• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
Ethereum

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

Cole Petersen by Cole Petersen
3 years ago
in Cryptocurrency news, Ethereum
Reading Time: 2 mins read
Advertisement

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.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.
No Deposit 40 FREE SPINS at Wild.io on SIGN UP. Wheel of fortune, daily bonuses, 10 BTC in prizes monthly! Start Playing Now!

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.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

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
Win up to $1,000,000 in One Spin at CryptoSlots
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

Gala Games 2023

Gala Games Plans for Mobile Gaming, GALA To Be The Primary Token

52 mins ago
MEXC Research: What to Expect from the Shanghai Upgrade on Ethereum

MEXC Research: What to Expect from the Shanghai Upgrade on Ethereum

3 hours ago
Bitcoin

Bitcoin Volatility Ahead? Open Interest Registers Sharp Jump

7 hours ago
bitcoin mining difficulty adjustment

Bitcoin Mining Difficulty Touches New ATH Following 4.68% Adjustment

9 hours ago
Bitcoin U.S. institutional investors

U.S. Institutions Are Driving Bitcoin Prices, Matrixport Research

3 days ago
Litecoin Whale Transactions Set New 2023 High, Bullish Signal?

Litecoin Whale Transactions Set New 2023 High, Bullish Signal?

4 days ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

“Gold has been the best performing investment asset over the last two decades”: an interview with Easygold

January 30, 2023

The Crypto Dream Team: Binance Coin (BNB), Polygon (MATIC) and Orbeon Protocol (ORBN)

January 30, 2023

Polygon (MATIC) and Fantom (FTM) Are Losing Favor With Investors As They Turn To Snowfall Protocol (SNW) For 1000x Potential Gains!

January 30, 2023

Tezos (XTZ) shares its 12th protocol upgrade, Twitch Co-Founder’s Gaming NFT Marketplace Expands to Polygon (MATIC) Network while Snowfall Protocol (SNW) Breaks Record Highs

January 30, 2023

Snowfall Protocol Investors Happy After the Release of Snowfall DEX, Twitch Co-Founder’s Solana Gaming Platform Fractal Expands to Polygon, And Majority of Dogecoin Holders Are in Profits Despite the Meme Coin Being Down 87% From Its 2021 ATH

January 30, 2023

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.

Links

Crypto Prices from Nomics

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
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games

© 2022 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.