• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Sensei Inu Logo Sensei Inu Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino
Breaking News: BREAKING: Ripple Scores Yet Another Win As Judge Torres Rejects SEC's Appeal Attempt
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Ripple Scores Yet Another Win As Judge Torres Rejects SEC's Appeal Attempt

Ethereum Could Soon Target $800 as Macro Market Structure Builds Strength

Cole Petersen by Cole Petersen
3 years ago
in Altcoin Price
0
  • Ethereum and the aggregated cryptocurrency market has been seeing immense volatility as of late
  • Yesterday, ETH declined to lows of $427 before finding some strong support that slowed its descent and sparked a sharp rebound
  • The cryptocurrency has been trying to confirm $450 as a level of support throughout the past few days, as this is a crucial level that must be held above for it to see further upside
  • Where the market trends next will depend largely on Bitcoin, as Ethereum is finally beginning to move in tandem with the benchmark digital asset
  • One trader is noting that over a macro timeframe, he is expecting a move towards $800, making these micro fluctuations simple noise when it comes to its long-term outlook

Ethereum has been closely tracking Bitcoin’s price action throughout the past few days, which marks a major shift from its previous trend of seeing stagnating price action while BTC rallied higher.

ETH is now on track to catch up to Bitcoin’s gains, but for it to do so, it must establish $450 as a strong base of support.

One trader is watching for a macro move up towards $800, noting that he expects serious upside in the days and weeks ahead.

Ethereum Reclaims $450 Support as Buyers Regain Control

At the time of writing, Ethereum is trading up over 4% at its current price of $453. This marks a serious climb from its recent lows of $427 that were set just hours ago.

These lows came about due to the selling pressure that pushed Bitcoin from the mid-$15,000 region down to lows of $14,400. The headwinds created by this movement were insurmountable for altcoins.

Ethereum has since erased all of these losses and is looking even stronger than it was before.

ETH Likely to Rally Towards $800 Eventually, Claims Analyst

While sharing his thoughts on where Ethereum might trend over a mid-term time frame, one analyst explained that he is adding to his holdings now intending to sell between $700 and $800.

“ETH: Added a big stack of ETH at the $442 support retest. I’m serious about not missing the eventual big move up to $700 to $800. Looking for a break of the previous range above. Will play this level by level with stops below my entry,” he said.

Ethereum

Image Courtesy of Josh Rager. Source: ETHUSD on TradingView.

So long as Bitcoin remains stable and Ethereum can hold above $450 before its weekly candle close, there’s a strong possibility that it will soon see significantly further upside.

Featured image from Unsplash.
Charts from TradingView.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

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

WOO Network Posts 50% Rally In Last 7 Days – Will WOO Keep Rising Next Week

WOO Network Posts 50% Rally In Last 7 Days – Will WOO Keep Rising Next Week?

6 months ago
Dogecoin and Elon, SpaceX launch

Dogecoin Crashes Back To Earth While Elon Musk Plays With Rockets

2 years ago
The Flippening in nature

Could Dreams Of Ethereum Flippening Bitcoin Be “Officially Cancelled”?

2 years ago
Ethereum, undraw

Sentiment Flippening: Why This Bitcoin Expert Doesn’t Own Ethereum

2 years ago
Dogecoin Plummets 30% From Highs Following Elon Musk’s SNL Appearance 

Dogecoin Plummets 30% From Highs Following Elon Musk’s SNL Appearance 

2 years ago
Ethereum bull run

Ethereum And The Undeniable Signs Of A Bull Market

2 years ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit

Press Releases

  • Bullrun Forecast: 5 Cryptos Set for 2,500% Rise

    2 hours ago
  • Cardano (ADA) On-Chain Staking Launches on Another Crypto...

    7 hours ago
  • The Next Dogecoin? Scorpion Casino Token vs Wall Street...

    8 hours ago
  • Don’t Miss Out On What Could Be The Next...

    9 hours ago
  • PayPal’s Stablecoin Boosts Crypto Credibility; Ripple...

    1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino

© 2023 Bitcoinist. 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.