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: Bitcoin Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%
  • 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: Bitcoin Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%

Why Ethereum Is Poised for To Bottom and See 100% New Year’s Rally

Cole Petersen
Cole Petersen
5 years ago
2 mins read
Ethereum ETH

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.

2019 proved to be a positive year for the aggregated cryptocurrency markets, with Bitcoin posting a stunning surge of nearly 100%, while altcoins had mixed performance, with Ethereum (ETH) dropping marginally while XRP posted a massive 45% drop.

Analysts are now noting that Ethereum could be on the cusp of seeing significantly further gains, with the strong support around its current price levels potentially allowing it to surge as much as 100% in the near-term.

Ethereum Breaks Back Above $130 as Bulls Continue Defending Key Support Region

At the time of writing, Ethereum is trading up over 1% at its current price of $132, which marks a notable climb from its recent lows of $128 that were set just a couple of days ago.

Over the past few weeks, ETH has been finding significant support within the $120 region, with its multi-month lows currently existing at $120 and another key support level existing at $125.

The cryptocurrency’s ability to hold strong above this support region certainly enhances the bullish case for the cryptocurrency and may point to the possibility that it will see significantly further upside in the near-term.

Scott Melker, a popular cryptocurrency analyst on Twitter who goes by the pseudonym “The Wolf of All Streets,” spoke about this in a tweet, saying that the significant support in the $120 region is why he thinks the crypto looks “decent” at the moment.

“$ETH / $BTC (Daily): The larger range is the key (light blue). You can tell this is a meaningful range by the clear action around the EQ (dashed line). Blue lines are significant support and resistance and price reacted nicely to the lower one, hence why I think ETH looks decent,” he explained while pointing to the chart seen below.

$ETH / $BTC (Daily)

The larger range is the key (light blue). You can tell this is a meaningful range by the clear action around the EQ (dashed line). Blue lines are significant support and resistance and price reacted nicely to the lower one, hence why I think ETH looks decent. pic.twitter.com/5rYepuCVoe

— The Wolf Of All Streets (@scottmelker) January 1, 2020

Could This Support Send ETH Surging Over 100%? One Analyst Thinks So…

As for what this strong support could mean for where Ethereum will head next, DonAlt, another popular cryptocurrency analyst on Twitter, explained in a recent tweet that ETH is currently caught in a wide trading range that could ultimately lead its price to surge as high as $268 in the near-term, which would mark an over 100% jump.

“$ETH Time to play the range,” he said while pointing to the chart seen below.

$ETH

Time to play the range. pic.twitter.com/I5EFZpG6Tt

— DonAlt (@CryptoDonAlt) January 1, 2020

The coming days and weeks will provide deeper insight into just how bullish Ethereum is in the near-term, as a failure for it to sustain its slight bullishness could lead it to drop back down to its key support within the lower-$120 region.

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

Solana

Analyst Sets Bold $1,314 Target For Solana After Cup-And-Handle Breakout

A cryptocurrency analyst has pointed out how Solana may be moving toward a sky-high main target based on a cup-and-handle...

Keshav Verma 9 hours ago
bitcoin

Bitcoin Breaks Above Mid-Term Holder Breakeven – Is A Fresh Rally Brewing?

Bitcoin (BTC) has surged from around $108,000 on September 1 to above $115,000 at the time of writing – recording...

Ash Tiwari 10 hours ago
Chainlink

Chainlink And Polymarket Forge New Alliance: LINK Forecasted To Outperform XRP By 2030

Chainlink (LINK), one of the crypto market’s leading providers of decentralized oracle solutions, has announced a partnership with the prediction...

Ronaldo Marquez 11 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

Aave price

AAVE Price Reclaims $320 As TVL Metric Shows Positive Divergence — What’s Next?

Opeyemi Sule 38 minutes ago
Dogecoin

Dogecoin In Buy Zone: Bulls Eye $0.34 As Immediate Target

Semilore Faleti 2 hours ago
Solana, Monero, SUI, pump.fun, chainlink

Solana Eyes Massive Breakout Amid $240 Retest, But Analyst Issues Crucial Market Warning

Rubmar Garcia 7 hours ago

Premium Sponsors

Press Releases

  • ドージコイン 今後の展望:ビットコイン提携とETF開始で次の暗号資産の巨人となるか

    ドージコイン...

    3 hours ago
  • 鯨が一晩で4,000万XRPを売却、リップル 今後は3ドルのサポートを維持できるか

    鯨が一晩で4,000万XRPを売却、リップル...

    4 hours ago
  • 暗号資産トレジャリーの苦境とQ4に狙う仮想通貨プレセール

    ...

    4 hours ago
  • 10月に上昇が期待される仮想通貨おすすめ6選

    ...

    4 hours ago
  • 新しい仮想通貨が投資家を最速で億万長者に導く ― 既存の「買うべき仮想通貨」を超えて

    ...

    4 hours 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.