Ethereum has begun climbing higher after facing some intense selling pressure over the past couple of days, which sent ETH from highs of $285 to lows of under $250 before it was finally able to bounce and begin climbing back towards its recent highs.
In spite of this firm short-term bullishness, it is important to note that many analysts are claiming that the crypto could soon see further downside that leads it as low as $225.
If it does visit this region, however, those same analysts widely concur that the support here could be enough to spark a massive parabolic uptrend that leads ETH surging past $300.
Ethereum Begins Climbing Higher as Analysts Watch Key Resistance Levels
At the time of writing, Ethereum is trading up just under 4% at its current price of $265, which marks a notable climb from intra-plunge lows of under $250 that were set just over a day ago.
Ethereum’s ability to climb from these lows suggests that bulls have some intense underlying strength, and it doesn’t appear that this latest selloff was enough to invalidate the crypto’s bullish market structure.
Now, analysts are noting that ETH is fast approaching a key resistance level that must be flipped into support if bulls want to propel it past $300 in the near-term.
George – a well-respected crypto trader on Twitter – spoke about this level, which just a hair above ETH’s current price level, in a recent tweet, telling his followers that a break above it could rapidly send the cryptocurrency to $300.
“ETH: Mid is key. Flip it and say hello to $300. Might need a bigger retracement first. Sell your house if we retest $225,” he bullishly noted.
$ETH
Mid is key. Flip it and say hello to $300. Might need a bigger retracement first. Sell your house if we retest $225. pic.twitter.com/DX9c5y0Jpg
— George (@George1Trader) February 21, 2020
Analysts Widely Take Sight of a Movement Past $300
George isn’t the only trader who is anticipating Ethereum to rally past $300 in the near-term, as Smokey – another top trader – explained in a recent tweet that his ultimate near-term price target for ETH exists at $350, but he believes it may first have to visit its key support around $225.
“ETH | USD | Weekly Bullish too. If it retraces, 226$ is a buy in my opinion. Already worth punting a long on ETH imo in this ascending triangle formation. Either way, 350$ is the target,” he said.
$ETH | USD | Weekly
Bullish too.
If it retraces, 226$ is a buy in my opinion.
Already worth punting a long on ETH imo in this ascending triangle formation.
Either way, 350$ is the target. pic.twitter.com/p7NON0zigZ
— TraderSmokey (@TraderSmokey) February 21, 2020
The next several hours should provide some greater insights as to whether or not Ethereum will first plummet to $225 before climbing higher, as it is possible that the crypto will soon fly past its key resistance and start its next parabolic ascent.
Featured image from Shutterstock. origin »
While some of the top cryptos are struggling to gain back the bullish momentum seen at the beginning of the year, Tezos (XTZ) continues climbing up. This cryptocurrency just reached...The post Tezos Reaches New Yearly Highs, What’s Next? appeared first on Crypto Briefing.
Today, the market has hit yet new highs. The benchmark S&P 500 Index, up 22. 7% so far this year, is on track to rise for a fifth week in a row while Nasdaq is eyeing its sixth straight week of gains.
The S&P 500 (SPX) is trading close to all-time highs. The Dow Jones Industrial Average (DJI) is in the same boat as it is a few points away from a new record. The market is climbing despite global instabilities such as the U.
U. S. government bond yields extended their September rally on Wednesday, climbing to fresh monthly highs on better than expected data and Chinese trade optimism. Although bonds seem to be recovering, one analyst provided a sobering take on why investors should avoid buying them as a hedge against recession.
Bitcoin (BTC) has once again found itself caught in the throes of a choppy trading range that has provided little clarity as to whether or not it will begin venturing into the four-figure price region, or if it will begin climbing until it retests its year-to-date highs of $13,800.
As the Dow Jones creeps back towards record highs, JP Morgan sounds the warning alarm. In an interview with CNBC, JP Morgan strategist Jasslyn Yeo said she sees the stock market climbing higher for two more weeks before a deep correction kicks in.
By CCN: Is self-proclaimed “bitcoin inventor” Craig Wright crazy? Or is he crazy like a fox? While the bitcoin price is plunging this week, Bitcoin Satoshi Vision — the cryptocurrency championed by Wright — has notched record highs.
Bitcoin price has broken through key resistance reaching $5,600, a new 2019 high. This new level also adds further weight to the increasingly prevalent sentiment that the market is turning bullish.
Crypto markets approaching 2019 highs; Binance Coin unstoppable, BCH still climbing and Ravecoin flying. Market Wrap Crypto markets are marching slowly and steadily higher as another weekend unfolds.
Bitcoin price remaining above $5000 resulted in new trading highs for several countries worldwide last week, the latest data shows. Mexico, Venezuela Post Record Localbitcoins Volumes According to monitoring resource Coin Dance, which tracks trading volumes on peer-to-peer exchange platforms Localbitcoins, Paxful and Bisq, certain markets continued to see spikes in Bitcoin activity.
Crypto markets reach 2019 high; Ethereum way out ahead at the moment, Bitcoin still climbing, XLM and ETC going strong. Market Wrap Contrary to growing analyst opinion, crypto markets continue upwards and new 2019 highs are being made.
ETH price gained traction and surpassed the key $138 resistance level against the US Dollar. The price formed a strong support near the $136 level before climbing above $138. This week’s major bearish trend line was breached with resistance near $138 on the hourly chart of ETH/USD (data feed via Kraken).
Bitcoin (BTC) has held steady above $3,600 after yesterday’s upwards surge that sent it climbing from lows of $3,400 to highs of $3,700. Although often times these upwards price movements are typically followed by a cool-off period that results in Bitcoin surrendering a portion of its gains, BTC has held steady at its current price.
CoinSpeaker
Meet Some Popular Investors who Finished in Profit for the 3rd Year in a Row
2018 will be remembered as one of the most volatile years in market history. While stock markets started the year with incredible surges, with several indices and stocks climbing to all-time highs, Wall Street ended 2018 at a loss, erasing all gains seen earlier in the year.
The US Securities and Exchange Commission (SEC) has approved a key part of an application for a new exchange-traded fund (ETF) that would track Bitcoin and Ethereum, the two largest cryptocurrencies.
Wash trading on Ethereum, BNB Chain, and Coinbase’s Base hit an estimated $2.57 billion in 2024, according to analysts at Chainalysis. Nearly 5% of all tokens launched across various networks in 2024 year had patterns similar to pump-and-dump schemes, blockchain…
Cryptocurrencies dominated financial trends due to their swift recoveries from DeepSeek-driven slumps. Bitcoin has reclaimed $100K after plunging toward the $97K vicinity, changing hands at $103,129.
Solana-based perpetual exchange network Jupiter saw its native token surge over 25% as traders reacted to several major announcements. When writing, Jupiter (JUP) had hit an intraday high of $1.25 after botting out at $0.9449 earlier in the day. Today’s…
Crypto-focused exchange-traded products (ETPs) experienced a significant boost, recording $1. 9 billion in inflows last week. This was only the second-largest weekly inflow of 2025, bringing total inflows for the year to $4.
Bitcoin experienced a sharp decline during Asian trading hours, falling below $100,000 as widespread market turbulence impacted the broader crypto and stock markets. According to CryptoSlate’s data, BTC declined by more than 6% during the last 24 hours to as low as the $97,000 level before recovering to $99,290 as of press time.
Bitcoin’s mining difficulty decreased for the first time since September 2024, coinciding with the top asset price falling below the $100,000 mark. According to CloverPool data, the difficulty level fell by 2.
