• Advertise
  • Submit a Press Release
  • About Us
NewsBTC

Bitcoin & cryptocurrency news

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • CasinosTry
  • Play GamesTry
  • Play Casino GamesTry
  • Best Crypto CasinoTry
No Result
View All Result
Breaking News: Ethereum Price Cracks Above $2,000 As BlackRock Eyes ETH ETF
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • CasinosTry
  • Play GamesTry
  • Play Casino GamesTry
  • Best Crypto CasinoTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Ethereum Price Cracks Above $2,000 As BlackRock Eyes ETH ETF
Ethereum

This “Ugly” Technical Formation Could Spell Doom for Ethereum Bears

Cole Petersen by Cole Petersen
4 years ago
in Cryptocurrency Market News, Ethereum
Reading Time: 2 mins read

Ethereum, like Bitcoin and most other major altcoins, has been firmly caught in a consolidation phase over the past few days and weeks, which has led it to stabilize around $130 as bulls and bears both attempt to take control of the cryptocurrency.

One analyst is noting that there are a couple technical formations that could allow the cryptocurrency to rally higher in the days ahead, with one of these formations potentially allowing it to bust through a key resistance region.

It is possible that this bullishness will be invalidated if Bitcoin is unable to stabilize or climb higher in the near-term.

Ethereum Enters Bout of Range Bound Trading as Market Consolidates

At the time of writing, Ethereum is trading down just under 3% at its current price of $129, which marks a decline from daily highs of nearly $136, and only a slight climb from lows of $126 that were set earlier this morning.

ETH appears to be closely tracking Bitcoin in the near-term, with the benchmark cryptocurrency currently trading sideways around $6,000.

Because the entire crypto market is currently consolidating, it is probable that a massive movement is imminent in the days ahead.

The key level that analysts are watching for Ethereum currently sits around $150, as a break above this level is imperative in order for the crypto to climb higher in the days and weeks ahead.

Cold Blooded Shiller, a prominent cryptocurrency analyst on Twitter, explained in a tweet that he isn’t able to look upon ETH with a bullish perspective until it is able to decisively break above the $150 to $160 level.

“I’ll start to speak more positively about ETH when we’re trading above here,” he noted.

I'll start to speak more positively about $ETH when we're trading above here. pic.twitter.com/Zkt14UaSw1

— Cold Blooded Shiller (@ColdBloodShill) March 21, 2020

These Bullish Factors Could Lead ETH Significantly Higher 

Josh Olszewicz, another well-respected cryptocurrency analyst, explained in a recent tweet that there are two key factors that could provide Ethereum with some upwards momentum in the days and weeks ahead.

“4h ETH: e2e setup brewing, needs a bit more time for a higher probability trade. ugly iHS possible too. SL = 130ish. TP = 170,” he explained.

4h $ETH

e2e setup brewing, needs a bit more time for a higher probability trade

ugly iHS possible too

SL = 130ish
TP = 170 pic.twitter.com/2Y0EKuYUov

— Josh Olszewicz (@CarpeNoctom) March 22, 2020

If the “end-to-end” set up he references does play out, it is possible that the “ugly” inverse head and shoulders pattern that is currently forming could be validated, further bolstering ETH and providing it with some significant upwards momentum.

Featured image from Shutterstock.
Tags: cryptoETHethereum
Tweet123Share196ShareSend
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.

Related Posts

Avalanche

Avalanche Rules Top 10 Ranking With 61% Weekly Gain – Here’s The Scoop

4 hours ago
Ethereum price crash

Why Is Ethereum Price Down To $2,200 Today?

6 hours ago
Bitcoin

Hold Your Horses: Bitcoin Could Fall Back To Under $38,000, These Analysts Say

9 hours ago
Brian Armstrong Announces Solana Integration – Everlodge Announces AI Integration

Brian Armstrong Announces Solana Integration – Everlodge Announces AI Integration

10 hours ago
3 Reasons To Watch The Bitcoin Price This Week As Bitcoin Minetrix Token Raises $5 Million

3 Reasons To Watch The Bitcoin Price This Week As Bitcoin Minetrix Token Raises $5 Million

23 hours ago
Ethereum

Ethereum Rises: ETH Remains Steady At Over $2,300 Amid Bull Market Expectations

1 day ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit
Inmerion

Inmerion

Review · Visit

Press Releases

  • The Top Three Altcoins Whales Are Accumulating in December...

    43 mins ago
  • These 3 tokens under $3 are worth every penny, Shiba Inu...

    6 hours ago
  • Crypto News Update: Dogecoin (DOGE) hit the resistance at...

    6 hours ago
  • Green Bitcoin Uses Less Energy Than Bitcoin and Others...

    1 day ago
  • The Top 5 Crypto Presales for 100x Returns In 2024

    1 day ago

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.

Cryptocurrency news

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

Technical Analysis

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

Company

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

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best Crypto Casino

© 2023 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.