• 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
  • Play GamesTry
  • BUY BITCOINTry
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
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Ethereum

Ethereum is Flashing Signs That a Sizable Bull Run is Looming

Cole Petersen by Cole Petersen
8 months ago
in Ethereum
Reading Time: 2min read
Ethereum is Flashing Signs That a Sizable Bull Run is Looming
Advertisement
Listen to Article

Ethereum has seen some rather lackluster price action in recent times, hovering around the $200 level as its buyers and sellers largely reach an impasse.

This price action has not been emblematic of the cryptocurrency’s underlying fundamental strength, however, and one analyst is noting that there are a few major factors that suggest a massive bull trend exists just around the corner.

This trend comes as analysts note that the cryptocurrency could also be strong from a technical perspective as well, with one even offering a lofty near-term price target for the cryptocurrency at $250.

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

Here are the Fundamental Factors That Suggest Ethereum is on the Cusp of a Massive Uptrend

Although Ethereum’s price action has been rather lackluster as it hovers within the lower $200 region, there are a few key fundamental developments that suggest the crypto is poised to see a major uptrend in the near-term.

Spencer Noon, the Head of DTC Capital, spoke about this in a recent tweet thread, explaining that he sees a host of factors that signal ETH is poised to rally.

Of all the factors he discusses, two of the most bullish – in terms of direct correlation to the crypto’s price action – can be seen while looking towards its institutional inflows and massive net outflow of ETH away from exchanges.

With regards to institutional adoption, Noon explains that the growth of the Grayscale Ethereum Trust (ETHE) over the past three weeks shows that institutions are either investing in ETH, or are locking up their existing holdings at a rapid pace.

“1 million new shares of [Grayscale Investment’s] ETHE have been issued in the past 3 weeks – a sign that institutions are either investing in ETH or locking up their existing holdings at a pace of roughly $1 million per day,” he explained.

Noon also points to the massive outflow of ETH away from exchanges as a reason why the crypto is fundamentally strong, noting that this is a sign of accumulation.

“Post-Black Thursday (March 12) there has been a net outflow of ETH from exchanges, with 62% of days showing net outflows – a sign of accumulation,” he said while pointing to the below chart.

Ethereum
Image Courtesy of Spencer Noon

Where Could This Potentially Imminent Uptrend Lead ETH’s Price?

As for how high this potential uptrend could lead Ethereum, one analyst recently noted that he is watching for a movement up to $250.

This target is labeled on the chart seen below, and it appears to coincide with a descending trendline that has been formed in the time following the cryptocurrency’s rally to highs of $290 in mid-February.

Ethereum
Image Courtesy of Galaxy

In order for Ethereum to push to these highs, it is imperative that the aggregated cryptocurrency market garners greater upwards momentum.

Featured image from Shutterstock.
Tags: ethbtcethereumethusdETHUSDT
TweetShare
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

Highly Anticipated Ethereum Fee Model Upgrade is Expected in 2021

Highly Anticipated Ethereum Fee Model Upgrade is Expected in 2021

5 days ago
Ethereum

Ethereum Rallies Towards All-Time Highs as BTC Stalls; What Analysts are Saying

6 days ago
Ethereum, ETHUSD, ETHBTC, ETHUSDT, cryptocurrency

Ethereum Analyst Predicts Record High against Eerie Bearish Setups

2 weeks ago
Ethereum, ETHUSD, ETHBTC, Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Don’t Sell Your Bitcoin and Ethereum on RSI Warnings: Analyst

3 weeks ago
Bullish Continuation Pattern on Ethereum Predicts Price Over $1,500

Bullish Continuation Pattern on Ethereum Predicts Price Over $1,500

3 weeks ago
ethereum defi crypto altcoin

Ethereum “Anti-Network Effect” Shows “DeFi Has Outgrown” The Altcoin

3 weeks ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

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
CryptoSlots

CryptoSlots

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

There’s a New Bitcoin Wallet on the Line – Cryonik.io

January 25, 2021

Join PEAKDEFI – a Safer Way to Grow your Wealth

January 25, 2021

Cryptowisser Releases Report on Exchanges With Lowest Fees

January 22, 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 +
  • Play Games
  • BUY BITCOIN

© 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.