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: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow
  • 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: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow

This Technical Pattern Could Send Ethereum to New Yearly Highs

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 closely tracking Bitcoin’s price action throughout the past several days and weeks.

This has made it exposed to some near-term downside, as BTC is currently sitting just a hair above the lower boundary of its long-held trading range between $9,000 and $10,000.

It appears that ETH has been forming a bullish technical formation throughout the past several weeks, which could bolster its mid-term outlook.

The same pattern was formed in early-May when it was trading within the lower-$200 region. If this pattern results in a similar rally, it could send the crypto past its previously established 2020 highs at $290.

The next uptrend could also be perpetuated by the growing amount of Ethereum that is locked within DeFi protocols. This could alleviate the selling pressure placed on the asset.

Ethereum’s Technical Outlook is Growing Brighter

At the time of writing, Ethereum is trading down marginally at its current price of $233. This is around the level at which the crypto has been trading throughout the past several days.

ETH has been closely tracking Bitcoin’s price action, which is the primary reason why it is currently trading at the lower end of its trading range between $230 and $250.

Sellers have tried to force the token below its near-term support, but the buying pressure established here has proven to be quite significant.

Where it trends next may largely depend on whether or not buyers can start pushing it back up towards the upper end of its range.

Because it has formed a striking correlation to Bitcoin throughout the past few weeks, the benchmark crypto’s price action will also hold sway over it.

One analyst recently explained that Ethereum is on the cusp of confirming a bullish technical pattern that may allow it to see some serious upside in the coming weeks.

In a tweet, the trader noted that an inverse head and shoulders pattern seen while looking towards its weekly chart is forming.

He added that an explicit confirmation of this pattern could be enough to send Ethereum surging to fresh yearly highs.

“A pattern we have already seen recently is developing for ETH which can push it to new highs.”

Ethereum

Image Courtesy of Wolf. Chart via TradingView.

DeFi’s Continued Growth to Boost Ethereum

The growth seen by the DeFi sector could also start having tangible impacts on Ethereum’s price action.

Another analyst spoke about this in a recent tweet, explaining that the amount of ETH locked within protocols is climbing.

“Visualization: ETH Locked in DeFi Platforms. Currently, some outside speculation are saying DeFi is a bubble, but honestly users and tokens locked has been climbing the past two years steadily on ETH… Likely DeFi is the first mainstream adoption channel.”

Image Courtesy of Cactus.

This will lessen the selling pressure placed on the crypto and reduce its circulating supply – both of which bode well for bulls.

Featured image from Shutterstock.

Charts and pricing data via 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

MoneyGram Launches Stablecoin App to Reinvent Cross-Border Finance: Is Best Wallet Better?

MoneyGram Launches Stablecoin App to Reinvent Cross-Border Finance: Is Best Wallet Better?

MoneyGram is launching its own entry into the digital custody space with an app designed to hold both traditional fiat...

Aaron Walker 2 hours ago
hyperliquid hype hypeusd

Hyperliquid Hits New All-Time High: Will Momentum Push HYPE Into a Higher Range?

Hyperliquid’s native token, HYPE, extended its rally on Thursday, jumping over 8% to trade near $58.77. The move comes after...

James Halver 3 hours ago

Ethereum potrebbe puntare ai 10.000 $: ecco perché tanti analisti sono ottimisti

Ethereum, la seconda criptovaluta più importante dopo Bitcoin, sta vivendo un momento decisivo. Secondo l’analista Cantonese Cat (@Cantonmeow), ETH potrebbe...

Orfeo Barone 4 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

Bitcoin

Bitcoin Bulls Eye Next Big Move As Price Nears $118,000, New ATH In Sight?

Godspower Owie 18 minutes ago
XRP

How The XRP Price Can Go To $100 And What Is Required To Reach $1,000

Scott Matherson 1 hour ago
XRP Price Recovery in Focus

Pundit Shares ‘XRP Endgame’: What To Watch Out For With Ripple

Sandra White 2 hours ago

Premium Sponsors

Press Releases

  • 4 tokeny gotowe na ogromny wzrost, które mogą wyprzedzić Shiba Inu (SHIB) w następnym rajdzie byków

    4 tokeny gotowe na ogromny wzrost, które mogą wyprzedzić...

    1 hour ago
  • Биткойн отново на $117K след намаляване на лихвите – Отварят ли се вратите за покупки, докато Bitcoin Hyper ICO надхвърля $16,5M

    Биткойн отново на $117K след...

    3 hours ago
  • Етериум се насочва към 5 000 USD: 5...

    3 hours ago
  • Masívne pálenie tokenov pokračuje vo Wall Street Pepe

    Masívne pálenie tokenov pokračuje vo Wall Street Pepe...

    3 hours ago
  • ドージコイン 今後の価格予測:2021年以来の強気シグナル点灯、1ドル到達への300%上昇も視野に

    ドージコイン...

    4 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.