TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Ethereum falling on the heels of Bitcoin

Ethereum falling on the heels of Bitcoin
Bruce Powers, CMTBruce Powers, CMTMarkets 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).

Author

Bruce Powers, CMT

Bruce Powers, CMT

Markets Today

Bruce Powers, CMT, is a global markets technical analyst covering stocks, market indices, and ETFs, cryptocurrencies, Forex, oil and metals.

More from Bruce Powers, CMT
Share:

Editor's Picks

XRP pullback tests $1.40 support amid Ripple Prime product suite expansion

XRP pullback tests $1.40 support amid Ripple Prime product suite expansion

Ripple extends lock-step trading for the third straight day on Friday, as support at $1.40 comes under pressure. The remittance token has remained largely in defense mode since last week’s 72% rally from $1.00 to highs around $1.70.

Crypto Today: Bitcoin, Ethereum, XRP rally loses steam despite steady ETF inflows

Crypto Today: Bitcoin, Ethereum, XRP rally loses steam despite steady ETF inflows

Bitcoin is back below $80,000 at the time of writing on Friday, after a second attempt at breaking resistance between $81,000 and $82,000. Meanwhile, Ethereum and Ripple mirror Bitcoin’s cooling trend, with ETH sliding to $2,500 and XRP falling toward $1.40 support.

Bitcoin Weekly Forecast: Billions in ETF inflows push BTC toward decisive breakout

Bitcoin Weekly Forecast: Billions in ETF inflows push BTC toward decisive breakout

Bitcoin rises over 2% this week, holding near $80,000 after testing the 50-week SMA at $81,114. US-listed spot Bitcoin ETFs are on track for a second straight week of billion-dollar inflows, with $1.13 billion recorded through Thursday.

Hyperliquid Price Forecast: HYPE rally stretches thin amid treasury growth, CFTC innovation push

Hyperliquid Price Forecast: HYPE rally stretches thin amid treasury growth, CFTC innovation push

Hyperliquid (HYPE) is down 2% on Friday after reaching a record high of 86.75 the previous day. Nasdaq-listed Hyperliquid Strategies Inc (PURR) raised almost $650 million in an equity deal to increase its HYPE holding to 29.3 million tokens.

Bitcoin: Billions in ETF inflows push BTC toward decisive breakout

Bitcoin: Billions in ETF inflows push BTC toward decisive breakout

Bitcoin (BTC) extends gains so far this week, trading near $80,000 after testing the 50-week Simple Moving Average (SMA) at $81,114 earlier. Strong institutional demand is supporting the rally, with spot BTC Exchange Traded Funds (ETFs) on track to record a second consecutive week of billion-dollar inflows.