Ethereum Could See an Explosive Move Higher Following Massive 20% Surge

Ethereum Could See an Explosive Move Higher Following Massive 20% Surge
фото показано с : newsbtc.com

2021-1-23 00:00

Ethereum has been trading as a higher beta asset to Bitcoin as of late, closely tracking the benchmark crypto but seeing more drastic movements Last night’s Bitcoin selloff proved to be somewhat dire for ETH, with it sending the cryptocurrency down to lows of $1,040 This decline marks a 30% retrace from ETH’s recent highs of $1,450 that were set just a few days back In the time since these lows were set, however, Ethereum has posted a strong v-shaped recovery that could mark a macro bottom One trader spoke about its performance in a recent tweet, noting that its strength against Bitcoin also indicates that upside is imminent

Ethereum has seen some turbulent price action throughout the past few days and weeks, with the selling pressure around its all-time highs of $1,450 sparking an intense downtrend that was magnified by Bitcoin’s weakness.

This selloff turned into capitulation yesterday evening, and the crypto has been climbing higher ever since it saw a sharp pullback to lows of $1,040

One analyst is now optimistic on ETH, noting that the cryptocurrency’s strength against both Bitcoin and its USD pair suggests it could soon see some massive upside.

Ethereum Forms Classic “V-Shaped” Recovery 

At the time of writing, Ethereum is trading up over 20% from its overnight lows at its current price of $1,230.

The massive recovery it has seen has also allowed it to outperform Bitcoin, which is also up significantly from its recent lows.

ETH’s strong rebound may suggest that investors are keener on buying its dips because it has yet to break its all-time highs and see price discovery.

Analyst: ETH’s Rebound Suggests Massive Upside is Imminent

One analyst explained in a recent tweet that Ethereum’s rebound against its Bitcoin pair and USD pair suggests that it could soon see a “proper” rally.

This could mean that another test of its all-time highs is imminent, but this time the crypto may be able to shatter the resistance that exists here.

“ETH against BTC looks very good for continuation and a proper rally. Expecting large inefficient move on ETH if BTC shows some strength / dead-cat bounce today.”

Image Courtesy of Livercoin. Source: ETHUSD/ETHBTC on TradingView.

The coming few days should shine some light on Ethereum’s outlook, as an extension of this current momentum could lead to further upside in the days and weeks ahead.

Featured image from Unsplash. Charts from TradingView.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3101.8 (+0.07%)
Объем 24H $14.364b
Изменеия 24h: 5.31 %, 7d: 6.33 %
Cегодня L: $3088.33 - H: $3101.84
Капитализация $372.595b Rank 2
Цена в час новости $ 1233.35 (151.49%)

higher eth bitcoin ethereum dire selloff proved

Источник: newsbtc.com

higher eth → Результатов: 126


Фото:

Bitcoin is Nearing Key Resistance as Market Posts Massive Rebound

Bitcoin has seen some immense volatility as of late, with bulls reversing its recent losses entirely overnight as they regain control of the crypto This price action confirms that the latest selloff was one that is quite common during bull markets when the crypto retraces 30-40% before continuing its ascent BTC’s strength is creating tailwinds for the entire market, as ETH and most other major altcoins have also surged higher One trader is now noting […]

2021-1-14 21:00


Фото:

Analyst: Ethereum Forming Extremely Bullish Pattern as Bulls Target New Highs

Ethereum and the entire crypto market is consolidating today following some recent turbulence Bulls stepped up after the entire market saw a massive selloff yesterday and absorbed the influx of selling pressure, allowing BTC to rocket past $40,000 and ETH to move higher Today, the market has consolidated and drifted slightly lower, although bulls still […]

2021-1-9 01:38


Ethereum “Anti-Network Effect” Shows “DeFi Has Outgrown” The Altcoin

Ethereum broke out over the weekend and looks primed to follow in Bitcoin’s footsteps by shattering its former all-time high and soaring far higher. But while Bitcoin prices climb, there has been minimal impact on the underlying network, nor has there been a sizable increase in fees that characterized the 2017 peak. Meanwhile, ETH gas […]

2021-1-5 23:00


Фото:

Why the Bitcoin Correction Everyone is Waiting for May Take Some Time

Bitcoin has navigated higher following a brief period of immense weakness yesterday, with the cryptocurrency now pushing above the $23,000 region once again Where the entire market trends in the mid-term should depend largely on where ETH and BTC trend next, as they both have been holding firm guidance over altcoins Many investors and analysts have voiced the opinion that Bitcoin will see a strong and swift correction down towards the $19,000 region at some […]

