Name Price24H (%)
Bitcoin (BTC)
$37,881.00
5.01%
Ethereum (ETH)
$2,761.25
8.20%
Binance Coin (BNB)
$410.73
17.21%
Cardano (ADA)
$1.79
4.34%
The Bearish Signal Ethereum Bulls Need To Fear
Ethereum, News

The Bearish Signal Ethereum Bulls Need To Fear

Ethereum is above $4,000 and has hit a price level that’s nearly three full times the Just like Bitcoin, crypto investors have almost no interest in selling their ETH – only buying it. The recent “spot driven rally” as analysts are calling it, has taken the trending Bitcoin And Ethereum Bleed 10% In Violent Crypto Market Shakeout

ETH 2.0 is in progress, and a scarcity improvement – EIP-1559 – will make the asset even more valuable to hold in the long term. It, and the recent recovery on the BTC trading pair, has prompted the return of “flippening” discussion.

What could possibly go wrong for the second-ranked crypto asset encroaching on Bitcoin’s throne?

ethereum bearish peak top cycle

Ledger - Crypto Beginners Pack
This bearish divergence and Pi cycle "top" signal doesn't look good | Source: ETHUSD on TradingView.com

The Bearish Signals That Could Surprise Crypto Bulls, End Current Cycle

Unfortunately for bulls, Ethereum is exhibiting signs that resulted in the last bear market across crypto. On weekly timeframes, there’s a massive hidden bearish divergence, just as Ethereum brushes up against diagonal resistance.

Prior to the most recent push, Philip Swift’s “Pi Cycle Top” indicator used for Bitcoin peaks triggered – just as it did during the last bull market as it came to its conclusion.

Related Reading | Here’s Where The Ethereum Rally Could Pause, According To Bitcoin Blueprint

Bitcoin reversed first, and capital flowed into altcoins boosting the BTC trading pair ratio and beginning the talk of flippening. Now, the same sort of talk is back, and once again it is alt season and the top crypto by market cap has paused its rally.

ethereum td

A TD "sell" setup has marked the peak of most major rallies in Ether | Source: ETHUSD on TradingView.com

Making matters worse, there’s also a TD sell setup on the weekly timeframe, which yet again was a near-flawless top sign both in 2018 and again in mid-2019.

If Bitcoin takes a dive here, and sends the ETHBTC trading pair back to former highs, the coincidences could be too many to ignore. Bulls might have had their final push in both Bitcoin and Ethereum, and what comes next is a

coinmag

Cryptocurrency news, blockchain news, markets news, cryptocurrency analysis, cryptocurrencies prices.