• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Breaking News: Crypto Exchange Binance To Launch Prepaid Card In This South American Country
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Bitcoinist.com
No Result
View All Result
Breaking News: Crypto Exchange Binance To Launch Prepaid Card In This South American Country
Ethereum price featured image
Advertisement

Chilling Fractal: Ethereum’s 150% Rally From March Lows Is About to Reverse

Nick Chong by Nick Chong
3 years ago
in Altcoin Price
0
Advertisement

No multi-billion-dollar asset has performed quite as well as Ethereum over the past seven weeks.

Since the $88 lows that were sustained after March’s “Black Thursday” crash, the cryptocurrency has rallied by 150%, reaching as high as $228 earlier today at the local peak of the ongoing rally.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.

Many investors have been inclined to say that this is just the start of a greater move, citing the technical strength of the uptrend in Ether. But a fractal analysis by a leading crypto trader and a confluence of other factors predicts that Ethereum’s luck will soon run out.

Fractal: Ethereum Subject to Sharp Decline Later This Year

As irrational as the cryptocurrency market may sometimes seem, the market, like others, can be analyzed through a variety of different means. Per a leading crypto trader, one such means is fractals, the repeating of historical price action over other time frames and with other assets.

To prove this, he shared the chart below on April 29th, indicating that Ethereum’s chart from December to now looks remarkably like XRP’s price action in late-2018. The chart suggests that should the fractal play out in full, ETH will crash to fresh yearly lows by the end of the year.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!
Ethereum price fractal
Chart from @im_calmly (Twitter)

Fractal analysis normally receives a lot of flak from skeptics. They claim that it is irrational to expect assets to show repeating patterns on different occasions due to small sample sizes, the existence of coincidences, and the sentiment that charts can be manipulated to fit fractals.

The crypto trader, however, made it clear that he believes fractals are a valid form of analysis for Ethereum, explaining to a skeptic bashing the above chart:

“Markets are a reflection of human psychology and coming up with ‘reasons’ for price action is just retconning.”

This bearish outlook for Ethereum comes as analysts have suggested that Ethereum’s continued decision to embrace stablecoin projects, like Tether’s USDT and USD Coin, could present a long-term threat to the value of ETH. 

Bitcoin Is the Bellwether

A continued rally in the Bitcoin price could put a stop to the correction of Ethereum, while a crash in BTC would enable the bearish scenario laid out above. The leading cryptocurrency, after all, is the bellwether for the rest of this nascent asset class; without Bitcoin, crypto would fail.

Fortunately for holders of Ethereum, analysts are largely optimistic about the prospects of BTC moving forward from both technical and fundamental perspectives.

Fundamentally, a report authored by startup Ryze explained that with the fiat regime being pushed to its extremes with money-printing and negative interest rates, there’s a potential for inflation to increase and potential for trust in alternative monies to grow.

This backdrop sets the stage for “Bitcoin’s greatest test yet.” 

Technically, a trader observed that on April 29th, BTC’s short-term chart registered nearly the exact same signal that was seen in April of 2019, specifically on the day that marked the start of a rally from $4,000 to $14,000 over the span of three months.

Photo by Mike Kotsch on Unsplash
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for many years now. My pieces and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Related Posts

Dogecoin and Elon, SpaceX launch

Dogecoin Crashes Back To Earth While Elon Musk Plays With Rockets

2 years ago
The Flippening in nature

Could Dreams Of Ethereum Flippening Bitcoin Be “Officially Cancelled”?

2 years ago
Ethereum, undraw

Sentiment Flippening: Why This Bitcoin Expert Doesn’t Own Ethereum

2 years ago
Dogecoin Plummets 30% From Highs Following Elon Musk’s SNL Appearance 

Dogecoin Plummets 30% From Highs Following Elon Musk’s SNL Appearance 

2 years ago
Ethereum bull run

Ethereum And The Undeniable Signs Of A Bull Market

2 years ago
DeFi Total Value Locked. A safe.

Ethereum DeFi plus Binance Smart Chain Surpass $100 Billion In Total Value Locked

2 years ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • California DMV Puts Car Titles On Tezos (XTZ) Blockchain...

    2 hours ago
  • Bitcoin Cash (BCH) Associates With TREZOR Wallet, Litecoin...

    2 hours ago
  • Avalanche (AVAX) price rally stalls, Polkadot (DOT) was #1...

    2 hours ago
  • Orbeon Protocol And VeChain Seek To Impact The Real World...

    3 hours ago
  • Meta Masters Guild Presale Raises Over $2m Ahead of Stage 5...

    5 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.