The suspense is untenable – After an increase of 190% in 2 months, Ethereum crashes by more than 30% at the end of a Black Monday. Should we bury the little prince of crypto?
Ethereum versus the dollar: should you get used to a 4-digit ETH?
We had parted last week in euphoria with the crossing of the symbolic bar of 1000 dollars for Ethereum. He then took the opportunity to register a new record price of 1340 dollars, is an increase of 190% in 2 months.
Ethereum trades at 1070 dollars at the time of writing this article, and is only 35% de son ATH historical. Ethereum remains in a very sustained uptrend, even though we have seen significant volatility in the cryptocurrency markets this week.
Ethereum therefore also suffered the wrath of the violent bearish movement of cryptos on Monday, recording a 34% drop compared to its last higher. Despite this, forays below $ 1,000 have been defended by buyers.
In Daily, we see the appearance of a new higher high (one higher higher) and one higher low (a higher trough), a sign that we are more in a continuation of the uptrend.
Last week we were talking about a possible continuation of the uptrend Ethereum versus Bitcoin. Weekly, we see the formation of a bullish flag and a top exit of it, which would rather confirm this hypothesis.
In Daily, things are all the more marked. After the development of a figure in double bottom, the price came out from the top of its flag and then came to test it again.
For now, the price is again on a support zone, which could be the sign of a new phase of accumulation. The next stake for Ethereum will therefore be crossing, or not, of the horizontal resistance around 0.0034 BTC.
After an eventful week, Ethereum is determined to continue to make people talk about it. After all, Bitcoin had the right to a new ATH … So why couldn’t Ethereum continue to break its records too?