Ethereum Hits $320 as Price Goes Parabolic: What Analysts Think Comes Next

2020-7-26 12:27

Ethereum is ripping higher after having broken past the pivotal $250 resistance earlier this week. As of this article’s writing, the asset trades for a few dozen basis points shy of $320 — a price almost 30% higher than that of five days ago.

ETH’s latest leg higher has brought it to a new year-to-date high. Earlier this year, in February, the asset topped at around $290 before proceeding to plunge to $88. This latest move, then, has been a breath of fresh air for bulls.

Chart of ETH's price action over the past few days from TradingView.com

Many investors have been caught off guard by this move. Just days ago, the asset was stuck under $250 as it failed to benefit from the then-ongoing small-cap altcoin surge.

Though analysts are trying to determine what comes next for Ethereum, which remains down almost 80% from its all-time high.

Ethereum Is Printing Reversal Signs

Ethereum is printing potential reversal signals after surging 30% in five days, analysts have said.

One trader shared the chart below, noting that Ethereum looks similar to how it did at the February top from the perspective of a trend indicator:

“Watch for a local top on $ETH based on 10 day trend persistence.. highest in Feb was 12.30, March dump highest was 12.25, we are currently at 12.21.”

Chart of ETH’s price action since the start of the year with Persistence indicator from trader Joseph (@Josephcrypto on Twitter). Chart from TradingView.com

Other signs have also indicated that the asset is extremely overextended.

One trader shared that per the Bollinger Bands, a prominent technical indicator that tries to define ranges/volatility for an asset, ETH is overextended:

“You may very well have a strong FOMO that you don’t own enough ETH right now but look at the Bollinger Bands, daily completely outside of it. High chance it goes back inside the channel over the next week.”

That same individual added a few moments later that Ethereum’s current price action looks structurally similar to 2019’s highs. “We slightly overran yearly pivot R last year and we just did so now… Pretty confident I’ll be able to buy back a bit lower.”

Don’t Fade the Rally Long Term

Although most agree that Ethereum may see a short-term drop, a large convergence of analysts remain certain that it is long term in an uptrend.

One top trader commented that he is not “fading this,” referencing how Ethereum decisively set a macro higher high for the first time in around three years.

Others have noted that because Ethereum breached a macro resistance at $290-300, it is primed to surge towards the $500s and beyond.

Featured Image from Shutterstock Price tags: ethusd, ethbtc Charts from TradingView.com Ethereum Hits $320 as Price Goes Parabolic: What Analysts Think Comes Next

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3805.15 (+0.20%)
Объем 24H $31.952b
Изменеия 24h: 0.44 %, 7d: 29.22 %
Cегодня L: $3731.37 - H: $3938.97
Капитализация $457.113b Rank 2
Цена в час новости $ 308.17 (1134.76%)

higher ethereum price 320 trades asset writing

Источник: newsbtc.com

higher ethereum → Результатов: 126


Bitcoin’s Break Above $9,500 Could Fuel a Massive Push Higher; Claims Analyst

Bitcoin saw a notable upswing yesterday that allowed it to break through the resistance that it had formed in the mid-$9,000 region This came about shortly after the breakout rally posted by Ethereum, which sent the crypto from the lower-$240 region to highs of $270 It now appears that Bitcoin’s mid-term outlook is significantly brighter as a result of this latest movement One analyst is noting that the benchmark crypto could be well-positioned to rally […]

2020-7-24 02:00


Ethereum Just Broke a Multi-Year Accumulation Range; $350 May Be Imminent

Ethereum incurred a strong impulse higher yesterday that allowed it to shatter through the upper boundary of its macro trading range between $230 and $250. This allowed the cryptocurrency to completely alter its technical trajectory, as analysts are now noting that it could be poised to push significantly higher in the days and weeks ahead. […]

2020-7-24 00:00


Here’s Why Analysts are Flipping Short on Ethereum After Its Explosive Surge

After a prolonged period of range-bound trading, Ethereum posted a breakout rally yesterday that allowed it to surge up to fresh multi-month highs This rally put a firm end to the crypto’s macro trading range between $230 and $250 It remains unclear as to what caused this movement, but it allowed Bitcoin and other major altcoins to push higher as well Analysts are now growing cautious of what could come next for ETH Despite its […]

2020-7-24 23:00


Why Ethereum May Severely Underperform DeFi Tokens During Next Bull Market

Ethereum has seen some positive price action throughout the past day, although it remains highly correlated to that of Bitcoin It also remains caught within its macro trading range between $230 and $250, with its buyers being unable to surmount the upper boundary of this range ETH investors have been speculating that the growth seen within the DeFi sector could be enough to propel the crypto higher That being said, one analyst and fund manager […]

2020-7-23 23:00


Фото:

