Ethereum risks ‘bull trap’ after 25% ETH price rebound

Ethereum’s token Ether (ETH) could be entering a “bull trap” zone after rebounding back above the $1,000 mark from 18-month lows of $885.  Ether price paints a “rising wedge” The first among these indicators is a “rising wedge,” a classic bearish reversal setup that forms after the price trends upward inside a range defined by two ascending but converging trendlines. The wedge setup gains further confirmation if the trading volume drops alongside the rising prices. Theoretically, a rising wedge resolves after the price breaks below its lower trendline and eyes…

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Ethereum analyst warns of ‘clean fakeout’ despite 30% ETH price rebound

Ethereum’s native token, Ether (ETH), underwent a sharp relief rally after falling to $880, its lowest level in eighteen months, on June 18. ETH price regains 30% in two days Ether’s price reached above $1,150 this June 19, marking 30%-plus gains in just two days. However, at the beginning of the new weekly session this June 20, the ETH/USD pair hinted at giving up its weekend gains, with its price plunging by almost 9% from the $1,150 high.  PostyXBT, an independent market analyst, told his 79,800 followers to be careful…

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Cardano price fake-out? ADA’s 45% rebound in two days could trap bulls

Cardano (ADA) price climbed from $0.48 on May 30 to as high as $0.68 on May 31—a 45% rally in less than 48 hours. But ADA/USD failed to extend its rally further upward and dropped by almost 13.75% from its weekly high. ADA price: Ear market vibes Cardano’s price retreated sharply on June 1, giving up a portion of the gains secured in the previous two days. The question now arises whether the ADA/USD pair can extend its recovery trend, especially as it trades almost 80% below its September 2021 peak of…

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Terra LUNA hits new all-time high after 100% rebound from 2022 lows — Correction ahead?

Terra (LUNA) rose to its best level to date on March 29 as the Luna Foundation Guard’s (LFG) plans to increase its Bitcoin (BTC) reserves eased anxiety about the impact of an increasingly hawkish Federal Reserve and the ongoing Ukraine-Russia war on crypto markets. LUNA price hits new record high above $106 LUNA’s price breached above the previous record high of $106.29 by minuscule margins, reversing the losses incurred during the selloff between December 2021 and January 2022. The latest price rally pushed Terra token’s net capitalization crossed $37.17 billion,…

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Softer-than-expected crypto regulation and stocks’ rebound position Bitcoin for a $42K close

Bitcoin (BTC) bulls jumped in to defend the $40,000 level after a devastating retest of the $38,000 support on March 7. The confidence and momentum that was building up earlier in the month was suddenly shattered after BTC failed to break $44,500 for the third time this month on March 2. The Bitcoin price rally on March 9 has been partially attributed to this week’s expected United States inflation data report. Analysts expect another 40-year record high as the consumer price index (CPI) reaches 7.9% yearly gains. Furthermore, a statement from…

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Terra off to new record high as LUNA price outperforms market with 30% rebound in 3 days

Terra (LUNA) resumed its upward march this week as its price per token rebounded by more than 30% three days. LUNA’s price almost reached $100 on March 9 following a 15% intraday rally, coming near its record high of $106 from December 2021. At its week-to-date (WTD) low, the Terra token was trading at $75.60. LUNA/USD daily price chart. Source: TradingView Over 120 million LUNA burned already The recent bout of buying in the Terra market appeared in part due to similar recoveries elsewhere in the crypto market. For instance,…

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Bitcoin price holds key support level — Can BTC rebound to $43K next?

Bitcoin (BTC) looks poised to test the $43,000 level in March, according to a technical setup shared by Rekt Capital, a pseudonymous market analyst.  BTC rebounds from solid 2022 support Bitcoin’s drop toward $37,000 on March 7 was met with modest buying sentiment, leading to a price rebound above $39,000 on March 8. Interestingly, the upside retracement move originated around the same upward sloping trendline serving as an accumulation zone for traders in 2022. Update after 2 months: Too many retail investors on derivative exchanges could be a bearish signal.…

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Bitcoin rebound hits $45.5K as focus switches to future support retests

Bitcoin (BTC) hit new multi-week highs above $45,000 on Feb. 8 as the largest cryptocurrency’s comeback continued. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $40,000 becomes popular retest target Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $45,500 on Bitstamp in its latest surge before consolidating. Volatility was once again in evidence as the pair fluctuated by $1,000 on intra-hour timeframes, circling $44,800 at the time of writing. Fears of a major correction were nonetheless left unfounded on the day, despite theories that $40,000 could see a retest next.…

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Ethereum eyes $3.5K as ETH price reclaims pandemic-era support with 40% rebound

Ethereum’s native token Ether (ETH) looks poised to hit $3,500 in the coming sessions as it reclaimed a historically strong support level on Feb. 5. Ethereum price back above key trendline ETH price rising above its 50-week exponential moving average (50-week EMA; the red wave in the chart below) means the price also inched above $3,000, a psychological support level that may serve as the ground for Ether’s next leg up. ETH/USD weekly price chart. Source: TradingView The 50-week EMA was instrumental in maintaining Ether’s bullish bias across 2020 and…

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Polygon (MATIC) sees a strong oversold bounce after $250B crypto market rebound

Polygon (MATIC) emerged as one of the best performers among high-ranking cryptocurrencies on Wednesday as the price rose nearly 17% to reach an intraday high at $1.825. The gains surfaced amid a synchronous rebound across the crypto market that started on Jan. 24. In detail, investors and traders poured in over $250 billion across digital assets, benefiting Bitcoin (BTC), Ether (ETH) and many others in the process. Performance of the top-fifteen cryptocurrencies in the last 15 days. Source: TradingView Polygon, a secondary scaling solution for the Ethereum blockchain, also cashed in on the…

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