Ethereum Faces New Wave Of Selling — $3,550 Support In Focus

Ethereum price started a fresh decline below $3,750. ETH is moving lower below $3,700 and might decline further if it trades below $3,550. Ethereum started another bearish wave after it failed to clear $3,880. The price is trading below $3,700 and the 100-hourly Simple Moving Average. There is a contracting triangle forming with resistance at $3,650 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it trades below $3,550. Ethereum Price Dips Further Ethereum price failed to stay in a positive zone and started a fresh decline below $3,880, like Bitcoin. ETH price declined below $3,800 and $3,750 to enter a bearish zone. The decline gained pace below $3,650. Finally, the bulls appeared near $3,550. A low was formed at $3,557 and the price is now consolidating losses near the 23.6% Fib retracement level of the recent decline from the $3,920 swing high to the $3,557 low. Ethereum price is now trading below $3,800 and the 100-hourly Simple Moving Average. If there is a recovery wave, the price could face resistance near the $3,650 level. There is also a contracting triangle forming with resistance at $3,650 on the hourly chart of ETH/USD. The next key resistance is near the $3,740 level and the 50% Fib retracement level of the recent decline from the $3,920 swing high to the $3,557 low. The first major resistance is near the $3,800 level. A clear move above the $3,800 resistance might send the price toward the $3,880 resistance. An upside break above the $3,880 region might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,000 resistance zone or even $4,050 in the near term. More Losses In ETH? If Ethereum fails to clear the $3,800 resistance, it could start a fresh decline. Initial support on the downside is near the $3,580 level. The first major support sits near the $3,550 zone. A clear move below the $3,550 support might push the price toward the $3,500 support. Any more losses might send the price toward the $3,420 region in the near term. The next key support sits at $3,350 and $3,320. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,550 Major Resistance Level – $3,800

Bitcoin Price Poised For A Bullish November: Key Catalysts That Can’t Be Ignored

As the new month began, the Bitcoin price opened on a downward trend, slipping below its consolidation range amid rising uncertainty and bearish sentiment in the market. Nevertheless, analysts are identifying a collection of indicators suggesting that a bullish resurgence for the cryptocurrency could be on the horizon. What’s Fueling BTC’s Potential Surge This November? According to experts at The Bull Theory, November is poised to be the most bullish month of the year for Bitcoin, and the supporting numbers are quite compelling. Historically, November has been one of the strongest months not only for US equities but also for the Bitcoin price. For stocks, it consistently ranks as a top-performing month, while Bitcoin has historically recorded some of its most significant rallies during this time, averaging gains between 40% and 42%. What sets this November apart, however, are the underlying factors at play. One of the primary catalysts identified by the analysts is the anticipated end of the US government shutdown, which is expected to conclude this month. While this may seem like a political issue, its financial implications are substantial. They assert that the resumption of government spending means “billions of dollars” will start flowing back into contractors, projects, and public sectors. This return to fiscal spending acts as a mini liquidity injection into the economy. Historically, such movements of money have had a positive effect on risk assets, including equities and cryptocurrencies, as capital begins to rotate from the real economy into the financial system. Another significant factor is the planned ramp-up of corporate buybacks. Within the next few weeks, many major companies are expected to restart their buyback programs. This creates new demand in equities at a time when liquidity is improving, which historically has pushed stock indices higher. Given that cryptocurrencies often track global liquidity cycles, this corporate-driven demand could similarly benefit the crypto market. Bitcoin Price To Reach $160,000? Additionally, the Federal Reserve (Fed) has quietly re-entered the scene, as evidenced by a spike in daily overnight repo loans, which reached $29.4 billion—the highest level in nearly five years. This significant borrowing indicates that banks are short on dollars and are relying heavily on the Fed. Such activity typically signals stress in the short-term funding market. Historically, when repo activity surges, the Fed tends to inject liquidity to stabilize the situation. This influx of capital does not remain isolated within the banking system; it tends to flow through markets, lifting equities and eventually benefiting cryptocurrencies once confidence is restored. Moreover, the US Treasury’s General Account (TGA) balance has surged close to $1 trillion, sitting approximately $150 to $200 billion above normal levels. This capital is currently idle, but once government spending resumes following the shutdown, it is likely to begin circulating again. If the Bitcoin price performance this November mirrors its historical averages, the analysts anticipate a potential rally of around 40%. Such an increase could see the Bitcoin price reaching the $150,000 to $160,000 range.