Ethereum’s Bollinger Bands Signal That a Massive Movement is Imminent
Ethereum has been stuck below its near-term resistance level at $190 for the past several weeks, and both ETH’s bulls and bears have been deadlocked as they hold the cryptocurrency steady within the mid-$180 region.
This bout of sideways trading may soon be coming to an end, however, as analysts are now noting that ETH’s Bollinger Bands are currently squeezing, which means that a massive price movement could be imminent.
Ethereum Stuck in $180 Range as Resistance Holds Strong
At the time of writing, Ethereum is trading down 1% at its current price of $185.70, which marks a slight retrace from its daily highs of $190 that were set yesterday in a brief upwards movement that ultimately resulted in another rejection at this resistance level.
Currently, ETH is trading its lowest price seen over the past 24-hours, but it is nearing a region where it has consistently found decent buying pressure, meaning that it may be able to hold steady above this level in the near-term assuming that there is no major Bitcoin movement that guides the aggregated markets.
Bitcoin has been contributing to ETH’s bout of sideways trading, as it has been caught around $8,700 for the past several days after being rejected from the lower-$9,000 region earlier this week.
A Big ETH Movement Could Be Inbound in Near-Future
Ethereum’s Bollinger Bands are currently incredibly tight, which could signal that a massive price movement is imminent.
RJ, a popular cryptocurrency analyst on Twitter, spoke about this in a recent tweet, explaining that November has also historically been a month of tremendous volatility for the cryptocurrency.
“$ETH / USD: November squeeze, one of the biggest we’ve ever seen: BBW grinding the bottom for almost two months now. Nov ’17 – Start of the bullrun, $280 –> $1400. Nov ’18 – Start of the capitulation, $230 –> $80. Nov ’19 – ?” he noted while pointing to the below chart.
Bitcoin And Crypto Market Cap Declining: BCH, BNB, EOS, TRX Analysis
Tuesday December 10, 2019
The total crypto market cap is declining and it is now well below the $200.0B resistance. Bitcoin price is down close to 2% and it is now trading below the $7,400 support. EOS price...
The post Bitcoin And Crypto Market Cap Declining: BCH, BNB, EOS, TRX Analysis appeared first on 12bitplay - Bitcoin Play.
$ETH / USD
November squeeze, one of the biggest we've ever seenBBW grinding the bottom for almost two months now
Nov '17 – Start of the bullrun, $280 –> $1400Nov '18 – Start of the capitulation, $230 –> $80Nov '19 – ? pic.twitter.com/ZjBJ2wIdT6
— RJ (@RJ_Killmex) November 13, 2019
Bitcoin (BTC) Price Downside Thrust Underway, Bulls Struggling
Wednesday December 11, 2019
Bitcoin price failed to stay above the $7,400 support and declined recently against the US Dollar. The price is trading below $7,280 and it could even decline below the $7,160 support. There is a...
The post Bitcoin (BTC) Price Downside Thrust Underway, Bulls Struggling appeared first on 12bitplay - Bitcoin Play.
As for where this volatility could send ETH, MoonOverlord, another poplar crypto analyst, explained in the chart found within the below tweet that he believes the crypto could target $300 in the near-term.
Tezos (XTZ) Bakes The Crypto Competition With 27% Weekend Surge
Monday December 09, 2019
The weekend has seen marginal gains for most crypto assets as total market capitalization claws back above $200 billion. Tezos has been the clear leader in terms of performance though as it tops $1...
The post Tezos (XTZ) Bakes The Crypto Competition With 27% Weekend Surge appeared first on 12bitplay - Bitcoin Play.
BY THE POWER OF VITALIK $ETH WILL RISE pic.twitter.com/TrswgRax0X
— MOONOVERLORD (@MoonOverlord) November 14, 2019
The coming hours and days could be pivotal for Ethereum, as its response to its tight Bollinger Bands could set the tone for how it trends throughout the rest of the year.
Featured image from Shutterstock.
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