Why is the Crypto Market Crashing? BTC, ETH, XRP, SOL, ADA Analysis
In this article, we will be looking keenly into the crypto market crash to determine why the tokens are crashing.
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In this article, we will be looking keenly into the crypto market crash to determine why the tokens are crashing.
In our last Ethereum price prediction, we wrote that the price could soon rise sharply. As a result, the price has risen by over 10%, from around $2,950 to $3,480. This rise came without a correction, not even on the sub-chart. Because of this, we at CryptoTicker want to go into more detail. Should you buy Ethereum today, or wait for a potential adjustment lower? Let's tackle Ether 😉
When is a Good entry point to Buy Ethereum?As the Ethereum price did not make any major correction during the rise, we anticipate that the price will see a major correction in the near future as the indicators are overheated. We determine the target of the correction using the Fibonacci tool. This gives us the data that the upside GoldenPocket move sits around $2,870. The 0.5 Fibonacci level, which is the minimum target, is around $3,000. Based on this data, we expect a descent to at least $3,000, which is also a strong psychological price. A wick of a daily candle could touch the GoldenPocket. After this correction is complete and the price starts to rally again, the price could form an overall uptrend. This uptrend could continue until the resistance around $4,444.
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Fig.1 ETH/USD 1-day chart showing the Fibonacci retracement of ETH - TradingView Will Ethereum reach 5K in 2022?Previously, Ether managed to reach a high of around $4,700. That was very close to the psychological and highly anticipated price of $5,000. However, prices sank with the entire cryptocurrency market for many reasons. Now that prices are picking up, reaching that previous all-time high price and even reaching 5K should be in sight. That's why knowing where to position yourself is very crucial for now.
Apart from the GoldenPocket, Ethereum price has formed a resistance zone between $2,950 and $3,050. This resistance zone caused steadily falling prices. Because of this, the price was also in a sideways phase. Now that we have broken this resistance, we could imagine that Ethereum price will confirm this former resistance as support. Based on that, we would invest in Ethereum at around $3,000. Firstly there is the 0.5 Fibonacci level, the new support zone and the psychological level of $3,000.
Fig.2 ETH/USD 1-day chart showing the important level of 3K - TradingViewOnce prices hit that level, many traders will place orders. This will most likely drive prices up thanks to this huge buying power, driving prices upwards. If prices are eyeing their previous ATH, reaching 5K should be inevitable. After all, even a report on Bloomberg predicted an Ethereum price of 6K.
Ether© Cryptoticker
Ethereum was on the verge of the $3,000 dollar price area and was bound to break higher. However, prices retraced back towards the strong support area which is delimited between $2,000-2,400. Today, prices are up in the past 7 days by more than 15% and are looking bullish. Will Ethereum price finally break $3,000 for good and continue higher? In this Ethereum price prediction, we analyze Ethereum from a technical perspective and look at the important price areas.
Will Ethereum price reach $4,000?The Ethereum price has formed a symmetrical triangle in the past few weeks. This triangle is not yet in the last third, which is why a current breakout is rather unlikely, even if the Ethereum price is currently at the top of the triangle, we do not expect any breakout for the time being. Instead, we assume that the Ethereum price will initially correct somewhat. The correction could last until the lower trendline of the triangle. In the best case, the price will only correct the last upward movement in order to break out afterwards. If the Ethereum price breaks out in a bullish way, the price could rise to around $4,000. That's where the goal of the formation is.
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Fig.1 ETH/USD 1-day chart showing Ethereum's potential target - TradingView Can Ethereum BOOM to $5,000 soon?If we look at the volume of the Ethereum price, we can see that some sell orders have been triggered. So some people have already bought Ethereum, which is probably why there are fewer sellers now. As such, there may now be less selling pressure on the upside, hence the possibility that the price may see a bullish breakout anytime soon, in the near future.
