Ethereum could be well positioned to see some notable upside in the days and weeks ahead, despite its overt signs of weakness caused by its recent decline to the sub-$200 region.
Analysts are now noting that its market structure still favors buyers so long as it maintains above $185, and that a continued defense of this support could be enough to spark the cryptocurrency’s next major uptrend.
One such analyst is even noting that this potential next upswing could lead the cryptocurrency to as high as $290, with this being a critical level due to it being ETH’s current year-to-date high.
It is important to keep in mind that Ethereum’s moving averages are still telling a bearish tale when it comes to the crypto’s macro trend, and buyers will have to begin garnering significant strength in order to shift these MAs back into their favor.
Ethereum Hovers Around $200 Following Latest Selloff
At the time of writing, Ethereum is trading up 1% at its current price of $200. This marks a notable climb from daily lows of $192 that were set yesterday when the crypto began incurring some downwards momentum.
Buyers were able to quickly absorb this selling pressure, however, and subsequently were able to propel ETH back above $200.
The crypto is currently trading well below its multi-week highs of over $230, with its decline from these highs leading it to see immense bearishness against its Bitcoin trading pair.
Its weakness against BTC has placed some drag on its USD trading pair as well, also causing its moving averages to flash signs of immense macro weakness.
One trader recently spoke about this development in a recent tweet, explaining that it is “hard to find any macro bullish argument” for Ethereum due to its moving averages.
“ETH: Hard to find any macro bullish argument with HTF MAs looking like this,” he said while pointing to the below chart.
Image Courtesy of Mac
ETH Still Well Positioned to Rally Higher Despite Overt Weakness
Another analyst recently explained that he still believes that the cryptocurrency is well positioned to see further upside as long as it trades above $185.
He noted that a continued defense of this level could lead the crypto to $250 or even $290.
“Ethereum: I’ll take it. As long as we remain above $185 (and even $168-173) I suspect ETH will start pacing up towards the February / March levels. Targets should be $250 / $285-290.”
Image Courtesy of Crypto Michael
The same analyst also went on to further add that Ethereum should be able to incur a solid uptrend as long as it remains above its 100 and 200-day moving averages on its daily chart.
“As long as the 100/200-MA on the Daily remain support, the trend should be up and we can expect upwards continuation.”
Featured image from Unplash. origin »
Some are speculating, could Ethereum ($ETH) reach $16,000 by May 2025, potentially elevating its market cap above $1 trillion? As interest in Ethereum continues to soar, the innovative PlutoChain ($PLUTO) project could also attract whale attention thanks to bringing innovative technologies.
ETH’s Long/Short Ratio increased, suggesting a rise in bullish sentiment.
However, market indicators remained bearish.
Ethereum [ETH], like most other cryptos, has been showing less voThe post Could Ethereum reach $4,500 by Q1 2025? Analyst predicts a major breakout appeared first on AMBCrypto.
The bullish triangle pattern could see ETH breakout toward $3,350
Unenthusiastic demand could hurt the chances of a breakout
Ethereum [ETH] was trading beneath the resistance zone at $2.
A new Ethereum Improvement Proposal (EIP), EIP-7781, introduced on October 5 by Illyriad Games co-founder Ben Adams, could significantly boost Ethereum’s transaction throughput by reducing the network’s slot time from 12 seconds to 9 seconds.
Ethereum’s new proposal aims to enhance performance by 50%.
If approved, it could help ETH close the gap with other top L1s’ throughput.
Ethereum [ETH] researchers have made a cruciaThe post Could Ethereum's new EIP 7781 help close the gap with Solana? appeared first on AMBCrypto.
Ethereum (ETH) may see another price surge as indicators suggest undervaluation and strong buying pressure. However, potential sell-offs from the Ethereum Foundation could affect its momentum.
The post Buying Ethereum (ETH) Now Could Be a Smart Move, Recent Insights Show appeared first on BeInCrypto.
While Ethereum's rollup-centric roadmap could help the ecosystem reach new levels of scale, some developers think relying on third parties to improve access to Ethereum could backfire.
Unibot's growth could revive Ethereum amid market challenges.
Reduced whale interest and declining NFT sales present hurdles for Ethereum's revival, impacting its broader ecosystem.
