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Ethereum (ETH) Set for a Breakout as Market Momentum BuildsEthereum ( CRYPTOCAP:ETH ) appears primed for a significant breakout to the $4,500 level, fueled by bullish momentum and recent groundbreaking developments. As Bitcoin (BTC) reaches a historic all-time high of $100,000, attention is shifting towards CRYPTOCAP:ETH , often dubbed the "silver to Bitcoin's gold," indicating that the much-anticipated altcoin season may be on the horizon. Game-Changing Metamask Update A pivotal catalyst for ETH's potential surge is the new feature from MetaMask, one of the most popular decentralized exchanges (DEXs) and crypto wallets. MetaMask now allows users to swap tokens on the Ethereum network without needing ETH for gas fees. This gas fee is incorporated directly into the exchanged tokens, significantly lowering barriers to entry for traders. Previously, users needed CRYPTOCAP:ETH to pay for gas fees when swapping tokens, often hindering smaller traders and leaving profits predominantly in the hands of wealthy investors. This system discouraged many from engaging in trading on the Ethereum network, contributing to Solana's recent dominance in the memecoin landscape due to its lower fees. With this new initiative, Ethereum aims to regain market share by offering a more accessible and user-friendly experience, potentially driving an influx of activity on the network. Currently, this feature is exclusive to the MetaMask browser extension but will soon be available on its mobile app, expanding the accessibility even further. Technical Indicators Signal Bullish Potential From a technical standpoint, ETH's charts reveal promising signs. Despite a 1.73% dip at the time of writing, ETH is trading within a falling wedge pattern—a bullish formation that typically signals an imminent breakout. The Relative Strength Index (RSI) stands at 60, indicating strong buying pressure and positioning the asset firmly in bullish territory. Additionally, CRYPTOCAP:ETH remains above key moving averages, suggesting that upward momentum is building. Notably, CRYPTOCAP:ETH briefly broke above the falling trend channel earlier, signaling the beginning of a potential bullish renaissance. While this move was short-lived, largely due to trading volume being siphoned into BTC, the broader market conditions will favor altcoins in the coming weeks. If Bitcoin's dominance stabilizes, the altcoin season could see CRYPTOCAP:ETH soaring past $4,500 and beyond. A New Era for Ethereum This combination of fundamental advancements and technical strength positions Ethereum for a potentially explosive rally. The reduced gas fee burden will attract more traders to the network, increasing transaction volume and demand for $ETH. Coupled with the broader market rally, this development could mark a turning point for Ethereum ( CRYPTOCAP:ETH ), setting it up to challenge new highs. As the crypto market evolves, Ethereum's adaptability and innovations like those from MetaMask ensure it remains at the forefront. With the stage set, all eyes are on ETH's next big move—potentially reaching the $4,500 mark and beyond in the near future.
COINBASE:ETHUSDLong
by DEXWireNews
2
BB, the correct way of usage - Part OneLike EMA, Bollinger Bands are famous indicators that can be used to analyze the market. We discussed the current usage of EMA in parts One , Two , and Three , and we will continue to do so. Now, let's talk about BB. In ARZ Trading System, we have a specific rule for this indicator, to find the best spot to enter the market. - BB settings: 20 period, 2 deviation. BB meaning: 1. When its bands are converging, we are close to a breakout. We have to consider MC boxes and EMAs to analyze what direction it might break out. 2. When diverging, we are in a breakout. If price movement continues and still we see the bands diverging, we are still in breakout mode. 3. When bands are flat, we are in a ranging market. In our system, the best place for entering into a reversal position is when at the same time, the price has touched MC ( what is MC? ) and BB levels, just as follows: - The MC candle is shown. we expect the market to retrace after reaching the UTP level. - After breaking the UTP level in candle #1, the price couldn't cross and close and retraced in #2 inside the UTP area. So, MC is still valid. - From #2 to #3 we have no reason to trade upward. - In #3 the price has touched both LTP level and BB. So, we look for a buy position. - in #4 we analyze the market as a seller. Because the price has touched both the support of MC and BB. - in #5 again we see a similar situation as #3, so we are buyers. - in #6, the price couldn't cross and close after the breakout candle, so MC is still valid.
