• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
NewsBTC
No Result
View All Result
ethereum green weekly candle crypto record bullish
Nexo Logo

Ethereum Sets Record for Most Bullish String of Weekly Price Action Yet

Tony Spilotro by Tony Spilotro
2 years ago
in Cryptocurrency news, Ethereum
Reading Time: 3 mins read
Advertisement

The number two cryptocurrency by market cap, Ethereum, has been leading the crypto rally of 2020, causing its value to more than double year-to-date.

As the rally continues, Ethereum just set the most bullish string of weekly price action yet with a record-breaking total of nine consecutive weekly green price candle closes. With so much bullish momentum, what’s next for the second-largest cryptocurrency in the industry?

Ethereum Continues Record-Breaking Crypto Rally

Ethereum is up nearly 150% from late December 2019 lows and has already more than doubled since the year first began.

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

The most dominant altcoin in the space has continued to outperform Bitcoin and most of the rest of the market, aside from a few outliers like Tezos and Chainlink.

The rally has now resulted in Ethereum breaking a record for the most consecutive bullish weekly candle closes in a row since the crypto bubble first got started in 2017.

$ETH is about to break its record for most concurrent green candles this week with 9. The record was previously held back in Jan – Mar 2017 when ETH went from 10$ to 50$ pic.twitter.com/W8gRoakk39

— XC (@runtheirstops) February 23, 2020

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

At the start of 2017, the crypto asset was trading at below $10 per ETH token.

But after a string of eight consecutive weekly green candle closes, Ethereum was trading at over $50 a token, with over a 5x return for investors.

While such a record-breaking string of weekly closes could look like a strong trend that is beginning to wane, after a short pullback the altcoin surged yet again, reaching over $400.

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.

Related Reading | Proceed With Caution: Ethereum and Altcoins Reach Critical Resistance 

After yet another pullback, Ethereum went on to set its all-time high at over $1,400 in early 2018, before a bear market erased over 90% of those gains.

Now, after two years of a downtrend, Ethereum is ready to rocket once again and has just broken the early 2017 record for the most bullish weekly candle closes in a row.

ethereum price

Bubble Flashback: Is The Leading Altcoin Ready For Another 7,000% Surge?

Much like in 2017, the rally appears to be losing momentum, however, it very well could be getting ready for another leg up as Ethereum did during the crypto bubble inflation phase.

The two surges upward added over 7,000% value to Ethereum, in just under 200 days.

ethereum price

A surge of similar magnitude would push the number two cryptocurrency to over $8,000. While as unlikely as that may seem, the crypto asset has rallied that explosively in the past.

Last time around, Ethereum’s charge was fueled by the ICO boom, but this rally is due to the current frenzy surrounding decentralized finance.

Related Reading | Surging Ethereum Volume While Price Skyrockets Is Major Bullish Sign

Few platforms are as robust and developed as Ethereum, so it’s been the primary platform involved in the rapid growth of the DeFi movement.

As that space only looks to continue to grow from here, Ethereum’s strength is likely to continue for the foreseeable future.

Featured image from Shutterstock
Tags: chainlinkcryptoDeFiethereumICOtezos
Tweet123Share214ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

Related Posts

Bitcoin Bull Rally Fades, Mining Difficulty Surge By 0.63%

Bitcoin Bull Rally Fades, Mining Difficulty Surge By 0.63%

26 mins ago
Bitcoin

Why Bitcoin Is Cheap At $23,000, Says Fidelity Expert

30 mins ago
Oleksandr Usyk Partners Up With The QMALL Crypto Exchange Ahead Of His Upcoming Match With Anthony Joshua

Oleksandr Usyk Partners Up With The QMALL Crypto Exchange Ahead Of His Upcoming Match With Anthony Joshua

36 mins ago
Snook Showcases The importance of Community Engagement Through BBT-Themed Rooms For Partner Projects

Snook Showcases The importance of Community Engagement Through BBT-Themed Rooms For Partner Projects

52 mins ago
Cryptocurrency Market Drains $50B As Bitcoin Touches Weekly Lows

Cryptocurrency Market Drains $50B As Bitcoin Touches Weekly Lows

1 hour ago
Ahead Of Vasil Hard Fork, Cardano Metaverse Project Cardalonia Shows Huge Potential As The $LONIA Token Demand Surges

Ahead Of Vasil Hard Fork, Cardano Metaverse Project Cardalonia Shows Huge Potential As The $LONIA Token Demand Surges

13 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

LBank Exchange Will List THANKQ (TQP) on August 18, 2022

August 18, 2022

Crypto Finance Coin (CTFC) Is Now Available for Trading on LBank Exchange

August 18, 2022

LBank Exchange Will List SYLToken (SYL) on August 17, 2022

August 18, 2022

LBank Exchange Will List Omax Coin (OMAX) on August 18, 2022

August 18, 2022

PETT Is Now Available for Trading on LBank Exchange

August 18, 2022

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

Crypto Prices from Nomics

Cryptocurrency news

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

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Bitcoin Casino Reviews

© 2021 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.