Ethereum Approaches Key Resistance; Break Above Could Spark Move to $650

Ethereum Approaches Key Resistance; Break Above Could Spark Move to $650
ôîòî ïîêàçàíî ñ : newsbtc.com

2020-9-15 00:00

Ethereum has seen a strong rebound from its recent lows today, with its ongoing upswing coming about in tandem with the immense technical strength seen by Bitcoin.

The aggregated cryptocurrency market is trending higher today, which is partially being driven by Bitcoin’s strong weekly candle close and the ongoing upswing seen in the stock market.

Despite Ethereum rebounding from daily lows of $350 that were set at the bottom of yesterday’s selloff, it is important to note that the crypto has yet to break above its key $380 resistance level.

One analyst is also noting that the slight weakness it saw towards the upper boundary of its cloud – which has seen been surmounted – is also a sign that the digital asset may be moving higher on tempered buying pressure.

That being said, if the market-wide strength seen today extends further and creates a tailwind for Ethereum, there’s a chance that it may be able to reclaim one crucial level that could spark its next intense uptrend.

Ethereum Shows Signs of Strength Following Dip to $350

At the time of writing, Ethereum is trading up just under 3% at its current price of $375. This marks a notable climb from its daily lows of $352 that were set at the bottom of yesterday’s intense selloff.

It appears that this selloff came about following a trend of one large buyer on Bitfinex using spoof orders to lead the assets price higher.

Once these orders disappeared, ETH’s price had the rug pulled out from underneath it, leading to the intense selloff seen yesterday.

It does appear that Ethereum rapidly entered oversold territory yesterday, as the crypto’s intense rebound points to some underlying strength.

That being said, the asset has yet to break above $380 and was showing some signs of weakness at the upper boundary of its cloud formation.

Whether or not it can hold above its cloud at $365 and break $380 will likely determine where it trends in the near-term.

This Key Level Could Spark a Move Up Towards $650

While speaking about the cryptocurrency’s current outlook, one analyst observed that ETH is on the cusp of breaking above a crucial resistance level that sits just below $400.

The chart he offers – as seen below – seems to indicate that a firm break above this level could lead Ethereum to rally up towards $650.

“Marked bull market resistances of ETH for yall,” he noted.

Image Courtesy of CryptoBirb. Chart via TradingView.

Where Bitcoin and the stock market trend throughout the coming few days should hold serious influence over Ethereum’s price action.

Featured image from Unsplash. Charts from TradingView.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) íà Currencies.ru

$ 96691.67 (-0.16%)
Îáúåì 24H $40.399b
Èçìåíåèÿ 24h: -0.85 %, 7d: -6.03 %
Cåãîäíÿ L: $96041.94 - H: $97458.26
Êàïèòàëèçàöèÿ $1914.458b Rank 1
Öåíà â ÷àñ íîâîñòè $ 10783.93 (796.63%)

seen today market ongoing upswing bitcoin ethereum

Èñòî÷íèê: newsbtc.com

seen today → Ðåçóëüòàòîâ: 126


Analyst: Ethereum Poised to Dip to $270 as Selling Pressure Mounts

Ethereum has been fully exposed to the weakness seen by Bitcoin and the aggregated crypto market today This has caused it to post some notable losses, with its price reeling down to lows of $325 earlier this morning before bears lost some of their momentum and the crypto rebounded back above $330 Despite some slightly positive price action seen this morning, one analyst is still noting that the likelihood of a decline down towards the […]

2020-9-8 23:00


Ôîòî:

Bitcoin’s Bull Case Degrades Following Selloff; What Analysts Are Watching

Bitcoin has seen some slight downside today, marking a bearish resolution to the bout of sideways trading that it has been caught within throughout the past few days Yesterday, bulls were showing some signs of strength as they pushed the crypto towards $12,000 This fleeting momentum seems to indicate that bulls are still plagued by underlying weakness As for where BTC may trend next, analysts are noting that this did strike a blow to the […]

2020-8-26 21:00


Ôîòî:

Ethereum at Risk of Seeing Major Downside; Here’s What Analysts are Watching

Ethereum has seen mixed price action over the past couple of weeks After rallying to highs of nearly $450 last week, the crypto faced an insurmountable influx of selling pressure that forced it lower Initially, this decline forced ETH to lows of $398 before it bounced towards $420, but today it faced another bout of selling pressure that sent it back to its $400 support Analysts are now starting to grow increasingly bearish on the […]

