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

This Textbook Signal Predicts Ethereum Has Room to Drop After 35% Correction

Nick Chong
Nick Chong
4 years ago
2 mins read
bitcoin

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 faced a strong correction over the past few days that easily overshadows Bitcoin’s move. From the local highs near $490 to the local lows, the cryptocurrency fell by over 35%, shocking most investors as they were bullish just days before.

ETH has already bounced since falling as low as $315, undergoing a rapid 14% rally to $360 on Sunday morning.

While key supports in the low-$300s were held due to this bounce, more technical signals suggest that Ethereum has room to slide.

Related Reading: Here’s Why This Crypto CEO Thinks BTC Soon Hits $15,000

Ethereum Has Room to Drop

Ethereum is prepared to move lower after already correcting by over 35% in the span of four days.

A Telegram channel tracking the Tom Demark Sequential reported on Sunday that the leading cryptocurrency has formed a bearish signal on its weekly chart. The signal is a Tom Demark Sequential “Quasi Sell 9” candle, which is a candle type often seen when an asset has reached a bearish inflection point in its trend.

Ethereum

Chart of ETH's price action over the past year with a Tom Demark Sequential analysis by a Telegram group tracking the indicator. Chart from TradingView.com

Prior to the ongoing correction, one trader said that simple technical analysis indicates Ethereum was primed to fall to $290 after losing the support around $370:

“#Ethereum has formed a broadening formation that normally has no preferred direction of a breakout. The bottom of the formation matches a long-term S/R level. If it is broken, the next potential target is at ~290$ – the second support and a 50% Fibonacci retracement.”

Image

Chart of ETH's price action over the past year with analysis by crypto trader and chartist "CryptoHamster" (@CryptoHamsterIO on Twitter). 
Chart from TradingView.com

Other analysts have noted that there is little historical support until $290, which sits 18% below the current market price of Ethereum.

Related Reading: These 3 Trends Suggest BTC Is Poised to Bounce After $1,000 Drop

Other Altcoins Printed the Same Signal

Altcoins aside from Ethereum printed the exact same Tom Demark Sequential signal as the one aforementioned.

According to the Telegram channel that first spotted this signal, the same signal has appeared on the charts of Band Protocol (BAND), Cosmos’s ATOM, and many other coins.

Related Reading: There’s an “Unusual” Amount of BTC Sellling Pressure From Miners
Featured Image from Shutterstock
Price tags: ethusd, ethbtc
Charts from TradingView.com
This Textbook Signal Predicts Ethereum Has Room to Drop After 35% Correction
Tweet123Share196ShareSend
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.

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 Price Pushes Higher

Ethereum Price Pushes Higher — Eyes Set on Next Major Barrier

Ethereum price started a fresh increase above the $2,520 zone. ETH is now back above $2,550 and might soon aim...

Aayush Jindal 7 hours ago
Bitcoin

Brazil’s Central Bank Hacked—$40M In Crypto Washed In Aftermath

Bitcoin is again in the spotlight as hackers hogged the headlines following a June 30 attack on C&M Software. The breach...

Christian Encila 2 hours ago
Ethereum

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

Ethereum’s price action is gearing up for a surge of epic proportions, according to crypto technical analyst MasterAnanda on the...

Scott Matherson 15 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 Bull Token tiek palaists šodien – jaunā kriptovalūtas sensācija ar bezmaksas Bitcoin atlīdzībām

lasma 1 hour ago
Dogecoin price analysis

Chartist Slams Misleading Dogecoin Analysis: ‘Focus On This Instead’

Jake Simmons 1 hour ago

本月最熱門迷因幣價格反彈:哪些冷門項目有望暴漲100倍?

Mark Mak 4 hours ago

Premium Sponsors

Press Releases

  • MEXC Releases Bimonthly Transparency Report: $559 Million...

    1 hour ago
  • Make $8,000 a day in stable passive income easily –...

    17 hours ago
  • SunnyMining——A passive income tool that allows ordinary...

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

    1 day ago
  • XRP Cryptocurrency × Dogecoin Mining: HASHJ launches...

    2 days 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.