{"id":181695,"date":"2023-10-26T23:24:41","date_gmt":"2023-10-26T17:54:41","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=181695"},"modified":"2023-10-26T23:24:41","modified_gmt":"2023-10-26T17:54:41","slug":"eth-wobbles-as-altcoins-bleed-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/eth-wobbles-as-altcoins-bleed-crypto-news\/","title":{"rendered":"ETH Wobbles As Altcoins Bleed – Crypto News"},"content":{"rendered":"

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Considerable declines have rocked the crypto market for the first time since the October rally started, led by\u00a0Bitcoin price<\/span><\/a>\u00a0drop from $35,000 resistance, down 2.2% to $33,977.\u00a0Ethereum price<\/span><\/a>\u00a0was not spared, as it encountered headwinds, sliding below support\/resistance at $1,800 to trade 1.3% lower on the day to $1,773.<\/p>\n

The total market value suffered a 2.1% dip to $1.29 trillion due to altcoins taking a major hit. For instance,\u00a0Solana<\/span><\/a>\u00a0is down 6.4% to $31, Chainlink is down 5.2% to $10.53 while Bitcoin Cash dodders at $243 after its market value fell 5.1% in 24 hours.<\/p>\n

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Are Ethereum Price Dips Profitable?<\/h2>\n

The first major dip since the uptrend started early last week has many analysts and investors wondering if dips could turn profitable. Analysts like Rekt Capital believe that dips offer investors opportunities to fill their bags as the bull run continues. Altcoins in particular are expected to have bursts of bullish moments and considerable corrections.<\/p>\n

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A #BTC<\/a> breakout to new Yearly Highs opens up Money Flow into Altcoins<\/p>\n

So even if you missed the $BTC<\/a> breakout\u2026<\/p>\n

<\/p>\n

You can make up for it and then some by playing the Altcoin breakouts<\/p>\n

There is always another opportunity around the corner#Crypto<\/a> #Bitcoin<\/a> pic.twitter.com\/TvF7Gu6jfW<\/a><\/p>\n

\u2014 Rekt Capital (@rektcapital) October 25, 2023<\/a><\/p>\n<\/blockquote>\n

Altcoin Sherpa, a renowned trader and analyst shared a similar sentiment earlier today asking investors \u201cto be cognizant about what the start of a really strong rally looks like.\u201d<\/p>\n

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Although I always try to preach patience, you also need to be cognizant about what the start of a really strong rally looks like. I’m not saying this is anything close to 2021 but it’s still good to note what this spark looks like<\/p>\n

Check $LUNA<\/a> $AVAX<\/a>: no pullbacks, just big moves pic.twitter.com\/ay5he7KQac<\/a><\/p>\n

\u2014 Altcoin Sherpa (@AltcoinSherpa) October 26, 2023<\/a><\/p>\n<\/blockquote>\n

He added in another post on Twitter (now X) that there was the likelihood of altcoins correcting by between 10-20%. \u201cI think that is still possible and valid,\u201d he added.<\/p>\n

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I’m still waiting for alts to pull back 10-20%, I think that is still possible and valid. <\/p>\n

And before anyone says I’m sidelined, I’m always fucking max long and have the majority of my networth in crypto. It’s been that way since I went full time and I don’t expect it to change.<\/p>\n

\u2014 Altcoin Sherpa (@AltcoinSherpa) October 26, 2023<\/a><\/p>\n<\/blockquote>\n

Ethereum Price Prediction: ETH Still On Course To $2,000<\/h2>\n

Ethereum<\/a><\/span>\u00a0started the rally by capitalizing on a double-bottom pattern with support roughly at $1,545. Subsequent steps above key moving averages like the 21-day Exponential Moving Average (EMA) (red), the 100-EMA (blue), and 200-EMA (purple).<\/p>\n

<\/p>\n

The breakout from the double-bottom pattern targeted a 12.25% move to $1,958 but the pullback on Thursday saw Ethereum price abandon the uptrend at $1,868.<\/p>\n

\"Ethereum<\/a>
Ethereum price prediction daily chart | Tradingview<\/figcaption><\/figure>\n

If support at the double-bottom pattern neckline holds, Ether would be in a position to make a stronger move, possibly above the coveted $2,000 blockade.<\/p>\n

The position of the Relative Strength Index (RSI) in the overbought region despite\u00a0Ethereum\u2019s correction<\/span><\/a>\u00a0from October highs, affirms the bullish outlook. In other words, bulls are likely to resume the uptrend as opposed to bears taking over and pushing for lower prices below $1,700.<\/p>\n

All three moving averages, starting with the 200-day EMA at $1,711, the 100-day EMA at $1,648, and the 21-day EMA at $1,658 would be in line to absorb the selling pressure to give bulls a chance to push for another rebound.<\/p>\n

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John is a seasoned crypto expert, renowned for his in-depth analysis and accurate price predictions in the digital asset market. As the Price Prediction Editor for Market Content at CoinGape Media, he is dedicated to delivering valuable insights on price trends and market forecasts. With his extensive experience in the crypto sphere, John has honed his skills in understanding on-chain data analytics, Non-Fungible Tokens (NFTs), Decentralized Finance (DeFi), Centralized Finance (CeFi), and the dynamic metaverse landscape. Through his steadfast reporting, John keeps his audience informed and equipped to navigate the ever-changing crypto market. <\/p>\n<\/p><\/div>\n

\n \"\"\"\" <\/div>\n<\/p><\/div>\n<\/p><\/div>\n
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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–><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Considerable declines have rocked the crypto market for the first time since the October rally started, led by\u00a0Bitcoin price\u00a0drop from $35,000 resistance, down 2.2% to $33,977.\u00a0Ethereum price\u00a0was not spared, as it encountered headwinds, sliding below support\/resistance at $1,800 to trade 1.3% lower on the day to $1,773. The total market value suffered a 2.1% dip […]<\/p>\n","protected":false},"author":2,"featured_media":181696,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-181695","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/181695","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=181695"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/181695\/revisions"}],"predecessor-version":[{"id":181701,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/181695\/revisions\/181701"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/181696"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=181695"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=181695"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=181695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}