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: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • 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: Coinbase Confirms DOJ Investigation Following Major Security Incident

Analyst on Why Ethereum’s Bullish Market Structure Is Intact After Strong Drop

Nick Chong
Nick Chong
4 years ago
3 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.

Like most other crypto assets, Ethereum has slipped lower over the past four days. After peaking on Monday, all cryptocurrencies have retraced as Bitcoin has fallen lower seemingly due to a rise in the value of the U.S. dollar against foreign currencies.

Ethereum has actually underperforming Bitcoin in this retracement, dropping around 11.5% from its year-to-date highs as opposed to just 7%. This seems to be the case with all altcoins, whereas capital flooded to BTC during the correction as investors sought safety.

Despite some fearing this downtrend is set to continue, an analyst has noted that Ethereum still has a bullish market structure. This market structure could fuel a move back to the upside.

Related Reading: Crypto Tidbits: MicroStrategy’s $250m Bitcoin Purchase, Ethereum DeFi Boom, BitMEX KYC

What’s Next for ETH?

According to a pseudonymous analyst, ETH is still in a good spot against Bitcoin. He shared the chart below on August 22nd to explain his sentiment; it shows that Ethereum is still trading above important levels against Bitcoin, including 0.032 BTC.

“My thoughts on $ETHBTC here: Bullish MS still clearly intact, dips are for buying. Clean sweep & reclaim of the 0.032 is my trigger, targeting 0.042 & 0.053.”

Image

Chart of ETH's price action against Bitcoin since the start of the year with analysis by trader CryptoTrooper (@Cryptotrooper_ on Twitter). Chart from TradingView.com

This bullish sentiment is actually contrarian; that’s to say, most analysts are actually bearish on Ethereum at the moment.

Another trader noted that the recent drop in the ETH/BTC pair is actually more technically damaging than depicting above. “Looks like a local top,” one quipped in reference to the indicators. “Daily RSI and low tf ema are bearish and so is weekly stochastic RSI.”

Imminent Bitcoin Volatility Could Hurt Ethereum

Bears may actually have the upper hand, especially considering the volatility Bitcoin is likely to soon undergo.

Brave New Coin analyst Josh Olszewicz shared the chart below last week. While it does not factor in the recent correction, it shows that the Bollinger Bands on Bitcoin’s medium-term chart are getting tight once again.

Image

Chart of BTC's price action over the past year with the Bollinger Bands indicator by trader Josh Olszewicz (@CarpeNoctum on Twitter). Chart from Tradingview.com Ethereum

The Bollinger Bands is an indicator that denotes important technical price levels along with the volatility of a market. It can be used on any market, from Bitcoin and Ethereum to stocks and bonds.

Per Olszewicz’s analysis, the width of the Bands is reaching a level historically seen prior to a spike in volatility. Last time the indicator was this tight was in February 2020, just prior to the March capitulation event.

As altcoins like Ethereum thrive when Bitcoin volatility is low, a spike in that volatility could hurt this segment of the cryptocurrency market.

Related Reading: Crypto Tidbits: Dave Portnoy Drops Bitcoin, Tether Supports Ethereum’s OMG Network, DeFi Still Hot
Featured Image from Shutterstock
Price tags: ethusd, ethbtc
Charts from TradingView.com
Analyst on Why Ethereum's Bullish Market Structure Is Intact After Strong Drop
Tweet123Share196ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

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 Price Readies for Takeoff

Ethereum Price Readies for Takeoff — Bulls Eye Fresh Highs

Ethereum price started a fresh increase above the $2,485 zone. ETH is now consolidating gains and might soon aim for...

Aayush Jindal 11 hours ago
Strong Ethereum Accumulation Detected: LTH Buying Heavy During June Consolidation

Strong Ethereum Accumulation Detected: LTH Buying Heavy During June Consolidation

Ethereum is trading above $2,400 after enduring several days of volatility and uncertainty. The price has managed to stabilize despite...

Sebastian Villafuerte 15 hours ago

Top Analyst Prevede uno slancio Importante di Ethereum Verso 4,000 $

Mentre Ethereum (ETH), la seconda criptovaluta per capitalizzazione di mercato, fatica a mantenere lo slancio sopra il livello chiave di...

clararosati 1 day 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

BitMine

BitMine Stock Soars 700% After $250 Million Raise For Ethereum Treasury

Ronaldo Marquez 1 hour ago
Ethereum price news

Ethereum Just Got Its MicroStrategy—Tom Lee Bets On Soaring ETH Price

Jake Simmons 5 hours ago
Ethereum

Ethereum At Risk? If $2,200 Cracks, $1,160 May Be Coming

Keshav Verma 9 hours ago

Premium Sponsors

Press Releases

  • 今が狙い目の割安アルトコイン特集|注目すべき銘柄をチェック!

    ...

    42 minutes ago
  • 仮想通貨プレセール終了間近|上場価格で購入できる最後の7日間がスタート

    ...

    57 minutes ago
  • From traditional mining to smart contract mining, XRP...

    1 hour ago
  • 初の国家デジタル通貨銀行で銀行業界が新時代へ:今買うべき仮想通貨おすすめとは?

    ...

    1 hour ago
  • 新しい仮想通貨プレセール開始|次世代の革新的ミームコインが登場か?

    ...

    1 hour ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

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.