As Long as Ethereum Holds $350 Range, It’s Set to Double: Analyst

As Long as Ethereum Holds $350 Range, It’s Set to Double: Analyst
фото показано с : bitcoinist.com

2020-10-13 14:59

Ethereum has undergone a strong drop since the August highs of $490. The coin currently trades for $380, far below the aforementioned highs. Despite the strong correction, analysts are optimistic that the long-term trend remains bullish. One crypto-asset analyst noted that as long as Ethereum holds the $350 region, it could move towards $700 in the long term. The chart suggests that the prices in the vicinity of $350 are of macro importance. Namely, in the middle of 2018, the leading cryptocurrency reached those lows, then bounced. And in 2017, $350 acted as a launching point for the bull trend that brought it to $1,400. Ethereum Must Hold Current Range to Remain Macro Bullish

If Ethereum holds prices around $350 as support on a macro time frame, Ethereum is set to explode higher towards $700 over time, analysts say.

One crypto-asset trader recently shared the chart below.

It shows that over the past two years, the $350 region has been pivotal for ETH. In 2017, it acted as a launchpad for the rally to $1,400. Also, in the middle of 2018, this region acted as a point at which Bitcoin underwent a dead cat bounce.

Chart of ETH's price action over the past few years with a Renko candle analysis by crypto trader Cold Blooded Shiller (ColdBloodShill on Twitter). Chart from TradingView.com Ethereum Hash Rate Sets All-Time High

Supportive of ETH growth is the hash rate of the Ethereum network.

As reported by Bitcoinist previously, the hash rate of the Ethereum network recently hit an all-time high above 250 terrahashes per second. This is a reading slightly above the all-time highs seen in the middle of 2018, when the metric tapped 250 terrahashes, then declined dramatically as prices dropped.

Chart of ETH's hash rate since the start of Janaury 2017 from CoinMetrics, shared by CoinMetrics. Unit on the left is terrahashes per second.

Building off the growth in Ethereum’s security are on-chain scaling solutions, which benefit from the increase in hash rate. Leading developers in the space are announcing second-layer solutions such as testnets built on ZK Rollups and Optimistic Rollups.

Analysts are optimistic that these technologies will dramatically increase Ethereum’s utility, driving prices higher.

Featured Image from Shutterstock Price tags: ethusd, ethbtc Charts from TradingView.com As Long as Ethereum Holds $350 Range, It's Set to Double: Analyst

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3367.18 (+0.19%)
Объем 24H $35.892b
Изменеия 24h: 0.65 %, 7d: 7.78 %
Cегодня L: $3289.45 - H: $3397.43
Капитализация $405.509b Rank 2
Цена в час новости $ 379.23 (787.9%)

highs ethereum below trades far 380 aforementioned

Источник: bitcoinist.com

highs ethereum → Результатов: 126


Фото:

Why Surging Options Volume Can Put an End to Ethereum’s Epic Rally

Ethereum posted an intense breakout rally yesterday that allowed it to set fresh local highs This rally came about rather suddenly, with it coming about prior to any movement seen by Bitcoin or the aggregated crypto market Analysts are now noting that this uptrend may start to falter in the days ahead, as it is currently repeating a pattern that is strikingly similar to that seen in months past This potential weakness comes as Ethereum’s […]

2020-6-1 22:00


Active Ethereum Wallet Count Has Grown 350% Since 2018; What This Indicates

Ethereum’s price action has been incredibly week in the time following its parabolic movement to highs of $290 in February. It appears that there has been a divergence between the cryptocurrency’s technical outlook and fundamental strength, however, as a key data metric suggests that ETH has built immense underlying strength over the past couple of...

2020-5-26 00:00


Ethereum’s Macro Technical Structure Signals It Could Rally to $750 in Months Ahead

Ethereum’s immense weakness in recent times may not last for too much longer, as one technical structure suggests the cryptocurrency could be poised to rally higher One analyst is even noting that the crypto could surge up to highs of $750 if this structure plays out This comes as data shows that investors on cryptocurrency exchange platform Bitfinex may have been heavily accumulating ETH throughout the past several months Ethereum’s immense weakness seen throughout the […]

2020-5-19 02:00


Фото:

Here’s why Ethereum’s “hodlers” could ultimately fuel an explosive uptrend

Ethereum has seen notable volatility in recent times, primarily stemming from that seen by Bitcoin and many of its other peers. This has allowed the ETH to rally to fresh post-February highs of $230 overnight, although its push up to this level proved to be highly unsustainable and resulted in it declining back into the […] The post Here’s why Ethereum’s “hodlers” could ultimately fuel an explosive uptrend appeared first on CryptoSlate.

