Ethereum has seen some rather lackluster price action in recent times, hovering around the $200 level as its buyers and sellers largely reach an impasse.
This price action has not been emblematic of the cryptocurrency’s underlying fundamental strength, however, and one analyst is noting that there are a few major factors that suggest a massive bull trend exists just around the corner.
This trend comes as analysts note that the cryptocurrency could also be strong from a technical perspective as well, with one even offering a lofty near-term price target for the cryptocurrency at $250.
Here are the Fundamental Factors That Suggest Ethereum is on the Cusp of a Massive Uptrend
Although Ethereum’s price action has been rather lackluster as it hovers within the lower $200 region, there are a few key fundamental developments that suggest the crypto is poised to see a major uptrend in the near-term.
Spencer Noon, the Head of DTC Capital, spoke about this in a recent tweet thread, explaining that he sees a host of factors that signal ETH is poised to rally.
Of all the factors he discusses, two of the most bullish – in terms of direct correlation to the crypto’s price action – can be seen while looking towards its institutional inflows and massive net outflow of ETH away from exchanges.
With regards to institutional adoption, Noon explains that the growth of the Grayscale Ethereum Trust (ETHE) over the past three weeks shows that institutions are either investing in ETH, or are locking up their existing holdings at a rapid pace.
“1 million new shares of [Grayscale Investment’s] ETHE have been issued in the past 3 weeks – a sign that institutions are either investing in ETH or locking up their existing holdings at a pace of roughly $1 million per day,” he explained.
Noon also points to the massive outflow of ETH away from exchanges as a reason why the crypto is fundamentally strong, noting that this is a sign of accumulation.
“Post-Black Thursday (March 12) there has been a net outflow of ETH from exchanges, with 62% of days showing net outflows – a sign of accumulation,” he said while pointing to the below chart.
Image Courtesy of Spencer Noon
Where Could This Potentially Imminent Uptrend Lead ETH’s Price?
As for how high this potential uptrend could lead Ethereum, one analyst recently noted that he is watching for a movement up to $250.
This target is labeled on the chart seen below, and it appears to coincide with a descending trendline that has been formed in the time following the cryptocurrency’s rally to highs of $290 in mid-February.
Image Courtesy of Galaxy
In order for Ethereum to push to these highs, it is imperative that the aggregated cryptocurrency market garners greater upwards momentum.
Featured image from Shutterstock. origin »
The crypto space is never lacking of events – from hacks to memecoins frenzy, to traders realizing huge profits from trades. This time, it is the action of a particular Ethereum whale that has caught attention, one that has the ETH community in shock as to the reasons for such action.
Ethereum has seen some incredibly strong price action throughout the past few days and weeks, with buyers taking full control of its price action as they hold it above $500 for an extended period of time.
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...
Ethereum has been able to maintain above $200 despite the recent turbulence seen within the aggregated crypto market This outperformance of Bitcoin has allowed it to gain some strength on its embattled BTC trading pair ETH is still in a precarious position, however, as analysts are noting that its macro bear structure still remains strong Analysts are also widely flipping short on ETH, with some anticipating massive downside Ethereum’s price action has been largely lackluster […]
Ethereum has been seeing some incredibly lackluster price action throughout the past several weeks and months, setting a series of lower lows while losing ground against Bitcoin Despite showing signs of technical weakness, data shows retail investors have been busily accumulating the cryptocurrency This trend isn’t unique to just retail investors either, as data also reveals that institutional investors have also been stocking up on ETH Ethereum has seen some lackluster price action in recent […]
Ethereum has once again declined back down to its long-held consolidation channel around $200 The cryptocurrency is now showing some signs of weakness as it continues performing poorly alongside Bitcoin and most other major altcoins This weakness could soon lead it down to a key support level that must be maintained by buyers A failure for ETH to hold above this level could mean a “car crash” style decline is imminent, according to one analyst […]
Ethereum has some immense weakness in recent times, severely underperforming Bitcoin and the aggregated crypto market as it continues struggling to garner any upwards momentum. Traders don’t seem to think that this lackluster price action will last for too much longer, however, as open interest for ETH has been rocketing higher throughout the past 12-hours....
Ethereum has seen some incredibly poor price action throughout the past several weeks, with the cryptocurrency’s severe underperformance of Bitcoin leading it to erase virtually all the gains that came about as a result of the latest market-wide upswing.
Following Bitcoin's lead, Ethereum prices dipped on 10 May by a whopping 14% in an hour. This took the value of the second-largest digital asset from $210.06 to $180.01. This sudden dip in the price oThe post Ethereum Options paint a bearish picture after recent price action appeared first on AMBCrypto.
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 […]
Ethereum has seen mixed price action throughout 2020, with the cryptocurrency first incurring a parabolic uptrend in early-February that led it to highs of $290, before it lost its momentum and reeled all the way down into the sub-$100 region in mid-March.
The collective market cap, at press time, rose to $209. 7 billion, for the first time since the market's collapse on 12 March. In fact, at the time of writing, Bitcoin's dominance had dropped to 64.
