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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Ethereum Enters Buy Zone as Analysts Expect ETH Price Boom

Nick Chong
Nick Chong
5 years ago
2 mins read

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Ethereum (ETH) hasn’t done too hot over recent months. Ever since Bitcoin (BTC) started rallying earlier this year, altcoins across the board have suffered, falling against the market leader.

However, ETH is purportedly in the thick of a buy zone. Simultaneously, a number of analysts have claimed that the second-largest cryptocurrency is ready to head higher in the coming weeks and months. This confluence may present a solid buying opportunity.

Related Reading: Institutions Accrue Bitcoin Long Positions as Price Looks to Break Past $9,300

Ethereum In Key Buy Zone

If you’ve followed financial markets at all, you know that the 200-day moving average is important. This level, according to analysts across industries and time, is indicative of an asset’s trend. And according to a new analyst, it may be a viable way to determine when it is time to buy a cryptocurrency.

Bitcoin trader BitDealer recently noted that ETH is likely in a medium-term to long-term buying zone when it is 10 points below its 200-day moving average. Right now, Ethereum is in that zone, trading at $181.2 — some $30 lower than the technical level, which currently sits at $213.0.

https://twitter.com/Bitdealer_/status/1191067564526448640

Related Reading: Analyst: Bitcoin May See 30% Rally to $12,000 as Price Breaks Out

Upward Momentum Building

While ETH may be in a good buying zone, do the technicals or fundamentals support price appreciation?

According to some analysts, decidedly so.

Brave New Coin’s Josh Olszewicz recently noted that the cryptocurrency’s recent consolidation in the $180 price region has allowed ETH to print a bullish chart pattern, an ascending triangle — a signal that often implies bullish trend continuation for the asset in question. He notes that a measured move for this triangle would be a 15% rally to $215 over the coming weeks.

4h $ETH

asc tri pic.twitter.com/QgcPx1c7ZC

— #333kByJuly2025 (@CarpeNoctom) October 29, 2019

This came shortly after Olszewicz argued that he expects ETH’s price to see an edge-to-edge Ichimoku Cloud move from $183 to $260 — a 40% move higher. While this seems crazy, the recent move has made the charts of many cryptocurrencies bullish once again.

On the fundamental side of the cryptocurrency, Ethereum’s decentralized finance (DeFi) ecosystem has continued to swell, recently establishing a new all-time high in terms of how much ETH is locked up in DeFi applications.  Also, Ethereum’s next system-wide upgrade, Istanbul, will be activating on the mainnet likely during the week of December 4th.

Related Reading: Research Firm: Bitcoin Price Bottomed at $7,300, Recovery Possible
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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.

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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.

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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.

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