Here’s the Key Level Analysts Are Eyeing After Ethereum Surged 25% From Low

2020-9-13 10:00

Earlier this week, Ethereum plunged as low as $310-315 as legacy markets tumbled, dragging crypto lower. The cryptocurrency has since undergone an extremely strong bounce, recovering 25% to the $389 level where ETH sits at now.

Analysts are eyeing $392 as a level for the cryptocurrency. One says that if that level is confirmed as support, it will give credence to the sentiment that Ethereum will push back above $400.

Related Reading: Here’s Why This Crypto CEO Thinks BTC Soon Hits $15,000 Ethereum Needs to Cross This Level to Confirm More Upside

A leading cryptocurrency analyst thinks that if Ethereum crosses $392 in its ongoing recovery from the weekly lows, it will be primed to see even more upside.

He shared the chart below, which shows that $392 is a pivotal price level from an order book perspective. ETH crossing above that level and confirming it as support should trigger a move towards $441, the chart suggests:

“On $ETH $392 is key level, but I never fade v-shape reversals anyway. On a more macro scale I’m watching $441 as second drive retest at HVN ledge. ngl im bit sad that my $255 bids didn’t get filled.”

Chart of ETH's price action over the past few weeks with analysis by crypto trader "Adam" (@Abetrade on Twitter). Related Reading: This European Crypto Exchange Was Just Hacked for $5 Million Long-Term Fundamentals Remain Bullish

Ethereum’s fundamentals remain bullish despite what happens in the short term with the asset’s price action.

Prysmatic Labs’ Raul Jordan, who has been working on the ETH2 upgrade, recently stated on the imminence of the upgrade:

“We can likely perform a feature freeze by mid October, allowing us to only work on security improvements and UX before going live. If all goes well, November is still looking good for a launch from our perspective.”

Analysts expect the upgrade to be a massive step forward in Ethereum’s usability, which in turn, should boost ETH’s value.

In the longer run, analysts think that decentralized finance will become a driving force in allowing ETH to accrue value. Chris Burniske of Placeholder Capital recently said, for instance:

“Meanwhile, to the mainstream $ETH will be the new kid on the block — expect a frenzy to go with that realization. Given $ETH’s outperformance of $BTC over its lifetime (chart below again), not to mention smaller network value and strong on-chain economies, I see every reason for $ETHBTC to surpass ATHs.”

Burniske thinks that DeFi will be a key factor in driving Ethereum to a $1 trillion market capitalization in the ongoing market cycle.

Related Reading: CNBC’s “Mad Money” Host Jim Cramer Is Finally Buying Bitcoin Photo by Stanciu Valentin on Unsplash Price tags: ethusd, ethbtc Charts from TradingView.com Here's the Key Level Analysts Are Eyeing After Ethereum Surged 25% From Low

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3108.72 (+0.33%)
Объем 24H $14.373b
Изменеия 24h: 5.54 %, 7d: 6.51 %
Cегодня L: $3088.33 - H: $3108.72
Капитализация $373.427b Rank 2
Цена в час новости $ 368.61 (743.36%)

low level ethereum extremely undergone cryptocurrency bounce

Источник: newsbtc.com

low level → Результатов: 126


Фото:

Bitcoin is Conducting a “Bullish Retest” as It Hits Critical Support Level

Bitcoin is ardently attempting to hold above $10,000, as this crucial psychological support level has been broken and reclaimed on multiple occasions throughout the past several hours. Earlier today, the cryptocurrency showed some significant signs of weakness as it pushed below this level, with bears sending it as low as $9,900 before it saw a […]

2020-9-7 19:00


Фото:

Ethereum Struggles to Reclaim $400, But Bulls May Be Building Up Strength

Ethereum has seen some mixed price action throughout the past 24-hours Despite diving as low as $375 at one point yesterday, the cryptocurrency was able to post a massive rebound that allowed it to climb back up towards $400 It has been consolidating ever since, being unable to firmly surmount this level – signaling that there is some resistance here One trader is noting that although it has shown some signs of weakness, it still […]

2020-9-5 23:00


Фото:

Bitcoin Price Experiences Another Disastrous Fall, Risks Plunging Below $10k If This Happens

Bitcoin crashed with more than $1000 hitting a low point of $10,282 before rebounding above $10,436 to record the lowest price level seen in weeks. The crash comes after BTC’s breach of the $11500 resistance to rising above $11982, but $12k remains unachieved, even with many analysts forecasting that Bitcoin price would go as high […]

2020-9-4 11:58


Фото:

Bitcoin Could See a “Glorious” Bounce Once it Taps This Crucial Level

Bitcoin saw some immense turbulence overnight that caused its price to slide as low as $11,500 This dip was quickly absorbed by buyers, who have since allowed it to reclaim its support at $11,600 The cryptocurrency is now once again consolidating as it hovers within its previous trading range between $11,600 and $12,000 This stability has allowed altcoins to recoup some of their recent losses Analysts are now noting that BTC could be well-positioned to […]

