourly SMA. Ethereum broke the $2,850 resistance, but it failed to gain pace above $2,900. The price is now testing the $2,650 support and the 100 hourly simple moving average. There was a break below a key bullish trend line with support at $2,750 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the 100 hourly SMA to avoid a drop towards the $2,380 support. Ethereum Price Reaches Key Support Ethereum extended its recovery wave above the $2,800 and $2,850 resistance levels. ETH even pushed above the $2,900 level and settled nicely above the 100 hourly simple moving average. However, it failed to gain pace above $2,900. The bulls made two attempts to push the price above the $2,920 level, but they failed. The recent high was formed near $2,912 before the price started a downside correction. Ether corrected lower below the $2,850 and $2,800 support levels. There was a break below a key bullish trend line with support at $2,750 on the hourly chart of ETH/USD. The pair even declined below the 23.6% Fib retracement level of the upward move from the $2,370 swing low to $2,912 high. Ether price is now testing the $2,650 support and the 100 hourly simple moving average. It is close to the 50% Fib retracement level of the upward move from the $2,370 swing low to $2,912 high. Source: ETHUSD on TradingView.com On the upside, an immediate resistance is near the broken trend line at $2,800. The next major resistance is near the $2,900 level, above which the price could attempt a move towards the $3,000 resistance zone. More Losses in ETH? If Ethereum fails to continue higher above the $2,800 and $2,900 resistance levels, it could extend its decline. An initial support on the downside is near the $2,650 zone and the 100 hourly SMA. A downside break below the 100 hourly SMA might spark a larger decline. The next key support is near the $2,380 level. Any more losses could lead the price towards the $2,185 support zone. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is currently below the 50 level. Major Support Level – $2,650 Major Resistance Level – $2,800

Ethereum extended its upward move above the $2,750 resistance zone against the US Dollar. ETH price is showing positive signs and it could rise towards $3,000 or even higher. Ethereum extended its recovery wave above the $2,650 and $2,750 levels. The price is now trading above the $2,700 support and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $2,600 on the hourly chart of ETH/USD (data feed via Kraken). The pair is now showing signs of more gains above $2,900 and $2,950. Ethereum Price Remains Well Bid Ethereum remained supported above the $2,500 level and it extended its recovery wave. There was a break above the $2,600 and $2,650 resistance levels, opening the doors for a steady increase. There was a clear break above the 61.8% Fib retracement level of the downward move from the $2,742 high to $2,375 low. Moreover, there was a break above a key bearish trend line with resistance near $2,600 on the hourly chart of ETH/USD. Ether price is now trading above the $2,700 support and the 100 hourly simple moving average. It cleared the last swing high near $2,742 and it is now trading above $2,800. Source: ETHUSD on TradingView.com Besides, it is testing the 1.236 Fib extension level of the downward move from the $2,742 high to $2,375 low. If there are more gains, the price could test the $2,950 resistance. The next major resistance is near the $3,000 level, above which the price could rally towards the $3,000 level. Dips Limited in ETH? If Ethereum fails to continue higher above the $2,900 and $2,9500 resistance levels, it could start a downside correction. An initial support on the downside is near the $2,750 zone. The first key support is near the $2,650 level. Any more losses could lead the price towards the $2,550 support zone and the 100 hourly simple moving average. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is currently well above the 50 level. Major Support Level – $2,750 Major Resistance Level – $2,950

