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ETH’s price shows the first sign of bounce after forming a bullish pattern as the price gets rejected into a descending range channel.  ETH bounced off its downtrend movement as the price builds more momentum in a descending triangle with a breakout on either side open.  The price of ETH continues in its range movement as the price gets rejected and trades below the 50 and 200 Exponential Moving Averages (EMA). The price of Ethereum (ETH) after its “Ethereum Merge” hasn’t been encouraging as the price has dropped far below the expectations of many. After rallying to a high of $2,030 before its merge, the price of Ethereum (ETH) has seen its price decline with little or no bounce to the upside as the market continues with so much uncertainty as to where the crypto market could be headed in the next few weeks. Despite so much speculation of a better month, with many referring to it as Uptober based on past data and price movement, the result has yet to see much change. (Data from Binance) Related Reading: Shiba Inu Burn Rate Spikes By 1,860% – Why Investors Should Take Note Of This Ethereum (ETH) Price Analysis On The Weekly Chart. Ethereum’s price has struggled to regain its bullish momentum in recent times; despite the uncertainty that has befallen the crypto space, the price of ETH has yet to enjoy the measure of relief it had in previous weeks before its merge. ETH showed much strength on the weekly chart rallying from a low of $900 to a high of $2,030 before facing rejection from that region.  After the price of ETH rallied to a high of $2,030, the price has faced rejection to break higher to a region of $2,500-$3,000, and the price has continued to struggle to stay afloat, considering how tough the crypto market has been lately. ETH’s price was rejected to a region of $1,600, where it had formed strong Support before rallying to a high of $2,030. The price of ETH after rejection could not hold this support area which would be a good area to push prices higher as the price fell to $1,400. With the price further losing $1,400 support, the price battled to hold above $1,200, acting as a key demand zone for prices. Weekly resistance for the price of ETH – $1,450. Weekly Support for the price of ETH – $1,200. Price Analysis Of ETH On The Daily (1D) Chart In the daily timeframe, the price of ETH continues to trade below the key resistance formed at 50 EMA after forming a descending triangle as the price attempts to break into a higher price range.  The price of ETH needs to break and hold above $1,400 for the price to trend higher to a region of $1,550 and possibly $1,600, which is a key supply zone ETH price in recent weeks.  Daily resistance for the ETH price – $1,400. Daily Support for the ETH price – $1,270. Related Reading: Tron Hits Record 117 Million Users, But TRX Price Increase Is Mediocre Featured Image From Uopeople, Charts From Tradingview

Investment manager and founder of Ark Invest Cathie Wood disclosed that she made a $100,000 investment in Bitcoin (BTC) when it sold for $250 in an October 21 interview on What Bitcoin Did.

The post Cathie Wood $100k Bitcoin investment reportedly made over $7M profit appeared first on CryptoSlate.

The price of Chainlink (LINK) has resumed selling pressure after falling below the current support. In the previous price action, Chainlink moved between $6.60 and $8.00 price levels.

Historical data of an on-chain indicator could suggest Bitcoin may not be in danger of another sharp crash right now. Bitcoin Spot Exchange Depositing Addresses Stay At Very Low Values As pointed out by an analyst in a CryptoQuant post, signs are that another crash similar to Q3 2018 isn’t likely to happen currently. The relevant indicator here is the “spot exchange depositing addresses,” which is a measure of the total number of Bitcoin wallet addresses that are making send transactions to centralized spot exchanges right now. Generally, investors deposit their coins on spot exchanges for selling purposes. Thus, a spike in this metric can be bearish for the price of the crypto as it could be a hint at dumping behavior from a large number of addresses. On the other hand, low values imply not many holders are adding to the selling pressure in the market at the moment. Now, here is a chart that shows the trend in the Bitcoin spot exchange depositing addresses over the last few years: Looks like the value of the metric has been going down in recent months | Source: CryptoQuant As you can see in the above graph, the quant has marked the relevant zones of trend for the Bitcoin spot exchange depositing addresses. It seems like usually around periods where this indicator has sharply risen up to local tops, the price of BTC has also observed a top and subsequently declined. Related Reading: Will Bitcoin Tank Following The Charles Schwab Indicator? Do BTC Investors Need To Worry? Since the bull run top last year, the spot exchange depositing addresses have been overall winding down, seeing only a couple of peaks in the period. Some investors have recently been wondering whether another sharp drawdown is coming for Bitcoin in the near future, just like the one the 2018 bear market saw after months of sideways movement similar to now. Looking at the chart for the trend during the 2017/2018 cycle, it’s apparent that the metric declined following the bull run top and then plateaued at low levels as the bear market went on. Related Reading: Bitcoin Dominance To Regain Control Over Crypto? | BTC.D Analysis October 20, 2022 However, in Q3 2018, the indicator suddenly jumped up. A couple of months or so after this happened, the price observed a crash. As during recent weeks there has been no such sharp increase in the indicator, the analyst believes there is no indication that a decline similar to then would take place now. BTC Price At the time of writing, Bitcoin’s price floats around $18.8k, down 4% in the last week. The value of the crypto seems to have dipped below the $19k level again | Source: BTCUSD on TradingView Featured image from André François McKenzie on Unsplash.com, charts from TradingView.com, CryptoQuant.com

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