Reaching a price of $5,000 would happen if prices first manage to break the $4,000 price mark. Additionally, prices should consolidate above that are a while. If this happens, reaching an Ethereum price of $5,000 should be very likely.
Fig.2 ETH/USD 1-day chart showing Ethereum's traded volume - TradingViewEthereum © Cryptoticker
The crypto sector has continued to gain prominence in the financial market after gaining mainstream attention. This is in no small way, thanks to the activities of the tokens inside the sector. Being the token with the highest value, Bitcoin has continued to lead other tokens since its creation in 2009. Although there has been a barrage of tokens that have entered the market after then, none of these tokens has been able to reach Bitcoin's height. However, one coin that has established its place as the second token in the sector is Ethereum. Ethereum has been able to attract a lot of users with its network undergoing massive growth in the industry. In this article, we will be looking into Ethereum with a guide to purchasing the token on Binance.
What is Ethereum?Ethereum is a blockchain whose design was made to be open-sourced. Traders use its native currency, Ether, to carry out transactions on the blockchain. Also, the name, Ethereum, doubles as that of its native currency and that of its platform. To simplify this, Ethereum (Ether) is the digital asset that traders invest in to make profits, while Ethereum is the blockchain on which it is carried out. The platform came into existence in 2015 after Vitalik Buterin created it. It is accessible for the public and acts as a ledger that stores public information. Asides from that, Ethereum allows developers to build their apps on its blockchain. Presently, Ethereum has become one of the biggest blockchains for the decentralized finance market in the crypto sector. The native token has been able to cement its place in the second position right behind Bitcoin in terms of market capitalization.
Ethereum Price Movements - Q1 2022Ethereum has grown a lot in popularity since it burst into the crypto market in 2018. Last year, the digital asset saw a massive climb to establish different all-time highs. The highlight of its movement was creating its present all-time high of $4,800 In November 2021. Over the months, the price of the token moved across $1,000 and upward before settling at the all time high. Even though it is not presently trading at the all-time high, it is well placed above $2,500 at the time of writing.
Fig. 1. ETH/USD Chart on TradingViewPresently, Ethereum is trading at $2,612, with a loss of 2.14% in the last 24 hours. It has a market cap of $314,786,410,097 and a trading volume of $7,786,327,611 in the last 24 hours. Like other assets in the financial market, Ethereum is subject to massive market movements. The volatility in the sector has seen assets lose as high as 50% while gaining that too in a short time. However, Ethereum has only been able to gather its value based on the usefulness of its token and its network. It is also not tied to any external currency, and price moves are based on different factors.
How To Purchase Ethereum On BinanceEthereum has a track record for bringing in profits in the crypto market. This is judged by its massive price rise over last year. Although it has not gone back to the highs of previous years, it is still doing considerably well. This is a major reason why it is one of the most sought-after tokens in the crypto sector. Ethereum is a very popular asset in the market. This is not hidden, judging by its #2 position according to the market cap on many coin aggregator websites. With this, traders can get this token on various crypto exchanges across the market.
Fig. 3.0 Binance Start PageTraders can get Ethereum on exchanges such as Coinbase, FTX, Kraken, and Bitfinex. For the sake of this guide, we will be purchasing Ethereum on Binance. Binance is one of the oldest crypto exchanges in the crypto market. The crypto exchange was founded in 2017 by Changpeng Zhao. Binance offers more than 1,000 different coin pairings. Asides from its centralized exchange, it operates a decentralized finance platform called Binance Smart Chain. Below are guidelines on acquiring Ethereum on Binance for trading:
Register Your Account Fig. 3.1 Register Your AccountThis step requires deep attention to detail as it is the first in the next few steps. In this step, you will need to enter all your personal information. Before then, you will need to confirm the location where you are accessing the website from. This is to enable the platform to provide you with tailored services to your taste and region. You will then need to fill in your first name, last name, address, phone number, and password. Remember that you must cross-check all the letters and numbers you type. This is to make sure that you make no mistake in this step.
