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: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets
  • 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: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets

Here’s Why Ethereum Could Start Nosediving to $170 This Week

Cole Petersen
Cole Petersen
5 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.

Ethereum’s weakness as of late has primarily been rooted in that seen by Bitcoin.

From a fundamental perspective, the cryptocurrency is arguably at one of its strongest points ever, with daily transactions recently breaking 1 million while its userbase sees massive growth.

This strength has not translated into positive price action yet, as all of the profits within the Ethereum ecosystem have been limited to the booming DeFi sector.

It is a strong possibility that some of these profits will cycle into ETH, but it remains unclear as to how long it might be before this takes place.

In the near-term, analysts do believe Ethereum is positioning to see further weakness as it continues underperforming Bitcoin.

One analyst is even noting that a break below the crucial support that it is currently hovering above could be all that is needed to send it reeling to below $170. This decline could come about in the next few days if buyers continue losing their strength.

Ethereum Has Yet to Enter a Downtrend Despite Recent Losses

At the time of writing, Ethereum is trading up roughly 2% at its current price of $225, marking a notable climb from recent lows of $220 that were set at the bottom of yesterday’s selloff.

This movement came about in tandem with that seen by Bitcoin. The benchmark crypto plunged to lows of $8,900 yesterday before finding some buying pressure that helped guide it back into its multi-week trading range.

Ethereum, however, has been trading below its range for the past several days and has not been able to break back into it despite the upwards momentum stemming from yesterday’s rebound.

This is an overtly bearish sign that demonstrates how ETH has been underperforming BTC over the past few days.

The crypto’s Renko chart is now indicating that it has still yet to enter a downtrend despite its recent losses.

A few key indicators on the chart also indicate that the next movement will be large and may favor bears. One analyst spoke about this in a recent tweet, saying:

“12h divergence on ETH. They don’t occur too often but have always been strong signals. A ‘play out’ of the divergence only happens on a cross of the Oscillator. So basically, we’ve not begun the downmove yet.”

Ethereum

Image Courtesy of Crypto Michael. Chart via TradingView

Why ETH Could Soon Nosedive to $168

Another analyst echoed this bearish sentiment, explaining that although the crypto is holding above its key support, it could still see some notable downside if buyers fail to continue defending it.

He contends that it will target $250 if this support holds, and $168 if it falters.

“Ethereum: Still on the road and at support. Previous OB and Resistance being tested as support and currently holding. Holding = new test of $250 and likely breakout towards $290 / $330. Losing = test around $168-173.”

Image Courtesy of Crypto Michael. Chart via TradingView
Featured image from Shutterstock.

Charts from TradingView.
Tweet123Share207ShareSend
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.

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

Ethereum

Institutional Ethereum Staking On The Horizon As Grayscale Prepares Move — Details

Institutional staking may soon receive a significant boost as reports emerge that Grayscale is preparing to stake its substantial Ethereum...

Godspower Owie 1 day ago
Ethereum

Ethereum Price Will Still Climb Above $5,000 As Long As It Holds This Level

The Ethereum price has spent the past weeks stuck in a wide consolidation zone, testing bullish momentum as analysts anticipate...

Scott Matherson 1 day ago
Ethereum Price Squeezes Tight

Ethereum Price Squeezes Tight – Watch Out for Sudden Breakout Anytime

Ethereum price started a fresh increase above $4,550. ETH is now consolidating and might attempt to clear the $4,640 resistance....

Aayush Jindal 2 days 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

Ethereum

Ethereum Taker Buy-Sell Ratio Falls Critically Low—What Happened Last Time?

Opeyemi Sule 5 hours ago
Ethereum

Ethereum (ETH) Mirrors 2021 Price Action As Bulls Target $10,000 By 2026

Semilore Faleti 9 hours ago
Ethereum

Bitmine’s Ethereum Appetite Grows With Fresh $70 Million Buy

Christian Encila 1 day ago

Premium Sponsors

Press Releases

  • パイネットワーク...

    1 day ago
  • Cele mai bune altcoin-uri de cumpărat, pe măsură ce prețul Solanei se apropie de maximul istoric

    Cele mai bune altcoin-uri de cumpărat, pe măsură ce...

    1 day ago
  • Cele mai bune meme coin-uri de cumpărat acum, pe măsură ce capitalizarea pieței se apropie de 1,9 trilioane RON

    Cele mai bune meme coin-uri de cumpărat acum, pe măsură...

    1 day ago
  • Cele mai bune meme coin-uri de cumpărat acum, pe măsură ce capitalizarea pieței se apropie de 1,9 trilioane RON

    Nejlepší meme coiny k nákupu nyní, když se tržní...

    1 day ago
  • Cele mai bune altcoin-uri de cumpărat, pe măsură ce prețul Solanei se apropie de maximul istoric

    Nejlepší altcoiny k nákupu, když se cena Solany...

    1 day 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.