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 is at risk of giving up its earnings. We have compiled John Isige’s analysis of ETH, XTZ and DOGE 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 support allowed traders who had previously stayed on the sidelines to jump on the bandwagon before the anticipated $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 consider buy orders.
Meanwhile, buyer congestion preferably higher than $1,300 is needed to protect the progress made at $1,200. Major moves north will be limited due to the lack of strong demand for the token. cryptocoin.comAs you follow, the global economy is trying to fight rising inflation. In the midst of this, it is possible that he will continue to fight for the foreseeable future. Institutional investors, in particular, will stay away from risky asset classes like crypto until the global economy returns to favorable levels.
All eyes are now on Ethereum’s ability to climb above $1,500, a resistance level 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 only be safe from potential dips below $1,000 if it retraces the position above $2,000.
It is worth noting that before the most recent flash drop, Ethereum has been clustered between $1,500 and $1,700 for about two months (July 18 – Sept. 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 hurdle at $1,700 at the 100-day SMA to avoid losing any accrued gains while Ethereum rallies.
“Bears take over Tezos (XTZ)”
Tezos has challenged the strong opposing forces witnessed in the crypto market this week. It is now trading at $1.5267. Investors remain uneasy about the deteriorating economic environment globally, especially with inflation peaking in the US and Europe. Tezos is up about 4% from support 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. Support at $1,5170 needs to be sustained to avoid losses that wipe out the token’s weekly progress.
Investors responded positively to the upgrade of the Kathmandu protocol by taking new positions. However, the bear market has taught traders to take profits early. Thus initiated a sustained pullback from a solid converging resistance formed by the 100-day (blue) Simple Moving Average (SMA) and the 200-day SMA.
All eyes are now focused on the ability of the 38.2% Fibonacci retracement level to absorb the rising selling pressure at $1,5192. If the Moving Average Convergence Divergence (MACD) holds its positive outlook firmly, it is possible for buyers to retake control. As long as the MACD settles above the average line, the rates will move up the ladder. If the $1,5192 support 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 doubling down on 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 limited due to reduced 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 bearish targets. The second is the 50-day SMA (red) at $0.0600.
In the second phase of Dogecoin reclaiming the $0.1000 level, it would be preferable to gather more liquidity first. The IOMAP model reveals the presence of volume selling pressure between $0.0678 and $0.0698. About 86,000 addresses previously purchased 42.54 billion tokens in the range. It will be difficult for Dogecoin to navigate this hostile territory. Because investors are likely to consider emptying their bags at their breakeven point.
On-chain, on the other hand, reveals the lack of vital support areas. This means that accrued earnings this week are in danger of disappearing. This thinking also requires traders to be careful. Consider locking in profits when you can, remembering that the bear market isn’t over yet.
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