2020-5-1 10:00


Фото:

Ethereum Bulls in Serious Trouble as Fractal Forecasts Lower Lows

Ethereum saw a massive rejection from its overnight highs that led it to reel lower today, erasing part of the gains that were incurred during yesterday’s uptrend This has caused the crypto to flash signs of technical weakness, especially while looking towards its Bitcoin trading pair One analyst is also pointing to an extremely bearish XRP fractal pattern that ETH has been closely tracking as a potential reason why lower lows are imminent Ethereum incurred […]

2020-5-1 23:00


Фото:

Ethereum’s Aggressive Bids are Dissolving as Buyers Grow Weak

Ethereum has seen a slight rejection from its recent highs in the time following its decline from just below $200 Analysts are noting that there are multiple separate technical factors that point to an imminent breakdown One such factor is a major decline seen in the cryptocurrency’s buying pressure, which has been dissolving throughout the past several days and weeks Ethereum has been closely tracking the price action seen by Bitcoin in recent times. This […]

2020-4-28 23:00


After 90% crash, Ethereum just printed a major cycle bottom: fund manager

Believe it or not, there was a time when a single Ethereum traded for over 0.10 BTC, meaning that you could sell a mere handful of the altcoin and obtain a whole Bitcoin as a result. However, it’s a whole different story today; since the highs set at the peak of 2018’s bubble, altcoins have […] The post After 90% crash, Ethereum just printed a major cycle bottom: fund manager appeared first on CryptoSlate.

2020-4-27 16:00


Фото:

This “Golden Pocket” Could Wipeout Ethereum’s Momentum

Ethereum is rapidly approaching its local highs as bulls begin garnering significant strength There is one “golden pocket” resistance level that could spark a major selloff if ETH is rejected here Some top traders are still noting that they expect this uptrend to extend significantly further The intense uptrend Ethereum incurred yesterday was able to further extend overnight, with the cryptocurrency pushing will into the mid-$180 region as its buyers make a bid at revisiting […]

2020-4-24 23:00


Фото:

This Macro Trend Signals Ethereum Will Soon Reach $40, Notes Analyst

Ethereum has seen all of its recent upswings grow weaker throughout the past several months Underlying weakness amongst ETH buyers could be enough to lead the cryptocurrency to as low as $40-50 by the end of 2021 Ethereum, like Bitcoin and most other cryptocurrencies today, has further extended the downwards momentum that was first sparked yesterday when the crypto lost its recent momentum and declined from highs of $190. This current weakness appears to be […]

2020-4-21 23:00


Ethereum price plummets despite strong network activity growth

Ethereum’s intense uptrend seen throughout 2020 reached a boiling point in early-February, with ETH’s break above $200 allowing it to incur parabolic momentum that led it to highs of $290. Although the crypto has retraced from these highs, its mid-term market structure still remains firmly bullish, and many analysts are now noting that this will […] The post Ethereum price plummets despite strong network activity growth appeared first on CryptoSlate.

2020-2-20 09:00


$360: Ethereum to See Further 60% Rally After Breaking Key Resistance

Ethereum has been one of the best performing major cryptocurrencies throughout 2020, with ETH posting a massive rally that sent it from yearly lows of $120 to highs of just under $230. This intense uptrend has allowed the crypto to form a highly bullish market structure, and its ability to hold above $225 over the... The post appeared first on NewsBTC.

2020-2-10 01:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ethereum Bullish Signal: Adoption Hits Four-Month High Rate

On-chain data shows the Ethereum adoption rate has hit a four-month high, which could be bullish for the cryptocurrency’s price. Ethereum Network Growth Has Shot Up Recently According to data from the on-chain analytics firm Santiment, the ETH blockchain has recently created many wallets.

Ethereum Rockets Forward With 3.3% Network Growth While Bitcoin Goes Stale

On-chain data shows Ethereum has notably outpaced Bitcoin in terms of adoption during the last three months, a sign that could be positive for ETH. Ethereum Has Seen Its Holder Count Go Up By 3.3% In Last Three Months According to data from the on-chain analytics firm Santiment, Ethereum has continued to separate itself from […]

Ethereum Bullish Signal: Whales Show $530 Million Buying Spree

On-chain data shows the Ethereum whales have recently gone on a significant accumulation spree, a sign that could be bullish for ETH’s price. Ethereum Whales Have Added 200,000 ETH To Their Holdings Recently As explained by analyst Ali Martinez in a new post on X, the ETH whales have gone on a buying spree recently. […]