Ethereum lost roughly 13.50% versus Bitcoin’s 9% decline in the past 24 hours.
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Ethereum lost roughly 13.50% versus Bitcoin’s 9% decline in the past 24 hours.
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Ethereum risks dropping to $3,200 as its latest ETH price decline triggers a classic bearish setup.
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The second-largest cryptocurrency posts dwarfed losses compared to Bitcoin’s 21% price decline Saturday.
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Ethereum price hit a new all-time high in its ETH/BTC pair and a classic technical analysis pattern suggests the altcoin has a lot more upside.
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The bullish outlook appears as the ETH price decline stalls near its old Cup and Handle resistance level, now acting as support and thus raising the potential of a strong rebound ahead.
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The potential price decline would also mark Ethereum’s return to its Ascending Channel support.
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A confluence of at least three different bearish indicators appears on Ethereum’s multi-timeframe charts, suggesting that its ongoing bull run risks exhaustion.
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The eerie deja vu scenario can see Ethereum hit $13,000 within six months if history repeats.
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Ethereum prices recovered on Sunday amid a market-wide upside correction while receiving an additional upside boost from a bullish JPMorgan & Chase report.
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The success rate for cup-and-handle patterns in forex and stock markets, on daily timeframes, are 65% and 68%, respectively, per a Harvard study.
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