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 Support Region Could Light the Fuse for Ethereum’s Next Rally

Cole Petersen
Cole Petersen
5 years ago
2 mins read
Ethereum

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 experiencing a notable rally yesterday, Ethereum lost its momentum and retraced a significant amount of these gains, with the crypto plunging back to its recently established support at $180 as it flashes some signs of weakness.

It is important to note that bulls have established the price region just below where Ethereum is currently trading at as a major support zone, with the quantity of buy orders here leading some analysts to anticipate this level to spark its next rally.

This also comes as the crypto begins forming a bullish technical pattern that could help catalyze further momentum – should it post a clean breakout in the coming several days.

Ethereum Retraces from Daily Highs, but the Bull Case Remains Strong

At the time of writing, Ethereum is trading down just under 1% at its current price of $181, which marks a notable decline from daily highs of just over $190 that were set yesterday evening.

The overnight retrace from these highs came about in tandem with the decline seen by both Bitcoin and most other altcoins.

It also came shortly after ETH posted a significant outperformance of the aggregated crypto market, as ETH is still trading up from daily pre-rally lows of $172, while Bitcoin’s latest dip erased virtually all of its recent gains.

In the near-term, analysts are now watching to see how Ethereum reacts to a broadening descending wedge formation that could help provide it with further upwards momentum – should it post a clean breakout.

One popular pseudonymous analyst pointed to this emerging pattern in a recent tweet while referencing the cryptocurrency’s weekly chart.

Ethereum
Image Courtesy of Big Cheds

Will Massive Support Be Enough to Spark ETH’s Next Explosive Rally?

This technical pattern isn’t the only thing currently counting in Ethereum’s favor.

Another prominent analyst on Twitter recently explained that he has been accumulating positions in ETH throughout the past couple of days, with an average entry of $181.

“ETH: Most buys filled. Average entry: ~$181. H12 Divergence playing out right now. Hoping for $176 to get the last remainder filled to bring the average down to $178.”

He also offered a chart elucidating the support that has been established just beneath Ethereum’s current price level, with the two major low-time-frame resistance levels he is targeting sitting at roughly $200 and $230 respectively.

Ethereum
Image Courtesy of Loma

The eventual longevity of this uptrend could be determined by how it reacts to this support in the time prior to its weekly close that will occur in the next few hours.

Featured image from Unsplash.
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

TRON Defies Market Dip as USDT Activity and Drawdown Metric Signal Growth

TRON Defies Market Dip as USDT Activity and Drawdown Metric Signal Growth

While the broader crypto market experienced a downturn with a 2.7% decline in total market cap over the past 24...

Samuel Edyme 3 hours ago
Ethereum Price Drops After Bullish Attempt

Ethereum Price Drops After Bullish Attempt — Support Area Under Pressure

Ethereum price started a fresh decline from the $2,520 zone. ETH is now back below $2,450 and struggling to stay...

Aayush Jindal 3 hours ago
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 4 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

PENGU爆量起飛42%價格突破0.0145美元 BTCBULL預售780萬最後FOMO階段!

Kelvin Lee 1 hour ago
Bitcoin, Crypto, BTC

Bitcoin Holds Key Level Amid $108,000 Rejection, But Analysts Suggest Caution This Quarter

Rubmar Garcia 2 hours ago

Акции Chainlink выросли почти на 12%

lisachaikina 2 hours ago

Premium Sponsors

Press Releases

  • Ethereum Enthusiasts Easily Earn a Stable Daily Income of...

    9 hours ago
  • Hledáte nejlepší kryptoměny k nákupu v roce 2025

    Hledáte nejlepší kryptoměny k nákupu v roce 2025? Tady...

    12 hours ago
  • Cauți cele mai bune criptomonede de cumpărat în 2025?...

    12 hours ago
  • Tražite najbolje kriptovalute za kupnju u 2025. 4 top izbora za vaš portfelj

    Tražite najbolje kriptovalute za kupnju u 2025.? 4 top...

    12 hours ago
  • 今が狙い目の割安アルトコイン特集|注目すべき銘柄をチェック!

    ...

    17 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.