Ethereum extended its upward move above the $2,550 resistance zone against the US Dollar. ETH price settled above the 100 hourly SMA and it might continue to rise. Ethereum extended its recovery wave above the $2,550 and $2,600 levels. The price is now trading above the $2,500 support and the 100 hourly simple moving average. There was a break above a crucial bearish trend line with resistance near $2,250 on the hourly chart of ETH/USD (data feed via Kraken). The pair is now showing positive signs above $2,500, but it is also facing hurdles near $2,760. Ethereum Price Gains Traction Ethereum remained supported above the $2,200 level and it started a steady recovery wave. There was a break above a couple of important hurdles near the $2,250 level. There was also a break above a crucial bearish trend line with resistance near $2,250 on the hourly chart of ETH/USD. It opened the doors for a strong move above the $2,500 level and the 100 hourly simple moving average. Ether even cleared the $2,600 and $2,700 levels. It traded as high as $2,7608 before starting a downside correction. The price corrected lower below the $2,700 level. Source: ETHUSD on TradingView.com An immediate support is near the $2,525 level. It is near the 23.6% Fib retracement level of the upward move from the $1,740 swing low to $2,768 high. The first major support is near the $2,480 level and the 100 hourly simple moving average. On the upside, the first major resistance is near the $2,750 level. A clear break above the recent high could lead the price towards the $2,930 resistance. The next key resistance is near $3,000. Any more gains might call for a test of the $3,200 level. Fresh Decline in ETH? If Ethereum fails to continue higher above the $2,700 and $2,760 resistance levels, it could start another decline. An initial support on the downside is near the $2,500 zone. The first key support is near the $2,480 level and the 100 hourly SMA. The main support is now forming near the $2,255 level. It is near the 50% Fib retracement level of the upward move from the $1,740 swing low to $2,768 high. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is moving lower towards the 50 level. Major Support Level – $2,480 Major Resistance Level – $2,760

Ethereum extended its decline and traded close to the $1,700 zone against the US Dollar. ETH price is recovering, but it is facing a strong resistance near $2,200. Ethereum extended its decline below the $2,000 and $1,800 support levels. The price is well below the $2,500 level and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $2,200 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear $2,200 and $2,400 to start a decent recovery in the near term. Ethereum Price is Facing a Major Resistance Ethereum failed to stay above the $2,000 support level and it extended its decline. ETH even broke the $1,800 level and it settled well below the 100 hourly simple moving average. It traded as low as $1,731 and recently started an upside correction. Ether climbed above the $1,800 and $1,850 resistance levels. There was a break above the 50% Fib retracement level of the recent decline from the $2,495 swing high to $1,731 low. However, it is now facing a strong resistance near the $2,200 level. There is also a major bearish trend line forming with resistance near $2,200 on the hourly chart of ETH/USD. Source: ETHUSD on TradingView.com The trend line is close to the 61.8% Fib retracement level of the recent decline from the $2,495 swing high to $1,731 low. A clear break above the trend line resistance could set the pace for a strong move above $2,200. The next key resistance is near $2,400 and the 100 hourly simple moving average. Any more gains could lead the price towards the $2,800 level. Fresh Decline in ETH? If Ethereum fails to continue higher above the $2,200 and $2,400 resistance levels, it could start another decline. An initial support on the downside is near the $2,000 level. The first key support is near the $1,800 level. The main support is now forming near the $1,700 level and a connecting support trend line. Any more losses could trigger a larger decline towards $1,500 in the coming sessions. The next major support is near the $1,200 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is struggling to stay above the 50 level. Major Support Level – $2,000 Major Resistance Level – $2,200

Ethereum recovered nicely above the $2,750 resistance zone against the US Dollar. However, ETH price must clear $3,000 for a steady increase in the coming sessions. Ethereum is up over 15% and it cleared the $2,750 resistance zone. The price is still well below the $3,000 level and the 100 hourly simple moving average. There is a crucial contracting triangle forming with resistance near $2,880 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear $2,880 and $3,000 to move back into a positive zone in the near term. Ethereum Price is Facing a Key Hurdle Ethereum started a decent recovery wave and it climbed above the $2,500 barrier. ETH even surpassed the $2,650 resistance zone to move into a short-term positive zone, similar to bitcoin. The price even cleared the $2,850 resistance. However, the bulls are facing a major resistance near the $3,000 level and the 100 hourly simple moving average. The recent high was near $3,006 and the price is now consolidating gains. It is still well below the $3,000 level and the 100 hourly simple moving average. There was a break below the 23.6% Fib retracement level of the upward move from the $2,158 swing low to $3,006 high. Source: ETHUSD on TradingView.com It seems like there is a crucial contracting triangle forming with resistance near $2,880 on the hourly chart of ETH/USD. A successful break above the triangle resistance and $2,900 could spark a bullish wave. In the stated case, there are chances that ether price could even surpass the $3,000 level and the 100 hourly SMA. The next major resistance is near the $3,300 level. Any more gains could lead the price towards the $3,500 level. Fresh Decline in ETH? If Ethereum fails to continue higher above the $2,880 and $3,000 resistance levels, it could start another decline. An initial support on the downside is near the $2,800 level and the triangle trend line. The first key support is near the $2,580 level. The 50% Fib retracement level of the upward move from the $2,158 swing low to $3,006 high is also near the $2,580 level. Any more losses could trigger a larger decline in the coming sessions. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly moving into the bearish zone. Hourly RSI – The RSI for ETH/USD is now approaching the 50 level. Major Support Level – $2,580 Major Resistance Level – $2,880

