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 on the Cusp of Capitulation as Top Traders Eye a Move to Key Support

Cole Petersen
Cole Petersen
5 years ago
2 mins read
Ethereum

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 closely tracking Bitcoin’s price action over the past day, which has led it to once again enter a consolidatory phase within the mid-$130 region. This bout of sideways trading closely follows the crypto’s recent rally that sent it surging towards its key resistance at $140.

In the near-term, analysts are noting that Ethereum is currently approaching a critical support level that must be defended if bulls want to guard against further downside.

This comes concurrently with one top trader noting that ETH appears to be highly bearish against its USD trading pair, suggesting that a capitulatory decline could be imminent in the days ahead.

Ethereum Consolidates Alongside Aggregated Crypto Market 

At the time of writing, Ethereum is trading flat at its current price of $136, which is around where it started the morning off yesterday.

ETH is currently trading down slightly from daily highs of $140 – a region that was visited on multiple occasions throughout the day yesterday, with each tap of this level leading to a significant influx of selling pressure that subsequently led it to decline to its current price region.

This lackluster price action has come about in tandem with that seen by Bitcoin, which is also currently consolidating following multiple failed attempts to breach its key resistance at roughly $6,900.

In the near-term, it does appear that Ethereum is quickly nearing a key support level on its BTC trading pair, with a failure to defend this level opening the gates for a noteworthy decline.

Bagsy, a prominent crypto trader, spoke about this in a recent tweet, telling his followers that he does anticipate ETH to hold above this level on its first test, with subsequent tests potentially catalyze a breakdown.

“ETH: Approaching support; I’m anticipating the midpoint holds here on a first test,” he explained.

$ETH

Approaching support; I'm anticipating the midpoint holds here on a first test. pic.twitter.com/yDiEbMGxFE

— Bagsy (@Bagsy) March 25, 2020

ETH Flashing Intense Signs of Bearishness Against USD

One factor that could lead ETH to break below its Bitcoin trading pair’s support is the fact that it is expressing signs of weakness against its USD trading pair.

DonAlt – a prominent cryptocurrency analyst on Twitter – spoke about this in a recent tweet, telling his followers that ETHUSD is bearish as long as it maintains below $150.

“ETH: The USD pair looks even worse. ETH dropped by 90%+ and is now ranging putting in lower highs and lower lows. I like being bullish as much as the next guy but as long as ETHUSD is trading & closing below $150 I see little reason to expect higher prices,” he explained.

$ETH

The USD pair looks even worse.
ETH dropped by 90%+ and is now ranging putting in lower highs and lower lows.
I like being bullish as much as the next guy but as long as ETHUSD is trading & closing below $150 I see little reason to expect higher prices. pic.twitter.com/MANaB9O2jn

— DonAlt (@CryptoDonAlt) March 25, 2020

Because Ethereum is moving in tandem with Bitcoin for the time being, whether or not it climbs past its intense near-term resistance will likely rest solely upon how BTC reacts to its resistance at $6,900.

Featured image from Shutterstock.
Tweet123Share196ShareSend
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

Whales Are Loading Up on Chainlink (LINK), But Retail Investors Are Still Missing the Signal

Whales Are Loading Up on Chainlink (LINK), But Retail Investors Are Still Missing the Signal

Chainlink (LINK) is trading at $13.36, following a 3% drop in the past 24 hours, which places the altcoin approximately...

Samuel Edyme 4 hours ago
Ethereum

Ethereum Price Targets $3,000 As Analyst Calls It A ‘Powder Keg’

The Ethereum price is flashing major upside signals as on-chain and market activity align toward a potential breakout to the...

Scott Matherson 6 hours ago
Bitunix bonus krypto giełda promocja USDT

Бонусная программа Bitunix: как зарабатывать на криптовалютах с максимумом прибыли в 2025?

Bitunix – инновационная платформа для профессионального деривативного трейдинга. Она представляет собой современную торговую платформу, объединяющую широкий арсенал инструментов с продуманной...

lisachaikina 8 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

BTC, Bitcoin

Bitcoin Near Historic Weekly Close Despite Drop – Analyst Warns Of Volatile Weekend

Rubmar Garcia 24 minutes ago
ethereum

Ethereum Approaches Wyckoff ‘Liftoff’ Phase – Can ETH Reach A New High?

Ash Tiwari 2 hours ago
Giełda krypto Bitunix laptop interfejs

Giełda Bitunix integruje TradingView. Nowy lider na rynku krypto?

News BTC 4 hours ago

Premium Sponsors

Press Releases

  • 仮想通プレセール注目:リップルが米銀行ライセンスを申請、機関投資家の関心が急上昇中

    ...

    15 hours ago
  • 仮想通貨おすすめ:話題の新トークンがプレセール開始直後に15万ドルを調達

    ...

    16 hours ago
  • 新しい仮想通貨:ソラナ系取引ボットが話題のプレセールで150万ドル調達、次の100倍候補か?

    ...

    16 hours ago
  • 仮想通貨おすすめ|米下院が大型法案可決、7月4日にビットコインが急騰

    ...

    16 hours ago
  • ミームコイン急騰中|Solana発の人気銘柄続々高騰、新たな注目トークンも登場か?

    ...

    17 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.