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: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow
  • 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: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow

Ethereum Could See 16% Jump as Bottom Forms, Fundamentals Strong

Nick Chong
Nick Chong
5 years ago
3 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.

As Bitcoin has stalled, so too has the second-largest cryptocurrency, Ethereum (ETH). The popular altcoin has collapsed by some 50% from the year-to-date peak seen earlier this year just like Bitcoin, being crushed under the weight of a copious amount of PlusToken reserve liquidations and other sources of selling pressure hurting bulls.

Despite the strong downtrend ETH has formed, a prominent trader suggests that Ethereum may end the year on a high note, citing technical trends that imply a Santa Claus rally is entirely plausible.

Related Reading: Bitcoin Week in Review: Bears Attack Key Support, But Irresponsible Monetary Policy May Bolster Macro Outlook

Ethereum Ready to Burst Higher? 

According to Michael van de Poppe, a CoinTelegraph contributor and a prominent cryptocurrency trader, Ethereum may be preparing to make a run to $175 according to “very basic technical analysis.” He drew attention to a double bottom structure that is forming, which can be corroborated by a breakout of a falling wedge and the fact that a key support held.

ETH hitting $175 from current levels would require it to rally by 16%.

$ETH #ETHEREUM

Very basic TA as I'm studying, but I won't be surprised to see a move back up to $175 on $ETH, if support holds here.

As then, we're making a double bottom structure and in general have bottom signals.

(also jumping back in the range above $160).

But fragile. pic.twitter.com/fcQ3fjQ3Th

— Michaël van de Poppe (@CryptoMichNL) December 14, 2019

This bullish technical outlook comes hot on the heels of a series of positive events for the Ethereum ecosystem as a whole.

Per previous reports from NewsBTC,  RealT, a U.S.-based global real estate platform working with Ethereum and blockchains, just sold the “first property ever to be tokenized on Ethereum.”

RealT, which sold the 9943 Marlowe RealToken (which represents the ownership of a Detroit home worth around $60,000), claims that this sale marked a number of “firsts” for the Ethereum ecosystem: these being the first tokenized real estate property, the first security token integrated into DeFi, and the first real estate asset tradable inside of Uniswap exchange and through the actual RealT website.

In related news, decentralized finance as an industry has been absolutely exploding, with users being attracted by derivatives and the chance to access financial services in a decentralized manner.

Related Reading: Bitcoin’s “Supertrend” Flips Red as Price Fails to Surmount Low-$7,000s

All Dependant on Bitcoin

While the technicals and fundamentals may support an ETH rally, its future is currently dependent on Bitcoin, as the leading cryptocurrency dictates the directionality of the rest of the market.

And unfortunately, it appears that bears are in control, meaning that both Bitcoin and Ethereum could fall in tandem.

On Nov. 14, popular cryptocurrency trader “Salsa” remarked that Bitcoin’s one-day chart “doesn’t look pretty,” drawing attention to the fact that BTC has turned the $7,300 support into resistance, a support-resistance flip that implies bears remain well in control.

Another analyst has echoed this, recently posting the chart below via Twitter to illustrate that bulls are in no position to gain an advantage over bears. On-balance Volume, an indicator meant to relate price to volumes, has formed a bearish pennant on the six-hour BTC chart, implying bearish price action is forming, while the Accumulation/Distribution indicator largely implies that distribution is taking place.

Update on A/D and OBV, volume-based indicators. $BTC #bitcoin Bears dominating volume. pic.twitter.com/bOuZXe0FLE

— Fizeek$ (@FizeekMoney) December 14, 2019

Related Reading: Crypto Tidbits: Bitcoin Mining Still China-Centric, Ethereum Istanbul Live, Banks Use Blockchain For Bonds
Featured Image from Shutterstock
Tweet123Share208ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

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

stablecoins payroll

Stablecoins και μισθοί σε crypto: Πώς αλλάζει η παγκόσμια αγορά εργασίας

Η αγορά εργασίας παγκοσμίως αλλάζει, και μέσα στο νέο τοπίο που διαμορφώνεται τα κρυπτονομίσματα φαίνεται πως κερδίζουν σημαντικό έδαφος. Όλο...

Ιωάννης Ριζόπουλος 19 hours ago
Ethereum price news

Ethereum Gears Up For $10,000: Charts Flash Parabolic Rally Signals

Ethereum is approaching a decisive phase that could carry it into five-figure territory, according to a multi-timeframe analysis from trader...

Jake Simmons 22 hours ago
Coinbase

Coinbase Vs. State Regulators: Crypto Exchange Fights Legal Fragmentation

US-based crypto exchange Coinbase has made a significant appeal to the Department of Justice (DOJ) regarding a wave of lawsuits...

Ronaldo Marquez 1 day 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 Price Squeezes Tight

Ethereum Price Squeezes Tight – Watch Out for Sudden Breakout Anytime

Aayush Jindal 4 hours ago

Bitcoin Holds $117,500 On Retail Support While Whales Stay Quiet – Cause For Concern?

Ash Tiwari 7 hours ago

Ethereum potrebbe puntare ai 10.000 $: ecco perché tanti analisti sono ottimisti

Orfeo Barone 18 hours ago

Premium Sponsors

Press Releases

  • 4 token, amelyek hatalmas növekedésre készülnek, hogy felülmúlják a Shiba Inu-t (SHIB) a következő bull runban

    4 token, amelyek hatalmas növekedésre készülnek, hogy...

    47 minutes ago
  • Bitcoin vissza 117 000 USD fölött a kamatcsökkentés után – nyílnak a vásárlási lehetőségek, miközben a Bitcoin Hyper ICO már meghaladta a 16,5 millió USD-t?

    Bitcoin vissza 117 000 USD fölött a kamatcsökkentés...

    10 hours ago
  • Bitcoin vissza 117 000 USD fölött a kamatcsökkentés után – nyílnak a vásárlási lehetőségek, miközben a Bitcoin Hyper ICO már meghaladta a 16,5 millió USD-t?

    Bitcoin späť nad 117 000 USD po znížení sadzieb –...

    10 hours ago
  • Bitcoin vissza 117 000 USD fölött a kamatcsökkentés után – nyílnak a vásárlási lehetőségek, miközben a Bitcoin Hyper ICO már meghaladta a 16,5 millió USD-t?

    Bitcoin späť nad 117 000 USD po znížení sadzieb –...

    10 hours ago
  • 4 tokeny připravené na obrovský růst, které mohou předstihnout Shiba Inu (SHIB) v nadcházejícím býčím trhu

    4 tokeny připravené na obrovský růst, které mohou...

    10 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.