Basechop crypto

On December 9th, Ethereum reached a new yearly high at $2403, only to experience a sharp decline afterward. Currently, ETH is approaching a critical horizontal support level, prompting a closer examination to determine whether a breakthrough is imminent. Ethereum's Price Retreat from the Yearly High: The price of Ethereum had been steadily rising since early October. On November 5th, it broke through a descending resistance trendline, accelerating its upward trajectory. Following a brief rebound from a horizontal resistance area, ETH reached a new yearly high at $2403. However, the token's price began to decline thereafter, with today's drop being particularly steep. The price dipped to a minimum of $2145 before experiencing a slight bounce. Notably, trader Route 2 Fi observed that ETH hasn't been this weak relative to Bitcoin since June 2022. Source: TradingView The Relative Strength Index (RSI) is sending mixed signals. After forming a bearish divergence (green circle), it dropped but still remains above the neutral level of 50. Read Also: 2 Reasons Ethereum (ETH) Might Outperform Bitcoin (BTC) in Returns ETH Forecast: What Comes First — $2000 or $3000? While the daily timeframe provides conflicting signals, the weekly chart displays a resolute bullish sentiment. This is primarily attributed to the breakthrough of the long-term horizontal resistance zone at $2000. Except for a deviation (red circle) in April, this area has been present on the chart since April 2022. Therefore, its breakthrough is expected to lead to a significant price increase. Cryptocurrency trader Daan Crypto believes that today's decline was triggered by the unwinding of leveraged long positions: "People had too much borrowed money, and the price wasn't moving up. It only needed a tiny push for all these positions to snowball and cause the squeeze we just experienced." As the open interest resets, the upward movement of ETH may continue. The weekly RSI also supports further growth. The indicator is above 50 and trending upward. The next long-term resistance on the weekly timeframe is at $3500, signifying a potential 60% price increase. Source: TradingView Meanwhile, a weekly close of ETH below $2000 would render the bullish breakthrough invalid. In this scenario, the price is likely to decrease by 30% to the next support level at $1500.

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Etherium

Ethereum’s Rollercoaster: Analyzing the Recent Price Fluctuations

5 месяцев тому назад admin

On December 9th, Ethereum reached a new yearly high at $2403, only to experience a sharp decline afterward. Currently, ETH...

OKX Wallet, DeSyn, DeFi protocol, Ethereum, synthetic assets, decentralized asset managemen

2 минуты чтение

OKX Wallet Integrates DeSyn DeFi Protocol, Expanding User Participation in Synthetic Assets and Decentralized Asset Management

6 месяцев тому назад admin

OKX Wallet, associated with the OKX exchange, has announced the integration of DeSyn, a decentralized finance (DeFi) protocol operating on...

Ethereum, 2024 forecast, market trends, Proof of Stake, regulatory changes, investment growth, risk reduction, Bitcoin capitalization, AI assessment, Ethereum adoption, external factors, crypto-technologies, financial market conditions

1 минута чтение

Etherium

Ethereum 2024 Forecast: Balancing Potential Peaks with Market Realities

6 месяцев тому назад admin

In response to a request from CryptoPotato journalists, ChatGPT provides insights into the potential forecast for Ethereum in 2024. The...

2 минуты чтение

Etherium

Ethereum Validator Exodus Slows Emission, Shifting the Landscape

6 месяцев тому назад admin

The growth in Ethereum validator exits from staking has resulted in a slowdown in emission, shifting the cryptocurrency landscape towards...

Ethereum ICO, ETH transfer, Kraken exchange, Lookonchain, DeBank, cryptocurrency transaction, crypto market, Ethereum price.

1 минута чтение

Etherium

Ethereum ICO Participant Moves 3000 ETH to Kraken: Latest Crypto Transaction Update

6 месяцев тому назад admin

In a recent development, a participant from the Ethereum ICO has transferred 3000 ETH to the cryptocurrency exchange Kraken, amounting...

Coinchange, Series B Funding, Decentralized Finance, DeFi, Investment, G1.VC, Spirit Blockchain, Good News Ventures, K2.CA, Atoia Ventures, Mintfox, Earn API, Fintech

1 минута чтение

Etherium

Coinchange Successfully Raises $10M in Series B Funding Round

6 месяцев тому назад admin

Coinchange, a decentralized financial platform, has announced the completion of its Series B funding round, securing a substantial $10 million....

