Ethereum

Bitcoin, Technical Analysis: Bitcoin Prices Continue to Consolidate, Price Moves Slightly Above $30,000

Bitcoin moved away from Tuesday’s lows during the hump-day session, as prices were once again above $30,000. Over the past few weeks, prices have hovered between this and $. There has been no significant price movement in that period. ETH was also marginally higher.

Bitcoin

The volatility in crypto markets was once again present during Wednesday’s session, as BTC moved marginally higher.

Over the last few weeks, bitcoin has continued to hover above and below the $30,000 mark, with prices once again making this move today.

Following a low of $29,445. 88 on Tuesday, BTC/USD spiked to an intraday high of $31,489. 68 earlier in today’s session.

Bitcoin, Ethereum Technical Analysis: BTC Continues to Consolidate, Prices Move Slightly Above $30,000 — BTC/USD – Daily Chart

This move comes as bulls once again attempted to breach the $31,500 resistance point, however as on Monday, to no avail.

As of writing, the world’s largest cryptocurrency is now trading at $30,218. 01, which is still 2.5% higher than yesterday’s bottom.

However, with bulls likely closing out earlier positions, today’s gains have gradually eased, with the likelihood of prices dropping below $30,000 still on the cards.

Ethereum

ETH, which has also been hovering below a key price point of its own, today rose beyond that level.

The world’s second-largest crypto token fell to an intraday low of $1,729. 41 on Tuesday, however hump-day has seen prices peak at $1,862.91.

This surge, which sent ethereum back above $1,800, was nearly 4% higher than yesterday’s low, however it was not enough to keep bearish sentiment away.

As of writing, and as the day progressed, ETH has fallen below $1,800 once again, as bulls likely secured earlier gains.

Overall, ETH is currently trading at $1,792. 54, with a renewed level of bearish sentiment looking to push prices towards support at $1,750.

Will we see BTC/ETH continue to consolidate this week? Comment below to share your thoughts.

Eliman Dambell

Eliman has a unique perspective on market analysis, having been a broker director, retail trading educator, and market commentator for Crypto, Stocks, and FX.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage caused or alleged caused by the use or reliance of any content, goods, or services mentioned in this article.

Ethereum

Ethereum Traders Just Flipped Bullish, But History Says This Is a Major Red Flag

Ethereum’s bounce toward $3,500 triggered instant FOMO, but Santiment says extreme optimism usually means price is about to disappoint.

Ethereum traders have swung sharply from extreme bearishness to extreme bullishness within just a few days, based on social media sentiment.

But fresh data suggest that when ETH nearly rebounded to $3,500 on Thursday, the crowd interpreted the move as a confirmation that the asset was “back in business.”

ETH Trader FOMO

Santiment warned that this sudden pivot is similar to the same pattern seen earlier in the week, when retail panic selling actually contributed to the rebound. Now, the rapid return of FOMO could similarly stall further upside.

According to the analytics platform, prices have shown a tendency to move in the opposite direction of the crowd, and that more neutral sentiment phases have proven to be stronger buy signal environments than euphoric ones.

Crypto trader Ted Pillows also noted that even though the altcoin is showing some rebound after this week’s sharp decline, the recovery lacks conviction. According to Pillows, the current move higher, though modest, is being driven largely by short positions being closed rather than new spot buyers stepping in. He added that Ethereum needs to reclaim the $3,600-$3,700 price range with meaningful inflows to establish strength and dismiss the risk of further downside. Without that confirmation, Pillows believes the odds still favor lower prices from here.

Despite the near-term uncertainty, some traders say the bigger picture is still pointing toward a substantial upside scenario. For instance, crypto trader “Trader Tradigrade” said that ETH’s monthly chart is currently developing what he describes as a massive Inverse Head and Shoulders pattern, with a potential price target of $14,000 once confirmed.

“Wet Blanket” Phase

As the crypto market remains sluggish, Galaxy CEO Mike Novogratz believes that this could be due to long-term holders rebalancing their net worths and diversifying away from massive concentrated holdings after a very long bull market. Novogratz deems this to be a healthy sign in the medium and long term as these positions get distributed. In the short run, however, he said that “it’s a proverbial wet blanket” and has weighed on prices.

About the author

Chayanika has been working as a financial journalist for six years. A graduate in Political Science and Journalism, her interest lies in regulatory implications with a focus on technological evolution in the crypto realm.

Ethereum

Ethereum Price Analysis: Will $3K Hold as ETH’s Bearish Momentum Intensifies?

Ethereum has slipped below the $3,300 mark, indicating persistent selling pressure in this zone. While bears aren’t showing strong momentum just yet, the fact that the price declined following a major liquidation event, one that already cleared out many over-leveraged longs, raises the risk of further downside. This hints that spot sellers could now be in control, opening the door for a deeper short-term correction.

Technical Analysis

By Shayan

The Daily Chart

On the daily chart, ETH dropped below the channel and has fallen slightly beneath the 200-day moving average. It is currently breaking below the $3,300 demand zone too. This is a key level Ethereum is now losing, as the 200-day moving average is known as one of the most critical indicators for determining whether the overall market phase is bullish or bearish.

The RSI also remains weak at 32, showing the market is not bound for recovery yet. For buyers to regain control, ETH needs to break back above $3,500 and flip that region and the 200-day moving average into support. Until then, the price is sitting in a vulnerable zone, which could push the price lower toward the $3,000 support level in the coming days.

The 4-Hour Chart

The 4-hour chart shows a quick rejection from the lower boundary of the broken channel and the previous support zone, around $3,400. The price is currently hovering around the level and has yet to form a convincing rebound or create a higher low.

The RSI is also stabilizing below the 50% level, as the momentum is clearly bearish. With ETH breaking the $3,300 to the downside once more, the next sweep toward the $3,000 zone and lower could come fast.

Sentiment Analysis

Long Liquidations

Sentiment-wise, liquidations wiped out a large portion of late long entries, creating a cleaner slate for the price to stabilize. The chart shows a major liquidation spike right before the small bounce, confirming the shakeout.

With many positions flushed and the RSI nearing oversold regions across multiple timeframes, the market might soon be due for a reset. Yet, traders are likely to stay cautious, waiting for clearer strength and a break back above $3,500 before reloading on longs.

On the other hand, a drop toward the $3,000 level could ignite another liquidation cascade and lead to an even more significant liquidation event, which could result in another flash crash in the upcoming weeks.

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Cryptocurrency charts by TradingView.

Ethereum

Argentine Exchange Ripio Launches Digital Peso as Part of Latam’s Stablecoin Rollout

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