{"id":399659,"date":"2022-01-27T01:30:00","date_gmt":"2022-01-26T22:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ethereum-bulls-aim-to-flip-2-8k-to-support-before-calling-a-trend-reversal\/"},"modified":"2022-01-27T01:30:00","modified_gmt":"2022-01-26T22:30:00","slug":"ethereum-bulls-aim-to-flip-2-8k-to-support-before-calling-a-trend-reversal","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ethereum-bulls-aim-to-flip-2-8k-to-support-before-calling-a-trend-reversal\/","title":{"rendered":"# Ethereum bulls aim to flip $2.8K to support before calling a trend reversal"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a4f76cbef340\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a4f76cbef340\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-bulls-aim-to-flip-2-8k-to-support-before-calling-a-trend-reversal\/#Ether_had_a_%E2%80%9Cnice_12_bounce%E2%80%9D_from_the_recent_lows\" >Ether had a &#8220;nice 12% bounce&#8221; from the recent lows<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-bulls-aim-to-flip-2-8k-to-support-before-calling-a-trend-reversal\/#A_bottoming_pattern_on_the_Ether_chart\" >A bottoming pattern on the Ether chart<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-bulls-aim-to-flip-2-8k-to-support-before-calling-a-trend-reversal\/#Ether_bulls_need_to_reclaim_support_at_2850\" >Ether bulls need to reclaim support at $2,850<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Ethereum bulls aim to flip $2.8K to support before calling a trend reversal <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>The dire predictions calling for the onset of an extended bear market may have been premature as prices <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ear to be in recovery mode on Jan. 26 following a signal from the U.S. Federal Reserve that <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/finance.yahoo.com\/news\/fed-fomc-monetary-policy-decision-january-2022-140443689.html\">interest rates will remain near 0%<\/a> for the time being.\u00a0<\/p>\n<p>After the Fed announcement from, prices across the cryptocurrency market began to rise with Bitcoin (BTC) up 4.11% and making a strong push for $39,000. This sparked a wave of momentum that helped to lift a majority of tokens in the market, but at the time of writing BTC price has pulled back to the $37,000 zone.<\/p>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/\">TradingView<\/a> shows that the top smart contract platform Ethereum (ETH) also responded positively to the rise in bullish sentiment as its price climbed 8.11% on the 24-hour chart to hit a daily high at $2,723. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/5fd878a4-a77c-4d5c-8730-e0de1b60cae1.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USDT 1-day chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Here\u2019s a look at what several analysts in the market are saying about the price action for Ethereum and where the top altcoin could be headed in the short term. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ether_had_a_%E2%80%9Cnice_12_bounce%E2%80%9D_from_the_recent_lows\"><\/span>Ether had a &#8220;nice 12% bounce&#8221; from the recent lows<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Short-term analysis of Ether&#8217;s price action was provided by crypto trader and pseudonymous <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> user \u2018CryptoAmsterdam\u2019, who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/damskotrades\/status\/1486340170223915012\">posted<\/a> the following chart outlining one possible path the price of Ether could take in the near future. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/fddb384e-a0ed-4fe9-811a-e450af9e816c.jpg\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>ETH\/USDT 1-hour chart. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>After noting the \u201cnice 12% bounce\u201d in the price of Ether \u201csince the flip,\u201d CryptoAmsterdam gave the warning that they \u201cwouldn\u2019t chase the green here.\u201d <\/p>\n<p>CryptoAmsterdam said, <\/p>\n<blockquote><p>\u201cWill look for a potential short-term flip of bias if we get back under the lower time frame range high and break that little trendline.\u201d<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"A_bottoming_pattern_on_the_Ether_chart\"><\/span>A bottoming pattern on the Ether chart<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Further insight into the state of Ether was offered by options trader and pseudonymous Twitter user \u2018John Wick\u2019, who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ZeroHedge_\/status\/1486318081320407043\">posted<\/a> the following chart highlighting the formation of a bottoming pattern on the Ether chart. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/89fce7e6-ea44-4764-ae75-913413523083.jpg\"><figcaption style=\"text-align: center;\"><em>ETH\/USD 4-hour chart. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>Wick said, <\/p>\n<blockquote><p>\u201cEthereum showing the same bottoming pattern trying to break out of the resistance zone. Needs to see more upside from BTC to breakout.\u201d<\/p><\/blockquote>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Altcoins book 40% gains after Bitcoin and the crypto market enter a relief rally<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ether_bulls_need_to_reclaim_support_at_2850\"><\/span>Ether bulls need to reclaim support at $2,850<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A final bit of analysis on key levels to keep an eye on moving forward was shared by crypto trader and pseudonymous Twitter user \u2018TheCryptoCactus\u2019, who posted the following chart outlining a key support and resistance zone, as well as an area of heavy accumulation. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/45ed2b8d-a30c-4f8e-b763-79b20a520ce3.jpg\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>ETH\/USD 2-day chart. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>According to TheCryptoCactus, those that \u201clonged the bottom\u201d are in a good position for an \u201ceasy hedge\u201d at these levels, but the trader cautioned that what is needed next is \u201cto get a valid support\/resistance flip of $2,850.\u201d<\/p>\n<p>TheCryptoCactus said, <\/p>\n<blockquote><p>\u201cPersonally, would rather wait till we flip $3,000 into support again and then just ape a huge position.\u201d<\/p><\/blockquote>\n<p>The overall cryptocurrency market cap now stands at $1.734 trillion and Bitcoin\u2019s dominance rate is 41.5%.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.<\/p>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ethereum-bulls-aim-to-flip-2-8k-to-support-before-calling-a-trend-reversal\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Ethereum bulls aim to flip $2.8K to support before calling a trend reversal &#8221; The dire predictions calling for the onset of an extended bear market may have been premature as prices appear to be in recovery mode on Jan. 26 following a signal from the U.S. Federal Reserve that interest rates will remain&#8230;<\/p>\n","protected":false},"author":1,"featured_media":399660,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDEvZDc5OWZmNDItYjY4MS00OWRlLWE0YjMtZGUxZmM1NzU5NTIyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74863,82402,74891,79109,74939,70550,70552,73785],"class_list":["post-399659","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-cryptocurrencies","tag-ether-price","tag-ethereum","tag-interest-rate","tag-market-analysis","tag-federal-reserve","tag-interest-rates","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/399659","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=399659"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/399659\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/399660"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=399659"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=399659"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=399659"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}