Ethereum, much like Bitcoin and all other major cryptocurrencies, is currently caught within a bout of range-bound trading that has led it to hover within the mid-$130 region. This lackluster price action may not last long, however, as analysts are now widely noting that the crypto may soon “dive hard” during the next major Bitcoin...
Ethereum has been closely tracking Bitcoin’s price action over the past day, which has led it to once again enter a consolidatory phase within the mid-$130 region. This bout of sideways trading closely follows the crypto’s recent rally that sent it surging towards its key resistance at $140.
Investors are paying close attention to Ether’s price action since it is currently testing a significant support level that would likely determine where it is headed next. Ethereum Teeters from...The post Only a Thin Support Keeps Ether From Catastrophe appeared first on Crypto Briefing.
Ethereum’s price action over the past few days has been lackluster, with the cryptocurrency trending sideways as Bitcoin and the aggregated crypto market struggle to establish a decisive short-term trend.
Coinspeaker Ethereum Price Bounces Back to $230 while Fundamental Metrics Continue to IncreaseEthereum price goes up as bulls seem like waiting for major bullish action. The developers are teasing the community with 'big code update' and prepare several possible upgrades, both controversial and useful.
Analysts tend to compare Ethereum and Ethereum Classic in terms of their technicalities and price action. However, IntoTheBlock took a different approach to determine the fundamental differences between the two.
Ethereum (ETH) and the aggregated crypto market is in the process of bouncing following yesterday’s intense selloff, with the current price action being emblematic of a relief rally that could ultimately be a bullish sign, if bulls are able to maintain the momentum.
Ethereum (ETH) has seen some intense bearish price action over the past couple of days, which has largely stemmed from the bear-favoring market structure that Bitcoin has formed in the time following its recent “flash crash” below $10,000.
Although the whole crypto market has now experienced almost two weeks of downside action, altcoins have suffered a bit more than Bitcoin which was recently re-testing $9,000. During the recent mini bull run, Bitcoin started losing a lot of market dominance dropping from a high of 69% to 60.
Ethereum has been caught within some turbulence over the past week, with its price action largely mirroring that of Bitcoin and the aggregated crypto market. Earlier this week, ETH plummeted from its recent highs of $280 to lows of $250, before finding some strong buying pressure that has allowed it to climb back to its current price region.
Ethereum (ETH) has seen some mixed price action over the past week, with the cryptocurrency previously finding some stability around $280 before plummeting below $250 in tandem with Bitcoin’s crash below $10,000.
Ethereum’s price action as of late has been closely correlated with that of Bitcoin, with the benchmark cryptocurrency’s recent volatility spilling over into the altcoin markets, subsequently guiding ETH and most other cryptos to post bear-favoring movements.
Ethereum has been subjected to intense volatility over the past several days, which has primarily been rooted in the close correlation to Bitcoin’s price action that it has formed in recent times. This volatility has primarily favored sellers, but it is important to note that it has not been enough to invalidate the bullish market structure it has formed throughout the course of its parabolic uptrend seen throughout the past several weeks. One top analyst is now laying out the […]
Ethereum’s recent price action has been closely tied to that of Bitcoin in the time since it faced a rejection at its recent highs of $290, with its inability to further extend its parabolic uptrend signaling that bulls may not be as strong as they were previously thought to be.
Signs during trading in today’s Asian session indicate that the correction could be over already. Ethereum is leading the charge once again, can it reach $300 this time around? Crypto markets appear to be recovering today though bitcoin has hardly moved on the day, remaining at around $9,800.
Ethereum (ETH) has seen some incredibly bearish price action over the past several days and weeks, with Bitcoin’s recent break below $10,000 catalyzing a short-term downtrend that has impacted all major cryptocurrencies.
Another week, another round of Crypto Tidbits. If you look at the below chart, it may seem like Bitcoin had a subdued week in terms of price action; however, the past few days for this budding market has been filled with ups and downs, like the surge to $10,600, then the subsequent strong retracement to $9,700...
Ethereum (ETH) has seen some insane price action over the past several days, with its 2020 rally rapidly turning parabolic as bulls look to propel the crypto past $300. This intense upwards rally has allowed the cryptocurrency to break above a key resistance level that had previously been suppressing its price action, suggesting that it...
Ethereum, like most other major cryptocurrencies, has been facing some bearish price action over the past day, with Bitcoin’s recent movement to below $10,000 leading ETH and the aggregated market to see some intense selling pressure.
Another week, another round of Crypto Tidbits. Bitcoin saw quite the past week in terms of price action, rallying from a low of $9,100 to as high as $9,900 (a high just set hours ago as of the time of this article’s writing).
Greed it taking over the price action for Ethereum, EOS, and NEO, suggesting a coming correction. Ethereum Prepares for a Correction Ethereum is going through a massive bullish impulse with...The post Ethereum, EOS, NEO Awaiting Retracement, Show Trading Indicators appeared first on Cryptocurrency News.
