NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: SOL Strategies: The First Solana Treasury Company Listed On Nasdaq
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: SOL Strategies: The First Solana Treasury Company Listed On Nasdaq

Ethereum: Despite Recent Bearishness, ETH Still Has Incredibly Strong Fundamentals

Cole Petersen
Cole Petersen
6 years ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The aggregated crypto markets have been incurring significant amounts of downwards pressure over the past couple of days as a result of Bitcoin’s inability to climb past $9,000. This has led Ethereum to face considerable selling pressure that has led its price to drop significantly from its recent highs.

Despite this latest drop, it is important to note that recent data suggests that ETH is incurring significant fundamental strength, which may ultimately allow it to surge higher.

Ethereum Finds Support Around $250 After Plunging

At the time of writing, Ethereum is trading down nearly 8% at its current price of $258, down significantly from its 24-hour highs of nearly $290.

ETH’s plunge coincided closely with Bitcoin’s drop, as it ran to highs of nearly $290 as Bitcoin surged to $9,000, and then subsequently plunged to lows of $250 right as BTC dropped to lows of roughly $8,100.

Although Ethereum has since recovered slightly from these lows and is now expressing some stability at its current price levels, it is important to note that some analysts believe it could face further downwards pressure in the near-future.

DonAlt, a popular cryptocurrency trader on Twitter, expressed a bearish sentiment regarding the cryptocurrency in a recent tweet, noting that he believes it may plunge as low as $200 before finding significant support.

“$ETH Entered a short here, looks very much like a top to me. Target just above 200. If I get stopped out, I’ll flip long and take it to $400 with everyone else,” he noted.

$ETH

Entered a short here, looks very much like a top to me.
Target just above 200.
If I get stopped out, I'll flip long and take it to $400 with everyone else. pic.twitter.com/iSCyNPXnru

— DonAlt (@CryptoDonAlt) May 31, 2019

Although it remains unclear as to whether or not this sentiment is valid based on ETH’s ability to recover slightly from its recent lows, it is highly likely that where it goes next will be at least partially based on how Bitcoin trades in the near-future.

ETH Still Has Strong Fundamentals

While looking away from Ethereum’s price, it is clear that the cryptocurrency still has incredibly strong fundamentals that are significantly improving, and recently released data may lay out a bullish case for ETH’s future.

Binance Research, the research and analytics arm of the popular cryptocurrency exchange Binance, recently elucidated a few key data points regarding Ethereum from a fundamental perspective, noting that its chain is currently seeing a massive surge in active addresses and on-chain transactions.

“A brief look into the Ethereum $ETH chain: Active addresses reaching 10 month high. Daily on-chain transactions reaching 12 month high. Marketcap approaching 8 month high. Can ETH return to its former glory?” They explained in a recent tweet while referencing the below charts.

A brief look into the Ethereum $ETH chain

– Active addresses reaching 10 month high

– Daily on-chain transactions reaching 12 month high

– Marketcap approaching 8 month high

Can ETH return to its former glory? pic.twitter.com/MDK6etAtLj

— Binance Research (@BinanceResearch) May 30, 2019

Although Ethereum’s near-term price action is likely somewhat dependent on that of Bitcoin, its improving fundamentals signal that the markets are recovering from both a price perspective and a fundamental perspective, which may mean that further price gains are imminent.

Featured image from Shutterstock.
Tweet123Share225ShareSend
Cole Petersen
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin

Bitcoin STH-SOPR Metric Reclaims Critical Level — More Pain For Short-Term Holders?

The price of Bitcoin has shown signs of resilience and strength over this weekend after facing significant bearish pressure heading...

Opeyemi Sule 8 hours ago
XRP

Why $50 XRP By December 2025 Isn’t ‘Hopium’ If ETFs Get Greenlight: Analyst

XRP’s price outlook is in focus as the US Securities and Exchange Commission lines up decisions on multiple spot ETF...

Christian Encila 10 hours ago
Ethereum

Ethereum Mirrors Bitcoin Post ATH Movement, As Market Bears Target 20% Correction

Popular crypto analyst and key opinion leader Ted Pillows has outlined an insightful trend in the Ethereum (ETH) market amidst...

Semilore Faleti 12 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Santiment

Santiment Highlights Top Tokens: Bitcoin, Ethereum, And Dogecoin Dominate Social Buzz

Scott Matherson 2 hours ago
Bitcoin price

On-Chain Data Reveals Critical Support Levels For Bitcoin Price — Details

Opeyemi Sule 4 hours ago
Dogecoin ETFs kunnen volgende week starten - meme coin miljonair seizoen?

Dogecoin ETFs kunnen volgende week starten – meme coin miljonair seizoen?

Lars Diederiksen 5 hours ago

Premium Sponsors

Press Releases

  • ドージコイン 今後4ドル到達の可能性、新興ミームプロジェクトが200万ドルICOに迫る

    ドージコイン...

    20 hours ago
  • 仮想通貨おすすめ:新興レイヤー2プロジェクトがプレセールで1,420万ドル突破

    ...

    20 hours ago
  • シバコイン 今後の可能性と、新たに浮上する注目のレイヤー2プロジェクト

    シバコイン...

    20 hours ago
  • ビットコイン 今後の展望:長期眠っていたBTCウォレットが突然52億円分を移動

    ビットコイン...

    23 hours ago
  • パイネットワーク 価格分析:バンド収束から爆発的上昇の可能性、ウォルコフ指標が点灯

    パイネットワーク...

    23 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.