{"id":523897,"date":"2023-03-21T05:28:54","date_gmt":"2023-03-21T05:28:54","guid":{"rendered":"https:\/\/uniquehot.com\/?p=523897"},"modified":"2023-03-24T07:26:10","modified_gmt":"2023-03-24T07:26:10","slug":"ethereum-eth-bulls-brace-for-quick-drop-as-charts-predict-10-downswing","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum-eth-bulls-brace-for-quick-drop-as-charts-predict-10-downswing\/","title":{"rendered":"Ethereum (ETH) Bulls Brace For Quick Drop As Charts Predict 10% Downswing"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Ethereum (ETH) price has shown signs of a potential downturn as it reached an exhaustion of bullish momentum, signaling a <a href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/here-is-what-needs-to-happen-for-ethereum-price-to-rally-20-202303201135\" target=\"_blank\" rel=\"noopener nofollow\">possible drop<\/a> in the near future. According to analysts, ETH has produced a clear sell signal, indicating a shift in the cryptocurrency&#8217;s trend.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The world&#8217;s second-largest cryptocurrency by market capitalization has been on a bullish run for the past few weeks, with its price surging by more than 34% in just a matter of days, according <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/ethereum\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">CoinMarketCap data<\/span><\/a><span style=\"font-weight: 400\">. <\/span><\/p>\n<p><span style=\"font-weight: 400\">The digital asset has been benefiting from a strong market sentiment, as well as the growing interest in decentralized finance (DeFi) and non-fungible tokens (NFTs).\u00a0<\/span><span style=\"font-weight: 400\">However, experts are suggesting that this could be an opportunity for long-term investors to accumulate and take advantage of the potential dip.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/ethereum-unsettling-investors\/\" target=\"_blank\" rel=\"noopener \">Ethereum Unsettling Investors As Downward Price Potential Grows<\/a><\/div>\n<h2><strong>Ethereum Price To Face Immediate Resistance<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Like Bitcoin, Ethereum has been experiencing a bullish trend and traded above $1,800 earlier today, although it has since fallen to $1,759 at the time of writing. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Other cryptocurrencies such as Litecoin (LTC), Dogecoin (DOGE), Solana (SOL), and Ripple (XRP) have also seen significant gains.<\/span><\/p>\n<p><span style=\"font-weight: 400\">ETH\/USD pair is positively biased, its upward momentum is not as strong as Bitcoin&#8217;s. Ethereum is currently struggling to break through the $1,800 level and may face resistance at $1,900 if it does.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Despite Ethereum&#8217;s price reaching higher highs since March 14, its relative strength index (RSI) and Awesome Oscillator have produced lower highs, indicating a divergence. Divergence can lead to declining momentum and a potential reversal in price.<\/span><\/p>\n<p><span style=\"font-weight: 400\">In the context of cryptocurrency prices, divergence refers to a situation where the price of a particular cryptocurrency moves in a different direction than that of a related asset or benchmark.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/pV08c3ub\/\" width=\"2047\" height=\"979\"><\/p>\n<pre style=\"text-align: center\">ETH total market cap now at $214 billion on the daily chart at <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<p><span style=\"font-weight: 400\">For example, if the price of Bitcoin is rising, but the price of <a href=\"https:\/\/u.today\/btc-eth-and-xrp-price-analysis-for-march-20-0\" target=\"_blank\" rel=\"noopener nofollow\">Ethereum<\/a> is falling, this could be considered a divergence between the two cryptocurrencies. <\/span><\/p>\n<p><span style=\"font-weight: 400\">This phenomenon can occur due to a variety of factors, such as differences in market sentiment, news events, or technical factors affecting each cryptocurrency. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Traders and investors may use divergence as a signal to adjust their trading strategies, as it can indicate a shift in market dynamics or potential opportunities for profit.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/bitcoin-price-barrels-past-28k\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Price Barrels Past $28,000 \u2013 Can BTC Keep Pushing This Week?<\/a><\/div>\n<h2><strong>Bullish Thesis At Stake<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Although Ethereum&#8217;s price has been on an upward trend, it is possible that it may experience a 10% drop and fall to either the psychological level of $1,600 or the monthly level of $1,677.\u00a0<\/span><span style=\"font-weight: 400\">This potential drop should be approached with caution, as it could signal a shift in market sentiment. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Specifically, if the price drops below the $1,600 level and continues to experience selling pressure, it could lead to the $1,422 level becoming a resistance level and invalidate the optimistic outlook for Ethereum.<\/span><\/p>\n<p><em>-Featured image from EthereumPrice<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum (ETH) price has shown signs of a potential downturn as it reached an exhaustion of bullish momentum, signaling a possible drop in the near future. According to analysts, ETH has produced a clear sell signal, indicating a shift in the cryptocurrency&#8217;s trend.