Verify Your AccountIn this step, you will need to verify all the details you have provided. This means that you will need to submit a form of identification to verify your names. You will also need to submit a document that has your address to confirm the country you are located in. The last verification is the phone number and email verification. This will allow them to verify you are the owner of the email and phone number by sending 6-digit verification codes to them.
Deposit funds Fig 3.2 Deposit FundsAfter all, is done verifying your account, the next step will require you to deposit funds into your account. It is with that fund that you will purchase Ethereum. Remember that you will need to include funds used to offset transaction fees. Binance has a wide list of ways where you can deposit your account. However, some method of deposits depends on the trader's location. As a trader, you are open to using cash transfer, credit card, wire transfer, and peer-to-peer methods, among others.
Buy Your EthereumAfter depositing funds into your account and waiting for it to reflect, you can now move on to purchase your Ethereum. To purchase Ethereum on Binance, you will need to open an order stating the price at which you want to buy your Ethereum. Once the price moves into the amount, the purchase order for Ethereum will be go live. After this, you can access your Ethereum on the in-app wallet on the platform.
Store Your EthereumPurchasing your Ethereum means that you can do so many things with the digital asset. You can decide to trade it or keep it for a longer period till it increases in price. You can even choose to use it for payments. However, knowing how to safekeep one's assets is important. Although wallets on crypto exchanges like Binance provide a lot of ease for trade, they are not ideal for storing your assets. This is why you should use offline wallets like Ledger, Trevor, or KeepKey wallets. These wallets are not usually offline, so hackers cannot easily attack them, unlike some online wallets.
ConclusionAlthough Ethereum has not been doing well in the market, it is still one of the most sought-after. This is because of its track record of the massive price increase. One of the triggers for that has been its massive adoption by traders in the sector. Asides from that, Ethereum serves as the main currency for exchange on its blockchain, where many decentralized apps are abundant. Ethereum not only has a DeFi sector, but it also provides support to some NFT marketplaces. However, it is paramount to research and diversify one's portfolio when purchasing tokens.
© Cryptoticker
The crypto market recovered quite fast after last week's crypto crash. We did warn in this previous article about how cryptos might show weakness for a couple of days, but will recover soon afterwards just like what happened during the COVID-19 crash. Today, Ethereum price jumped 15% edging the psychological price of $3,000. Why is Ethereum up? Should you buy Ethereum today? Let's tackle everything in this Ethereum price prediction article.
Why are Cryptos up?A few days ago, the US and many EU countries agreed to ban Russian banks from the SWIFT system. This comes as one of the sanctions that were imposed on Russia for breaking into Ukrainian territories. What other alternatives are there to bypass those financial sanctions? Well, cryptocurrencies!
If Russia was to pay anyone without going through regulatory bodies, they can do so via cryptos easily. Iran is another sanctioned country that also used cryptocurrencies back when the US imposed sanctions when Trump was in office. Russia's economy is more than 10x times bigger than Iran's. When Russia starts turning to cryptos, it'll create a significant volume, thus definitely moving crypto markets accordingly.
Fig.1 Total Crypto market 1-day chart showing the jump on the Swift Ban news - TradingView Ethereum Price Boom 15%, what happened?Following the SWIFT ban, cryptocurrencies started to move higher. Ethereum, which lost significantly in value with the crypto crash, reached a very strong support area. In a previous article, we clearly highlighted why Ether was on the verge of an explosion from a fundamental perspective. Today, we see the "spot-on" results ;)
Fig.2 ETH/USD 1-day chart showing the important areas of ETH - TradingViewThe price action of Ethereum follows the perfect "Day Trader" approach. Ether price was simply testing 3 key areas of support:
Traders who managed to catch those areas knew where to place their buy and sell trades. When prices reached $2,600 and the SWIFT ban happened, traders directly placed orders, speculating that cryptos value will increase. In turn, Ethereum which is the second-largest crypto by market cap followed.
