Ethereum Price Won’t Go Down Quietly: Risk of Bounce Grows

[CryptoQED]

Ethereum Price Remains Supported
Ethereum attempted a fresh increase above the $1,300 level, similar to bitcoin price. ETH struggled to gain pace for a move above the $1,320 level.

The price traded as high as $1,310 and started a fresh decline. There was a move below the $1,300 support zone. It retested the $1,265 support zone. A low is formed near $1,270 and the price is now consolidating losses. Ether price is now trading below $1,310 and the 100 hourly simple moving average.

An immediate resistance on the upside is near the $1,290 level. It is near the 50% Fib retracement level of the downward move from the $1,310 swing high to $1,270 low.

https://cryptonews.com.co/analysis/eth/ethereum-price-wont-go-down-quietly-risk-of-bounce-grows/

[ryzaadit]

Are you sure?

Everyone, and me also still hoping to "BTC" going down to around 13,000$-15,000$ counted from -80% all time high. So, it's gonna to make effect on "Altcoin" as well since we all know BTC is also one of the reason for bullish & bearish.

[fuguebtc]

Don't try to predict the price of altcoins but just focus on the movement of bitcoin, you will know how altcoins will move, all altcoins still depend on bitcoin. You can see that even the merge event, which is Ethereum's biggest event, cannot cause eth to increase in price because bitcoin doesn't support it, bitcoin doesn't move then eth won't do anything else either.

Don't believe the bullshit analysis from experts, do your own research and come up with your own analysis. Don't just hope for the price to rise but forget that we are in a bear market, the market can continue to crash at any time.

[blockman]

Being confident that it won't be down is encouraging. But let's go and have a look at the reality that nobody knows what will happen next. It could be that you're right but it could also be that you're not right. We even saw it at its new lowest at $900 and that was the time that I missed buying a lot since of budget constraints. However, it's possible that it may be back there again since we're stepping to a probable long bear market again and who knows when it will end.

[KennyR]

The market is completely dependent over the market movement of bitcoin. There is no big movement, and there is chances of forward move reaching close to $19400 from bitcoin and at that stance ethereum will stay high above $1300. Bitcoin could drop down to $19k, if that happens surely the impact will be felt over ethereum and other altcoins. This is common with the market. In all circumstances the market bounces, all that required is the patience.

[tbct_mt2]

The market gives profit to smart and calm people and give loses to stupid and impatient people. It does not satisfy all people who engage in the market.

Not all market participants have profits in bull market and not all of them have loses in bear market. Similar to bounces, dead-cat bounces along the bear market, there are winners and losers too.

We always have buyers and sellers in any market, at any price. That means sellers take profit or cut loss and buyers take risk if they don't know what is their plan and what would likely be the trend of market; or buyer wisely buy and accumulate if they have solid plans and know roughly accurate about trend of market and capital flow in the market.

[Ayers]

Ethereum is now deflationary I suggest you should do your own research, do you know how many ETH are been burned already thanks to good project like XEN? I believe Ethereum can easily surge up to 10k per coin in a few more years, this project is not the same old Ethereum we all know.

because people just stare at the ETH price after the merge and they get frustrated when it doesn't rise as they expected but they forget this. this is something most people don't see, the merge has significant implications and has a strong impact on ETH. it is deflation very well and this will have a huge impact on the development of ETH and its price in the future. take a look at how Binance pushed the price of BNB to an all-time high thanks to a constantly burning supply, people will continue to regret it if they don't buy it now

[piebeyb]

yes the price will continue to rotate at that price as has bitcoin for some time, it's true what all the friends who commented above said, focus on bitcoin because basically altcoin prices are determined based on bitcoin prices, but I don't agree with them and not sure bitcoin will touched under $15k but the market decides everything, so just take the chance to buy cheap

[michellee]

If bitcoin can move fast, it will give altcoins like ethereum a chance to follow suit. But if not, then ethereum will too. We've seen in a few weeks or months about the movement of bitcoin that shows no signs of rising to the top and this is also what causes altcoins not to be able to go up and tend to have a sideways pattern, up and down like bitcoin.