Ethereum extended its rally and it traded to a new all-time high above $3,520 against the US Dollar. ETH price is correcting gains, but it is likely to start a fresh rally above $3,400. Ethereum extended its rally above $3,500 and it traded to a new all-time high near $3,525. The price is now trading well above $3,200 and the 100 hourly simple moving average. There is a crucial breakout pattern forming with support near $3,260 on the hourly chart of ETH/USD (data feed via Kraken). The pair could either rally again above $3,400 or it might dive to test the $3,000 support. Ethereum Price Signaling Fresh Rally Ethereum remained in a strong uptrend above the $3,200 level. ETH outpaced bitcoin and it climbed above the $3,450 resistance zone to move further into a positive zone. It traded to a new all-time high near $3,528 and it settled nicely above the 100 hourly simple moving average. Ether price is now correcting gains and it traded below the $3,400 support. There was also a spike below the $3,250 level, but the bulls defended the $3,200 support. A low is formed near $3,211 and the price is now consolidating. It recovered above the $3,300 and $3,350 levels. There was a break above the 50% Fib retracement level of the recent decline from the $3,437 high to $3,211 low. Source: ETHUSD on TradingView.com However, the price is struggling to gain pace above $3,380. It failed to clear the 76.4% Fib retracement level of the recent decline from the $3,437 high to $3,211 low. There is also a crucial breakout pattern forming with support near $3,260 on the hourly chart of ETH/USD. A successful break above the triangle resistance and $3,380 could start a fresh rally. The next major hurdle for the bulls could be $3,450 or $3,500. More Upsides in ETH? If Ethereum fails to climb above $3,380, it could decline further. An immediate support on the downside is near the $3,260 level and the triangle lower trend line. If there is a downside break below the triangle trend line, the price might even trade below $3,200. In the stated case, ether price may possibly decline towards the $3,000 support. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is just below the 50 level. Major Support Level – $3,260 Major Resistance Level – $3,380

Ethereum extended its rally and it traded to a new all-time high near $3,550 against the US Dollar. ETH price is correcting gains, but it is likely to remain well bid near $3,400. Ethereum extended its rally above $3,500 and it traded to a new all-time high near $3,550. The price is now trading well above $3,400 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $3,390 on the hourly chart of ETH/USD (data feed via Kraken). The pair is correcting lower, but the bulls are likely to remain active near $3,400. Ethereum Price Gains Traction Ethereum formed a new support base above the $3,250 and started a fresh increase. ETH outpaced bitcoin and it broke the $3,400 resistance to start a fresh rally. It even climbed above the $3,500 level and traded to a new all-time high near $3,550. It is now trading well above $3,400 and the 100 hourly simple moving average. Recently, there was a downside correction from the $3,551 high and the price traded below $3,500. Ether traded below the 23.6% Fib retracement level of the recent wave from the $3,289 swing low to $3,551 high. On the downside, the first major support is near the $3,420 level. Source: ETHUSD on TradingView.com The 50% Fib retracement level of the recent wave from the $3,289 swing low to $3,551 high is also near the $3,420 level. The main support is now forming near the $3,400 level. There is also a major bullish trend line forming with support near $3,390 on the hourly chart of ETH/USD. Any more losses might call for a drop towards the $3,250 support zone in the near term. More Upsides in ETH? If Ethereum remains stable above the $3,400 zone, it could start a fresh increase. An immediate resistance on the upside is near the $3,500 level. A successful close above the $3,500 level could lead ether price towards the $3,550 level. The next key resistance is near $3,620, above which the bulls might aim a test of the $3,750 level in the coming days. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is correcting lower and it is approaching the 50 level. Major Support Level – $3,400 Major Resistance Level – $3,550