2020-8-22 23:00


Ethereum Reaches Crucial Macro Resistance as Analysts Eye a Pullback

Ethereum’s price has rallied higher today in tandem with Bitcoin and other major digital assets This latest surge simply marks an extension of that seen throughout the past several days and weeks, with ETH now trading at the highest price levels seen in over a year The crypto is currently pushing up against its high time frame resistance, however, which could be a sign that its uptrend will start slowing in the near-term Where it […]

2020-8-1 22:00


Ethereum‘s Breakout Rally Suggests Bitcoin is Poised to Explode Past $12,000

Ethereum and Bitcoin are both showing immense signs of strength today as they push towards their recently established key resistance levels ETH once again appears to be leading Bitcoin, as its large upwards price movements now tend to take place just before those seen by BTC This could prove to be incredibly positive for the benchmark cryptocurrency, as analysts believe it could help send it past $12,000 in the days ahead For this possibility to […]

2020-8-1 21:00


Ethereum Open Interest Rebounds as Analysts Eye an Explosive Upside Movement

Ethereum has seen some tempered gains overnight, recapturing its position within the $240 region as it shows some signs of technical strength. Today’s climb has largely been the result of that seen by Bitcoin, as ETH has been closely tracking the benchmark cryptocurrency’s price action over the past week. This has caused Ethereum’s open interest...

2020-6-9 02:00


Ôîòî:

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


Research draws parallels with astrophysics to explain rapid rise of cryptocurrencies

Cryptocurrencies like Bitcoin have made immense inroads with regard to their value and legitimacy in most economies and societies. What was once touted as 'drug dealer money' today is seen more for itThe post Research draws parallels with astrophysics to explain rapid rise of cryptocurrencies appeared first on AMBCrypto.

2020-5-24 11:00


Bitcoin on the Cusp of Going Parabolic as an Elusive Indicator Flashes

Bitcoin has seen some notable upwards momentum today that has allowed the benchmark cryptocurrency to surmount the heavy resistance that it was previously facing at $9,200. Today’s upwards breakout marks a bullish resolution to the extended bout of sideways trading that the crypto was previously facing while it hovered around $8,800 for the past several...

2020-5-7 20:30


Here’s Why Amazon’s 7% Plunge Today Could be a Warning Sign for Bitcoin

The stock market’s striking correlation to Bitcoin throughout the past few months still appears to be holding strong, even despite Bitcoin’s intense rally seen over the past couple of days. It now appears that this correlation could once again prove to be highly negative for the benchmark cryptocurrency, as some major components of the market...

2020-5-2 02:00


This Crypto is On the Brink of Seeing Parabolic Upside as Bulls Defend Key Level

Chainlink has seen a notable recovery from its daily lows today, as the crypto’s bulls have stepped up and defended against it seeing further underperformance of Bitcoin and other altcoins. This comes as the cryptocurrency sees some notable fundamental developments, including an imminent listing on Gemini as well as the integration of multiple Chainlink oracles...

2020-5-2 00:00


For Bitcoin's institutional investors, how important is a regulated environment?

When it comes to crypto-markets, the last few years have seen increased institutional interest. Today, Bitcoin is viewed as a legitimate investment tool, with the king coin having doubled down on its The post For Bitcoin's institutional investors, how important is a regulated environment? appeared first on AMBCrypto.

2020-5-1 14:30


Ôîòî:

XRP Just Faced a Harsh Rejection at a Key Trendline; Trouble Ahead?

The aggregated crypto market has incurred some intense upwards momentum today, allowing major altcoins like XRP to post notable gains This latest upswing comes shortly after the cryptocurrency incurred a rally independent of the market yesterday It is important to note that XRP has faced a notable rejection against its Bitcoin trading pair, forcing it to remain beneath a key trendline Although XRP has been fully exposed to the downside seen by the aggregated crypto […]

2020-4-30 23:00


äàëüøå åùå 77 íîâîñòåé →

Ïàðòíåðû Currencies.ru

Àíàëîã Notcoin - Blum - Èãðàé è çàðàáàòûâàé Ìîíåòû



Ðåêëàìà íà Currencies.ru

Ñàìîå ñâåæåå íà 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.