I'm worried that if the bitcoin price drops to a lower level and ethereum follows suit, will you still be able to hold on to bitcoin and ethereum because we still don't know where the prices will go? If bitcoin hits the $15k-$17k point, ethereum could hit below $1k and of course, it will create a temporary panic in the market.

[wxa7115]

Don't try to predict the price of altcoins but just focus on the movement of bitcoin, you will know how altcoins will move, all altcoins still depend on bitcoin. You can see that even the merge event, which is Ethereum's biggest event, cannot cause eth to increase in price because bitcoin doesn't support it, bitcoin doesn't move then eth won't do anything else either.

Don't believe the bullshit analysis from experts, do your own research and come up with your own analysis. Don't just hope for the price to rise but forget that we are in a bear market, the market can continue to crash at any time.

It is so obvious that it is a mystery why more people do not notice something as simple as this, altcoins occasionally present their own movements which are independent from bitcoin, but this is an exception.

The biggest and most profitable movements in the altcoin market appear when bitcoin is moving as well, so while there was a lot of hype surrounding the merge and before it happened this helped to make the price of ETH to go up, we saw what happened after the merge took place, there was no positive movement for ETH at all and people were incredibly disappointed by this, but for those which knew about the correlation between bitcoin and ETH this was not surprising at all.

[Oceat]

yes the price will continue to rotate at that price as has bitcoin for some time, it's true what all the friends who commented above said, focus on bitcoin because basically altcoin prices are determined based on bitcoin prices, but I don't agree with them and not sure bitcoin will touched under $15k but the market decides everything, so just take the chance to buy cheap

It has been proven a lot of times that no matter what the situation of altcoin market bitcoin will always be in the lead be it in bull run or bear market, you might wanna rethink your decision. If bitcoin would drop to $15k then don't expect that Ethereum would pump but what the OP want is bitcoin to drop its price so that most altcoins especially Ethereum would drop its price too. If we have to compare the 2018 correction and this year's correction we might know how long the market held it's ground till we see the bottom.

[piebeyb]

yes the price will continue to rotate at that price as has bitcoin for some time, it's true what all the friends who commented above said, focus on bitcoin because basically altcoin prices are determined based on bitcoin prices, but I don't agree with them and not sure bitcoin will touched under $15k but the market decides everything, so just take the chance to buy cheap

It has been proven a lot of times that no matter what the situation of altcoin market bitcoin will always be in the lead be it in bull run or bear market, you might wanna rethink your decision. If bitcoin would drop to $15k then don't expect that Ethereum would pump but what the OP want is bitcoin to drop its price so that most altcoins especially Ethereum would drop its price too. If we have to compare the 2018 correction and this year's correction we might know how long the market held it's ground till we see the bottom.

i believe bitcoin has been on the ground floor at $17.5k some time ago, the current price is actually holding at $19k and $20k but people are still expecting under $15k to buy it, i think they miscalculated that too, buying now is a good time right before the bitcoin price increased and didn't go back to the ground floor a second time, so taking advantage of the present moment is the best move, all crypto markets based on bitcoin prices that also include ethereum

[Beparanf]

The article seems giving a delusional analysis just to get reader for there TA. The price keeps bouncing at that price level because it's a major support same like Bitcoin current price. Ethereum and other altcoin price is dependent on Bitcoin which is why it just follows Bitcoin movement. Those analysis of your will be invalid once Bitcoin made a move. Only TA matters the most on crypto because it always start the trend except when there is an special event on altcoins which gives a strong buy pressure.

[Pierre 2]

I think we should all agree that now altcoin market is not only affected by Bitcoin but also Ethereum and sometimes even BNB, because they have mant projects working on their native blockchains. Although I don't see huge reason Ethereum going down totally independent from Bitcoin. It went pos which I believe was wrong didn't even affected price that much. Its staying strong as much as Bitcoin is. For months.

[livingfree]

Ethereum is now deflationary I suggest you should do your own research, do you know how many ETH are been burned already thanks to good project like XEN? I believe Ethereum can easily surge up to 10k per coin in a few more years, this project is not the same old Ethereum we all know.

