{"id":506603,"date":"2022-10-17T12:12:39","date_gmt":"2022-10-17T12:12:39","guid":{"rendered":"https:\/\/ktsl888.com\/?p=506603"},"modified":"2022-10-17T10:53:41","modified_gmt":"2022-10-17T10:53:41","slug":"ethereum-in-tight-range-will-selling-pressure-push-eth-below-1250","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum-in-tight-range-will-selling-pressure-push-eth-below-1250\/","title":{"rendered":"Ethereum In Tight Range – Will Selling Pressure Push ETH Below $1,250?"},"content":{"rendered":"

Ethereum, the undisputed ruler of the altcoin market, is now stuck in a bear market as the token struggles to break the $1,300 resistance level. However, the current market price is $1,302.87, only 0.22 percent more than the key psychological buy point.<\/p>\n

Despite how good this sounds, the way the market is moving right now, the bear market is likely to continue this month, which is not good\u00a0news for ETH.<\/p>\n

The possibilities of a bear market recovery for ETH are slim due to the terrible state of the macroeconomy<\/a>, according to The Guardian.<\/p>\n

In this year’s much-hyped “Uptober,”\u00a0the token is probably going to experience even more misery than usual. However, what do the graphs show?<\/p>\n

Related Reading: NEAR Platform Active Users Soar \u2013 \u2018Sweat Economy\u2019 Boosting Token\u2019s Price?<\/a><\/div>\n

Trading In A Tight Band<\/strong><\/h2>\n

At the time of writing, the altcoin\u00a0was expected to trade in a narrow band. Before that, however, the price of ETH has fluctuated over the past 25 days between $1,188\u00a0and $1,411.\u00a0Since this coincides with when the Federal Reserve hiked interest rates, it demonstrates especially tumultuous market conditions at the time.<\/p>\n

As previously indicated, Ether is presently following a pennant formation. This pattern is a bearish sign that matches the preceding price action. The price has decreased to $1,300.35, where we anticipate a significant price movement on or near the price level.<\/p>\n

\"\"<\/p>\n

Chart: TradingView<\/a><\/pre>\n

With the current sideways market action, technical analysis is also quite neutral. The momentum indicator demonstrates a sharp decline following the market meltdown on September 13, which was followed by a rebound and leveling from September 21 to the present.<\/p>\n

Chaikin’s money flow index, which currently stands at 0.05, is positive, indicating that bulls rule the market. Stochastic RSI values also confirm this strengthening bullish momentum.<\/p>\n

As the RSI is close to oversold zone, it strengthens the bullish momentum seen in other technical indicators, giving investors a good buying opportunity.<\/p>\n

Ethereum: Price Reversal Likely?<\/strong><\/h2>\n

Despite the price narrowing to a point, ETH may be repeating the previous July-August rally in which it created three bottoms before rising. As of this writing, the altcoin has already established these three bottoms and may be on the ascent.<\/p>\n

Despite this, bulls should continue to be cautious due to the difficult market conditions. If today’s market closes in the green above $1,300, we may witness a rally that tests or breaches the $1,345 level of resistance.<\/p>\n

Related Reading: Elrond (EGLD) Price May Break Past $56 Hurdle \u2013 Here\u2019s How<\/a><\/div>\n

<\/p>\n

ETHUSD pair trading at $1320 on the weekend chart | Featured image from TradeMap, Chart: TradingView.com<\/a>\r\n\r\nDisclaimer: The analysis represents the author's personal views and should not be construed as investment advice.<\/pre>\n","protected":false},"excerpt":{"rendered":"