At the Devconnect event in Turkey, Vitalik Buterin presented a strategy aimed at enhancing Ethereum's betting mechanism and overall blockchain performance. The proposed plan involves integrating private mempools and the functionality of ERC-4337 to effectively address issues hindering the network's development. Buterin believes that private mempools can offer users increased privacy and security, allowing them to conceal private cryptocurrency transactions from the attention of users on the public mempool. The ERC-4337 functionality is intended to simplify the use of multi-signature wallets on the network. Another key aspect of Buterin's new concept is the integration of code precompilation functionality. "With precompilation of specific code elements, this functionality has the potential to enhance the efficiency of deploying smart contracts on the Ethereum network, making their execution faster and more cost-effective," explained Vitalik Buterin. The co-founder of Ethereum is concerned about the risks that could potentially lead to the centralization of liquid staking solutions in the Ethereum network, especially in light of the activity of companies like Lido Finance. Therefore, he promises to strive to maintain decentralized processes, including ensuring decentralization in staking liquidity. Earlier, Ethereum advocate and former advisor Steven Nerayoff made another scandalous accusation against Vitalik Buterin. Steven Nerayoff accused the co-founder of Ethereum of plagiarism and borrowing his ideas and inventions.

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Etherium

Vitalik Buterin Unveils Ethereum’s Strategy for Improved Betting Mechanism and Overall Blockchain Performance

6 месяцев тому назад admin

At the Devconnect event in Turkey, Vitalik Buterin presented a strategy aimed at enhancing Ethereum's betting mechanism and overall blockchain...

Ethereum, ETH, technical analysis, yearly high, market trends, resistance levels, RSI indicator, bullish divergence, cryptocurrency traders, price predictions, X platform, ColdBloodShill, Satoshi Flipper, CryptoBusy, Elliott Wave Theory, correction structure, Fibonacci levels, institutional capital, spot ETF launch, market dynamics.

2 минуты чтение

Etherium

Ethereum Struggles to Surpass Yearly High: Technical Analysis and Expert Insights

6 месяцев тому назад admin

On November 24th, Ethereum (ETH) faced challenges in surpassing its yearly high, hovering above the $2000 mark. Examining the market...

Bitcoin, Ethereum, price correction, market cap, cryptocurrency market, support levels, entry points, altcoins, JPMorgan, crypto rally, Bitcoin ETF.

1 минута чтение

Bitcoin and Ethereum Experience Price Corrections, Altcoins Present Entry Opportunities

6 месяцев тому назад admin

The price of Bitcoin underwent a correction, reaching $34,800, and later rebounded to approximately $35,400 within a 24-hour period, marking...

Bitcoin, Ethereum, transaction fees, market surge, spot ETF, BlackRock, ETH price, decentralized exchange, NFT, MetaMask, Solana, Binance Chain, scalability, L1 projects, L2 solutions, Cyber Capital, Justin Bons.

4 минуты чтение

Bitcoin and Ethereum Transaction Fees Soar Amidst Market Surge: Causes and Solution

6 месяцев тому назад admin

The recent surge in the prices of Bitcoin and altcoins comes with its own downside – a bull run often...

Etherium

Ethereum’s Rollercoaster: Analyzing the Recent Price Fluctuations

OKX Wallet Integrates DeSyn DeFi Protocol, Expanding User Participation in Synthetic Assets and Decentralized Asset Management

Ethereum 2024 Forecast: Balancing Potential Peaks with Market Realities

Ethereum Validator Exodus Slows Emission, Shifting the Landscape

Ethereum ICO Participant Moves 3000 ETH to Kraken: Latest Crypto Transaction Update

Coinchange Successfully Raises $10M in Series B Funding Round

Vitalik Buterin Unveils Ethereum’s Strategy for Improved Betting Mechanism and Overall Blockchain Performance

Ethereum Struggles to Surpass Yearly High: Technical Analysis and Expert Insights

Bitcoin and Ethereum Experience Price Corrections, Altcoins Present Entry Opportunities

Bitcoin and Ethereum Transaction Fees Soar Amidst Market Surge: Causes and Solution

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