Ethereum has seen some incredibly strong price action over the past several days and weeks, with ETH’s massive 2020 rally coming against the backdrop of immense bullishness within the aggregated cryptocurrency markets.
A new “altseason” appears to have begun as several altcoins are starting to post significant gains. As a matter of fact, Ethereum Classic is up nearly 300 percent since mid-December 2019 while Cardano and IOTA surged over 90 percent.
A new “altseason” appears to have begun as several altcoins are starting to post significant gains. As a matter of fact, Ethereum Classic is up nearly 300 percent since mid-December 2019 while Cardano and IOTA surged over 90 percent.
Ethereum (ETH) has been closely tracking Bitcoin’s price action over the past couple of weeks, which allowed it to post massive gains throughout the first part of the month, before setting a local top that has been followed by firmly bearish downside.
Ethereum has been closely tracking Bitcoin and the aggregated crypto markets over the past several days, which means that ETH’s multi-day price action has primarily favored sellers. In spite of this, ETH is still trading up significantly over a weekly period, and the cryptocurrency has been able to build some short-term momentum today, allowing it... The post appeared first on NewsBTC.
Ethereum is up more than 15% and it broke the key $150 and $160 hurdles versus the US Dollar, while bitcoin jumped above $8,800. However, the current price action suggests ETH could correct towards $160 before it continues higher.
Ethereum has been closely tracking Bitcoin’s volatile price action as of late, which head led ETH to gain a firm position within the $140 region. The cryptocurrency’s bulls have shown signs of growing vitality over the past several days, which comes as the altcoin market begins flashing hints of having immensely bullish near-term potential. It... The post appeared first on NewsBTC.
Over the past two days, Bitcoin, Ethereum, and the rest of the cryptocurrency market have shot higher, retaking key price levels after an 8% correction that brought BTC as low as $7,700. Analysts say that this move is a precursor to strong price action in BTC and ETH.
Ethereum has been closely tracking Bitcoin’s price action over the past several days, which has led it to incur heightened volatility that has generally favored ETH’s buyers. The crypto has now been able to reclaim its position within the $140 region, which comes after its bulls defended a key support region.
Since the major bull market of 2017, the price of the native digital asset on the Ethereum network has not performed so well. However, that has not dampened every commentator’s spirit for ETH going forward.
Ethereum may see more downside. Despite the crypto’s bearish price action in 2019, Ethereum has made significant fundamental progress.
The post Ethereum Could See More Pain Before Face-Melting Bull Market: Analyst appeared first on CCN.com
After reclaiming the $130 level earlier this past week, Ethereum (ETH) is currently struggling to hold above this level as bears attempt to take full control of the aggregated cryptocurrency markets.
Despite the lackluster price action seen by Bitcoin over the past several days, Ethereum (ETH) has been able to climb back above its previous resistance level at $130 and find some decent buying pressure at this price region, which has come about after an extended period of trading sideways just above its key support level... The post appeared first on NewsBTC.
The precarious nature of Bitcoin’s recent price action does not lend itself to helping generate bullish price action amongst major altcoins, but one prominent analyst is noting that he believes Ethereum, XRP, and Bitcoin Cash are all decently positioned to see further upside against their USD trading pairs in the near-term.
Ethereum’s price action has been largely bearish over the past several days and weeks, with ETH facing multiple strong rejections that have pointed to some underlying weakness amongst the cryptocurrency’s bulls.
Ethereum has experienced a massive price surge, jumping from the $2,200 level to $2,500 in just a few hours. This comes after a period of extreme selling pressure that saw ETH drop as low as $2,080 on Friday, leading analysts to expect further declines.
Ethereum is trading below the $2,300 mark after failing to hold key demand levels last week. The price has faced intense selling pressure, fueling concerns among investors that ETH may not see a strong bull market ahead.
In line with major losses across the crypto market, Ethereum (ETH) declined by 17. 08% in the past week reaching as low as $2,104. While the prominent altcoin has shown some minor gains in the past 12 hours, the general market sentiment remains bearish.
Ethereum has experienced a massive drop, losing over 27% of its value in less than five days as the market faces extreme fear and uncertainty. The rapid sell-off has fueled speculation that a bear market could be on the horizon, with many analysts calling for further downside in the coming months.
Amid the market retrace, Ethereum (ETH) has lost its key $2,600 support zone and fallen below the next crucial level. As the second-largest cryptocurrency by market capitalization attempts to hold its current range, some analysts predict a 6% drop could be coming.
Ethereum has been struggling below the $2,800 mark for weeks, unable to reclaim it as support and spark a recovery rally. This critical resistance level has kept bulls at bay, leaving the price action stagnant and fueling negative sentiment in the market.
Ethereum price action amid the broader crypto market bearish sentiment over recent weeks hasn’t been any different from the performance recorded in the past months. Over this period, Ethereum’s price has struggled to gain significant upward momentum, remaining in a prolonged consolidation phase.