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: ‘Crypto Week’ Takes A Hit: US House Fails To Advance Key Acts
  • 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: ‘Crypto Week’ Takes A Hit: US House Fails To Advance Key Acts

Ethereum Price Recovers but A Strong Bearish Indicator Could Play Spoiler

Yashu Gola
Yashu Gola
1 year ago
2 mins read
ethereum, ether, crypto, cryptocurrency, bitcoin

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 was trading in a positive area this Wednesday after rising about 5 percent on a 24-hour adjusted timeframe.

The second-largest cryptocurrency settled a new intraday high at circa $286, becoming one of the top-performing assets in the wake of a market-wide upside recovery. At its lowest, Ethereum was trading at $256 earlier this week, according to data fetched from US crypto exchange Coinbase.

ethereum, ether, crypto, cryptocurrency, bitcoin
Ethereum rebounds impressively across the leading retail exchanges | Source: TradingView.com

The asset’s move uphill prompted traders to expect an extended bullish momentum. Prominent analyst Nico wrote in an analysis published earlier today that the Ethereum price could push towards $300 in the coming sessions, citing the level’s relevance during the 2019 bull run.

$ETH / $USD

Crossed over ~275$ on quite straight up movement since mid january w/ increasing volume (levels back to '19 bullrun that lead to $300 mark😏)

Looking here for a potential retest & R/S flip as entry & signal confirmation of a new leg up w/ target at $300+#ETH pic.twitter.com/FrOqdB6cYS

— Nico (@CryptoNTez) February 19, 2020

The jump also led market expert Alex Krüger to say that traders are actively accumulating Ethereum tokens over the past week. The economist noted that the crypto’s average trading volume in the past seven days was four times larger than that recorded in the second half of 2019, adding:

“Somebody has been buying a lot of ETH.”

Double Top

Ethereum’s jump to $286 also led to the possibilities of a Double Top formation. It is an extremely bearish technical reversal pattern that occurs when an asset reaches a local top two consecutive times with minor declines in between. So it appears, Ethereum’s price action this week was somewhat similar.

ethereum, ether, crypto, cryptocurrency, bitcoin
Double top brewing on Ethereum charts | Source: TradingView.com, Coinbase

The two purpled curves as shown in the chart above are two consecutive tops. Based on textbook definitions, Ethereum is now testing $247 as its next support. A double top pattern eyes validation only if the crypto’s price breaks below the said downside target. Should it happen, the pressure to maintain the upside bias will fall on the new support range of $203-233.

So far, a Double Top formation typically has led to bullish reversals in traditional financial instruments, which include stocks of Amazon and Netflix, as well as Gold and Oil.

Ethereum 1D Chart

The interim drop could still sustain Ethereum’s medium-term bias – which is bullish. The crypto is up by more than 140 percent after it bottomed out near $118 in December last year, which is likely to continue owing to the booming DeFi craze.

ethereum, crypto, cryptocurrency
Higher chance for consolidation before the next move up | Source: TradingView.com, Coinbase

Even then, the crypto could consolidate in the redded rectangle area before it gathers breath to continue another bull run. That said, a fall towards $250 would follow a bounce back towards $288 which, in turn, could have traders target $334 as their primary upside target.

Conversely, breaking below the ascending support trendline (in green) could spell troubles for bulls. Should that happen, Ethereum could fall towards $200.

Tweet123Share218ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

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

XRP Price Clings to Support

XRP Price Eyes Fresh Gains: Traders Bullish After Momentum Spike

XRP price started a fresh increase and traded above the $3.00 zone. The price is now correcting gains and might...

Aayush Jindal 1 hour ago
Ethereum Flexes Muscle

Ethereum Flexes Muscle, Outperforms Bitcoin Amid Market Momentum

Ethereum price started a fresh increase above the $3,020 zone. ETH is now consolidating gains and might correct lower toward...

Aayush Jindal 2 hours ago
Bitcoin price whale news

Bitcoin OG Whale Moves 40,000 BTC To Galaxy, Triggering Market Shock

A single wallet that has sat untouched since 2011 jolted the market overnight, wiring 40,009 BTC—worth roughly $4.68  billion at prevailing prices—to...

Jake Simmons 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

Dormant Bitcoin Wallet Moves $1.2B in BTC: Is A Major Sell-Off Coming?

Dormant Bitcoin Wallet Moves $1.2B in BTC: Is A Major Sell-Off Coming?

Samuel Edyme 8 minutes ago
BNB Price Slips as Peers Climb

BNB Price Stalls: Struggles to Resume Gains While Altcoins Rally

Aayush Jindal 20 minutes ago

Bitcoin Profit-Taking Spikes Without Price Drop – Strong Demand Or Delayed Reaction?

Ash Tiwari 1 hour ago

Premium Sponsors

Press Releases

  • e 3 coiny poniżej 1 dolara mogą zamienić 200 dolarów w...

    9 hours ago
  • ミームコインの価格急騰が続く中、注目の仮想通貨プレセールが50万ドルを突破し、次の100倍コインになる可能性がある。

    ...

    15 hours ago
  • 仮想通貨おすすめ|ビットコイン強気派の一休み中に買うべき銘柄

    ...

    15 hours ago
  • 2025年注目の新しい仮想通貨|Solana発 次世代ミームコインが投資家の期待を集める

    2025年注目の新しい仮想通貨|Solana発...

    15 hours ago
  • 2025年7月第2週にクジラが購入した注目のアルトコイン

    ...

    15 hours 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.