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

These Factors Show Ethereum is Still Poised to Explode Past Yearly Highs at $290

Cole Petersen
Cole Petersen
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.

Ethereum has entered a firm consolidation phase in the time following its recent bout of volatility.

This turbulence came about yesterday, with ETH’s buyers propelling it to highs of $255 before it lost its momentum and declined down to lows of $230.

Bitcoin triggered this movement, as the benchmark cryptocurrency first rallied to highs of $10,400 on Monday evening before losing all its buying pressure and reeling as lows as $8,600 on one major trading platform.

The aggregated crypto market appears to be closely watching to see what Bitcoin does next, but it is possible that ETH will be able to incur some independent momentum.

One analyst believes that this next Ethereum move could heavily favor buyers, as there are a couple emerging factors that may help boost it higher.

Ethereum Consolidates Within Bull-Favoring Technical Formation

Ethereum has entered what appears to be a consolidation phase as it struggles to garner any notable momentum.

At the time of writing, ETH is trading down just under 1% at its current price of $238. It has been ranging between $230 and $240 in the time following its immense volatility.

It is highly likely that the crypto’s near-term price action will be heavily influenced by that of Bitcoin, although analysts are pointing to a technical formation that it is currently caught within as a reason why it could rally higher.

One analyst offered a chart showing this pattern – which is clearly seen while looking towards its BTC trading pair.

Ethereum
Image Courtesy of Ethereum Jack

The upper boundary of this broadening wedge appears to sit around 0.025. Ethereum is currently trading up 0.5% against BTC at 0.0247.

If it is able to break this level, it could see some independent momentum that allows it to outperform Bitcoin in the days ahead.

Here’s the Level ETH Needs to Break to Set Fresh All-Time Highs 

Throughout the course of its latest downtrend, the cryptocurrency was able to maintain above a key support level.

This level sits at $228 – which happens to be where BTC had faced some strong resistance during its uptrend seen last week.

Another respected trader explained in a recent blog post that the close above this level is undoubtedly a bull-favoring sign.

“Looking at the daily for the dollar pair, we can see that price closed firmly above that high at $228 that I was so keenly watching, with consolidation occurring above the high,” he noted.

He also went on to explain that the cryptocurrency needs to break above $254 in order for it to see any intense upwards momentum that leads it back to its yearly highs of $290.

“There are two possible scenarios that make for high R plays; either we see a breakdown at the trendline resistance after taking out $254, which I would look to get short on, or we close above the confluence of levels and rally into $290.”

Featured image from Shutterstock.

ETHUSD, ETHUSDT, ETHBTC

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

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 1 day ago
Ethereum Forms Rising Wedge Pattern – $2,200 Support Back In Focus?

Ethereum Forms Rising Wedge Pattern – $2,200 Support Back In Focus?

Ethereum is trading above the $2,500 mark but continues to struggle with strong resistance near $2,600, a key level that...

Sebastian Villafuerte 1 day ago
Ethereum Price Gathers Strength

Ethereum Price Gathers Strength — Bulls Prepare for Upside Extension

Ethereum price started a fresh increase above the $2,450 zone. ETH is now back above $2,550 and might soon aim...

Aayush Jindal 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

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

Scott Matherson 15 hours 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

Scott Matherson 22 hours ago
ethereum

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

Ash Tiwari 1 day ago

Premium Sponsors

Press Releases

  • Cryptocurrency is the best way to get rich quickly, easily...

    4 hours ago
  • XRP Cryptocurrency × Dogecoin Mining: HASHJ launches...

    12 hours ago
  • Koja kriptovaluta ima veći potencijal za stvaranje milijunaša XRP ili Shiba Inu

    Koja kriptovaluta ima veći potencijal za stvaranje...

    16 hours ago
  • 3 altcoina koje vrijedi pratiti u prvom tjednu srpnja 2025

    16 hours ago
  • XRP Bulls Are Soaring — FINDMINING Rides the Wave to...

    22 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.