The Future Coin

Bitcoin

$32,074.08

BTC -2.43%

Ethereum

$1,234.91

ETH 0.77%

XRP

$0.27

XRP 0.15%

Litecoin

$137.29

LTC 0.26%

EOS

$2.69

EOS 3.14%

  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • Blockchain News
    • Business News
    • Technology News
    • Policy & Regulations
  • Markets
    • Market News
    • Market Analysis
    • Price Indexes
    • Top Cryptocurrencies
    • Heatmap
  • Opinion
  • Cryptopedia
    • Explained
    • Bitcoin101
    • Ethereum101
    • Bitcoin Cash101
    • ICO101
    • Ripple101
  • Press Releases
No Result
View All Result
The Future Coin
No Result
View All Result
Home Ethereum News

Ethereum’s expected breach above $214 might face a “delay period”

by The Future Coin
May 22, 2020
in Ethereum News
0
Ethereum’s expected breach above $214 might face a “delay period”
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

A decline of 9.53 percent on 21st May was definitely less than ideal for Ethereum, but world’s second-largest digital asset did not breach any major support during the collapse. With a correction phase looming large over the collective industry, Ethereum appeared to gear up from a re-test or continued side-ways movement in the chart.

Ethereum 1-day chart

ETH/USD on Trading View

As observed in the charts, Ethereum’s movement has been in an ascending channel patter since the aftermath of March’s Black swan event. However, over the past week, the token had appeared prime for a bearish breakout as the price continued to mediate below the average-line in the channel. On 21st May, the breakout was completed as Ethereum’s valuation declined.

Now, considering the trend continues over the next week, Ethereum may find itself re-testing support at $180.36. Although long-term support remains at $170, the asset might bounce-back from above $170, since strong support is also assisted by the 200-Moving Average.

Now, according to the VPVR indicator, the trading volume is significant at current range and at $170. Hence, one of these supports might witness a retracement. Relative Strength Index or RSI also appeared pretty neutral at the moment.

The case for strong sideways movement?

ETH/USD on Trading View

Now, on analyzing it from a different period of time, Ethereum’s descending channel also appeared to indicated a bullish breakout. The recent breakout might indicate the strong positioning of Ethereum’s price between $192 and $214. It is quite foreseeable that Ethereum might continue movement between these ranges for a prolonged period of time because facilitating a major breakout. Trading volume was consistent, increasing the chances of a solidified strong bottom.

Source: Coinmetrics

Without excluding the pull of Bitcoin, there is a continued correlation between Bitcoin and Ethereum in the chart. However, Bitcoin hasn’t dictated Ethereum’s movement since mid-April, when the asset dropped under 0.90 correlation factor. Even though in the charts it remains pretty clear, it will be interesting to analyze Bitcoin’s pull with the market momentum of Bitcoin halving.

Source link

EDITOR’S CHOICE

Secretary Yellen’s first action on bitcoin will set the tone for the next four years

Altcoin Price: RSR, FTM, THETA – Technical Analysis

With AI, Big Data and Blockchain, Brazilian Fintech Grows in Business Finance Market

How I revived my small business after being hospitalized at 34

Ethereum Whales Holding 10,000+ ETH Increase by 32 in 30 Days

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – January 23rd, 2021

Best Pick For You

News

  • Altcoin News
  • Bitcoin News
  • Blockchain News
  • Business News
  • Ethereum News
  • Litecoin News
  • Ripple News

Features

  • Market Analysis
  • Opinion
  • Explained
  • Policy & Regulations
  • Top Cryptocurrencies
  • Technology News

Market Tools

  • Market News
  • Price Indexes
  • Bitcoin Price Index
  • Ethereum Price Index
  • Bitcoin Cash Price Index
  • Litecoin Price Index
  • Monero Price Index
  • HeatmapPartner

Cryptopedia

  • Explained
  • Bitcoin101
  • Bitcoin Cash101
  • Ethereum101
  • ICO101
  • Ripple101

© 2020 Coingraph

No Result
View All Result
  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • Blockchain News
    • Business News
    • Technology News
    • Policy & Regulations
  • Markets
    • Market News
    • Market Analysis
    • Price Indexes
    • Top Cryptocurrencies
    • Heatmap
  • Opinion
  • Cryptopedia
    • Explained
    • Bitcoin101
    • Ethereum101
    • Bitcoin Cash101
    • ICO101
    • Ripple101
  • Press Releases

© 2020 Coingraph

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
bitcoin
Bitcoin (BTC) $ 32,448.00
ethereum
Ethereum (ETH) $ 1,243.73
tether
Tether (USDT) $ 1.00
polkadot
Polkadot (DOT) $ 18.58
ripple
XRP (XRP) $ 0.272456
cardano
Cardano (ADA) $ 0.349439
chainlink
Chainlink (LINK) $ 25.01
litecoin
Litecoin (LTC) $ 139.15
bitcoin-cash
Bitcoin Cash (BCH) $ 432.86
binancecoin
Binance Coin (BNB) $ 40.91
stellar
Stellar (XLM) $ 0.271213
usd-coin
USD Coin (USDC) $ 0.998618
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 32,350.00
bitcoin-cash-sv
Bitcoin SV (BSV) $ 174.68
aave
Aave (AAVE) $ 212.74
eos
EOS (EOS) $ 2.71
monero
Monero (XMR) $ 139.20
tezos
Tezos (XTZ) $ 3.21
havven
Synthetix Network Token (SNX) $ 15.05
tron
TRON (TRX) $ 0.029267
uniswap
Uniswap (UNI) $ 9.39
cosmos
Cosmos (ATOM) $ 8.49
vechain
VeChain (VET) $ 0.030279
nem
NEM (XEM) $ 0.217354
theta-token
Theta Network (THETA) $ 1.95
celsius-degree-token
Celsius Network (CEL) $ 4.86
neo
NEO (NEO) $ 24.56
crypto-com-chain
Crypto.com Coin (CRO) $ 0.072480
okb
OKB (OKB) $ 5.92
dai
Dai (DAI) $ 1.00
compound-ether
cETH (CETH) $ 24.84
leo-token
LEO Token (LEO) $ 1.39
maker
Maker (MKR) $ 1,383.60
iota
IOTA (MIOTA) $ 0.454126
cdai
cDAI (CDAI) $ 0.021025
binance-usd
Binance USD (BUSD) $ 0.999232
huobi-token
Huobi Token (HT) $ 5.76
dogecoin
Dogecoin (DOGE) $ 0.008620
dash
Dash (DASH) $ 105.87
filecoin
Filecoin (FIL) $ 22.94
compound-usd-coin
cUSDC (CUSDC) $ 0.021461
avalanche-2
Avalanche (AVAX) $ 12.93
kusama
Kusama (KSM) $ 107.36
sushi
Sushi (SUSHI) $ 7.32
zcash
Zcash (ZEC) $ 86.78
yearn-finance
yearn.finance (YFI) $ 30,795.00
solana
Solana (SOL) $ 3.51
ftx-token
FTX Token (FTT) $ 9.85
ethereum-classic
Ethereum Classic (ETC) $ 7.47
compound-governance-token
Compound (COMP) $ 208.19