I agree to you about the Ethereum's that have been continuously burned everyday!

But what's its connection with the project you've mentioned, XEN? I don't know that project but we're all mutual thinking that someday Ethereum will reach $10k.

Hopefully when the right time comes, I'm still a holder of it and won't be able to sell when it's half of it or near to it because I may sell most of mine.

[Xal0lex]

Until bitcoin decides on the price movement and trend direction, ETH will definitely hang around in a sideways trend as well. Now the whole market has sharply decreased activity and trading activity as well. No matter what the trading indicators show, if bitcoin will stagnate, ETH will follow it too. It would be too naive to expect that a single coin, in contradiction to the whole market, will start some growth. If a further dump happens, the main thing is for ETH to be able to keep the $1,000 price.

[doomloop]

I think we should all agree that now altcoin market is not only affected by Bitcoin but also Ethereum and sometimes even BNB, because they have mant projects working on their native blockchains. Although I don't see huge reason Ethereum going down totally independent from Bitcoin. It went pos which I believe was wrong didn't even affected price that much. Its staying strong as much as Bitcoin is. For months.

I once said altcoin might be affected by Ethereum because it is the biggest altcoin. It has a reputation the same as bitcoin but I don't consider bnb to be like that. For me bnb was smaller than eth although you are right that there are many projects created under this chain. They act as an alternative when eth experienced a problem in its fees. After that, many solutions have also came up. There are many alternatives like matic, sol, avax and many more.

It's possible for eth to go down on its own. Eth move from pos because their devs think it will make eth even better, not mostly in price but people expect more that its price rise after this. Keep in mind guys that we are still in a bear.

[Silberman]

Until bitcoin decides on the price movement and trend direction, ETH will definitely hang around in a sideways trend as well. Now the whole market has sharply decreased activity and trading activity as well. No matter what the trading indicators show, if bitcoin will stagnate, ETH will follow it too. It would be too naive to expect that a single coin, in contradiction to the whole market, will start some growth. If a further dump happens, the main thing is for ETH to be able to keep the $1,000 price.

If the merge hype was not enough to make ethereum enter some kind of altcoin season then it is too naive for people to think it can still present massive growth when the hype is gone, I do not understand why it is so hard for people to simply admit they were wrong in their predictions, I was also one of those which thought ethereum could do well after the merge, it did not happen and I simply admitted my mistake and moved on.

[Chato1977]

The article is good but is this truly going to happen?  ethereum is still struggle to stay at 13 hundred dollar meaning the fundamentals are still hard to relate in our current situation , it is not that I don't trust Etheruem but not at least this very year?

hoping for an increase at least before the year ends to have a good celebration of the season ends.

I think we should all agree that now altcoin market is not only affected by Bitcoin but also Ethereum and sometimes even BNB, because they have mant projects working on their native blockchains. Although I don't see huge reason Ethereum going down totally independent from Bitcoin. It went pos which I believe was wrong didn't even affected price that much. Its staying strong as much as Bitcoin is. For months.

with so much happening now? bitcoin is still the dominant one but Ethereum on the other hand made its way far more from Bitcoin breaking 17% above just in a day.

[monineklutak]

Until bitcoin decides on the price movement and trend direction, ETH will definitely hang around in a sideways trend as well. Now the whole market has sharply decreased activity and trading activity as well. No matter what the trading indicators show, if bitcoin will stagnate, ETH will follow it too. It would be too naive to expect that a single coin, in contradiction to the whole market, will start some growth. If a further dump happens, the main thing is for ETH to be able to keep the $1,000 price.

If the merge hype was not enough to make ethereum enter some kind of altcoin season then it is too naive for people to think it can still present massive growth when the hype is gone, I do not understand why it is so hard for people to simply admit they were wrong in their predictions, I was also one of those which thought ethereum could do well after the merge, it did not happen and I simply admitted my mistake and moved on.

Those who do not admit fault may only be concerned with their ego,
sometimes not everything goes according to our expectations or predictions and the most obvious example is this Ethereum merger,
but regardless I never doubted Ethereum