BTC and ETH Trading Journey

[bettercrypto]

The value of Ethereum increased against the dollar and stable currencies, but not against Bitcoin and Solana, as Solana took a lot of Ethereum’s market share, and with the presence of competitors in the second tier such as MATIC and POS alternatives, I do not think that the value of Ethereum will increase in the future, or at least against the value of Bitcoin and Solana.
The only thing that might push the price higher is the acceptance of an ETF, but that may not happen soon.

Many people expect the ETH spot to be approved immediately. It seems that recently someone said that the chances that the Etf spot will be approved in Ethereum are 70% immediately.

But just last week, it seems that the wind suddenly changed because the grayscale support there also suddenly changed, according to the articles I read.

Crypto asset manager Grayscale Investments' proposal for an exchange-traded fund tied to ether futures was withdrawn last week,
according to a Tuesday notice from the U.S. Securities and Exchange Commission.

source: https://www.cnbc.com/2024/05/08/grayscales-application-for-ethereum-futures-etf-withdrawn-.html

But of course if ever Ethereum will not pass on etf spot it doesn't mean the price will not going to go up, it is still unpredictable and we don't know what's gonna be the next move on this situation anyway, right?

[PHUONGCRYPTO]

https://s3.tradingview.com/snapshots/s/SWwSDxf8.png

This is important signal for a new altcoin season. Plus, positive for both btc and all alt-coins bros.

[slaman29]

But of course if ever Ethereum will not pass on etf spot it doesn't mean the price will not going to go up, it is still unpredictable and we don't know what's gonna be the next move on this situation anyway, right?

Always said ETF is sort of meaningless to me. You want ETH you just go buy it. It might actually make sense for Bitcoin with limited supply and less and less new coins coming out but ETH staking while has a theoretical cap essentially means there's always ETH if you need some.

But tokenomics aside, the proof is in ATH. Bitcoin hit a new one. I can't think of any other alt which was around since 2017 that hit a new ATH. To me that says a lot.

[tvplus006]

#ETH had a strong price increase in Q1 2024, prices have now completed a correction and are ready to return to gain higher. The new opportunity at the current price..

It is too early to say that the correction has ended and this is clearly visible on the ETHUSDT chart. And the fact that the ETH price is currently trading below the trend line indicates that we may still see a deeper correction. But you are right that ETH has a very good potential to reach ATH.

[hugeblack]

Although Solana is getting a lot of hype in the current market Ethereum is still the leader in altcoins.

The problem is not only that, but even after Bitcoin gains sufficient momentum, a correction occurs in the price, and since the price of Solana differed greatly from most altcoins and increased by a large percentage compared to Bitcoin, it will have a unique correction that is different from the rest of the altcoins, so investing now is not a wise policy unless you believe that The current price is unfair and Solana is being sold for less than its value.

[Sebas.tian]

I think, Ethereum was among the altcoins that helped traders to achieved a huge amount of income early this year before the price of Ethereum begin to reducing to this current price, which many traders are using to purchase Ethereum and hold for another bullish season that is about to happen before the end of this year.  I don't think the journey of Ethereum was bad, because the price increased to $4000 to break into a new ATH which there are some altcoins never increase higher this season, but there is a hope those altcoins will increase along side with Ethereum in the next bullish season.  Bitcoin really perform well in this season to allowed traders to achieved massive income from their trading, because it was a great opportunity for Bitcoin traders not to miss the new ATH in the market which is the target of many traders to earn income.

[johnsaributua]

Although Solana is getting a lot of hype in the current market Ethereum is still the leader in altcoins.

The problem is not only that, but even after Bitcoin gains sufficient momentum, a correction occurs in the price, and since the price of Solana differed greatly from most altcoins and increased by a large percentage compared to Bitcoin, it will have a unique correction that is different from the rest of the altcoins, so investing now is not a wise policy unless you believe that The current price is unfair and Solana is being sold for less than its value.

I agree sir, even ethreum was reduced in price from the impact of the correction of around 400$ / ethreum even though it is still around the halving season this month, indeed the price of ethreum is not half that of bitcoin, but I think it is cheap because ethreum recovery is quite fast. In contrast to solana which in my opinion is more stable and in my opinion also prefers ethreum. To add to the portfolio Indeed solana is suitable after prioritising ethereum, the dependence of the usual bitcoin rely on altcoin rallies cannot let what happens, including when dumb or large pumps they participate. Although solana has experienced a prolonged bearish but the existence of solana can also be considered so far because my daily life also sometimes requires.

[FanEagle]

ETH being considered in trouble because of the competition that it has, is a great thing for the crypto world, because while ETH itself is still going up, other things are going up as well, which makes it even better. I am not saying that we are going to see ETH going down, I think that will continue to go up, we just going ot have a situation where everything else goes up as well.

The wealth will be shared basically and that would be the most important part of it all. That doesn't mean that we are going to see something out of that, it should be noted that we are going to see crypto in general get a benefit from this ETF situation as well, it would benefit not just ETH but also the whole crypto world in the end.