\u00a0 The world&#8217;s second-largest cryptocurrency by market capitalization has been on a bullish run for the past few weeks, with its price surging by more than 34% in just a matter of days, according CoinMarketCap data. The digital asset has been benefiting from a strong market sentiment, as well as the growing interest in decentralized finance (DeFi) and non-fungible tokens (NFTs).\u00a0However, experts are suggesting that this could be an opportunity for long-term investors to accumulate and take advantage of the potential dip. Related Reading: Ethereum Unsettling Investors As Downward Price Potential Grows Ethereum Price To Face Immediate Resistance Like Bitcoin, Ethereum has been experiencing a bullish trend and traded above $1,800 earlier today, although it has since fallen to $1,759 at the time of writing. Other cryptocurrencies such as Litecoin (LTC), Dogecoin (DOGE), Solana (SOL), and Ripple (XRP) have also seen significant gains. ETH\/USD pair is positively biased, its upward momentum is not as strong as Bitcoin&#8217;s. Ethereum is currently struggling to break through the $1,800 level and may face resistance at $1,900 if it does. Despite Ethereum&#8217;s price reaching higher highs since March 14, its relative strength index (RSI) and Awesome Oscillator have produced lower highs, indicating a divergence. Divergence can lead to declining momentum and a potential reversal in price. In the context of cryptocurrency prices, divergence refers to a situation where the price of a particular cryptocurrency moves in a different direction than that of a related asset or benchmark. ETH total market cap now at $214 billion on the daily chart at TradingView.com For example, if the price of Bitcoin is rising, but the price of Ethereum is falling, this could be considered a divergence between the two cryptocurrencies. This phenomenon can occur due to a variety of factors, such as differences in market sentiment, news events, or technical factors affecting each cryptocurrency. Traders and investors may use divergence as a signal to adjust their trading strategies, as it can indicate a shift in market dynamics or potential opportunities for profit. Related Reading: Bitcoin Price Barrels Past $28,000 \u2013 Can BTC Keep Pushing This Week? Bullish Thesis At Stake Although Ethereum&#8217;s price has been on an upward trend, it is possible that it may experience a 10% drop and fall to either the psychological level of $1,600 or the monthly level of $1,677.\u00a0This potential drop should be approached with caution, as it could signal a shift in market sentiment. Specifically, if the price drops below the $1,600 level and continues to experience selling pressure, it could lead to the $1,422 level becoming a resistance level and invalidate the optimistic outlook for Ethereum. -Featured image from EthereumPrice<\/p>\n","protected":false},"author":557,"featured_media":523907,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[6664,8323,1946],"class_list":["post-523897","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-eth","tag-ethereum"],"acf":[],"yoast_head":"\n<title>Ethereum Bulls Brace For Quick Drop As Charts See Downswing<\/title>\n<meta name=\"description\" content=\"Ethereum (ETH) price has shown signs of a potential downturn as it reached an exhaustion of bullish momentum, signaling a possible drop in the 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum (ETH) Bulls Brace For Quick Drop As Charts Predict 10% Downswing","url":"http:\/\/uniquehot.com\/news\/ethereum-eth-bulls-brace-for-quick-drop-as-charts-predict-10-downswing\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ethereum-eth-bulls-brace-for-quick-drop-as-charts-predict-10-downswing\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/03\/a-36.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/03\/a-36.png?fit=935%2C593"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["crypto","eth","ethereum"],"dateCreated":"2023-03-21T05:28:54Z","datePublished":"2023-03-21T05:28:54Z","dateModified":"2023-03-24T07:26:10Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum (ETH) Bulls Brace For Quick Drop As Charts Predict 10% Downswing\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum-eth-bulls-brace-for-quick-drop-as-charts-predict-10-downswing\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum-eth-bulls-brace-for-quick-drop-as-charts-predict-10-downswing\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/a-36.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/a-36.png?fit=935%2C593\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"crypto\",\"eth\",\"ethereum\"],\"dateCreated\":\"2023-03-21T05:28:54Z\",\"datePublished\":\"2023-03-21T05:28:54Z\",\"dateModified\":\"2023-03-24T07:26:10Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/03\/a-36.png?fit=935%2C593","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/523897","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=523897"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/523897\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/523907"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=523897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=523897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=523897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}