Where will Ethereum price reach next?Now that Ether price managed to reach $3,000 again, there are many important areas to look into. At a first glance, once might think the next areas are obvious. Not only should prices represent psychological prices, but they should also show a price action history around them. For Ethereum, those next targets are as follows:
If the crypto market continues to go higher, the above-mentioned areas would most probably be reached. That's why day traders can decide to place take-profits around those areas. The $2,800 represented a good buy price. If prices reach those areas we can say a new uptrend is coming, pushing prices to the long-awaited price of $5,000.
Where to Buy Ethereum?Ethereum is a popular blockchain and its native token Ether can be found on many exchanges. It is always a good idea to only deal with safe and secure exchanges. That's why we at CryptoTicker suggest using the following:
EU bonds Ethereum© Cryptoticker
Just like Bitcoin, Ethereum has suffered heavy losses in recent months. However, in the last few days, the price has somewhat recovered. Can Ethereum price reach higher valuations ??again and will we even see a $10,000 in the few upcoming months? Let's talk about 3 reasons that might confirm the Ethereum price up towards 10K.
1. Is the World Calming Down?The world has been in crisis mode for a long time in recent months. The pandemic flared up again this winter and a new variant was discovered. Then came the crisis in Ukraine and the war. The times when the crypto market was crisis-proof and even benefited from it are over. Cryptocurrencies and even Ethereum prices are increasingly following tech stocks.
If the crises calm down in the next few months, the crypto market could recover and reach new heights. The Ethereum price should be one of the fastest-growing prices since the adaptation of the blockchain has increased significantly in recent months despite price losses.
2. Ethereum Price is showing Bullish SignsThe Ethereum price has shown an interesting pattern in the last few weeks, which could indicate that a strong bull market is imminent in the medium term. A triangle formation appears to be forming with one angle pointing up. Such a formation suggests a coming bull run.
Fig.1 ETH/USD 1-day chart showing the potential break upwards - TradingViewThe breakout to the upside could be as large as the maximum distance between the two trend lines. We can measure from the breakout point. The Ethereum price could soon break out to over $10,000.
3. Blockchain Adoption to help Ethereum Price up2021 had 3 big hype topics: DeFi, NFTs, and the Metaverse. We are still in the early stages of these issues. The big mainstream adoption of blockchain was yet to come. This could be the case as early as the next few months. NFTs are also becoming more well-known in the mainstream and prices are constantly increasing.
At the same time, decentralized financial products seem to be growing massively on a global scale, especially in developing countries. The metaverse experienced its first hype in autumn 2021. Now it could really expand in 2022. These developments are still being overshadowed by the current crises, but could soon receive more attention again.
As the most popular smart contract platform, Ethereum is at the forefront of DeFi and NFTs in particular. The Ethereum price should grow in the next few months and could attack $10,000.
You can now Buy ETHER cheaply on the crypto exchanges Binance and Bitfinex , Coinbase and Kraken
Ethereum© Cryptoticker
The post Top 3 reasons why Ethereum Price might soon reach $10,000! appeared first on CryptoTicker.
The crypto market is in troubled waters at the moment. After Bitcoin briefly spiked to $45,000, the market appeared to be turning bullish again. But in the last few days, we have seen the prices of Bitcoin and Altcoins fall again. According to some forecasts, we might witness an Ethereum price crash towards $1,700 in the next few weeks. will this really happen? Let's analyze Ethereum in this article.
Ethereum Price Crash Broke its SupportA few days ago we saw the Bitcoin price rise to $45,000 and the Ethereum price went to almost $3,200. But these increases fizzled out. Bitcoin fell back below $40,000 and Ethereum to $2,700.
The Ethereum price was subsequently unable to maintain the support level at $2,900 and fell back to $2,700. In November, the ether price was still over $4,800. In the last 3 months, the big correction started. At its lowest point, the price was below $2,500.
