Bruce Powers, CMT
Markets Today
Ethereum has dropped approximately 38% off its most recent high, while Bitcoin declined as much as 41%. If Ether's October $2,970 low is breached, this crypto could easily reach the next more significant support zone from around $2,446 to $2,305, as seen in the enclosed monthly chart. That price zone includes the Aug. '21 low support, 50% Fib retracement, and the 21-month exponential moving average (EMA).
The views and opinions expressed here are solely those of the authors / contributors and do not necessarily reflect the views of Marketstoday.net. Neither Marketstoday.net nor any person acting on its behalf may be responsible for information contained herein. The content posted here may have been edited to conform to Marketstoday.net policies, terms and conditions. Any investment / trading related article, analysis or commentary are by no means a guarantee of present or future performance and should not be relied upon solely when buying or selling a financial instrument. Every investment no matter how appealing, involves risk and the investor should conduct their own research, consider personal risk tolerance, preference and needs when making an investment or trading decision.
Recommended Content
Editors’ Picks
Ripple on-chain metrics show bullish signs amidst legal struggle with SEC, XRP eyes recovery
Ripple made a comeback above $0.48 on Tuesday and hovers above that level in Wednesday’s European session. Ripple on-chain metrics such as transaction volume and Network Realized Profit/Loss have turned bullish, supporting a recovery in the altcoin.
Bitcoin price falls amidst German government transfers, miners activity
Bitcoin (BTC) extends correction on Wednesday and hovers around $61,000 after finding resistance near the $64,000 level on Monday. Recent on-chain data indicates heightened selling activity from Bitcoin miners early in the week.
Crypto Today: Bitcoin erases gains from end of June, Ethereum declines while Ripple holds
Bitcoin wipes out gains from the last week of June and falls below $60,000 on Wednesday. Ethereum and top altcoins ranked by market capitalization erased gains as the inflation outlook worsened. Ripple holds on to recent gains and hovers above $0.48 on Wednesday.
Three reasons why altcoins could shake off losses this week
On-chain data from Santiment shows that altcoins are currently in the opportunity zone, or generating buy signals. The top three altcoins in the buy zone are Basic Attention Token (BAT), Chromia (CHR), and Highstreet (HIGH), per Santiment.
Bitcoin: BTC price correction could end in July, according to seasonal data
Bitcoin (BTC) price appears poised for a decline this week, influenced by slight outflows in US spot ETFs, selling activity among BTC miners, and a combined transfer of 4,690.28 BTC to centralized exchanges by the US and German governments.