[MRY]

ETH being considered in trouble because of the competition that it has, is a great thing for the crypto world, because while ETH itself is still going up, other things are going up as well, which makes it even better. I am not saying that we are going to see ETH going down, I think that will continue to go up, we just going ot have a situation where everything else goes up as well.

The wealth will be shared basically and that would be the most important part of it all. That doesn't mean that we are going to see something out of that, it should be noted that we are going to see crypto in general get a benefit from this ETF situation as well, it would benefit not just ETH but also the whole crypto world in the end.

Ethereum has many competitors who are trying to beat the Ethereum network by creating new networks that have cheaper transaction fees, very high transaction speeds and also quite good security. BNB and Solana pose a very serious threat to the future of Ethereum.

[PHUONGCRYPTO]

@BTC now completed a correction and are ready to return to gain higher.
🟢 Trend: Bullish 🚀
🟢 Support: 60.000
🟢 Target: 100.000

// Fundamental news support the Uptrend //
_______________________

- A weaker dollar and lower Treasury yields, after latest US CPI data indicated a slowdown, strengthening expectations of an interest rate cut by the Federal Reserve.
- Investors are now pricing in around a 75% chance of a Fed rate reduction in September and 85% for November.
- Lower interest rates boost the Stock, Crypto, Gold market

#BTC

https://s3.tradingview.com/snapshots/i/ie3KQVq8.png

[Maus0728]

ETH being considered in trouble because of the competition that it has, is a great thing for the crypto world, because while ETH itself is still going up, other things are going up as well, which makes it even better. I am not saying that we are going to see ETH going down, I think that will continue to go up, we just going ot have a situation where everything else goes up as well.

Yet some people don't see it that way especially the ETH fanboys out there that still believes ETH will replace bitcoin. I definitely that it's a good thing because with the way that bitcoin is going which is to the moon and beyond, the variety of potential crypto to invest from is just one way to make sure that the power isn't consolidated or anything like that, plus we can always have the narrative of cryptocurrency making random people into millionaires if not wealthy with more cryptocurrency that's got a potential that keeps on pumping out .

[senyorito123]

#ETH had a strong price increase in Q1 2024, prices have now completed a correction and are ready to return to gain higher. The new opportunity at the current price
🟢This is a sign calling for a continous upside to pass $5.000
Current $ETH: 2980 🚀

I'm waiting for that to settle at 5k, meanwhile my asset still remain same quantity as expenses became so tight right now. No other options could help me but use my existing eth holdings, just to convert it to fiat. With a strong dedication and self control, I was able to do budgeting on my tradings. Once I dump everything, possibly I will be drained without an alternative funds.

[PHUONGCRYPTO]

https://s3.tradingview.com/snapshots/y/Yf3eR1Hu.png

[PHUONGCRYPTO]

https://s3.tradingview.com/snapshots/i/iBsRzqnF.png

Bull in progressing ....
Waiting for something boost.

[PHUONGCRYPTO]

https://s3.tradingview.com/snapshots/b/BPY3dtsu.png

[PHUONGCRYPTO]

Good! ETH Spot is approved.

[PHUONGCRYPTO]

🥇 BullRun will likely be completed in Q4 2024 - Q1 2025.
History of previous seasons, after breaking the previous record peak, the time continued to extend:
-------------------------
2013 : 8 months
2017 : 8 months
2020 : 5 months
2024 : 5-8 months
-------------------------
In 5-8 months from now, the new record peak could be in Q4 24 - Q1 25.
The next 5-8 months will be the period taking profit 🚀

[PHUONGCRYPTO]

https://s3.tradingview.com/snapshots/s/S1VkReii.png

Ethereum Technical Analysis: Building Bullish Momentum Amid Resistance Challenges

Overview:

Ethereum's recent price movements showcase a growing bullish momentum within a well-established upward channel. The breakout above the 4,100 USD resistance level marks a pivotal moment, indicating a possible continuation of the upward trend. However, traders should remain cautious as the price approaches a critical resistance zone.

Key Observations:

Upward Channel: Ethereum's price has consistently followed an upward channel, highlighting a robust bullish trend.
Breakout: The recent rise above 4,100 USD confirms a breakout from previous resistance, strengthening the bullish outlook.
Resistance Zone: The 4,400 USD area is anticipated to be a significant resistance level. A successful break above this zone could lead to further upward movement.
Support Level: The 2,134 USD level has provided strong support, and any pullback to this level might offer a buying opportunity.
Outlook:

Ethereum's technical landscape remains bullish. The breakout, coupled with the established upward channel, suggests that the uptrend may continue. However, traders should be cautious as the price nears the 4,400 USD resistance zone. Failure to break above this level could result in a pullback towards the 2,134 USD support.

Potential Scenarios:

Bullish Scenario: A break above 4,400 USD could pave the way for a move toward the next resistance at 5,200 USD.
Bearish Scenario: Failure to break above 4,400 USD might trigger a pullback toward the 2,134 USD support. A drop below this support would challenge the bullish outlook.
Recommendations:

Traders: Consider buying on pullbacks toward the 2,134 USD support with a stop-loss below this level. Target the 4,400 USD resistance zone, and potentially higher levels if a breakout occurs.
Investors: Hold existing long positions and consider adding on pullbacks toward the 2,134 USD support level.