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: Bitcoin Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%
  • 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: Bitcoin Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%

This Chart Shows Ethereum Is Gearing Up for a Major Breakout Rally

Cole Petersen
Cole Petersen
1 year ago
2 mins read
Ethereum

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 has been trading in close tandem with Bitcoin throughout the past several days and weeks, and this correlation isn’t showing any signs of breaking.

It now appears that buyers may be laying the groundwork for ETH to see a notable upswing, however, as the crypto is currently on the cusp of breaking above a crucial support level.

Much of this strength could come from the buyers’ continued ability to hold it above $238.

One analyst is noting that he is now closely watching to see how ETH responds to the resistance that sits around $246. He explains that a firm break above this level could spark an intense rally that leads it towards the upper-$200 region.

Ethereum Buyers Attempt to Defend Crucial Support

At the time of writing, Ethereum is trading down marginally at its current price of $237.

This is around the level at which it has been trading throughout the past several days and weeks, with buyers struggling to garner any clear momentum in either direction.

This sideways trading is mostly the result of Bitcoin’s prolonged bout of consolidation within the lower-$9,000 region.

Until BTC gains some clear momentum, it is highly likely that Ethereum will continue consolidating as well.

One crucial level to watch in the near-term is $238, as bulls have ardently defended this support in recent times.

It now appears that this level is at risk of being broken.

If Ethereum closes its daily candle below here, it could be a sign that it will drift down towards the lower boundary of its trading range around $130.

Assuming that it can end the day above this level, one analyst is noting that $246 is the resistance level that must be shattered to fuel a breakout rally.

“ETH LTF Update: For the past 7 days it seems bears have failed to break back below $238 with any conviction, thinking we are currently in mini accumulation before another leg up… If bulls can take out $246 then momentum should take us a lot higher, expecting a breakout soon.”

Ethereum

Image Courtesy of Cactus. Chart via TradingView.

ETH’s Macro Outlook Against BTC is Incredibly Bright

As NewsBTC reported last week, analysts are widely bullish on Ethereum’s macro outlook against Bitcoin.

One prominent Ethereum skeptic cited in the report even noted that he is long on ETH/BTC despite believing ETH has “extremely problematic fundamentals.”

“ETH/BTC technicals are looking bullish so I’m long. (I still think ETH has extremely problematic fundamentals.)”

Image Courtesy of Tuur Demeester. Chart via TradingView.

How Ethereum reacts to $238 in the coming days should also provide some insight into the validity of its overt strength against its Bitcoin trading pair.

Featured image from Shutterstock.

Charts from TradingView.
Tweet123Share196ShareSend
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

Crypto

Crucial Ten Days Ahead For Crypto: Will They Ignite Mega Altcoin Season?

As Bitcoin (BTC) leads the ongoing consolidation phase in the crypto market, analysts are closely watching the next ten days...

Ronaldo Marquez 1 hour ago

SkinsLuck透明化改革引爆CS2賭場革命 黑箱時代結束玩家不再盲賭

當CS2皮膚價值在2025年持續飆升,過去那種以「隨機算法」為名的黑箱操作,終於開始崩解。SkinsLuck的重新登場,正是在這樣的背景下打開一條新路。這不是單一網站的成功,而是一種邏輯的轉向——從模...

Kelvin Lee 2 hours ago
Ethereum Price Looks Tired

Ethereum Price Looks Tired – Could Upside Momentum Fade Soon?

Ethereum price started a fresh decline from $4,765. ETH is now trading below $4,650 and might extend losses if it...

Aayush Jindal 2 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

Solana (SOL) Corrects Some Gains

Solana (SOL) Corrects Some Gains – Is a Bigger Pullback Coming?

Aayush Jindal 49 minutes ago
Altcoin, solana

Helius Joins Solana Treasury Trend With $500 Million Funding For New DAT Strategy

Rubmar Garcia 58 minutes ago
XRP Price Slips Under $3

XRP Price Slips Under $3 – Can Bulls Stage a Quick Rebound?

Aayush Jindal 1 hour ago

Premium Sponsors

Press Releases

  • 5 kryptoměn, které je třeba sledovat v listopadu kvůli potenciálnímu růstu o 5 000 %

    5 kryptoměn, které je třeba sledovat v listopadu kvůli...

    8 hours ago
  • Kterou kryptoměnu koupit nyní | Nejlepší kryptoměny k investování v roce 2025

    Kterou kryptoměnu koupit nyní – Nejlepší...

    9 hours ago
  • 5 kriptovaluta koje treba pratiti u studenom zbog potencijalnog rasta od 5.000%

    5 kriptovaluta koje treba pratiti u studenom zbog...

    9 hours ago
  • Nejlepší altcoiny k nákupu před rozhodnutím FEDu 17. září o úrokových sazbách

    Nejlepší altcoiny k nákupu před rozhodnutím FEDu 17...

    9 hours ago
  • Najlepšie kryptomeny na investíciu v roku 2025

    Ktorú kryptomenu kúpiť teraz | Najlepšie kryptomeny na...

    9 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.