• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin 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 Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin 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 Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Nexo

Ethereum has Reached a Key Demand Zone as Analysts Eye Parabolic Move

Cole Petersen by Cole Petersen
2 years ago
in Altcoins
0
Advertisement
  • Ethereum’s price has reached a key demand zone following an extended period of weakness against Bitcoin
  • This demand zone is so far proving to be a strong support level for the cryptocurrency, but it still has a long way to go before it can gain any significant ground against Bitcoin
  • One trader is now noting that it is only a matter of time before ETH’s price rockets higher
  • He points to the strength of its present support against Bitcoin as well as the upcoming launch of CME ETH futures as reasons why upside might be imminent in the near-term
  • The culmination of its technical support and fundamental strength due to this coveted listing could suggest that a massive uptrend is imminent

Ethereum has been struggling to gain any serious momentum as of late, with its weakness against Bitcoin causing its USD trading pair also to flash signs of immense weakness.

Where it trends in the near-term might depend largely on Bitcoin’s price action, as any continued upwards momentum could cause altcoins like ETH to hold to the recent pattern of underperformance.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

One trader explained that the upcoming CME futures listing coupled with its strong support indicates that a serious push higher is imminent in the near-term.

Ethereum Continues Losing Ground Against Bitcoin 

At the time of writing, Ethereum is trading down just under 2% at its current price of $650. This is around the price at which the crypto has been trading throughout the past few days and weeks.

The selling pressure it has been facing has primarily come about due to weakness seen against the cryptocurrency’s BTC pair.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Bitcoin’s strength has caused most altcoins to lose ground against it and may continue hampering their price action in the mid-term.

Analyst: ETH Reaches Key Support as Selling Pressure Mounts

One trader explained in a recent tweet that Ethereum is now nearing a key support level that could continue bolstering its price against Bitcoin and allow it to see some further upside.

He also notes that the upcoming CME futures listing could be a catalyst for growth.

“ETH – Weekly macro. Back on demand zone. I’m expecting a lower high to print very soon, before the beginning of a reversal. As money floods in the crypto, it’s only a matter of time before the second biggest asset gets institutional funding. Not to mention CME opens in Feb.”

Ethereum

Image Courtesy of NekoZ. Source: BTCUSD on TradingView.

It may take some time to truly understand Ethereum’s positioning against Bitcoin, but for the time being, it is showing some immense signs of weakness.

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

Sango, President Faustin-Archange Touadéra

The Central African Republic Unveils Sango Project, Disappoints The World

2 days ago
Three Arrows Capital (3AC)

Inside The Three Arrows Capital (3AC) Collapse And The Lessons It Has Taught Crypto

2 weeks ago
Celsius

Hindsight 20/20: The ‘Missed’ Signs Of The Celsius Insolvency

3 weeks ago
Harvard Professor in front of a blackboard

A Harvard Professor’s Loony And Sadistic Suggestions For Crypto Regulation

3 weeks ago
New ERC-20 token created

Shitcoin Season Over? ERC-20 Token Creations Drops 39% In One Month

4 weeks ago
NYDIG, jenga tower

NYDIG Paper Claims Algorithmic Stablecoins Are Impossible And DeFi Too Risky

4 weeks 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
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin 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 Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 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.