• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Ethereum

Ethereum Is About to “Moonshot” After Surging Past This Key Level

Cole Petersen by Cole Petersen
1 year ago
in Ethereum, Cryptocurrency news
Reading Time: 2min read
Ethereum ETH
Advertisement

Ethereum (ETH) may be on the cusp of seeing a massive parabolic rally, with the crypto’s recent bullishness laying the groundwork for what could be a violent upwards movement.

The firm uptrend that ETH has been caught within throughout 2020 has allowed it to slowly grind up towards the $200 level – a price region that has not been seen since September of last year.

Analysts are now widely noting that ETH’s decisive break above $200 could lead to a “moonshot” rally, with a recently formed technical formation also suggesting that ETH could be on the cusp of seeing parabolic returns.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Ethereum Smashes Through $200 as Analysts Eye a “Moonshot” Rally 

At the time of writing, Ethereum is trading up just under 10% at its current price of $204.81, which marks a massive climb from daily lows of $188 that were set just prior to the momentum that was incurred earlier this morning.

This bull-favoring momentum has come about in tandem with Bitcoin’s climb to highs of $9,800, which appears to be a near-term resistance region for the cryptocurrency.

It is important to note that $200 was previously a critical resistance region for Ethereum, and its decisive break above this level seems to suggest that its 2020 rally is about to turn parabolic.

Crypto Rand – a highly respected cryptocurrency analyst on Twitter – explained in a recent tweet that investors should expect a “moonshot” if ETH decisively breaks through $200.

“If ETH breaks $200 expect a moonshot,” he said while pointing to the chart seen below.

If $ETH breaks $200 expect a moonshot pic.twitter.com/36hBdyQNxO

— Crypto Rand (@crypto_rand) February 5, 2020

While looking at this chart, it does seem as though Ethereum’s next resistance region exists around $230.

This Technical Pattern Suggests ETH’s Rally is About to Turn Vertical

Galaxy, another prominent cryptocurrency analyst on Twitter, explained in a recent tweet that Ethereum’s recent price action resembles bottoms seen prior to previous parabolic rallies, and that this next movement could send it above a multi-year descending trendline.

“If ETH breaks the green line it’s showtime,” he said while pointing to the aforementioned technical patterns seen on the below chart.

If $ETH breaks the green line it's showtime pic.twitter.com/ynwPOEwanF

— Galaxy (@galaxyBTC) February 5, 2020

While considering the confluence of all these bullish factors, it does appear to be highly likely that Ethereum’s ongoing rally is about to turn parabolic, potentially leading it to significantly outperform both Bitcoin and the aggregated crypto markets in the coming days and weeks.

Featured image from Shutterstock.
Tags: cryptoETHethereum
TweetShare183
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
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

payment gateway

Open Source vs. Ready-Made Payment Gateways: Which Crypto Processing Option Is Easier to Implement

25 mins ago
Bitcoin Hopes to Retest Record Highs After Powell’s Testimony; Here’s Why

Bitcoin Hopes to Retest Record Highs After Powell’s Testimony; Here’s Why

5 hours ago
coinsbit

In Honour of Coinsbit 3rd Anniversary, the Exchange Is Launching a Unique Staking Pool With 30 Bitcoins up for Grabs, Tickets to the Maldives and More

6 hours ago
okb

OKB Continues to Break its Own Price Records, Hits a New ATH After Crossing $22 Mark

6 hours ago
Binance, Binance Coin, BNBUSD, BNBBTC, cryptocurrency

Binance’s BNB Spikes Wildly as Crypto Market Recovers $250bn; What’s Next?

7 hours ago
bitcoin btc

Bizarre Bitcoin On-Chain Correlation With Fear And Greed Index Discovered

17 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Oxygen Protocol to List OXY Tokens on BitMax

February 24, 2021

HOPR Hosts Global Token Launch Event on February 24th after First-Of-Its-Kind DAO Experiment

February 24, 2021

Egoras- a Decentralized Finance Ecosystem for Growing Markets!

February 23, 2021

Newsletter Signup


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.

COMPANY

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

Technical Analysis

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

LINKS

Auto Trading Software ▸

Cryptocurrency news

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

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +

© 2020 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.