• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Ethereum

This Smart Money Indicator Uncovers Early Signs Of An Ethereum Reversal

Tony Spilotro by Tony Spilotro
7 months ago
in Ethereum, Technical analysis
Reading Time: 2min read
ethereum smart money indicator obv

Business kids, children using laptop. Internet games, online

Advertisement

Ethereum has been leading the cryptocurrency market higher, helping to push Bitcoin through $10,000 and restart the overall market bull run.

But before new highs are set, the smart money indicator is hinting that a strong reversal is coming, and already may be underway.

Ethereum Carries Crypto Market Higher, Helps Bitcoin Push Through Critical Resistance

Ethereum has absolutely exploded from Black Thursday lows. Like Bitcoin, the second-ranked crypto asset spent months consolidating below resistance. While Bitcoin built momentum below $10,000 – resistance that it finally cracked – Ethereum surged through $250.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Since the top altcoin took out that resistance level, it has climbed a further 50% and then some, tapping highs around $400 and above.

Related Reading | Fund Manager: DeFi Will Propel Ethereum To $1 Trillion Market Cap

But while crypto investors FOMO into the smart-contract focused altcoin at the center of the DeFi trend, smart money could be taking profit from recent gains, according to the On-Balance Volume indicator.

Current price action resembles a healthy pullback, but given the indicator’s potential signal, a deeper reversal is also possible.

ethereum smart money on balance indiciator

Ethereum ETHUSD On-Balance Volume AKA Smart Money Indicator | Source: TradingView

Smart Money Indicator Calls for ETHUSD Correction, Or Potential Reversal

According to the On-Balance Volume indicator on ETHUSD 4-hour price charts, a head and shoulders pattern has formed on the indicator.

Chart patterns are more effective when drawn over price action, however, charting indicators is also a common strategy and yields positive results.

The indicator gets its name due to the idea that volume precedes price action. This concept suggests that smart money and other high wealth investors take positions ahead of the herd. On-Balance Volume shows this taking place right under the noses of unsuspecting market participants.

Related Reading | Ethereum Beats Bitcoin, Gold, and Stocks In Stimulus Check Investment

The indicator can, however, supply false signals, so its always worth waiting for a confirmation in price action to follow smart money’s lead.

If smart money is showing its hand through the OBV indicator, it is suggesting that Ethereum is ready for a strong reversal, and according to today’s drop, it potentially has already begun.

Any investors or traders who happened to spot this taking place on the OBV indicator could have pre-empted today’s broader market move.

Ethereum and other cryptocurrencies like Bitcoin are following precious metals, which are experiencing a healthy correction after enormous performance. Ethereum beat out all other investment types in total stimulus check investment return, for example.

That performance is nothing compared to Ethereum and Bitcoin returns recently, so any correction in crypto may be more severe by comparison. Both assets are showing signs of starting a new bull market, so bulls have a strong chance of staving off a full reversal.

Tags: altcoinscryptoETHethbtcEtherethereumethusdETHUSDTobvon balance volume
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

Related Posts

Ethereum

TA: Ethereum Bulls Keeps Pushing, Why $1,720 Is The Key For Fresh Rally

52 mins ago
Bitcoin

TA: Bitcoin Consolidates Above $50K Why BTC Could Face Bears At $52K

3 hours ago
Cardano (ADA)

Charted: Cardano (ADA) Remains Strong Above 100 SMA, Why It Could Rally Again

23 hours ago
Ethereum

TA: Ethereum Recovers Above $1,600, Why ETH Could Retest $1,500

1 day ago
Bitcoin

TA: Bitcoin Recovers From $45K, Why It Could Struggle Near $52K

1 day ago
bitcoin bear market

This Unique Take On Bitcoin Suggests A Bear Phase Is Near

1 day ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Oxygen Protocol to List OXY Tokens on BitMax

February 24, 2021

HOPR Hosts Global Token Launch Event on February 24th after First-Of-Its-Kind DAO Experiment

February 24, 2021

Egoras- a Decentralized Finance Ecosystem for Growing Markets!

February 23, 2021

Newsletter Signup


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.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +

© 2020 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.