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 Price in Precarious Situation, Pullback Likely; Here’s Why

Nick Chong
Nick Chong
5 years ago
2 mins read

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.

After months of lull, Ethereum (ETH) has entered the consciousness of crypto traders once again, finding its legs for really the first time this year. Since hitting $170 in early-September, the cryptocurrency has rocketed higher to peak at $225, to then recede to its short-term support at $215 where ETH is trading at today.

Related Reading: Analyst: Bakkt Launch to Improve Trustworthiness of Crypto Markets

This strong upward price action, which comes as Bitcoin has effectively flatlined, hasn’t gone unnoticed. You see, a defined uptrend in Ethereum, according to analysts, would start what is known as “altseason”, a period in which non-BTC crypto assets flourish.

However, the party may soon come to an end… at least temporarily.

Ethereum in Precarious Technical Situation

Scott “The Wolf of All Streets” Melker, a prominent trader and disk jockey, recently noted that the ETH charts aren’t looking all too stellar.

In the tweet that can be seen below, Melker noted that Ethereum is trading at “major weekly resistance” on both its USD and BTC charts. Indeed, as he depicts, ETH has been struggling to move above these resistances, which have acted as historical levels of support and resistance for Ethereum.

$ETH is at major weekly resistance on both the USD (left) and $BTC pairs (right). Going to take a hell of a move on both accounts to break through. This is why I took some profit. Letting some ride in case alts can break these resistance levels. pic.twitter.com/yWdLMrsjRS

— The Wolf Of All Streets (@scottmelker) September 20, 2019

That’s not the only technical signal that should be a cause for concern for Ethereum bulls.

According to a Telegram alerts channel that tracks the TD Sequential indicator and how they apply to cryptocurrency trading pairs, the one-day ETH-USD chart recently printed a “sell 9” candle.

For those not versed in the Sequential, which is a time-based indicator, this implies that the uptrend that Ethereum has been on over the past few weeks has decidedly ended, and will continue to fall unless the sell 9 is negated by a green close.

Related Reading: Alt Season 2.0: Ethereum and XRP Post 20% Gains, Litecoin and More Up 10%

Strong Fundamentals

While Ethereum may be susceptible to a short-term pullback, its fundamentals are still decidedly intact. As reported by NewsBTC previously, the network’s metrics have been absolutely booming. A September 19th report from blockchain development studio ConsenSys found that there exist over 8,930 mainnet nodes, 75 million unique addresses, and an average hash rate which tops 100 TH/s on Ethereum.

That’s not all. There are now 2,600 Ethereum-based decentralized applications (dApps) with 17,000 daily users — which is relatively big for a blockchain, not for a corporation. Many of these applications are centered around decentralized finance — acts of “blockchainifying” financial applications that have been touted as Ethereum’s “killer use case”.

Featured Image from Shutterstock
Tweet123Share221ShareSend
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.

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

Ethereum Wyckoff Accumulation Hints At Explosive Q3 – $4K Level In Sight

Ethereum Wyckoff Accumulation Hints At Explosive Q3 – $4K Level In Sight

Ethereum is trading just above the $2,500 mark following days of volatility, choppy price action, and uncertainty across crypto markets....

Sebastian Villafuerte 1 day ago
Ethereum

Ethereum Price Stuck At $2,500: Analyst Says Don’t Trade Until This Happens

The Ethereum price is currently locked in a narrow trading range of around $2,500, with momentum stalling despite the market’s...

Scott Matherson 1 day ago
Ethereum at Risk? Whale Activity and On-Chain Signals Hint at Further Correction

Ethereum Wave Count Predicts Price Crash To $1,800 — But $6,000 Is Still In Play

Ethereum is still struggling below $3,000 despite the Bitcoin price sitting close to all-time highs. At the current levels, Ethereum...

Scott Matherson 2 days 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 Risks Downside If Resistance Holds: $2,700 Level Is Critical

Ethereum Risks Downside If Resistance Holds: $2,700 Level Is Critical

Sebastian Villafuerte 3 hours ago
Ethereum Price Pushes Higher

Ethereum Price Pushes Higher — Eyes Set on Next Major Barrier

Aayush Jindal 10 hours ago
Ethereum

Ethereum Ready For Explosive Breakout: $5,791 The Minimum Target–Analyst

Scott Matherson 19 hours ago

Premium Sponsors

Press Releases

  • XRP срещу Shiba Inu Коя криптовалута има по-голям шанс да създаде милионери

    XRP срещу Shiba Inu: Коя криптовалута...

    41 minutes ago
  • top memecoins

    Những Meme Coin Tiềm Năng Đáng Mua Hiện Nay Với...

    2 hours ago
  • Potential Coins

    Các Đồng Coin Tiềm Năng Mới Nhất: Enfineo...

    2 hours ago
  • 4 Altcoin Hàng Đầu Được Chuyên Gia Dự Đoán...

    3 hours ago
  • mining

    W·Mining integrates innovation and launches a new...

    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.