2020-8-22 19:00


Ethereum is at Risk of Losing a Crucial Level Following Yesterday’s Selloff

Ethereum has been closely tracking Bitcoin’s price action in recent weeks, which caused it to see some intense bearishness yesterday The cryptocurrency’s price dove as low as $367 once the selling pressure began peaking From this point, it saw a strong rebound that allowed it to recapture that vast majority of these losses It now appears to be well-positioned to see slightly further near-term upside One analyst believes that this latest dip did put ETH […]

2020-8-13 23:00


VeChain (VET) Treads Water Awaiting Next Big Move

VeChain (VET) has been one of the best performing cryptocurrencies since hitting an all-time low in March. The VET/USD pair increased by 1,500% in the three months that followed. However, failure to reach a close above an important long-term resistance level has lead to the possibility that the upward move has ended and the price […] The post VeChain (VET) Treads Water Awaiting Next Big Move appeared first on BeInCrypto.

2020-8-4 14:30


Crypto Market is ‘Extremely Greedy’ for the First Time in 2020

Before bitcoin started up-trending last week, its volatility fell below 25%, a level rarely seen in BTC’s history, which had the market expecting a big move. Coin Metrics notes, “Prolonged periods of low levels of volatility encourage market participants to take on greater position sizes, engage in increased leverage, set tighter stops, and reduce the […]

2020-7-28 20:18


Here’s How Low Bitcoin May Drop Before It Can Rally Even Higher

To the surprise of some investors, Bitcoin has been able to find some relative stability above $9,500 The cryptocurrency has now been trading above this level for over a day, and bears have not been able to catalyze any type of sharp selloff It now appears that BTC may need to see a pullback before it can push any higher, as buyers seem to be losing their momentum One analyst is closely watching one crucial […]

2020-7-25 21:00


Фото:

Ethereum Could Set a “Lower Low” if It Breaks Beneath This Crucial Level

Ethereum is now showing some signs of underlying weakness despite seeing some strong price action over the past few days After hovering within the upper region of its long-established trading range, the slight downwards movement seen by Bitcoin and the aggregated market has forced it lower It hasn’t declined beneath any crucial support levels yet, but several sit just below where it is currently trading at One analyst is noting that its closest support is […]

2020-7-11 23:00


Bitcoin Volatility Reaches Low Set Ahead Of April 2019 Rally, Will History Repeat?

Bitcoin has been uncharacteristically stagnant for over two full months now. The trading range has been tightening, which has led to record low levels of volatility in the otherwise volatile asset. But the low volatility taking place currently has reached a level that kicked off an explosive uptrend in April 2019. Will the leading cryptocurrency […]

2020-7-9 23:00


Фото:

A Bitcoin Breakout could Carry BTC to a Crucial Resistance Level

The Bitcoin price has been gradually increasing since it reached a low of $8,910 on June 15. It is currently trading inside a symmetrical triangle, out of which a breakout is expected. After creating a bullish hammer with significant volume on June 15, the Bitcoin price has created another bullish candlestick, albeit much smaller and […] The post A Bitcoin Breakout could Carry BTC to a Crucial Resistance Level appeared first on BeInCrypto.

2020-6-18 14:35


Фото:

Bitcoin’s Break Below a Key Level has Opened the Gates for a Move to $5,900

Following an extended bout of sideways trading within the $9,000 region, Bitcoin has now firmly broke below this range as it trades around $8,800 Although the crypto has ardently defended its near-term support, its technical outlook does appear to be rapidly degrading Some analysts are even noting that its latest breakdown has opened the gates for it to see a movement that leads it as low as $5,900 in the weeks and months ahead Bitcoin […]

2020-5-26 02:00


Фото:

Bitcoin at Risk of Seeing Major Downside as Buying Pressure Evaporates

Bitcoin has seen some intense selling pressure today following a bearish resolution to its long-held bout of sideways trading The cryptocurrency is now at risk of seeing further selling pressure as it struggles to defend a key support level Analysts are noting that it may decline as low as $8,500 in the hours and days ahead as it struggles to maintain its multi-week uptrend Bitcoin is now trading right above its key support level at […]

2020-5-24 19:00


Bitcoin Crossing $9,500 Could Lead to a “Major Spike”: Analyst Explains Why

Since falling as low as $8,180 on Monday, the day of the halving, Bitcoin has mounted a strong comeback that culminated in a move to $8,900 on Wednesday morning. Although this near 10% bounce from the lows has been impressive, traders believe that BTC could undergo a “major spike” should the ever-important $9,500 level be taken as support by bulls.

2020-5-13 15:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

SOL Price Breaks $150 – Why Solana Could Soon Test $180

Solana is gaining bullish momentum above $150. SOL price is showing positive signs, and it could even surpass the $162 resistance in the near term. SOL price started a fresh increase from the $138 support against the US Dollar.