• 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
  • Buy SilverTry
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
  • Buy SilverTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news

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

Tony Spilotro by Tony Spilotro
1 year ago
in Cryptocurrency news, Ethereum
Reading Time: 3min read
ethereum green weekly candle crypto record bullish
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

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.

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
TweetShare18
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
Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. 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 and feel free to drop me a line if you would like to work together.

Related Posts

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Holds $50,000 on Global Corporate FOMO; What to Expect?

7 hours ago
Uniswap’s UNI Hung After Hitting Record High; Breakdown Risks Persist

Uniswap’s UNI Hung After Hitting Record High; Breakdown Risks Persist

9 hours ago
easyfi

Leading DeFi Protocol EasyFi Expands to Binance Smart Chain

1 day ago
DAFI

How DAFI Protocol Rewards Long-Term Token Holders and Supports Sustainable Project Growth

2 days ago
bitcoin and Ethereum macro beating

Economist: Ethereum and Bitcoin Look “Bullish” After Withstanding “Macro Beating”

3 days ago
paradox

How Paradox Group Is Helping DeFi

3 days 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

BTCS Now Producing Revenue from all 100 Ethereum 2.0 Nodes

March 8, 2021

Router Protocol and Polygon Partners With DFyn to Launch L2 GalaxyFarm

March 8, 2021

Get the Latest Crypto News, Trends and Insights at Interactivecrypto

March 8, 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
  • Buy Silver

© 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.