2 years ago
In this occurrence of NewsBTC’s daily method investigation videos, we analyse the terms enactment successful Ethereum pursuing the Merge upgrade successful some the ETHUSD and ETHBTC trading pairs.
Take a look astatine the video below:
VIDEO: Ethereum Price Analysis (ETHUSD): September 15, 2022Overnight past night, the Ethereum Merge upgrade occurred. As galore expected, it turned retired to beryllium a sell-the-news lawsuit for the second-ranked cryptocurrency and has fallen by much than 10% intraday connected the USD pair.
ETHUSD Pair Turns Bearish Post-MergeOn regular timeframes, things proceed to look atrocious for Ethereum and different apical crypto assets. The banal marketplace is besides successful danger, adding accent to the full situation.
ETHUSD connected regular timeframes could beryllium forming a caput and shoulders top, conscionable arsenic LMACD crosses bearish. More downside could beryllium indispensable wherever the Relative Strength Index would hopefully find enactment astatine a little inclination line.
Ethereum sold disconnected sharply aft The Merge update was completed | Source: ETHUSD connected TradingView.com The Remaining Bullish Signal On Ethereum Weekly ChartsTurning connected the Ichimoku gives Ether bulls astatine slightest immoderate anticipation of hanging onto caller gains. Finding enactment successful the Ichimoku unreality could pb to renewed vigor and a retest of highs. The Ichomuku connected Ethereum play charts besides is trying to find enactment supra the Tenkan-sen. Slightly supra the Tenkan-sen is an adjacent much important enactment to hold: the mediate Bollinger Band.
Finding enactment supra the mediate Bollinger Band has successful the past led to immoderate of the altcoin’s strongest bull trends.
ETHUSD attempts to clasp supra the mediate Bollinger Bands connected play timeframes | Source: ETHUSD connected TradingView.comRelated Reading: WATCH: Bitcoin Brutalized After August CPI Data Release | BTCUSD September 13, 2022
Ether Takes Beating On ETHBTC RatioThe downside successful Ethereum could beryllium owed to ongoing bearish macro conditions and spot successful the dollar, but Ether adjacent took a dive connected the BTC trading pair.
Although the ETHUSD brace is hoping to find enactment astatine the bottommost of the Ichimoku cloud, the BTC brace is trying to found enactment supra the unreality some connected regular and play timeframes. On the weekly, the bottommost of the unreality was already tested and held, which is simply a bullish sign. However, the downtrend absorption enactment appears to person struck again and sent Ether tumbling against Bitcoin.
Despite the bearish signals connected the ETHBTC pair, the video’s decision provides a longer-term bullish outlook you person to spot for the afloat picture.
Was downtrend absorption capable to halt Ethereum erstwhile again? | Source: ETHBTC connected TradingView.comLearn crypto method investigation yourself with the NewsBTC Trading Course. Click here to entree the escaped acquisition program.
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Featured representation from iStockPhoto, Charts from TradingView.com
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