Ethereum, the undisputed ruler of the altcoin market, is now stuck in a bear market as the token struggles to break the $1,300 resistance level. However, the current market price is $1,302.87, only 0.22 percent more than the key psychological buy point. Despite how good this sounds, the way the market is moving right now, the bear market is likely to continue this month, which is not good\u00a0news for ETH. The possibilities of a bear market recovery for ETH are slim due to the terrible state of the macroeconomy, according to The Guardian. In this year’s much-hyped “Uptober,”\u00a0the token is probably going to experience even more misery than usual. However, what do the graphs show? Related Reading: NEAR Platform Active Users Soar \u2013 \u2018Sweat Economy\u2019 Boosting Token\u2019s Price? Trading In A Tight Band At the time of writing, the altcoin\u00a0was expected to trade in a narrow band. Before that, however, the price of ETH has fluctuated over the past 25 days between $1,188\u00a0and $1,411.\u00a0Since this coincides with when the Federal Reserve hiked interest rates, it demonstrates especially tumultuous market conditions at the time. As previously indicated, Ether is presently following a pennant formation. This pattern is a bearish sign that matches the preceding price action. The price has decreased to $1,300.35, where we anticipate a significant price movement on or near the price level. Chart: TradingView With the current sideways market action, technical analysis is also quite neutral. The momentum indicator demonstrates a sharp decline following the market meltdown on September 13, which was followed by a rebound and leveling from September 21 to the present. Chaikin’s money flow index, which currently stands at 0.05, is positive, indicating that bulls rule the market. Stochastic RSI values also confirm this strengthening bullish momentum. As the RSI is close to oversold zone, it strengthens the bullish momentum seen in other technical indicators, giving investors a good buying opportunity. Ethereum: Price Reversal Likely? Despite the price narrowing to a point, ETH may be repeating the previous July-August rally in which it created three bottoms before rising. As of this writing, the altcoin has already established these three bottoms and may be on the ascent. Despite this, bulls should continue to be cautious due to the difficult market conditions. If today’s market closes in the green above $1,300, we may witness a rally that tests or breaches the $1,345 level of resistance. Related Reading: Elrond (EGLD) Price May Break Past $56 Hurdle \u2013 Here\u2019s How ETHUSD pair trading at $1320 on the weekend chart | Featured image from TradeMap, Chart: TradingView.com Disclaimer: The analysis represents the author’s personal views and should not be construed as investment advice.<\/p>\n","protected":false},"author":557,"featured_media":506604,"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":[1020,14690,1558,8323,4854,1946,8686],"class_list":["post-506603","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-blockchain","tag-crypto-news","tag-cryptocurrency","tag-eth","tag-ether","tag-ethereum","tag-ethusd"],"acf":[],"yoast_head":"\nEthereum In Tight Range - Will Pressure Push ETH Below $1,250?<\/title>\n<meta name=\"description\" content=\"Ethereum (ETH) is now stuck in a bear market as the token struggles to break the $1,300 level. 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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:\/\/ktsl888.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum In Tight Range – Will Selling Pressure Push ETH Below $1,250?","url":"http:\/\/ktsl888.com\/news\/ethereum-in-tight-range-will-selling-pressure-push-eth-below-1250\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/ethereum-in-tight-range-will-selling-pressure-push-eth-below-1250\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/10\/Ethereum-14.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/10\/Ethereum-14.png?fit=758%2C457"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["blockchain","crypto news","cryptocurrency","eth","ether","ethereum","ethusd"],"dateCreated":"2022-10-17T12:12:39Z","datePublished":"2022-10-17T12:12:39Z","dateModified":"2022-10-17T12:12:39Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum In Tight Range – Will Selling Pressure Push ETH Below $1,250?\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ethereum-in-tight-range-will-selling-pressure-push-eth-below-1250\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ethereum-in-tight-range-will-selling-pressure-push-eth-below-1250\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/Ethereum-14.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/Ethereum-14.png?fit=758%2C457\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"blockchain\",\"crypto news\",\"cryptocurrency\",\"eth\",\"ether\",\"ethereum\",\"ethusd\"],\"dateCreated\":\"2022-10-17T12:12:39Z\",\"datePublished\":\"2022-10-17T12:12:39Z\",\"dateModified\":\"2022-10-17T12:12:39Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/10\/Ethereum-14.png?fit=758%2C457","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/506603"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=506603"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/506603\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/506604"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=506603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=506603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=506603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}