Ethereum is About to Test a Key BTC Resistance Level; What Analysts are Saying

Ethereum is About to Test a Key BTC Resistance Level; What Analysts are Saying
фото показано с : bitcoinist.com

2020-12-30 01:00

Ethereum has finally broken its trend of underperformance against Bitcoin, with the crypto’s recent break above $700 allowing it to gain some ground on the ETHBTC pair This strength does appear to be growing, as the crypto has yet to face any harsh rejection around its recent highs, despite Bitcoin’s potential blow-off top at $28,500 BTC’s ongoing consolidation phase may turn out to be highly bullish for ETH and other altcoins One trader is also pointing to ETH’s reaction to a key resistance level it has formed against Bitcoin, noting that a break above it could result in it seeing serious upside It is in the process of climbing above it, which could mean that upside is imminent today

Bitcoin has been rallying in isolation of the entire market over the past few weeks, but this trend is starting to shift as Ethereum flashes mounting signs of technical strength.

One trader explained in a recent tweet that he is now eyeing a move higher in the near-term, with ETHBTC reaching a crucial resistance level that it is in the process of surmounting.

If it can break and hold above this level with ease, ETH may continue ripping higher while Bitcoin consolidates around $27,000.

Ethereum Climbs as Bitcoin Enters Consolidation Phase

At the time of writing, Ethereum is trading up marginally at its current price of $730. This is around where it has been trading throughout the past day.

ETH has been able to recover from sub-$700 lows set last night when the entire market sold off due to XRP posting another massive leg lower.

It quickly recovered from these lows and has continued gaining serious ground against Bitcoin over the past few hours.

Trader: ETHBTC is Peaking Above a Crucial Level

One trader explained in a recent tweet that Ethereum is about to post a break above a key BTC resistance level that he has been closely watching.

“ETH key test coming up here, bearish retest or last barrier before the moon shot? I’m currently long off the H4 block reaction. If ETHBTC can clear the 0.0275 level this should rip.”

Image Courtesy of Mayne. Source: ETHBTC on TradingView.

Since posting this chart, Ethereum has risen above this BTC level and is in the process of posting a strong close above it.

This could be a sign that its uptrend is just getting started and that it is about to gain some serious ground against Bitcoin.

Featured image from Unsplash. Charts from TradingView.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 4.67 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0095806 (-100%)

crypto recent ethereum bitcoin btc potential despite

crypto recent → Результатов: 126


Фото:

Crypto Markets Surging on Back of Rising US Tech Stocks?

A recent rally of technology companies’ shares led to an overall increase in US stock prices, which are hitting new records. Could this bullish activity be the cause of today’s crypto recovery?  US and China willing to continue with the talks The US/China trade war still rages on, but recent events have had some positive impacts on the prices of stocks around the world.

2019-11-26 14:00


Фото:

U.S. SEC Delays Decision on VanEck's Bitcoin ETF Until February 2019

The U. S. Securities and Exchange Commission (SEC) has postponed its decision to approve or disapprove the VanEck/SolidX bitcoin exchange-traded fund (ETF). Per an official document published by the agency, the new deadline to review the VanEck proposal has been shifted to February 27, 2019, which the regulator claims would afford it the time needed to review the potential rule change further.

2018-12-7 19:56


Bitcoin Scams: Singaporeans Losing Thousands of Dollars to Crypto Fraudsters

Singapore authorities recent report that residents have lost about $78,000 to fraudulent online platforms in three months. Online Cryptocurrency Scam Using Fake Personalities The Straits Times reports that Singapore residents have fallen victim to some online Bitcoin scams in a couple of months, losing up to $78,000 between September and November 2018.

2018-12-6 11:44


Finder Experts Predict Bitcoin at $6700 by January 1 and 100% Growth For XLM

Despite the recent bear markets, panelists at a personal finance comparison site, Finder.com are predicting a strong rebound before the end of the year for Bitcoin and some of the top altcoins. In a recent forecast made by ten global crypto experts, it was predicted that Bitcoin would, by January 1, 2019, record an 81% […] The post Finder Experts Predict Bitcoin at $6700 by January 1 and 100% Growth For XLM appeared first on ZyCrypto.

2018-12-6 23:32


Фото:

Zcash Is All Ears Over Coinbase Privacy Concerns

Cryptographic technology has advanced in 2018, bringing the crypto community closer to “privacy for everyone,” according to a recent presentation by Zcash founder Zooko Wilcox. Considering that the Zcash cryptographers “pioneered the use of zero-knowledge proofs,” with Zcash representing the first application for the technology two years ago, it’s fitting that ZEC has become synonymous with privacy.

2018-12-4 17:17


Фото:

Op Ed: From Gray To Black and White: Traditional Regulations Come to Crypto

For nearly a decade, participants in the blockchain and cryptocurrency space have operated in a regulatory compliance gray zone. Recent developments — at both the federal and international levels — signal that the time for plausible deniability or unregulated freedom is coming to an end and more traditional regulations are moving to the forefront.

2018-12-3 19:20