{"id":37364,"date":"2022-12-07T04:54:02","date_gmt":"2022-12-07T04:54:02","guid":{"rendered":"http:\/\/egrowonline.com\/?p=37364"},"modified":"2022-12-07T04:54:02","modified_gmt":"2022-12-07T04:54:02","slug":"ethereum-march-2020-fractal-hints-at-price-bottom-but-eth-bears-predict-50-crash","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=37364","title":{"rendered":"Ethereum ‘March 2020’ fractal hints at price bottom \u2014 But ETH bears predict 50% crash"},"content":{"rendered":"


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Ethereum’s native token, Ether (ETH<\/a>), eyes a strong bullish reversal after losing 25% from its November high of $1,675, according to a bottom fractal<\/a> spotted by independent market analyst Wolf.<\/p>\n

Can Ethereum price co its March 2020 fractal?\u00a0\u00a0<\/h2>\n

Wolf compares Ethereum’s multi-month downtrend between May 2018 and March 2020 with a similar but relatively shorter correction after July 2022<\/a>. If the move repeats, that means the price of Ether has bottomed in November 2022, according to the analyst, as shown below.<\/p>\n

ETH\/USD 2019-20 and 2022 price performance comparison. Source: TradingView\/Wolf<\/em><\/figcaption><\/figure>\n

Wolf draws cues from March 2020’s Ethereum price crash triggered by the Covid-19 pandemic<\/a> \u2014 a black swan event. Similarly, ETH price was pushed down in November 2022 due to another black swan \u2014 the collapse of cryptocurrency exchange FTX<\/a>.<\/p>\n

But ETH\/USD rebounded aggressively after the March 2020 crash, boosted by the Federal Reserve’s rate cuts<\/a> that injected more money into the economy, part of which flowed into the crypto market. <\/p>\n

Similarly, in November 2022, Ether’s modest recovery post-FTX “black swan” coincides with growing expectations of the Fed slowing its rate hikes<\/a>.\u00a0Thus, Ether has a good chance at repeating the March 2020 fractal to new monthly highs.<\/p>\n

Moreover, independent market analyst, Cold Blood Shiller, sees<\/a>\u00a0a “clear breakout point” on Ethereum’s daily chart, namely its Awesome Oscillator\u00a0(AO) and Relative Strength Index (RSI). Both indicators appear to have been flipping bullish recently, as shown below.<\/p>\n

ETH\/USD daily price chart. Source: TradingView\/Cold Blood Shiller<\/em><\/figcaption><\/figure>\n

Bears anticipate ETH losing another 50%<\/h2>\n

Nevertheless, Ether is currently down 75% from its record in November 2021 with the market seeing multiple bull traps since.\u00a0<\/p>\n

Market analyst Aditya Siddhartha Roy notes<\/a>\u00a0the possible formation of a similar bull trap in the current miniuptrend, which he argues risks exhaustion near a multi-month descending resistance trendline.<\/p>\n

ETH\/USD daily price chart. Source: TradingView\/Aditya Siddhartha Roy<\/em><\/figcaption><\/figure>\n

A decisive pullback from the descending trendline would push Ether toward $700, which may be a “possible bottom,” Roy explains.\u00a0<\/p>\n

Related:\u00a0Ethereum derivatives look bearish, but traders believe the ETH bottom is in<\/a><\/em><\/strong><\/p>\n

Roy’s analysis aligns with Ethereum’s symmetrical triangle setup, best visible on its longer-timeframe chart shown below, whose technical downside target is around $675.<\/p>\n

ETH\/USD three-day price chart. Source: TradingView<\/em><\/figcaption><\/figure>\n

In other words, the ETH\/USD pair is still at risk of dropping another 50% in early 2023.<\/p>\n

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.\n<\/p>\n<\/div>\n


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Ethereum’s native token, Ether (ETH), eyes a strong bullish reversal after losing 25% from its November high of $1,675, according to a bottom fractal spotted by independent market analyst Wolf. Can Ethereum price co its March 2020 fractal?\u00a0\u00a0 Wolf compares Ethereum’s multi-month downtrend between May 2018 and March 2020 with a similar but relatively shorter […]<\/p>\n","protected":false},"author":1,"featured_media":37365,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[41],"tags":[1843,828,1000,181,158,2630,1898,1812,343,195],"class_list":["post-37364","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-bears","tag-bottom","tag-crash","tag-eth","tag-ethereum","tag-fractal","tag-hints","tag-march","tag-predict","tag-price"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/12\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTIvYmRhZDM0ZDctODU2ZC00ZjhhLTgxYjYtNjA2ZGM2NjQ0YjllLmpwZw.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/37364","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=37364"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/37364\/revisions"}],"predecessor-version":[{"id":37366,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/37364\/revisions\/37366"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/37365"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37364"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}