ICOCalendar.Today

  • ICO Directory đź“–
  • ICT Token 🔥
  • Blockchain News đź—ž
    • Ethereum
    • Binance
    • Cryptocurrency
    • Litecoin
    • Monero
    • Ethereum Classic
    • Bitcoin
    • Tezos
    • Tron
    • Cardano
    • EOS
    • Algorand
    • ZCash
    • Dash
    • Chainlink
    • NEO
    • Maker
    • DeFi
  • List a project đź’Ł
  • Submit Press Release 👍
  • ICO Directory đź“–
  • ICT Token 🔥
  • Blockchain News đź—ž
    • Ethereum
    • Binance
    • Cryptocurrency
    • Litecoin
    • Monero
    • Ethereum Classic
    • Bitcoin
    • Tezos
    • Tron
    • Cardano
    • EOS
    • Algorand
    • ZCash
    • Dash
    • Chainlink
    • NEO
    • Maker
    • DeFi
  • List a project đź’Ł
  • Submit Press Release 👍

Ethereum Faces Confluence of Bullish Factors as Analysts Eye Move to $200

4/5/2020

Comments

 
Ethereum has been struggling to garner any momentum as it faces heightened resistance around the mid-$140 region, with this bout of consolidation coming about in tandem with that seen by Bitcoin and most other altcoins. In spite of this, ETH has been able to form a bullish textbook charting pattern that may give it some notable momentum once it breaks through the resistance it is facing around its current price levels. This also comes as the crypto incurs some notable fundamental strength, with one on-chain metric suggesting that ETH is poised to see some serious near-term upside. Ethereum Consolidates Below $145 as Bullish Technical Pattern Emerges  At the time of writing, Ethereum is trading down marginally at its current price of $143.70. This is the price at which ETH has been trading at for the past few days, with its rally seen earlier this past week allowing it to climb to highs of $145 before being rejected. Bulls then tested this level again on multiple occasions, with each time resulting in a similar rejection. It is important to note that consolidation directly below resistance can be viewed as a bullish sign, as it often suggests that an upwards breakout is imminent. Another key factor that could bolster Ethereum in the days ahead is the fact that it has formed what appears to be an ascending triangle with an upper boundary existing at just over $145. Josh Olszewicz, a prominent cryptocurrency analyst, pointed out this emerging pattern in a recent tweet, while offering a chart with a target existing at roughly $200. Image Courtesy of Josh Olszewicz On-Chain Metrics Also Point to Imminent ETH Upside  Growing technical strength isn’t the only thing currently counting in Ethereum’s favor. As NewsBTC reported yesterday, data from analytics platform Glassnode shows that exchanges are currently seeing their highest ETH balance since December of 2016. Exchange balance has proven to be inversely correlated with Ethereum’s price action, which means that the crypto could be well positioned to make a massive upside movement. “Since late 2019, ETH exchange balances have increased by more than 21% to over 18,187,000 – which represents ~16% of Ethereum’s circulating supply. The last time we saw levels this high was in December 2016.” Image Courtesy of Glassnode If this inverse correlation continues holding strong, the growth in the balance of Ethereum on exchanges does suggest that the crypto will soon see some massive near-term upside, which could be further bolstered by its technical strength. Featured image from Shutterstock.

Via https://www.newsbtc.com/2020/04/05/ethereum-faces-confluence-of-bullish-factors-as-analysts-eye-move-to-200/
Comments

    Blockchain News

    Leading global blockchain news provider. A blockchain, originally block chain, is a growing list of records, called blocks, that are linked using cryptography.
    BLOCKCHAIN NEWS

    Archives

    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    November 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017

    RSS Feed

​About

  • About us​
  • ICT Token
  • News​​
  • Testimonies
  • Terms of Service​​
  • ​​We on Google News​ 🤑
  • ​We in the media
  • ​Partners

Let's connect!

News Feeds

  • Blockchain News
  • Jobs Board 👨‍🎓
  • Bitcoin News
  • Ethereum News
  • Binance News
  • ​Tron News
  • Cardano News
  • EOS News
  • Tezos News
  • Stock Markets
  • COVID-19 News
  • Crypto News
  • Chainlink News
  • Litecoin News
  • Dash News
  • Monero News
  • ETC News
  • NEO News
  • Maker News
  • DeFi News
  • ZCash News
  • Algorand News
© 2017-2020 ICOCalendar.Today. All Rights Reserved.