COINBASE:ETHUSDEducation
by forexise
1
ETHUSD Short-Term Analysis for 16/11/2024Disclaimer: This analysis is for informational purposes only and should not be considered as investment advice. Cryptocurrency markets are highly volatile, and prices can fluctuate rapidly. Always consult multiple sources and conduct thorough research before making trading decisions. Time Frame: 1-hour Market Analysis: Following our previous analysis, the market remains in a consolidation phase. Although the price bounced off the Demand. However, it lacks impulsive momentum, indicating the correction phase persists. However, once the price crosses the daily Point of Control (POC) and it transitions into a support level at 3,188.86, the price is likely to surge significantly upward. Alternative Scenario: On the other hand, If price dips below invalidation level at 3,014.0 This would warrant caution, as it increases the likelihood of continued downward momentum to retest a weekly point of control at 2,908.64 - 2,850.0 Key Levels: Res:3,6300.00 - 3,700.00 Poc:3188.66 Support: 2908.64 - 2,850.0 Invalidation: 3,014.00 lower support: 2,781.26 - 2,704.0 Trading Bias: The market remains in consolidation, having absorbed inducements. Additional support is added at level 3014.0. The volume is low. If the price slips below the invalidation point, the bullish narrative would be compromised, potentially triggering a reversal.
COINBASE:ETHUSD
by avatarfreak
EthereumEthereum (ETH) trades near $3,040 on Wednesday as on-chain data reveals a mix of capitulation and profit-taking among long-term holders. The selling pressure stems from investors potentially rotating into other better-performing altcoins in the past week.Ethereum investors could be rotating into other alts On-chain data shows that Ethereum is facing rising selling pressure after investors realized losses of $141.3 million on Tuesday — their highest since September 10. On the other hand, a few investors also sold in the past few hours to book profits of about $230 million.The ETH Age Consumed metric, which tracks the movement of previously idle ETH tokens, also saw notable spikes in the past two days, indicating most of the recent selling activity is potentially from long-term holders. The chart below, which shows ETH's mean coin age across several age bands, reveals that most of the selling activity comes from coins within the one to three-year cohort.
BITSTAMP:ETHUSDShort
by KingForex078
1
Unpacking Ethereum's Surge: What's Driving the $3.3K Breakout?Ethereum, the second-largest cryptocurrency by market capitalization, has seen a remarkable surge in recent days, surpassing the $3,300 mark. This significant price increase has sparked widespread interest and speculation among analysts and investors alike. What's Driving Ethereum's Rally? Several factors are contributing to Ethereum's bullish momentum: 1. Anticipation for Shanghai Upgrade: The highly anticipated Shanghai upgrade, scheduled for early 2024, is expected to unlock staked ETH. This event could lead to increased market liquidity and potentially fuel further price appreciation. 2. Growing DeFi Ecosystem: Ethereum's robust decentralized finance (DeFi) ecosystem continues to expand, attracting a growing number of users and developers. As more applications and protocols are built on the Ethereum network, the demand for ETH is likely to increase. 3. Institutional Adoption: Institutional investors are increasingly recognizing the potential of Ethereum as a valuable asset. As more traditional financial institutions allocate capital to cryptocurrencies, Ethereum is likely to benefit from increased institutional demand. 4. Positive Market Sentiment: The overall positive sentiment in the cryptocurrency market, coupled with a broader economic recovery, has contributed to Ethereum's price surge. A Ticking Time Bomb? Derivatives Metrics Explode to Record Highs While Ethereum's price action has been impressive, some analysts are raising concerns about the potential risks associated with the growing derivatives market. Open interest in Ethereum futures and options has reached record highs, indicating significant speculative activity. A sudden market downturn or liquidation event could trigger a cascade of liquidations, potentially leading to significant price volatility. Additionally, the increasing leverage employed by traders can amplify both gains and losses. Analyst Perspectives Analysts have offered diverse opinions on Ethereum's future trajectory: • Bullish Outlook: Some analysts believe that Ethereum's long-term potential remains strong, driven by its robust fundamentals and growing ecosystem. They anticipate further price appreciation, especially as the Shanghai upgrade approaches. • Cautious Optimism: Other analysts are more cautious, highlighting the risks associated with the derivatives market and the potential for a market correction. They suggest that investors should exercise prudence and manage their risk exposure. The Road Ahead for Ethereum Ethereum's future trajectory will depend on a variety of factors, including the success of the Shanghai upgrade, the overall health of the cryptocurrency market, and regulatory developments. While the recent price surge is undoubtedly exciting, it is essential to maintain a balanced perspective and be aware of the potential risks involved. As Ethereum continues to evolve and mature, it will be interesting to see how it navigates the challenges and opportunities that lie ahead.
COINBASE:ETHUSD
by bryandowningqln
Ethereum - Buy It Now Or Never!Ethereum ( BITSTAMP:ETHUSD ) will offer a final retest: Click chart above to see the detailed analysis👆🏻 Ethereum is about to retest a perfect confluence of support from which a bullish reversal is almost certain. Following the overall bullish trend, Ethereum should retest the previous all time high next and then maybe even follow Bitcoin and create new all time highs going into 2025. Levels to watch: $2.000 Keep your long term vision, Philip (BasicTrading)
BITSTAMP:ETHUSDLong
by basictradingtv
36