Analyst: Ethereum Likely to Tag $2,000 in Near-Term as Rally Turns Parabolic

2021-1-26 00:00

Ethereum saw a meteoric rally yesterday that allowed it to post some massive gains, with bulls taking full control as they sent it to fresh all-time highs The crypto is still struggling to gain enough support to hold above its previous all-time highs of $1,450, with the selling pressure above this level being significant It is now seeing some consolidation just below this level as Bitcoin begins soaring higher There’s a strong possibility that Bitcoin’s strength will eventually create further tailwinds for ETH One analyst is noting that a daily close above $1,400 could position ETH for massive upside in the week to come, noting that he is watching $1,600 and $2,000 as near-term upside targets

Ethereum has been caught in a parabolic growth phase throughout the past few days, with the crypto rallying roughly 40% from its low of $1,080 that were set just a few days ago.

These lows came about last Thursday in tandem with the decline seen by the aggregated market, but the v-shaped recovery formed in the time since has been quite promising.

One analyst is now expecting Ethereum to see immensely further upside in the short-term, noting that he is closely watching for the crypto to see a move to $1,600 and $2,000 in the coming days and weeks.

Ethereum Consolidates Following Meteoric Rally

At the time of writing, Ethereum is trading up just under 2% at its current price of $1,410. This is around the price at which the crypto has been trading throughout the past day.

Yesterday afternoon, bulls took full control of ETH’s price action and sent it flying up to highs of $1,475 – which marked fresh all-time highs.

The selling pressure here proved to be quite intense and caused it to see a strong rejection that has since led to a consolidation phase.

The buying pressure around $1,400 and below it has been significant, which means that this consolidation could result in a breakout rally to new highs.

Analyst: ETH Could Be on the Cusp of a Move to $2,000+

One analyst believes that today’s daily close could send Ethereum soaring higher, assuming it can close above $1,400.

“ETH / USD: Looking insane if we can see a daily close above $1400, this is some major momentum we are seeing, especially with price breaking away from its BTC pairing and move alone. I think we see $1600 before end of the week, I also think that $2000 could be tagged soon.”

Image Courtesy of Cactus. Source: BTCUSD on TradingView.

The coming few days should shine a light on Ethereum’s outlook and clarify how Bitcoin’s ongoing bullish trend reversal will impact altcoins.

Featured image from Unsplash. Charts from TradingView.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3373.53 (-0.13%)
Объем 24H $27.035b
Изменеия 24h: -0.52 %, 7d: -12.92 %
Cегодня L: $3297.22 - H: $3393.89
Капитализация $406.36b Rank 2
Цена в час новости $ 1328.56 (153.92%)

all-time above rally highs ethereum support enough

Источник: newsbtc.com

all-time above → Результатов: 126


Bitcoin Expected to Hit $100k Between Q3 & Q4; $50k Looks Challenging in the Short-Term

Over the weekend, Bitcoin pushed its way to about $33,800.  It’s been a fortnight since the leading digital currency had a pullback and started ranging after its all-time high at $42,000. JPMorgan Chase’s strategists suggests Bitcoin bouncing back above the $40k level now faces a challenge because of the faltering demand for Grayscale Bitcoin Trust (GBTC).

2021-1-25 16:20


Фото:

The Last Time This Indicator Flashed, Bitcoin Dropped 38%; Now It’s Back

Bitcoin has been facing some turbulence as of late, with the cryptocurrency’s price action greatly favoring bulls Each dip has resulted in aggressive buying pressure that leads it to new all-time highs, with the ongoing bull market turning into a full parabolic ascent The crypto is fast approaching $30,000, with this being a key level that could prove to be a major hurdle for the crypto to break above One analyst spoke about BTC’s outlook, […]

2021-1-2 21:00


Фото:

Analyst Claims Bitcoin is Poised for a Plunge to $20,000 as Rally Slows

Bitcoin saw a massive rally yesterday evening that allowed it to set fresh all-time highs above $29,000 The cryptocurrency did meet some serious selling pressure here that slowed its ascent and caused it to decline back down towards $28,000 It does appear to be finding some support here, but it remains unclear as to how long it will last for One analyst spoke about this in a recent tweet, noting that he is preparing for […]

2021-1-1 21:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ethereum Price Takes a Plunge: Can Bulls Step In?

Ethereum price extended losses and dropped below the $3,680 zone. ETH is down over 7% and is showing bearish signs below the $3,550 level. Ethereum started a fresh decline below the $3,680 zone. The price is trading below $3,550 and the 100-hourly Simple Moving Average.

Ethereum Price Falls 5%: Correction or Start of a Bigger Slide?

Ethereum price started a sharp decline below the $3,880 zone. ETH is down over 5% and is showing bearish signs below the $3,680 level. Ethereum started a fresh decline below the $3,800 zone. The price is trading below $3,680 and the 100-hourly Simple Moving Average.

Ethereum Forming A Symmetrical Pattern – Key Resistance At $4,100

Ethereum is making another attempt to break above the $4,000 level as it edges closer to its all-time highs. Despite its strong fundamentals, doubts linger in the market regarding Ethereum’s performance this cycle, with some expecting it to underperform amid stiff competition from other blockchain ecosystems.