Skip to content
Herald Sheets

Herald Sheets

Live Cryptocurrency News

Follow Herald Sheets on Twitter, Facebook, Telegram, Please Read Our Disclaimer

  • Homepage
  • Start Trading
  • Guide
  • Crypto News
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Ripple (XRP)
    • Dogecoin (DOGE)
    • Cardano (ADA)
    • Litecoin (LTC)
  • Analysis
  • Blockchain
  • Mining
  • Reviews
    • Brokers
    • Exchanges
  • Regulation
  • Press Release
  • About Us
    • Contact Us
    • Privacy Policy
    • Editorial Policy
    • Submit Press Release
  • Disclaimer
  • Altcoins
  • Crypto Trading
  • Ethereum (ETH)
  • News
  • Press Release

Ethereum Hits 38.2% Fib Retracement, Targeting $2,050

Solomon Odunayo July 22, 2021 2 min read

After the $1,757 low and $2,031.41 high, ETH/USD closes its session at $1,949.00. The pair had suddenly surged on Wednesday, rising over the $2,031 level after multiple drops and trading in consolidation for over two weeks.


trade now

Musk Underpins ETH/USD at $1,735

ETH/USD pair witnessed the sudden price upticks on Wednesday. That came after Elon Musk, SpaceX and Tesla CEO, declared that he holds the largest altcoin in the B-word conference. Ethereum climbed to its highest market a week after such comments.  Such moves had ETH adding over 15% to its value yesterday.

Elon Musk showed his support for digital coins regardless of the potential environmental risks. He declared that Tesla plans to resume BTC transactions as long as Bitcoin mining involves renewable energy.

Also, the CEO said that his publicly traded stocks are in cryptocurrencies and Tesla. Musk stated that he holds, Ethereum, Dogecoin, and Bitcoin. He also said that he would lose his money if BTC drops in value. Musk has no intentions to sell even at higher prices since he wants BTC to prosper.

Bitcoin received strength as Musk announced that Tesla might accept BTC again as the mining activities shift towards using renewable power. As a result, the overall crypto market saw higher values. With the positive trend, ETH/USD increased in value on Wednesday, claiming its highest value in a week.

Ethereum saw value increase as Elon Musk declared that he holds the altcoin and will remain in his investment profile. Such moves coupled with the dollar weaknesses pushed ETH/USD pair higher.

ETH/USD Rides over $2,000 as Dollar Weakens

The United States Dollar index dropped to 92.76 zones. With that, Ethereum saw price gains as the two have a negative correlation. The US dollar weakness comes as Covid-19 cases rise and the worn risk-off market sentimentality.

ETH/USD Tech Levels

  • Support – 1,723.00, 1,660.91, and 1,602.34
  • Resistance – 1,843.66, 1,902.23, and 1,964.32
  • Pivot point – 1,781.57

Ethereum Daily Outlook

Ethereum trades in a bullish attitude around $2,023. The altcoin bounced off over the double bottom support area at $1,734. According to the ETH/USD’s price chart, the pair completed a 38.2% Fib retracement around the $1,988 mark. Meanwhile, a crossover at the area might push ETH to the following resistance at $2,150 and $2,390.

Trade Now

Continue Reading

Previous: These Digital Assets Could Explode in July Week 4
Next: Cathie Wood, Jack Dorsey and Elon Musk will Attend Upcoming Bitcoin Conference

Related Stories

ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase
2 min read
  • Blockchain
  • Cryptocurrency
  • Ethereum (ETH)
  • News
  • Price Analysis

ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase

May 25, 2022
Grayscale Is Planning On Listing Its First European Exchange Traded Fund
2 min read
  • Cryptocurrency
  • ETF (Exchange Traded Fund)
  • News

Grayscale Is Planning On Listing Its First European Exchange Traded Fund

May 25, 2022
Celsius Is Planning On Taking Its Crypto Mining Business Public
2 min read
  • Crypto Mining
  • Cryptocurrency
  • News

Celsius Is Planning On Taking Its Crypto Mining Business Public

May 25, 2022

Top 10 Crypto

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$29,675.00
-0.23%
ethereum
Ethereum (ETH)
$1,924.35
-2.72%
tether
Tether (USDT)
$1.00
-0.10%
binancecoin
BNB (BNB)
$320.32
-3.05%
usd-coin
USD Coin (USDC)
$1.00
-0.01%
ripple
XRP (XRP)
$0.398821
-2.21%
Binance USD
Binance USD (BUSD)
$1.00
-0.14%
cardano
Cardano (ADA)
$0.50
-2.43%
polkadot
Polkadot (DOT)
$9.72
-2.68%
dogecoin
Dogecoin (DOGE)
$0.081158
-2.38%

Recent Posts

  • ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase
  • CharterPrime Review – Is CharterPrime Scam or a Proper Broker?
  • Do Kwon Intends To Make Terra Classic By Forking LUNA Blockchain
  • Grayscale Is Planning On Listing Its First European Exchange Traded Fund
  • Celsius Is Planning On Taking Its Crypto Mining Business Public
  • Terra Team May Not Redeem Promised Refunds, Especially For Smallholders – Whistleblower
  • Coinbase Adds BNB Chain And Avalanche To Token Swap Service
  • Richardson Lewis Review – Is Richardson Lewis Scam or a Proper Broker?
  • PancakeSwap Guide 2022 – Everything You Need To Know About This DEX
  • Polkadot-based Smart Contract, T3rn Deploys Latest Testnet
  • Uruguayan Authorities Launch Campaign Against Crypto Scams
  • GameStop Announces The Launch Of A Crypto Wallet
  • Litecoin To Be Delisted Out Of Major Crypto Exchanges
  • Here’s Why Bitcoin’s Price Might Rise Above $30.6K
  • RBI Governor Reiterates Negative Stance On Crypto

Disclaimer

This website may have financial affiliations with some (not all) of the brands and companies mentioned on this website. Information found on Herald Sheets represents those of writers quoted. It does not represent the opinions of Herald Sheets on whether to buy, sell, or hold any investment assets. Investors must do their own research before investing their money and only do so at their own risk.

Categories

You may have missed

ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase
2 min read
  • Blockchain
  • Cryptocurrency
  • Ethereum (ETH)
  • News
  • Price Analysis

ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase

May 25, 2022
CharterPrime Review – Is CharterPrime Scam or a Proper Broker?
3 min read
  • Cryptocurrency Brokers News and Reviews

CharterPrime Review – Is CharterPrime Scam or a Proper Broker?

May 25, 2022
Do Kwon Intends To Make Terra Classic By Forking LUNA Blockchain
2 min read
  • Blockchain
  • Cryptocurrency
  • Terra (LUNA)

Do Kwon Intends To Make Terra Classic By Forking LUNA Blockchain

May 25, 2022
Grayscale Is Planning On Listing Its First European Exchange Traded Fund
2 min read
  • Cryptocurrency
  • ETF (Exchange Traded Fund)
  • News

Grayscale Is Planning On Listing Its First European Exchange Traded Fund

May 25, 2022
Copyright © All rights reserved. | DarkNews by AF themes.
  • RelevantRelevant(REL)$0.825.35%
  • TadpoleTadpole(TAD)$7.32-1.74%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184213-2.11%
  • SakeTokenSakeToken(SAKE)$0.0127135.28%
  • WTF TokenWTF Token(WTF)$0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)$0.005461-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%