Fig.1 ETH/USD 4-hours chart showing the break of the support area - TradingView Ethereum Price now at a key Resistance LevelThe Ethereum price has evolved over the past few weeks to sit at a key resistance level. According to Twitter user IncomeSharks, there is a possibility for a bullish breakout in Ethereum due to the flattening out of the past few weeks.
However, if this resistance is not broken, according to user Pentoshi, there could be heavy losses in the Ethereum price. Accordingly, we could see the price drop to a level of $1,700. This crash would also affect other altcoins.
Fig.2 ETH/USD 1-day chart showing the next support of ETH - TradingView Market Direction will be determined in the coming weeksThe current "boredom" in the market suggests that we are probably in a critical phase for the Ethereum price. A breakout of the resistance level could lead to fresh attacks to $4,000. On the other hand, a missed breakthrough could bring the altcoin market to lower lows. That's why the coming next week is crucial in what happens in the crypto market.
You can now buy Ethereum cheaply on the crypto exchanges Binance , Coinbase , Kraken and Bitfinex .
Ethereum merge© Cryptoticker
The post Ethereum Price enters a RED ZONE – will $ETH Crash to $1,700? appeared first on CryptoTicker.
Every crypto trader and investor loves seeing green colors across crypto aggregators. Ethereum price specifically soared by +8% in the past 24 hours, and managed to recoup some losses. Investors who managed to buy Ethereum at cheap prices are deep in the greens. Now that Ether prices jumped again, when will ETH reach 3K again? Let's analyze in this article Ether's price and forecast what might happen in the coming week.
Ethereum Price UP in the past 24 hoursDespite the obvious technical formation of ETH, many traders missed placing buy orders around $2,300. Prices of Ethereum did a consolidation on a strong support level for almost an entire week. This often indicates an upcoming price increase. In figure 1, we can clearly see how prices rebounded and touched the $2,800 price mark, making almost 22%.
Day traders await such setups as they can make hefty returns, especially if they pair it with adequate leverage. On the other hand, investors who simply prefer to buy and hold could've definitely placed a buy order towards that same price. This long-term setup will have bigger goals for sure, but at the same time, similar stop-loss areas just below $2,000.
Fig.1 ETH/USD 4-hours chart showing Ethereum price up - TradingView Ethereum Price Prediction - Will Ether reach 3K Soon?It is unclear whether the crypto market stopped its bearish trend. What's clear on the other hand, is how the Ethereum price reached the strong support of around 2K. The year 2022 already started on a bad note, and the equity market is no better.
Ether prices need a small push to reach $3,000 from a current price of around $2,750. However, prices already increased heavily and might retrace soon. The Fibonacci retracement in figure 2 indicates a potential retracement towards a price area of $2,600.
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Fig.2 ETH/USD 2-hours chart showing a potential retracement - TradingViewIf prices adjust a bit lower following the Fibonacci retracement and the entire crypto market continues on a green note, Ethereum price is likely to reach $3,000 within the next week.
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Ethereum merge© Cryptoticker
The post Ethereum Price THROUGH THE ROOF! When will $ETH reach 3K again? appeared first on CryptoTicker.
The cryptocurrency market recently witnessed a huge crash. All Tokens from different crypto projects lost heavily in prices. The crypto market cap fell from USD 2.5 Trillion to around USD 2.2 Trillion in 24 hours, wiping out Billions in crypto traders' money. Despite Ether losing more than 10% in the last 24 hours, some analysts are saying that now is the perfect time to buy Ether at a discounted price. Christmas season is right around the corner, and there is no better time than now to stock up on your favorite cryptocurrencies. In this article, we're going to quickly recap how to Buy Ether from Kraken.
