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: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30
  • 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: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30

Ethereum Could See A 15% Drop This Week – A Retreat To The $1,000 Support?

Christian Encila
Christian Encila
2 years ago
3 mins read
Ethereum price

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 is having a good week, staying in the green zone of the crypto space for the past seven days and raising its price by 3.7%.

  • Ethereum is currently caught in an inverted pennant pattern
  • A resumption of the bearish trend is highly possible for the altcoin
  • $1,130 might be new support marker for Ethereum

The second largest cryptocurrency by market capitalization is currently trading at $1,324 according to Coingecko at the time of this writing while its 24-hour trading volume stands at a little over $5 billion.

But the widely recognized king of all altcoins and its investors should consider staying on their toes as analysts believe that the asset is headed for a significant price correction and bearish momentum.

This development once again contradicts bullish expectations for the crypto after successfully undergoing network upgrade last month.

Related Reading: How This Crypto Pulled Off A Surprise 60% Rally In This Area – Find Out Here

Ethereum And Its Bearish Price Pattern

The inverted pennant pattern is where the Ethereum price has been revolving for the past days, with the crypto in danger of being out into an accelerated bearish momentum.

Source: TradingView

Under this pattern, a triangle formation appears where the price peaks before breaking the bottom support trendline and resumes its prior downtrend.

In Ethereum’s case, such a scenario would mean breaking the $1,250 support level all the way to $1,130. If that happens, the altcoin could be looking at a price drop of up to 14.3%.

However, there is a possibility that the reverse would happen and Ethereum will shatter the support overhead trendline which will prevent the looming bearish run of Bitcoin’s nemesis.

Related Reading: Ethereum Price Looking At Possible Downward Shift – More Headaches Ahead For ETH?

Bad Time To Buy Ethereum?

The negative news just keeps coming for Ethereum as crypto tracking tool Coincodex concluded it is not a good time to invest in the altcoin right now.

Come October 16, the digital asset is expected to lose 7.12% of its value and trade at $1,237.79. Technical indicators are also looking bad for the crypto, as its current sentiment is bearish and volatility remains high.

As for its Fear and Greed Index, Ethereum gained a score of 22, which indicates there is extreme fear. Also, out of 30 days, the cryptocurrency only managed to have 12 green days, equivalent to 40%.

Meanwhile, next year appears to be more promising for the altcoin king, as it is projected to end the year with a trading price of $2,156.26 which is significantly higher than its current value.

On that account, experts are saying that 2023 is a good year to buy the asset.

ETH total market cap at $160.36 | Featured image from Local News Today, Chart: TradingView.com
Tweet123Share196ShareSend
Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Close

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

Bitcoin Price Stabilizes

Bitcoin Price Stabilizes – Is This the Start of a Comeback?

Bitcoin price is still showing bearish signs below $112,000. BTC is now attempting to recover and might face hurdles near...

Aayush Jindal 2 hours ago
solana-reserve-slowdown-funds-shift-to-emerging-crypto-stocks-tw

Solana儲備機構擴張遇冷:資金轉向新興低價加密股押注成市場新焦點

在加密市場多頭與機構化浪潮重疊的背景下,Solana作為一線公鏈的機構採用進程正加速推進。然而,儘管多家機構紛紛入場、大型資金部署不斷啟動,Solana相關財庫公司與幣價的表現卻未如預期,反映出整體生...

Peter Chow 2 hours ago
Bitcoin

If This Key Support Fails, Bitcoin Could Plummet To $90,000, Warns Leading Analyst

The recent downturn in Bitcoin prices has raised eyebrows among market analysts, with one prominent figure warning that the leading...

Ronaldo Marquez 3 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

Ethereum Recovery Could Face Hurdles

Ethereum Recovery Could Face Hurdles – Can Bulls Overcome Resistance?

Aayush Jindal 1 hour ago
Ethereum, ETH, Crypto

No Ethereum Rally Until Q4? Analyst Eyes Choppy September Before New Highs

Rubmar Garcia 1 hour ago
Bitcoin

Bitcoin Finds Support At Short-Term Holder Cost Basis, But For How Long?

Keshav Verma 2 hours ago

Premium Sponsors

Press Releases

  • LinkLogis Partners with XRP Ledger: DOT Miners Create Up to...

    6 hours ago
  • Arthur Hayes 3 altcoint fedez fel 100-szorosra 2028-ra

    Arthur Hayes 3 altcoint fedez fel 100-szorosra 2028-ra

    8 hours ago
  • Następny Meme Coin 100x w przedsprzedaży? PEPENODE może przyćmić Pepe w 2025 roku

    Następny Meme Coin 100x w przedsprzedaży? PEPENODE może...

    8 hours ago
  • Arthur Hayes odhaluje 3 altcoiny na 100× do roku 2028

    8 hours ago
  • Предварителна продажба на следващия 100× мемкойн? PEPENODE може да засенчи Pepe през 2025 г.

    Предварителна продажба на...

    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.