• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America

Pattern Shows Ethereum Could Be Ready to Surge Despite Pullback

Cole Petersen by Cole Petersen
3 years ago
in ETH
Reading Time: 2 mins read

Ethereum could be on the cusp of seeing a strong push higher in the near-term despite its recent weakness.

Over the past 24-hours, the cryptocurrency has seen some intense weakness, with the lack of intense buying pressure at $400 opening the gates for intense downside after Bitcoin saw a sharp selloff.

ETH is now showing signs of forming a bottom in the lower-$380 region. This level has held strong on multiple occasions throughout the past few days and weeks, with $380 long being a pivotal level for the cryptocurrency.

So long as this level continues holding strong, it may form a double bottom and see further upside in the near-term.

One analyst is now pointing to a few key patterns that suggest ETH is bound to see some notable upside in the near-term.

He notes that its 4-hour cloud is printing the same pattern seen just before the surge from $360 to $420.

If history rhymes, these patterns indicate that Ethereum could be on the cusp of seeing a serious push higher despite its recent weakness.

Ethereum Forms Potential Bottom Around $380 as Buyers Step Up

Bitcoin saw a notable decline from its recent highs of $13,800 yesterday, with the resistance at this level proving to be too significant for bulls to break.

It dropped as low as $12,800 this morning before seeing a notable rebound that sent it surging back up to the lower-$13,000 region.

This created shockwaves that forced Ethereum lower as well, with the slight support it had at $400 shattering, causing it to plunge all the way down to $380.

Bulls have defended this level ardently thus far, and it could be forming a double bottom here.

Analyst: This Pattern Suggest ETH Could Soon See a Serious Push Higher 

While sharing his thoughts on Ethereum’s current technical outlook, one analyst explained that he expects it to see some upside in the near-term due to a few bullish patterns he observed.

One such pattern is seen while looking towards its 4-hour cloud, but this pattern will only be validated if the crypto can break back above $391.

“Some bull hopium for ETH. 4h Cloud showing the same pattern before we pumped from 364 to 420. Price riding the 2D Cloud and it just printed a bullish TK-Cross,” he said while pointing to the below chart.

Ethereum

Image Courtesy of Smokey. Source: ETHUSD on TradingView.

Ethereum will likely track Bitcoin’s price action in the near-term, but there’s a high likelihood that ETH will continue underperforming the benchmark cryptocurrency.

Featured image from Unsplash.
Charts from TradingView.
Tags: ethbtcethusdETHUSDT
Tweet123Share196ShareSend
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.

Related Posts

Ethereum

Ethereum Price Smashes Resistance, $1,900 Could Be Next

10 hours ago
Ethereum Price ETH

Ethereum Price Topside Bias Vulnerable If It Continues To Struggle Below $1,920

1 day ago
TA: Ethereum Key Indicators Suggest Strengthening Case For More Upsides

Ethereum Price is Primed For a Rally And Only 1 Thing is Holding it Back

2 days ago
Ethereum Price

Ethereum Price Key Indicators Suggest A Strengthening Case For Surge To $2K

3 days ago
Ethereum

Ethereum Price Gearing For Another Lift-Off to $2K: Recovery Isn’t Over Yet

4 days ago
Ethereum Price

Ethereum Price Could See “Liftoff” If ETH Clears This Resistance

1 week ago

Premium Partners

Play Finance

Now Trending

  • Potential 20x+ Crypto Presales 2023

    2 days ago
  • Willing to buy new crypto: Here are the best 10...

    2 days ago
  • Best Crypto Meme Coin Presales in 2023

    2 days ago

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

  • LUNC developers showcase Parity Upgrade Roadmap and...

    26 mins ago
  • These Two Projects are the Future of Web3: Launchpad XYZ...

    1 hour ago
  • $WSM Hype Peaks as the Presale Blasts Past $1.5 Million in...

    3 hours ago
  • Dogecoin Volatility Set to Erupt: Wall Street Memes and...

    3 hours ago
  • XRP to hit 5$ Dogecoin chart suggests volatility Tradecurve...

    4 hours ago

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.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Claim 7 BTC

© 2023 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.