Price Analysis

Ethereum Technical Analysis: ETH/BTC Extremely Bullish, While ETH/USDT Scuffles Hard!

Written by: Qadir AK

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Jan 9, 2022

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ETH/USDT Price Analysis: Ethereum Price to Lose Another 10%

Ethereum price is on the verge to break down from the crucial support zone and slashing below $3000 levels soon. The asset had maintained strong above $3100 amid the recent sell-off, yet the fresh plunge is feared to drag the price below the crucial support zone. If the current support zones break, the possibility of another 14% plunge could be fast approaching. 

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The ETH price broke from the crucial support levels during the previous day trade and during the present-day trade, the asset is on the verge to break from the next support levels.

The ETH/USDT if fails to sustain above $3000, then the next stop would be around $2800 levels. And soon beneath these levels are the levels along the uptrend line which are pretty crucial to maintain a notable uptrend. 

ETH/BTC Price Analysis – More than 30% Upswing On the Way!

Ethereum currently, is extremely bearish in both the BTC & USDT amid the ongoing heavy price slash. However, in the longer time frame, ETH/BTC is significantly bullish eyeing a huge upswing of more than 40% in the coming days. No doubt the price has just slipped down the crucial resistance zone, yet the uptrend still is in place.

The ETH against BTC in the monthly time frame is currently extremely bullish as the asset has formed a notable bullish pattern.

The price has just fallen apart from the crucial resistance levels at 0.08 BTC, yet it is swinging within the flag pattern. Moreover, it is yet to reach the apex of the triangle and hence it may take yet another month.

Therefore, the ETH/BTC could consolidate within the triangle for yet another month and breakthrough to break through the pattern and surge above the resistance levels. 

Currently, both ETH/BTC & ETH/USDT pairs are extremely bearish for the upcoming entire week. While the USDT pair showcase immense bearish momentum, the BTC pair showcase a remarkable bullish momentum in the long term. 

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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