Ethereum extended its rally and it traded to a new all-time high above $4,000 against the US Dollar. ETH price is showing a lot of positive signs and it is likely to climb above $4,100. Ethereum extended its rally above $3,900 and it traded to a new all-time high near $4,030. The price is now trading well above $3,950 and the 100 hourly simple moving average. There is a crucial bullish trend line forming with support near $3,920 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to continue higher towards the $4,100 and $4,150 resistance levels. Ethereum Price Rallies Further Ethereum remained well supported above the $3,750 zone. The last swing low was formed near $3,722 before ETH price started a fresh increase. It outpaced bitcoin and it broke the $3,900 resistance to start a fresh rally. It even climbed above the $3,950 level and a connecting bearish trend line on the hourly chart. The pair extended its rally above $4,000 and it traded to a new all-time high near $4,030. Ether price is now trading well above $3,950 and the 100 hourly simple moving average. The current price action is very positive, with an immediate resistance at $4,050. It is close to the 1.236 Fib extension level of the downward move from the $3,985 high to $3,722 low. Source: ETHUSD on TradingView.com The first major resistance is near the $4,150 level. It represents the 1.618 Fib extension level of the downward move from the $3,985 high to $3,722 low. Any more gains could set the pace for a strong upward move towards the $4,200 and $4,250 levels in the near term. The next major stop for the bulls may possibly be $4,500. Dips Supported in ETH? If Ethereum fails to continue higher towards $4,150, it could start a downside correction. An initial support on the downside is near the $3,950 level. The first key support is near the $3,920 level. There is also a crucial bullish trend line forming with support near $3,920 on the hourly chart of ETH/USD. If there is a downside break below the trend line, the pair could dive towards the $3,800 support zone. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is well above the 60 level. Major Support Level – $3,920 Major Resistance Level – $4,150

Ethereum is ripping, now well above $4,000 per ETH and in full price discovery mode. But with no obvious resistance levels, how can anyone prepare for when the trending altcoin runs out of steam and eventually reverses? Technical analysis indicators, as well as fundamental tools are two possibilities, however, simple mathematics could also play an important factor. Here’s how, along with a look at how the same math stopped the Bitcoin bull train in its tracks. Crypto Market Cycles, Expectations, And Wild Analyst Targets As much as analysts and traders can get a good read on an asset and its value, or even how price action could play out, there’s truly no predicting every aspect of cryptocurrency cycles. Years ago before Bitcoin became a household name, analyst had been predicting $2,0000-3,000 per BTC. Yet at the height of hype, it reached nearly $20,000 per coin. Related Reading | Lucky Number 7: Ethereum Breaks Total Crypto Monthly Record A lot more people know what Bitcoin is now, and it enjoys a lot more brand visibility, recognition, and hype than it ever had before. Expectations for it now run to well over $300,000 per coin, yet the once trending cryptocurrency has been stuck below $60,000 for weeks now after repeated rejections. The struggle has been largely due to capital flowing into another hotly hyped crypto asset instead: Ethereum. Ethereum versus Bitcoin Fibonacci extensions compared | Source: ETHUSD on TradingView.com Will Ethereum Take Pause Where Bitcoin Took A Breather? Ethereum has not only outperformed Bitcoin in 2021, it has done so since the moment is entered the cryptocurrency market. Like Bitcoin, Ethereum is well above its former all-time high, but hasn’t yet reached any sort of stopping point. However, that could be very close, if Ether follows the path cleared by the first ever cryptocurrency. It was clear skies for Bitcoin until only recently once it surpassed its former peak, and it kept right on roaring not just to double its former high, but it has now tripled it and then some. Related Reading | Creator Of Flawless Top Indicator Says Bitcoin Isn’t Done, Despite Signal To be exact, the high reached the 3.618 Fibonacci extension – which also could end up acting as a logical place for Ethereum to pause also. Fibonacci extensions and retracements levels are ratios based on the Fibonacci sequence – a series of numbers where the sum of the two previous numbers is the following number in the sequence. ETHUSD just tapped the 3 Fib extension, and is headed to the 3.272 next – the first place where Bitcoin began to struggle with resistance. The 3.618 extension still remains the local peak for BTC – is this also where the top ranked altcoin will begin to run out of steam? Featured image from iStockPhoto, Charts from TradingView.com