Ethereum Surges Against Bitcoin as Bulls Try to Spark Price Discovery

2021-1-28 19:00

Ethereum has seen some immense turbulence throughout the past few days and weeks, with buyers and sellers both vying to gain control of its price action The cryptocurrency has been unable to gain any clear trend, with buyers keeping it stable between $1,200 and $1,400, while sellers continue guarding its all-time highs It has now tested, and broken above, its all-time highs from late-2017 on three occasions, but each one has been met with massive selling pressure This could indicate that bulls are bound to see further near-term downside unless the entire market begins ascending once again One trader is noting that, from a technical perspective, ETH appears to be far stronger than BTC, which could mean that it is positioned to breakout

Ethereum has seen mixed price action as of late, with its weakness largely coming about due to Bitcoin and its intense downside incurred throughout the past few weeks.

Fortunately for bulls, BTC has been able to remain above $30,000 despite all of its weakness, which may be a good sign for where it trends next.

While sharing his thoughts on where the cryptocurrency might trend next, one analyst noted that Ethereum could be on the cusp of seeing price discovery, with its strength against Bitcoin being striking.

Ethereum Rallies as Broader Crypto Market Rebounds

Yesterday was a weak day for BTC and the rest of the crypto market, with bears causing an intense selloff led by Bitcoin’s multiple breaks below $30,000.

Today, the market has stabilized, and Ethereum has been able to gain some momentum.

At the time of writing, ETH is trading up just under 8% at its current price of $1,340, which marks only a slight decline from its daily highs of $1,360.

Trader Claims ETH Could See Price Discovery as Strength Mounts

One trader explained in a recent tweet that Ethereum could soon see price discovery due to its immense strength against Bitcoin.

“ETH looks A LOT better than BTC rn. Consolidating in an upward channel. Acceptance above VAH would lead to further price discovery + alt season. D close below POC would take it to VAL.”

Image Courtesy of Byzantine General. Source: ETHUSD on TradingView.

Where the market trends next will undoubtedly depend on Bitcoin, but if it can stabilize, it could allow Ethereum and other altcoins to explode higher.

Featured image from Unsplash. Charts from TradingView.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 2427.03 (+0.76%)
Объем 24H $19.915b
Изменеия 24h: 0.26 %, 7d: -7.38 %
Cегодня L: $2427.03 - H: $2427.97
Капитализация $292.255b Rank 2
Цена в час новости $ 1351.23 (79.62%)

ethereum gain buyers sellers price trend keeping

Источник: newsbtc.com

ethereum gain → Результатов: 126


Fourth-Largest Exchange Bitfinex Launches A Decentralized Ethereum Exchange

Decentralized exchanges have been touted as the future of the market, especially since they give back the control to the users as Satoshi first set out to do when he developed Bitcoin. However, despite the great promise, they have failed to gain traction, with even the most popular struggling to crack into the top 100 […] The post Fourth-Largest Exchange Bitfinex Launches A Decentralized Ethereum Exchange appeared first on NullTX.

2018-9-19 00:00


Berkeley Professor Questions Stablecoin Viability in Unflattering Op-Ed

University of Berkeley Professor Barry Eichengreen has taken a swipe at the viability of stablecoins in an op-ed published on Project Syndicate. The critique, entitled “The Stable-Coin Myth,” argues stablecoins are not automatically "viable" just because they are pegged to an asset, though Eichengreen does believe they have an advantage over "conventional cryptocurrencies" such as bitcoin which he says "is highly unstable" and "unattractive as units of account.

2018-9-13 18:07


Фото:

New Morgan Creek Index Excludes ‘Pre-Mined’ Tokens Like XRP – But Not Ethereum

Morgan Creek Capital Management, the investment house with $1. 5 billion of assets under its wing, has refused to include Ripple in its new rules-based index fund. ‘A Lot Of Additional Risk’ As Forbes reports on the launch day of Digital Asset Index Fund August 28, Morgan Creek has opted to exclude any cryptocurrency with more than a 30 percent premine.

2018-8-28 19:00


Фото:

Ripple ‘Isn’t Really A Blockchain’ – Ethereum Co-Founder Downplays XRP, EOS

ConsenSys found and Ethereum co-founder Joseph Lubin told mainstream media that Ripple “isn’t a Blockchain technology” August 14, confirming it “isn’t a competitor” for Ethereum. Lubin: Ripple ‘Isn’t Really A Blockchain’ Speaking to Bloomberg about the current state of the cryptocurrency market and Ethereum development, Lubin delivered an interesting take on two of the industry’s biggest names.

2018-8-16 22:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ethereum Price Tumbles: Will It Find a Way Back Up?

Ethereum price started a fresh decline from the $2,720 resistance. ETH is back below $2,550 and might struggle to start a fresh increase in the short term. Ethereum started a fresh decline from the $2,720 resistance zone.