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: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets
  • 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: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets

Ethereum is About to Confirm a Highly Bearish Pattern; Analysts Target $320

Cole Petersen
Cole Petersen
1 year ago
2 mins read

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 trading in close tandem with Bitcoin in recent weeks, but this correlation showed some signs of degrading just a couple of days ago when the cryptocurrency rallied to highs of $410 while BTC remained stuck below $12,000.

This rally proved to be fleeting, however, as it was quickly followed by a massive influx of selling pressure that has since led it to decline below $390.

ETH is now showing some overt signs of weakness as its upwards momentum continues faltering.

This rocky price action has resulted in it forming what appears to be a head and shoulders (H&S) pattern.

There’s a possibility that this pattern will be confirmed in the near-term, as a break below its neckline around $380 is all it would take.

If confirmed, one analyst is noting that a move to $320 could be imminent.

Ethereum Shows Signs of Weakness as Selling Pressure Mounts

At the time of writing, Ethereum is trading down nearly 6% at its current price of $385. This marks a notable decline from daily highs of just under $410 that were set yesterday afternoon.

Today’s decline has been brutal for Ethereum, as the cryptocurrency’s price reeled down towards $380 before it was able to find some support that led it up to its current price.

If this downwards momentum pushes the crypto below this support level, it could be poised to see significant losses in the near-term.

That being said, bears may not have enough strength to degrade the buying pressure that sits here, as the previous attempt to break this level that was seen last week failed.

Where Ethereum trends in the coming hours will likely depend on Bitcoin, as the benchmark cryptocurrency is currently sitting just above its key support at $11,400.

This Bearish Pattern Could Cause ETH to See Major Downside

One analyst has been closely watching a head and shoulders pattern that Ethereum has been developing throughout the past several weeks.

This pattern will be confirmed if the crypto breaks below its neckline at $380, with the analyst putting forth a downside target of $320.

“Still watchin’ the H&S brew,” he noted while pointing to the chart seen below.

Ethereum

Image Courtesy of Josh Olszewicz. Chart via TradingView.

Because this highly bearish pattern is on the cusp of being confirmed, bulls must step up and slow Ethereum’s decline in the coming few hours.

Featured image from Unsplash.
Charts from 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

Analyst Says XRP Price Not Reaching $10+ Due To Market Cap Is Irrelevant

The arguments for the XRP being able to reach $10+ or not have ranged from how high the market cap...

Scott Matherson 4 hours ago
Cardano, ADA, Charles Hoskinson

ADA Holds $0.90 Support As Hoskinson Says Cardano Will ‘Break The Internet’

Charles Hoskinson has affirmed that Cardano (ADA) will steal the crypto spotlight as the altcoin attempts to hold a crucial...

Rubmar Garcia 6 hours ago
Dogecoin

Dogecoin Ready To Bark Again? Analyst Sees Path To $0.45

An analyst has pointed out how Dogecoin could see a rally to $0.36 or even $0.45 if its price can...

Keshav Verma 7 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

X

X Blows The Lid Off Bribe Scandal In Crypto Account Restorations

Christian Encila 3 minutes ago
Bitcoin price

Bitcoin Price Drops To $115K After Rate-Cut Rally — But BTC Far From Capitulation

Opeyemi Sule 7 minutes ago
Ethereum

Bitmine’s Ethereum Appetite Grows With Fresh $70 Million Buy

Christian Encila 3 hours ago

Premium Sponsors

Press Releases

  • パイネットワーク...

    37 minutes ago
  • Cele mai bune altcoin-uri de cumpărat, pe măsură ce prețul Solanei se apropie de maximul istoric

    Cele mai bune altcoin-uri de cumpărat, pe măsură ce...

    2 hours ago
  • Cele mai bune meme coin-uri de cumpărat acum, pe măsură ce capitalizarea pieței se apropie de 1,9 trilioane RON

    Cele mai bune meme coin-uri de cumpărat acum, pe măsură...

    2 hours ago
  • Cele mai bune meme coin-uri de cumpărat acum, pe măsură ce capitalizarea pieței se apropie de 1,9 trilioane RON

    Nejlepší meme coiny k nákupu nyní, když se tržní...

    2 hours ago
  • Cele mai bune altcoin-uri de cumpărat, pe măsură ce prețul Solanei se apropie de maximul istoric

    Nejlepší altcoiny k nákupu, když se cena Solany...

    2 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.