Ethereum Trades Of The Week – 10%, Now Infinity Battle Profit?

Ethereum Trades Of The Week - 10%, Now Infinity Battle Profit?

Looking at the price of Ethereum, investors seem to have plenty to be happy about. After all, the cryptocurrency shows a price increase of more than 20% within the last month. With that, Ethereum is on course for one of its best weeks in months. Recently, however, things have been on the downswing again and the markets are still dominated by uncertainty.

Accordingly, at the beginning of the week, it will be interesting to see if Ethereum can maintain its bullish momentum or see a pullback. So far, things are looking good for Ethereum and its investors, but what’s next?

Ethereum price now: bears are falling again

After a short breather, the bears seem to be back to push Ethereum prices lower again. Today, ETH has lost almost two percent of its value so far, and in the last five days it has lost as much as 10 percent of its value.

[fw_price_chart id=“59″ default=“ETH“]

With this latest drop, Ethereum is back around $1,400, still well above June’s low of under $1,000, but of course well below where the cryptocurrency was trading a few months ago since then. As a reminder: in April you had to shell out a whopping $3,500 for an ETH coin.

Although the general trend seems to be down at the moment, it is important to remember that cryptocurrency prices are very volatile and can change in a very short period of time. Although ETH is currently in the doldrums, there is always a chance that the situation will change again quickly.

Ethereum Chart Analysis: Is There Reason for Optimism?

We still have an incomplete Impulse Elliott Wave on the weekly chart and some analysts think it is the right time to end it.

The bulls managed to protect the 200 moving average, which could still be important. The 200 MA is seen as a key support/resistance zone by major institutions and hedge funds.

If we look at the volume profile indicator, we can see a gap that acted as support and the RSI indicator reveals a clear downward line. According to Elliott Wave analysis, the correction of ABC (classic ZigZag) has been successfully completed, so there could be a new impulse wave in the house now.

Altcoin market in accumulation

From a macro perspective, the price of ETH is of course influenced by various factors. According to the Wyckoff Method market steps, we could be in a market accumulation cycle right now. The four stages of the market cycle are accumulation, mark-up, distribution and mark-down.

During the accumulation phase, a new cycle begins that creates a trading range. This often creates a strong zone of resistance. This is the precursor to a new bull cycle, but it could last for a longer period. Algorithm stop-hunting occurs in the final moments of this phase, which is often seen near downside lows when the price drops just below key support and triggers a selloff.

What is a Debt Stop? Stop Hunting is a strategy that tries to force traders out of positions by driving the price of an asset to a level where many people have placed stop-loss orders. Triggering many stop-loss orders usually results in high volatility, which is often very evident during the accumulation phase of the Wyckoff method. This means that there can be volatility during this phase as the price is constantly rising and falling

This is followed by a recovery wave that takes the price back above the support. In general, the end of the accumulation phase is marked by increased buying pressure and higher prices. Volume also tends to increase during this phase as more people are interested in buying ETH.

The payment phase is usually characterized by lower prices and lower volume. This is when most investors start taking profits and sell ether into other assets. The markup phase is the final phase of the bear market cycle and often involves panic selling and capitalization.

Taking all this into account, Ethereum can fall and rise several times (within a range) until a clear bottom is formed and the next bullish phase / bull cycle begins. It seems like an interesting time to accumulate and even do some low risk swing trades. So if you are considering investing in Ethereum, now is a good time to do your research and strategize.

Battle Infinity ensures SoftCap with 2000 BNB from PreSale

It seems like Ethereum could be swinging in all directions right now. For those who find this bet too complicated, another option can be presented that has a higher risk, but is just beginning to be developed.

battle infinity

Battle Infinity, a Metaverse gaming startup, has secured BNB 2000 funding through the IBAT token presale. This represents the soft cap for the company’s fundraising goals. Battle Infinity plans to use the funds to expand its gaming platform, which will include features such as NFT trading and betting. The company is selling 28% of its total IBAT voucher inventory as part of the pre-sale. The pre-sale ends on October 10.

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