Is Ethereum a Good Buy in this Crypto Crash?Ether's price fell from a high of USD 4,800 all the way to USD 3,400. This crash was met with a surging buying power which lifted prices back upwards. The current price stabilized around the psychological price of USD 4,000. On the other hand, looking at the weekly view of Ether, one can't but laugh at the FUD headlines which the mainstream media loves. Prices have simply retraced back to the average uptrend line.
In figure 1, we zoom out and look at how prices needed such breathers. Panicking and selling most of your crypto portfolio is a bit too late now. Rather than thinking about liquidating, most professional crypto traders already bought the dip.
Fig.1 ETH/USD 1-week chart showing the zoomed out outlook of ETH - TradingView How to Buy Ether on Kraken? What is Kraken crypto echange?Kraken is one of the biggest and prestigious crypto exchanges across the world. Created in 2011, Kraken was created by Jesse Powell after the Mt. Gox hack occurred. However, the crypto exchange launch came in 2013, after Powell was done with the development. During the launch, the developer mentioned that Kraken would be better than other exchanges in terms of security and organization.
Step by Step Guide - How to Buy Ether on Kraken Sign Up On KrakenLike most centralized crypto exchanges, Kraken requires users to sign up on its platform to access its wide range of services. To sign up on Kraken, a trader must provide specific details like email, username, and password. You can also use your phone number to register your Kraken account.
Users who intend to sign up on Kraken should be 18 or above at the time of registration and must make sure they live in an area that the exchange supports. Kraken advises its users to set up a strong password and keep it on them at all times. This is one of the safest methods to eliminate the chances of a breach in their wallets by losing their passwords.
Verify Your AccountSigning up on Kraken is not enough to buy Ethereum on the platform. This is because the platform makes sure that its users are verified, and this is achieved by taking essential details. To verify your account and start trading, you will need to submit details like Your full government name, date of birth, and phone number used in registering your account.
Verifying your account with the details above means that you can purchase Ethereum with other digital assets. However, if you intend to buy Ethereum with fiat currencies, you must submit additional documents to support the ones above. This is because the platform uses verification levels to grade its users.
For a starter account, you need just the details above, while for an express account, you need to add your social security number and occupation information. The intermediate and pro accounts will require you to add a valid identity card and proof of where you live to the other documents. However, users in South Africa and the United States will need to submit a photograph of their face to pass verification.
In terms of verification time, starter and express accounts take one to two minutes and are automated. Intermediate is automated and takes four to five days for completion. Pro account takes up to five days to be verified, and it is done manually.
Make Your DepositOnce your account is verified, you can now go ahead and fund your account with fiat or digital assets of your choice. Kraken allows deposits of fiats such as US Dollar, Euro, Canadian Dollar, Australian Dollar, Pound sterling, Swiss Franc, and Japanese Yen.
When a deposit is made, Kraken holds the assets for 72 days due to its security policy. Traders should ensure that they deposit funds to the account matching the fiat currency they intend to top up. However, traders should note that the platform charges small fees for deposits that are not added to the balance on the platform. Also, traders should note that deposit methods will depend on their location.
Purchase Your EthereumAfter making your deposits and receiving the fiat equivalent in your account, you can then buy the number of Ethereum you want. Buying Ethereum comes with so many perks as traders can use the charting tools and the 24/7 support on the platform. Also, you will need somewhere to store your assets if you decide not to trade with them. In this case, it is advisable to get a wallet where you can keep them. To store your assets in the long term, you can use a hardware wallet. Kraken warns that it does not allow traders to hold assets on the platform as it only provides exchange services.
Ethereum merge© Cryptoticker
The post Looking to Buy the Dip? Here’s a Quick Guide on How to Buy ETH post-Crash appeared first on CryptoTicker.
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ETH price increased by more than 20%, reaching a critical price area. Will ETH reach 2K? Let's assess in this Ethereum prediction article.
Ether is breaking out of a similar symmetrical triangle pattern that propelled XRP's prices from around $0.50 to around $2.90 within a month.
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