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: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets
  • 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: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets

Ethereum Nears All-Time High Despite Alarming Bearish Signals

Yashu Gola
Yashu Gola
4 years ago
3 mins read
Ethereum, ETHUSD, ETHBTC, ETHUSDT, cryptocurrency

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 rose on Tuesday, partially because of its positive correlation with Bitcoin, the top cryptocurrency that also notched gains, and partially because the Chicago Mercantile Exchange will offer Ethereum Futures effectively from February 8, 2021.

Trades flocked into the second-largest cryptocurrency during the early European session, pushing its prices against the US dollar up by 6.07 percent to a week-to-date high of $1,458. That is just $19 shy of its recently-established record level.

Technical chartists highlighted Ethereum’s latest upside move to validate a bullish pattern known as the Ascending Channel. Crypto YouTuber Lark David presented a diagram that showed ETH/USD maintaining a short-term price ceiling with a horizontal trendline.

Meanwhile, the analyst also noted a sequence of lower highs forming beneath the horizontal resistance, presenting it as a super-bullish outlook for Ethereum.

Ethereum, ETHUSD, ETHBTC, ETHUSDT, cryptocurrency
Ethereum tests the upper trendline of the so-called Ascending Channel pattern for a breakout move, according to Lark Davis. Source: ETHUSD on TradingView.com
Ethereum tests the upper trendline of the so-called Ascending Channel pattern for a breakout move, according to Lark Davis. Source: ETHUSD on TradingView.com

Per the technical description, the breakout target of Ethereum’s Ascending Triangle chart stands over $2,000.

But…

Ethereum’s latest upside move alarmed about a growing bearish divergence outlook on a daily timeframe chart.

So it appears, the ETH/USD exchange rate rose in defiance of its falling volume and depreciating momentum. Technically, it risked slowing down the prevailing uptrend at one point in time, which may follow up with a deeper retracement downwards.

Ethereum, ETHUSD, ETHBTC, ETHUSDT, cryptocurrency
Ethereum bearish divergence risks sending its prices lower. Source: ETHUSD on TradingView.com
Ethereum bearish divergence risks sending its prices lower. Source: ETHUSD on TradingView.com

Meanwhile, a twisted version of the Descending Triangle pattern showed Ethereum trading inside a Falling Wedge structure. In retrospect, a Falling Wedge is a bearish reversal pattern that forms after an asset forms a sequence of higher highs and lower highs inside a contracting channel.

After or ahead of hitting the apex—the point where the two trendlines converge—the asset falls lower by as much as the Wedge’s maximum height. That puts ETH/USD at risk of plunging to mid-$1,000.

The bearish analogy somewhat matches the divergence, as discussed above. For now, it remains the only short-term technical barrier between Ethereum and a $2,000-valuation.

Long-term Scenario for Ethereum

A correction could prompt ETH/USD to retest its 50-day simple moving average wave (blue) near $1,025—almost in line with the Wedge target. Bulls could find the level attractive enough to increase their spot long positions, causing a rebound.

The ETH/USD exchange rate could then attempt a breakout move towards its 20-day simple moving average (green) and continue moving upward should the fundamentals agree.

Ryan Selkis of Messari brings one bullish catalyst to the forefront.

As per the researcher, Ethereum could attain more adoption from mainstream traders and investors after the recent WallStreetFrenzy fiasco. In retrospect, trading platform Robinhood had halted the trading of heavily-shorted stocks after an army of individual daytraders started making bullish bets on them.

“Buy bitcoin to hedge against inflation, and potentially make a lot of money, but also to tell your government to f*ck off,” wrote Mr. Selkis. “Buy ethereum to secure the fledging decentralized financial system and potentially make a lot of money, but also to tell your bank to f*ck off.”

“Buy DeFi assets to boost liquidity, additional investment in better financial infrastructure, and potentially to make a lot of money, but also to tell your brokerage, lender, or asset manager to f*ck off,” he added.

Tweet123Share196ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

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

X

X Blows The Lid Off Bribe Scandal In Crypto Account Restorations

The Elon Musk-owned X social media platform has gone public with claims that a bribery network tried to pay its...

Christian Encila 1 day ago
Ethereum

Bitmine’s Ethereum Appetite Grows With Fresh $70 Million Buy

BitMine Immersion Technologies has added nearly $70 million worth of Ethereum to its holdings, pushing the company’s ETH stash to...

Christian Encila 1 day ago

Bitcoin Exchange Supply Ratio Declines After Fed Cut, Setting Stage For $120,000 Test

Earlier this week, the US Federal Reserve (Fed) cut interest rates by 25 basis points, providing the much-required impetus to...

Ash Tiwari 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

Ethereum (ETH) Mirrors 2021 Price Action As Bulls Target $10,000 By 2026

Semilore Faleti 3 hours ago
Cardano

As XRP Grabs Headlines, Can Cardano Price Surge Toward $100?

Scott Matherson 13 hours ago
Shiba Inu

Shiba Inu Joins The Ranks Of Dogecoin, XRP On Coinbase ETF Watchlist – The Next Big Thing?

Scott Matherson 16 hours ago

Premium Sponsors

Press Releases

  • パイネットワーク...

    1 day ago
  • Cele mai bune altcoin-uri de cumpărat, pe măsură ce prețul Solanei se apropie de maximul istoric

    Cele mai bune altcoin-uri de cumpărat, pe măsură ce...

    1 day ago
  • Cele mai bune meme coin-uri de cumpărat acum, pe măsură ce capitalizarea pieței se apropie de 1,9 trilioane RON

    Cele mai bune meme coin-uri de cumpărat acum, pe măsură...

    1 day ago
  • Cele mai bune meme coin-uri de cumpărat acum, pe măsură ce capitalizarea pieței se apropie de 1,9 trilioane RON

    Nejlepší meme coiny k nákupu nyní, když se tržní...

    1 day ago
  • Cele mai bune altcoin-uri de cumpărat, pe măsură ce prețul Solanei se apropie de maximul istoric

    Nejlepší altcoiny k nákupu, když se cena Solany...

    1 day 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.