2020-12-23 21:00


Ethereum has Reached a Key Demand Zone as Analysts Eye Parabolic Move

Ethereum’s price has reached a key demand zone following an extended period of weakness against Bitcoin This demand zone is so far proving to be a strong support level for the cryptocurrency, but it still has a long way to go before it can gain any significant ground against Bitcoin One trader is now noting that it is only a matter of time before ETH’s price rockets higher He points to the strength of its […]

2020-12-21 01:00


Фото:

Parabola Imminent: Ethereum’s Accumulation Range was Bigger Than BTC’s

Ethereum is rapidly approaching the crucial $600 level that has long been a pivotal point for its various trends This level has held strong on multiple occasions as resistance, which would make any break above it technically significant One trader is now noting that a serious move higher could be imminent for Eth in the near-term He points to a macro accumulation range that Ethereum is just starting to exit, noting that it was within […]

2020-12-14 01:00


Фото:

This Key Ethereum Level Needs to Be Flipped to Support Before ETH Can Rally

Ethereum has been facing some intense consolidation throughout the past few days and weeks The cryptocurrency’s price action has done little to offer investors with insights into where it may trend in the near-term It has been closely tracking Bitcoin’s price action, which makes its fate at least somewhat dependent on that of the benchmark cryptocurrency One trader is now noting that a move higher could be imminent, but this possibility is premised upon it […]

2020-12-12 23:00


Фото:

Ethereum is a Hot Topic Following 2.0 Launch; Will This Boost Its Uptrend?

Ethereum and the entire crypto market have pushed higher overnight, which comes as Bitcoin gears up for another test of its all-time highs This push higher has allowed ETH to gain what appears to be a strong foothold within the lower-$600 region Any rejection or downturn seen by Bitcoin, however, could cause Ethereum’s price to plunge in tandem and once again lose this coveted level Data regarding the sentiment and social activity surrounding ETH seems […]

2020-12-4 00:00


Фото:

Ethereum Could Target $700 Next If Bulls Break This Crucial Resistance

Ethereum has been closely tracking Bitcoin’s price action as of late, which has caused it to see some large volatility Bulls have been trying to secure ETH a stable position above $600, but the selling pressure here has been quite intense Until Bitcoin flips $19,000 into a support level and begins pushing higher, ETH could see some further consolidation One trader is now noting that a strong daily close above $600 could be all that […]

2020-12-3 23:00


Ethereum Price Retreats to $600 Despite Imminent ETH 2.0 Rollout

Ethereum has witnessed some intense selling pressure following its latest push higher, with bulls trying to defend $600 as bears aim at pushing it below this level The selling pressure here has proven to be quite intense throughout the past few days, but bulls have been able to absorb all of it and continue pushing it higher Where the rest of the market trends in the near-term will depend largely on the $600 level and […]

2020-11-25 23:00


Фото:

Ethereum Could Target $850 Once It Breaks Key Resistance, Claims Analyst

Ethereum has flashed signs of immense strength despite a fleeting overnight selloff This recent decline came about in tandem with that seen by the rest of the crypto market Bitcoin plunged below $18,000 before posting a “V-shaped” recovery and rallying significantly higher This recovery also helped lead ETH higher, with the cryptocurrency rapidly navigating back up to where it has been trading throughout the past couple of days Its recent strength and unwavering uptrend indicate […]

2020-11-23 01:00


Фото:

Analysts Still Expect Ethereum Rally to $500 Despite $40 Flash Drop

Analysts think that Ethereum is primed to press higher despite last night’s $40 drop. One analyst noted that Ethereum remains in an extremely advantageous position on a macro time frame. He shared a chart showing that ETH is currently sitting above macro supports, meaning it has room to stretch toward $800 and beyond as it continues to hold those technical levels.

2020-11-19 15:00


Фото:

Ethereum Could Be in a Precarious Position as Buyers Fail to Break Key Level

Ethereum has been underperforming Bitcoin throughout the past couple of days, drifting lower while the benchmark crypto nears its 2020 highs Higher risk assets like ETH may be seeing tempered price action because investors fear the sustainability of BTC’s latest push higher If it can stabilize and see a continued bout of sideways trading, then assets like Ethereum may be able to push significantly higher One trader is noting that until $460 is flipped back […]

2020-11-16 23:00


Фото:

Legendary Trader Calls DeFi Bullish, Claims Ethereum Could Soon Rally

The DeFi sector has been screaming higher throughout the past couple of weeks, with the ongoing stability seen by Bitcoin boosting its price action Ethereum, which remains the backbone of this sector, has also been stable, closely tracking BTC as of late If ETH can push higher in the near-term, it could create further tailwinds that bolster the DeFi sector and help the tokens within it see further gains He specifically notes that ETH could […]

2020-11-16 22:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru