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

Here’s How Far Ethereum Could Drop if it Confirms an Ultra Bearish Technical Pattern

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.

Ethereum, like most of its peers, has incurred a slight amount of selling pressure today that has led it to decline from highs of just under $200 that were set yesterday. This tempered move lower comes as the crypto is caught within a firm mid-term uptrend.

It does appear that this uptrend may be short-lived, however, as analysts are now widely pointing to the existence of a massive rising wedge pattern that it is currently caught within, as a bearish resolution to this pattern could lead to significant losses.

This also coincides with bearishness flashed by ETH against its Bitcoin trading pair, and the confluence of its weakness across its two major trading pairs signals downside is imminent.

Ethereum Drifts Lower as Weakness Against Bitcoin Grows

At the time of writing, Ethereum is trading down over 1% at its current price of $193.70, marking a slight decline from daily highs of nearly $200 that were set yesterday.

ETH is also showing some weakness against its Bitcoin trading pair, currently trading down over 2% as the benchmark crypto remains stable just below its daily highs of $7,800.

Analysts are now noting that they anticipate Ethereum to show further weakness against its Bitcoin trading pair, as the resistance that exists just above its current price at 0.026 BTC may be enough to catalyze a significant decline.

One trader mused this possibility in a recent tweet, pointing to this resistance in a chart while offering a near-term downside target at roughly 0.0235 BTC.

Ethereum ETH
Image Courtesy of Mac

He related this chart to a previous tweet of his in which he noted that he anticipated Bitcoin to outperform the aggregated market in the near-term, leading cryptocurrencies like Ethereum to see some weakness.

ETH Establishes Highly Bearish Technical Pattern that Could Lead to Serious Losses 

This isn’t the only factor currently counting against Ethereum’s favor, as it also recently formed a highly bearish technical formation that could lead significantly lower against USD.

Analysts have been widely pointing to this rising wedge pattern over the past few hours, with one offering a chart showing a near-term downside target at roughly $160 if it posts a confirmed breakdown of this pattern.

Image Courtesy of CryptoBirb

Because of ETH’s weakness against BTC, it is a strong possibility that this movement will come about independent of Bitcoin seeing any downside.

It is also possible, however, that this present technical weakness will be magnified if BTC is rejected at $7,800.

Featured image from Unplash.
Tweet123Share217ShareSend
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 In Demand: ETF Inflow Streak Extends To 7 Weeks

Institutional demand for Ethereum appears strong as spot exchange-traded funds (ETFs) have recorded seventh-straight week of inflows. US Ethereum Spot...

Keshav Verma 16 hours ago
Ethereum

Ethereum Network Awakens—Massive On-Chain Moves Signal What’s Coming

Ethereum has stayed under the radar as Bitcoin grabs headlines. But new data shows long‑term holders have quietly built up...

Christian Encila 17 hours ago
Ethereum

Ethereum Indecision Masks A Bullish Setup – Here’s Why BTC Holds The Key

CRYPTOWZRD, in his latest update on X, highlighted Ethereum‘s indecisive close, suggesting the market is still searching for clear direction....

Godspower Owie 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

The ‘MicroStrategy’ Of Ethereum Emerges: Tom Lee And Joe Lubin Raise $675M To Stack ETH

Scott Matherson 3 hours ago

Solana (SOL) a un Bivio — Rimbalzo Probabile se i 142$ Tengono

clararosati 8 hours ago
Ethereum Price Drops After Bullish Attempt

Ethereum Price Drops After Bullish Attempt — Support Area Under Pressure

Aayush Jindal 16 hours ago

Premium Sponsors

Press Releases

  • Best Crypto Payment Gateway for Trading in 2025

    2 hours ago
  • 仮想通貨プレセールで1.45百万ドル調達-人為的ミスを排除し次の100倍を目指す新鋭トークン

    ...

    5 hours ago
  • 仮想通貨おすすめ|2025年に注目のポートフォリオ向け有望銘柄4選とは?

    ...

    6 hours ago
  • 「壮大で美しい法案」成立も暗号資産税制救済なし、新しい仮想通貨が未来を切り開く

    ...

    6 hours ago
  • FUNToken

    FUNToken Now Listed on Poloniex, Strengthening Global Reach...

    6 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.