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: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • 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: Coinbase Confirms DOJ Investigation Following Major Security Incident

Ethereum Faces Confluence of Bullish Factors as Analysts Eye Move to $200

Cole Petersen
Cole Petersen
5 years ago
2 mins read
Bitcoin

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.

Ethereum has been struggling to garner any momentum as it faces heightened resistance around the mid-$140 region, with this bout of consolidation coming about in tandem with that seen by Bitcoin and most other altcoins.

In spite of this, ETH has been able to form a bullish textbook charting pattern that may give it some notable momentum once it breaks through the resistance it is facing around its current price levels.

This also comes as the crypto incurs some notable fundamental strength, with one on-chain metric suggesting that ETH is poised to see some serious near-term upside.

Ethereum Consolidates Below $145 as Bullish Technical Pattern Emerges 

At the time of writing, Ethereum is trading down marginally at its current price of $143.70.

This is the price at which ETH has been trading at for the past few days, with its rally seen earlier this past week allowing it to climb to highs of $145 before being rejected.

Bulls then tested this level again on multiple occasions, with each time resulting in a similar rejection.

It is important to note that consolidation directly below resistance can be viewed as a bullish sign, as it often suggests that an upwards breakout is imminent.

Another key factor that could bolster Ethereum in the days ahead is the fact that it has formed what appears to be an ascending triangle with an upper boundary existing at just over $145.

Josh Olszewicz, a prominent cryptocurrency analyst, pointed out this emerging pattern in a recent tweet, while offering a chart with a target existing at roughly $200.

Ethereum
Image Courtesy of Josh Olszewicz

On-Chain Metrics Also Point to Imminent ETH Upside

 Growing technical strength isn’t the only thing currently counting in Ethereum’s favor.

As NewsBTC reported yesterday, data from analytics platform Glassnode shows that exchanges are currently seeing their highest ETH balance since December of 2016.

Exchange balance has proven to be inversely correlated with Ethereum’s price action, which means that the crypto could be well positioned to make a massive upside movement.

“Since late 2019, ETH exchange balances have increased by more than 21% to over 18,187,000 – which represents ~16% of Ethereum’s circulating supply. The last time we saw levels this high was in December 2016.”

Ethereum ETH
Image Courtesy of Glassnode

If this inverse correlation continues holding strong, the growth in the balance of Ethereum on exchanges does suggest that the crypto will soon see some massive near-term upside, which could be further bolstered by its technical strength.

Featured image from Shutterstock.
Tweet123Share231ShareSend
Cole Petersen
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.

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

Bitcoin Moves Up, Dogecoin Surges Above Key $0.17 Mark; Token6900 Set to Explode

Bitcoin Moves Up, Dogecoin Surges Above Key $0.17 Mark; Token6900 Set to Explode

Bitcoin climbed above $109K, triggering a surge across the markets: Ethereum ($ETH) – up 4.65% XRP ($XRP) – up 3.86%...

Aaron Walker 5 hours ago

Smart Contract Lock and CertiK Audit: The Driving Factors Behind $FUN’s Breakout

Web3 gaming’s FUNToken emerges with strengthened fundamentals following smart contract lock implementation and CertiK audit clearance. Trading at $0.009894 as...

News BTC 5 hours ago
Solana koers stijgt 12% in een week: golden cross wijst op $172

Solana koers stijgt 12% in een week: golden cross wijst op $172

De Solana koers laat de afgelopen dagen weer interessante bewegingen zien. SOL laat de top 10 crypto’s achter zich en...

Lars Diederiksen 5 hours 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

Dogecoin price news

Dogecoin’s Quiet Setup Could Detonate Shorty, Says Analyst—Here’s The Target

Jake Simmons 20 minutes ago
Bitcoin

The Silent Bitcoin Accumulation: Public Companies’ Surprising H1 2025 Lead

Christian Encila 3 hours ago

Ethereum Stagna: I Dati On-Chain Mostrano Accumulo da Parte delle Whale

clararosati 4 hours ago

Premium Sponsors

Press Releases

  • The smartest way to make money in 2025: Invest in cloud...

    1 hour ago
  • 仮想通貨プレセール注目|ビットコイン、2025年第3・第4四半期が最良期と予測

    ...

    1 hour ago
  • Bitcoin vs. Gold: Which Is the Best Investment In 2025?

    2 hours ago
  • Profit of $5,735, senior trader uses Ripple (XRP) to open...

    2 hours ago
  • 仮想通貨おすすめ|SPX6900のように急成長が期待される最新ミームコインプレセール

    ...

    3 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

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.