The currThe post How Unibot could aid Ethereum in its journey appeared first on AMBCrypto.
ETH’s short-term recovery could depend on the USD and interest rates trend.
Technical indicators suggest short-term consolidation.
The first few days of March have failed to give Ethereum The post Ethereum [ETH] could be set for another round of explosion, only if… appeared first on AMBCrypto.
Ethereum price failed again to clear the $1,700 resistance against the US Dollar. ETH is retesting the $1,600 support, below which it could accelerate lower. Ethereum started another decline from the $1,700 resistance zone.
Account abstraction – a concept recently embraced by Visa – could make Ethereum wallets significantly more user friendly. Valid Points is CoinDesk’s weekly newsletter breaking down Ethereum’s evolution and its impact on crypto markets.
Ethereum is attempting an upside break above the $1,230 resistance against the US Dollar. ETH could start a strong increase if it settles above the $1,230 and $1,250 resistance levels. Ethereum tested the $1,180 level and climbed higher sharply.
New report suggests that Ethereum could be affected by sell pressure due to upcoming hardfork
Number of large addresses on Ethereum continued to grow while top traders took long positions on ETThe post This Ethereum development could favor long-term investors, according to... appeared first on AMBCrypto.
Ethereum remained well bid above the $1,465 level against the US Dollar. ETH could start a fresh surge if there is a close above the $1,600 resistance. Ethereum corrected lower but the bulls were active near the $1,465 zone.
Ethereum settled below the $3,000 support zone against the US Dollar. ETH price could continue to move down if it stays below the $3,000 pivot level. Ethereum started a downside correction after it failed to stay above the $3,200 level.
While the Bitcoin or Ethereum debate rages on between early investors and maxis, London-based bank Standard Chartered already seems to have picked a side. The bank, in a recent research note, said Ethereum could outperform Bitcoin over the next few years, even stating it ‘structurally’ values the world’s second-largest cryptocurrency by market cap at over […]
The post Why Standard Chartered says Ethereum (ETH) could pump to $35,000 appeared first on CryptoSlate.
Ethereum started a major decline from well above $4,000 against the US Dollar. ETH price is now correcting losses from $3,500, but it could struggle near $4,050 and $4,100. Ethereum topped near the $4,375 before staring a downside correction.
Ethereum is above $4,000 and has hit a price level that’s nearly three full times the altcoin’s previous all-time high set years earlier. But could a full year’s worth of incredible profits and ROI be potentially leading bulls right off a cliff? Several potentially bearish signals have appeared on Ethereum price charts that could suggest […]
Analysts predict that plummeting Ethereum (ETH) reserves on centralised exchanges could help ETH price…
The post Ethereum could rocket to $3k as demand outstrips supply appeared first on Coin Journal.
Bitcoin has been firmly in the driving seat over the past couple of weeks and recent on-chain analytics suggests that things could get worse for crypto’s number two, Ethereum. Analytics and blockchain data firm Santiment has been delving into some on-chain metrics for Ethereum, which is still at the heart of DeFi, and they’re not […]
The post Could an Ethereum Miner Dump Drive ETH Prices Lower? appeared first on BeInCrypto.
Ethereum has been woefully underperforming Bitcoin over the past few days, with the cryptocurrency’s USD pair fast approaching a crucial “last-ditch” support level could catalyze a massive downtrend – should it be broken below.
Decentralized finance markets have largely weathered the economic storm this year and continue to mature despite the crypto market remaining relatively flat. This new financial landscape could have a much greater impact on Ethereum than the ICO boom.
Ethereum is expected to break out of last week’s consolidation range that had capped...
The post Increasing number of transaction fees paid on Ethereum network could be bullish news appeared first on Coin Journal.
Ethereum prices at the moment are not inspiring much confidence. However, the long-awaited network upgrades slated for this year and beyond could be a major boost for the crypto asset and its adoption.
The new year has been good for Ethereum; ETH surged by nearly 42% in just over two weeks from the start of the year. However, the coin has dropped in value since then, and there are signs it could droThe post Ethereum could dip to $144 before shooting to $170 appeared first on AMBCrypto.
