According to crypto analyst John Isige, there is a price rise for Ethereum on the horizon. The analyst asks, “Are investors ready for $2,000?” he asks. Also, the analyst says the bears took over XTZ after Tezos (XTZ) released the Kathmandu protocol upgrade. Finally, the analyst notes that Dogecoin risks giving up its interests. We have compiled John Isige’s ETH, XTZ and DOGE analysis for our readers.
Is Ethereum price ready for $2,000?
The DMI (Directional Movement Index) of the daily chart shows the gradually decreasing air pressure. The $1,200 foothold allowed traders who had previously stayed on the sidelines to jump on the bandwagon before the expected $2,000 move. Therefore, Ethereum price will gain momentum as –DI (red) crosses above +DI (blue).
A buy signal from the TD Sequentials, with red nine candlesticks, confirms the evolving technical picture. If the low of the sixth and seventh candles closes below the low of the eighth and ninth bars, it is possible for traders to evaluate their buy orders.
In this middle, buyer congestion preferably higher than $1,300 is needed to protect the progress made at $1,200. Major moves north will be finite due to the lack of strong demand for the token. Koindeks.com As you follow, the global economy is trying to deal with rising inflation. In the midst of this, it is possible that the effort will continue into the foreseeable future. In particular, institutional investors will stay away from risky asset classes such as crypto until the global economy returns to favorable levels.
All eyes are now on Ethereum’s ability to climb above $1,500, a resistance reinforced by the 100-day SMA (blue). This move will confirm to investors that ETH has gathered the necessary liquidity to continue its uptrend. However, Ethereum will be in faith from potential dips below $1,000 just if it retraces the state above $2,000.
It is worth noting that before the latest flash drop, Ethereum has been clustered in the middle of $1,500 to $1,700 for about two months (July 18 – September 16). In other words, the desired move to $2,000 may not be achieved quickly due to seller congestion in this range. Traders should consider locking in early profits and mania at the 100-day SMA at $1,700 to avoid losing any accrued profits while Ethereum rallies.
“Bears take over Tezos (XTZ)”
Tezos has challenged the strong opposing forces witnessed in the crypto market this week. Now it sees the process at $ 1.5267. Investors continue to be uneasy about the dire economic environment globally, with inflation skyrocketing, particularly in the US and Europe. Tezos is up nearly 4% from reinforcements at $1,400 this week. However, profit takers caused a stumbling block. This forced XTZ to abandon the recovery with a price tag of $1,550. The $1,5170 reinforcements need to continue to avoid losses that wipe out the token’s weekly progress.
Investors reacted positively to the upgrade of the Kathmandu protocol by receiving new cases. However, the bear market has taught traders to take profits early. Thus, it initiated a sustained pullback from a solid convergence resistance formed by the 100-day (blue) Easy Moving Average (SMA) and the 200-day SMA.
All eyes are now focused on the ability of the 38.2% Fibonacci retracement level at $1,5192 to absorb selling pressure. If the Moving Average Convergence Divergence (MACD) maintains its positive outlook, it is possible for buyers to retake control. As long as the MACD settles above the average line, the odds will move the ladder straight up. If the $1,5192 reinforcement is broken, traders will look for new entry positions at the 50-day SMA (red). If a sell flares up, they will need to look for further entries at $1,440 and $1,400.
Has Dogecoin exhausted its upside momentum?
Dogecoin is changing hands at $0.0654. The bulls, on the other hand, are redoubling their efforts to avoid erasing the progress made in the past few days. MACD confirms that buyers are prevailing at the moment. However, further northward movement will be constrained due to declining trade volume. Dogecoin needs a four-hour daily close of seller congestion at $0.0600. Otherwise, traders need to get used to an imminent pullback. The 200-day (purple) SMA is one of the main downsides. The second is the 50-day SMA (red) at $0.0600.
In the second phase of Dogecoin’s recovery of the $0.1000 level, it is preferable to collect more liquidity first. The IOMAP model reveals the presence of volume selling pressure in the middle of $0.0678 to $0.0698. About 86,000 addresses previously purchased 42.54 billion tokens in December. Dogecoin will be difficult to navigate in this hostile territory. Because, investors are likely to consider emptying their bags at their breakeven points.
On-chain, on the other hand, reveals the lack of vital reinforcement areas. This means that the profits accrued this week are in danger of disappearing. This idea also requires traders to be careful. Consider locking in profits when you can, remembering that the bear market isn’t over now.