Ethereum’s Strength Degrades Following Rejection at $250; What Comes Next

Ethereum has flashed signs of technical weakness overnight following a harsh rejection at $250 This level marked its high-time-frame resistance, and its inability to break above it seems to elucidate underlying weakness amongst its buyers Analysts are noting that it could be poised to continue pushing higher despite this latest setback There is one crucial level that it is trading just a hair above that could invalidate this potential rebound Ethereum has flashed signs of […]

2020-6-25 23:00


Фото:

The Probability of Ethereum Seeing a Parabolic Rise in 2020 is 7%; Factors to Consider

Ethereum has been moving in close tandem with Bitcoin throughout the past several days and weeks, struggling to garner any independent momentum as it ranges This sideways trading has done little to bolster the cryptocurrency’s bull case That being said, analysts have been pointing to its fundamental strength as a reason why it may soon explode higher Data seems to suggest that the crypto only has a 7% chance of seeing any type of intense […]

2020-6-23 23:00


Фото:

Why This Respected Fund Manager Sees DeFi Thrusting Ethereum 4000% Higher To A Trillion-Dollar Market Cap

Some investors are still wary of a March-like market correction. With crypto markets, you can never predict, of course. For instance, who could have foreseen such a massive crash in mid-March, and who could have also seen the swift recovery from the painful lows? Ethereum has recovered over 120% from the lows of March. However, […]

2020-6-20 14:34


Фото:

Ethereum is Coiling Up to Make a Big Movement; Here’s Why it May Favor Bears

Ethereum, like Bitcoin, has been caught within a long-held bout of sideways trading over the past week This consolidation has made it increasingly unclear as to which direction it will trend next It has largely come about as a result of the lackluster price action seen by Bitcoin in recent times Analysts do believe that ETH could be poised to see some notable downside if it is unable to push higher in the days and […]

2020-6-11 23:00


Фото:

Ethereum’s Rocketing Funding Rates a Grave Sign for Its Ongoing Rally

Ethereum has been severely underperforming Bitcoin in recent times, but this appears to be shifting as the cryptocurrency posts a breakout rally while BTC declines This uptrend has come about as long positions for the cryptocurrency rocket higher, reaching a fresh all-time high this week In tandem with this, ETH’s funding rate has also grown massively – which is typically a grave sign that a torrent of liquidations is imminent Ethereum has been able to […]

2020-5-30 23:00


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:

A Shake-Up in DeFi Sees Wrapped Bitcoin (WBTC) Growing Faster Than Lightning Network

Ethereum network has minted 1,000 Wrapped Bitcoin (WBTC) on May 12th via a single transaction, dwarfing the entire amount of Bitcoin locked in the Lightning Network (LN). This recent transaction brought the total number of Bitcoin locked in WBTC to 2,300, which is significantly higher than the 923 Bitcoin currently locked in the Lightning network. […]

2020-5-16 23:46


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Whale Watch: Ethereum Fresh Buy Signal Sparks Speculation

The Ethereum market has been a whirlwind of activity in recent days. After a brutal price correction last week, the world’s second-largest cryptocurrency by market capitalization has staged a mini-rebound, leaving investors wondering if this is the start of a sustained bull run or a fleeting flicker before another dip.

Ethereum To See Fresh Move Soon? What Futures Data Says

Data shows the Ethereum Open Interest has been trading at relatively low levels recently. Here’s what this could mean for the asset’s price. Ethereum Open Interest Has Been Moving Sideways Since Its Plunge As explained by an analyst in a CryptoQuant Quicktake post, the ETH Open Interest has followed a similar trajectory as the price of the cryptocurrency recently.

Ethereum Fees Now Lowest Since January: Is It A Bottom Signal?

On-chain data shows that Ethereum transaction fees have dropped to their lowest level since January, a sign that a bottom could be close. Ethereum Transfer Fees Has Plunged As Network Has Gone Cold According to data from the on-chain analytics firm Santiment, Ethereum transaction fees have taken a notable hit recently.

These Are The Ethereum Altcoins Witnessing High Whale Interest

Here are the Ethereum-based altcoins that are currently witnessing a high amount of activity from the whales, according to on-chain data. These Ethereum Altcoins Are Seeing High Whale Transactions Right Now In a new post on X, the on-chain analytics firm Santiment has discussed how several Ethereum-based altcoins have been seeing notable whale activity recently.

Ethereum Breaks $2,900, But Watch Out For Futures Overheating

Ethereum has broken beyond the $2,900 level during the past day, but data shows the futures market may be starting to become overheated. Ethereum Has Now Broken Through The $2,900 Level While Bitcoin has slumped to an overall sideways trajectory recently, Ethereum appears to have decided to pick a path of its own, as the second largest asset in the sector has surged almost 4% over the past 24 hours.

Recovery Dim? Ethereum Faces Potential Slide Towards $2,000

Ethereum, the linchpin of the decentralized application ecosystem, finds itself navigating a precarious path this week. The cryptocurrency’s value, having breached the pivotal $2,250 support level, now teeters on the edge of a decisive crossroads, caught between the prospect of a resurgence and the looming threat of a more pronounced downturn.