Analyst: Ethereum to Rally 20%+ Against BTC as Market Goes Parabolic

Analyst: Ethereum to Rally 20%+ Against BTC as Market Goes Parabolic
фото показано с : newsbtc.com

2020-12-18 00:00

Ethereum has been trailing slightly behind Bitcoin and the rest of the crypto market as of late, which comes as all eyes shift to watch BTC’s price action Although it has lagged behind it, ETH is still showing some immense signs of strength as it pushes towards $700, with analysts widely watching for it to see further upside Most altcoins are currently trailing behind the gains seen by Bitcoin, which is a fairly standard occurrence within parabolic BTC bull markets As seen last night when Bitcoin faced a rejection at $23,700, ETH’s price rocketed by nearly 8% This seems to be emblematic of a capital rotation even out of Bitcoin and into altcoins

Bitcoin has been caught within the throes of an intense bull trend over the past few days, which has positively impacted Ethereum and most other altcoins.

Ethereum’s price action has been growing increasingly bullish as Bitcoin continues producing strong tailwinds.

There’s a strong possibility that once BTC’s uptrend stalls and it sees some consolidation, investors will rapidly rotate capital into ETH and other altcoins to outperform the benchmark crypto.

One analyst believes that this will happen in the coming days, potentially allowing ETH to gain 20%+ against Bitcoin.

Ethereum Shows Signs of Strength as Market-Wide Rally Kicks Off

At the time of writing, Ethereum is trading up just over 4% at its current price of $665. This is around the price at which it has been trading throughout the morning, facing some resistance just above its current price.

Where it trends in the mid-term may depend largely on Bitcoin, which has been guiding the entire market.

However, BTC’s rejection at $23,700 last night actually helped send Ethereum rocketing higher, which may mean that Bitcoin dips will prove to be beneficial for altcoins.

Analyst: ETH Likely to See a Parabolic Upswing

One trader pointed to Ethereum’s Bitcoin trading pair, explaining that it is now poised to see some serious upside.

He specifically notes that it should rise by 20% or more by the end of the week.

“I think that was a capitulation low on eth/btc, $eth parabola soon and should be +20% by end of week.”

Image Courtesy of SmartContracter. Source: ETHBTC on TradingView.

The coming few days should shine some serious light on where Ethereum and the entire market will trend in the coming weeks.

Featured image from Unsplash. Charts from TradingView.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 69427.55 (+0.14%)
Объем 24H $45.871b
Изменеия 24h: 2.63 %, 7d: -4.43 %
Cегодня L: $69039.59 - H: $69761.69
Капитализация $1373.154b Rank 1
Цена в час новости $ 22714.42 (205.65%)

market behind btc ethereum immense showing eth

Источник: newsbtc.com

market behind → Результатов: 126


Фото:

9 Best Ripple (XRP) Wallets 2021 (iOS, Android, Hardware, Desktop)

The digital currencies are getting popularity day by day, and the reason behind their popularity is the increase in the price. Ripple (XRP) is currently the third highest cryptocurrency in the market by market cap, and even though, the price action was negative in the last two years, XRP holders still firmly believe that their tokens will “moon […] The post 9 Best Ripple (XRP) Wallets 2021 (iOS, Android, Hardware, Desktop) appeared first on CaptainAltcoin.

2020-12-11 18:50


A “TD9” Sell Indicator Triggers For XRP After 6 Weeks of Stagnance

XRP continues to lag behind the rest of the market after a short-lived glimmer of hope brought prices to current levels in late July. And while crypto analysts expect the fourth-ranked cryptocurrency to outperform Bitcoin and Ethereum eventually, a sell setup has triggered on daily timeframes that could send Ripple ripping lower. TD 9 Sell […]

2020-10-13 00:00


CorionX Teams Up with Syscoin to Push Stablecoin Adoption

Coinspeaker CorionX Teams Up with Syscoin to Push Stablecoin AdoptionThe Corion Foundation, the non-profit behind CorionX, a platform that looks to usher in the next wave of adoption for stablecoins, central bank digital currencies (CBDCs), and decentralized finance (DeFi), has now teamed up with the Syscoin Foundation to help address market interoperability issues and drive stablecoin adoption.

2020-10-8 16:20


Фото:

Bitcoin to Hit Critical Support Level as Analysts Eye Drop to CME Gap

Bitcoin’s price is currently plunging, with the growing sell-side pressure coming from a combination of technical uncertainty, weakness in the stock market, and strength in the US Dollar BTC’s recent inability to break above $11,000 may also be one factor behind this recent turbulence, as it elucidated underlying weakness amongst bulls One trader, in particular, is now noting that he is expecting the crypto to see some serious near-term downside He is setting his sights […]

2020-9-23 02:00


Фото:

Prominent Crypto Investor On Why He’s Dumping All His XRP Holdings: It’s ‘A Confirmed Scam’

A Ripple fanatic by the online alias Crypto Bitlord has allegedly sold all his XRP coins. For all intents and purposes, the crypto investor claims the cryptocurrency is a confirmed scam. XRP’s History Of Controversies  XRP is a cryptocurrency that was created to reduce friction in the cross-border settlements market. Ripple, the company behind XRP, […]

2020-9-18 21:17


Фото:

Polkadot (DOT) Surges Into Crypto Top Ten, What’s Behind the Hype?

There is a new kid on the crypto block as Polkadot (DOT) surges into the top ten in market capitalization on some analytics providers, but strangely not on others. It has been touted as the latest ‘Ethereum killer’ but will it live up to that lofty ambition? Today’s hype on crypto twitter is all about […] The post Polkadot (DOT) Surges Into Crypto Top Ten, What’s Behind the Hype? appeared first on BeInCrypto.

2020-8-27 17:37


How Financial Information eXchange Can FIX the Crypto Market

Although crypto is undoubtedly innovative in nature, the majority of crypto exchanges are dragging behind, unable to fully realize the great possibilities of modern trading protocols. Many crypto exchanges are run digitally, yet are not all using the right protocols, causing systems and platforms to lag, offering slower fill times, higher latency, and more bottlenecks. […]

2020-8-3 11:28


A Major Source of Bitcoin Selling Pressure Just Disappeared, Boosting the Bull Case

The PlusToken Ponzi Scheme has long been a thorn in the side of the crypto market It now appears that the ring leaders behind the now-defunct scheme have all been arrested, meaning that they won’t be able to offload their massive crypto holdings Many analysts have pinned major selloffs in previous months on token sales coming from this source Now that this isn’t a factor, the crypto markets may be able to rally with greater […]

2020-7-31 02:00


It Happened With Bitcoin And Now It’s Happening With Stocks

Yesterday, the stock market made a muted start, but the tech stocks rallied. All the FAANGM stocks were in the green, led by Amazon and Tesla. There are two factors behind the rally: the unprecedented stimulus efforts by governments and central bankers and “an overzealous crowd of new traders who are intentionally refuting traditional valuation […]

2020-7-22 22:24


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 Tumbles: Will It Find a Way Back Up?

Ethereum price started a fresh decline from the $2,720 resistance. ETH is back below $2,550 and might struggle to start a fresh increase in the short term. Ethereum started a fresh decline from the $2,720 resistance zone.