Ethereum could start rallying to the upside in the coming days, according to a textbook technical indicator. Prominent market analyst Jonny Moe noted Ethereum trending inside a Falling Wedge pattern, confirmed by converging trend lines, forming lower highs and lower lows.
Ethereum has been on a rip recently. Just over the past seven days ETH prices have surged 20 percent from just over $200 this time last Tuesday to $250 today. The fabled golden cross could...
The post Ethereum Golden Cross Could Spell Greater Gains appeared first on Ethereum World News.
The Golden Cross theory seems to have sent every crypto-enthusiast into a tizzy. Ethereum also exhibited the Golden Cross, which usually indicates a change in price trends. In light of the prevailing the bear market, the cryptoverse on Twitter speculates that this could be the start of a bull run.
There is still a lot of Ethereum tied up in ICO projects and the fear is that a mass liquidation could send the token back below three figures in price or, even worse, to early 2017 levels. ETH Back to The Stone Age? Ethereum is already in a world of pain, falling to an 18.
Key Highlights ETH price declined further and broke the important $206 support against the US Dollar. This week’s followed key bearish trend line is still in place with resistance at $208 on the hourly chart of ETH/USD (data feed via Kraken).
Bitcoin has formed higher lows and higher highs to trade inside an ascending channel visible on its 4-hour chart. Price has dropped back to test support, and bulls are still defending this area for now.
Ripple XRP is still recording price gains in a day that has seen most coins record drops and just a few making marginal gains. Ethereum, for example, is down by 2%. If this trend continues, with XRP gaining and Ethereum dropping, we could see XRP become the second largest cryptocurrency in the world again.
Cryptocurrency, Ripple [XRP]–In a move that could prove prescient for the merging landscape of blockchain and banking, the CEO of Ripple has thrown down the gauntlet against primary competitor SWIFT.
Proclaimed world computer and renowned smart contract cryptocurrency Ethereum could see their Constantinople hard fork happening as early as…
The post Ethereum’s Constantinople Hard Fork Could Happen by January 2019 appeared first on Invest In Blockchain.
Latest Ethereum News Despite deep losses, 2018 marks an important milestone for blockchain and cryptocurrencies. It is the year of institutional experimentation with many remaining explicit about their intention to try out different blockchain solutions while some venture into digital asset custodial services.
Latest Ethereum News The evolution of Ethereum as a decentralized and open source platform to an efficient world computer capable of securely storing and processing information requires sacrifice and participation from all stake holders.
Key Highlights ETH price is facing a tough resistance near the $209. 00 and $210. 00 levels against the US Dollar. Yesterday’s highlighted major bearish trend line is intact with resistance at $209 on the hourly chart of ETH/USD (data feed via Kraken).
Key Highlights Ethereum classic price is currently under pressure below the $9. 25 support against the US dollar. There is a major bearish trend line in place with resistance at $9. 25 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
The latest cryptocurrency investment of a US legislator, who bought Ethereum (ETH) when its price dropped below $3,000, is generating headlines. Representative Michael Collins has reportedly taken advantage of the dip by purchasing between $1,000 and $15,000 worth of Ethereum.
Analysts said that two of the biggest cryptocurrencies in the world are riding on the waves of positive sentiments as the exchange-traded funds of Bitcoin and Ethereum reached record highs. The pro-cryptocurrency stance of US President-elect Donald Trump continues to fuel the positive outlook, propelling BTC and ETH to attain unprecedented levels. Related Reading: Operation […]
On Monday, the State of Michigan revealed substantial investments in cryptocurrency exchange-traded funds (ETFs) for Bitcoin and Ethereum in a 13F filing with the US Securities and Exchange Commission (SEC).
For years, Ethereum has established itself as the second-best competitor to Bitcoin regarding technology, innovation, and use cases. If many consider Bitcoin as ‘digital gold,’ Ethereum would be ‘digital silver.
According to veteran trader Peter Brandt, Ethereum might have just seen its future looking brighter. Known for his technical forecasts, Brandt feels the altcoin is on the verge of a bullish turnaround.
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 (ETH) is currently facing significant selling pressure and fear after a 23% decline, bringing its price down to yearly lows at $2,200. One major concern for investors is the ongoing underperformance of ETH compared to Bitcoin, a trend that has persisted since September 2022.