Ethereum Smashes Through Key Resistance, Suggesting a Move to $300 is Imminent

Ethereum Smashes Through Key Resistance, Suggesting a Move to $300 is Imminent
фото показано с : ethereumworldnews.com

2020-2-12 03:39

Ethereum has been caught within what can be characterized as a “moonshot” rally over the past several days and weeks, with its intense bullishness being even further bolstered by Bitcoin’s rapid rise past $10,000.

This intense upwards rally has allowed Ethereum to be one of the top performing cryptocurrencies over the past several days, and it doesn’t seem like it’s showing any signs of slowing down anytime soon.

One analyst is now noting that its next key resistance level exists at roughly $290, which may mean this is where it will surge to next before finding any intense resistance.

Ethereum Incurs Massive Momentum as Analysts Eye a Movement Towards $300

At the time of writing, Ethereum is trading up just under 8% at its current price of $240, which marks a notable climb from daily lows of $219 that were set yesterday prior to the crypto’s intense rally up to its current price levels.

Yesterday’s dip came about after an extended period of sideways trading within the lower-$220 region, but the bullish response to this level seems to confirm that the crypto’s market structure is firmly bullish at the moment.

One piece of fundamental news that could be playing into ETH’s price action is this morning’s report that Ethereum powerhouse ConsenSys could soon merge with JPMorgan’s blockchain unit, although the exact details surrounding the potential merger still remain fuzzy.

Even if this merger does happen, it doesn’t necessarily mean that the bank will begin investing in the Ethereum ecosystem.

Regardless of this, the news may have sparked some excitement amongst investors, despite a formal announcement about the merger being slated for another 6 months, according to Reuters.

As for where ETH could travel to next, analysts are now noting that it could soon see a massive rally up towards its next key resistance region around $290.

Crypto Rand, a prominent cryptocurrency analyst on Twitter, spoke about this in a recent tweet, in which he references a chart showing Ethereum’s next target.

“So… ETH moonshot ongoing! Already +25% from entry,” he said while pointing to the chart seen below.

So… $ETH moonshot ongoing! Already +25% from entry. pic.twitter.com/NSXKd9C2ER

— Crypto Rand (@crypto_rand) February 11, 2020

If Bitcoin continues grinding higher in the coming days and weeks, it is highly probable that Ethereum will continue outperforming it, and that ETH’s momentum may allow it to continue its parabolic ascent.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3323.43 (+1.05%)
Объем 24H $49.191b
Изменеия 24h: 7.62 %, 7d: 5.42 %
Cегодня L: $3039.69 - H: $3364.01
Капитализация $400.232b Rank 2
Цена в час новости $ 246.23 (1249.73%)

ethereum past intense bullishness several days being

ethereum past → Результатов: 126


Cardano, Litecoin, Chainlink, Ethereum, Zilliqa: which of these alts are on the cusp of breaking out?

Despite breaching a new ath over $4000, Ethereum retraced its path over the past 24 hours. The altcoin's price was up nearly 15.19% in the past week and market capitalization has been continuously risThe post Cardano, Litecoin, Chainlink, Ethereum, Zilliqa: which of these alts are on the cusp of breaking out? appeared first on AMBCrypto.

2021-5-11 16:00


Why This Trader is Optimistic That Ethereum Will Spark a Massive Altcoin Rally

Altcoins have been closely tracking Bitcoin and Ethereum’s price action as of late, which is a positive sign showing just how far the markets have come over the past few weeks. While in the past, Bitcoin rallies occurred independently from the rest of the market, with altcoins trailing it or rallying during consolidation phases, the […]

2020-12-1 02:00


Фото:

There Have Never Been This Many Ethereum Long Positions on Bitfinex

Ethereum has been mirroring the price action seen by Bitcoin throughout the past few days and weeks This has mainly worked in its favor, but BTC’s immense momentum has not been enough to pull ETH past its crucial $500 resistance level The selling pressure here is quite significant, and whether or not the cryptocurrency can surmount this should shine some light into its near-term trend It is important to note that Ethereum has reclaimed a […]

2020-11-21 23:00


As Ethereum Hits a Make or Break Level, This Factor Could Spell Doom for What’s Next

Ethereum has had a great week, as it has been able to post consistent gains that have allowed ETH to claim a stable position within the $140 region. Despite this, it has been woefully underperforming Bitcoin over the past 24-hours, and it is unclear whether it will soon begin a descent as investors transfer capital... The post appeared first on NewsBTC.

2020-1-8 23:00


Фото:

Ethereum Price Watch: Currency Witnesses Steady Gains Over the Past 5 Days

At press time, Bitcoin’s closest competitor and the world’s second largest crypto asset by market capitalization, Ethereum, is trading at a respectable price point of $216.12. Additionally, as can be observed from the chart below, the premier currency has been able to scale up to around the $225 mark (twice) within the span of the past […] The post Ethereum Price Watch: Currency Witnesses Steady Gains Over the Past 5 Days appeared first on NullTX.

2018-11-8 14:25


Фото:

Ethereum Price Watch: Currency Struggles to Anchor Around the $210 Mark, Future Still Remains Unclear

At press time, Ethereum, the world’s second largest cryptocurrency by total market capitalization is trading at a relatively stable price point of $209.73. However, as can be seen from the chart below, Ether has been struggling to stay above the $200 threshold for the past week or so — with the premier crypto asset even […] The post Ethereum Price Watch: Currency Struggles to Anchor Around the $210 Mark, Future Still Remains Unclear appeared first on NullTX.

2018-11-5 12:20


$7.8M In Cryptocurrency Disappears From Trade.io “Cold Storage”, Hackers Implicated

Switzerland-based Trade. io Suffers Devastating Hack, Cold Wallet Affected In hand-to-hand fist fights, it is not like gentlemen to kick their opponents while they are already down. However, in the emerging cryptocurrency market, which has been bashed by violent sell-offs in the past nine months, malicious actors still seem poised to attack, hack, and steal from […] The post $7.

2018-10-23 03:28