• 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 Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
  • 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 Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
Bitcoinist.com
No Result
View All Result
Nexo

Here’s the “Do or Die” Price That Will Determine Ethereum’s Macro Trend

Cole Petersen by Cole Petersen
2 years ago
in Altcoin Price
0
Advertisement
  • Ethereum has remained stuck beneath its crucial near-term resistance level at $230
  • The crypto has been ranging sideways alongside Bitcoin and many of its peers, but it has been unable to remain within its long-held trading range
  • The break below this range appears to be a grim sign for the crypto
  • Where it trends next could largely depend on how it reacts to a crucial level that it is trading 10% above
  • Holding above this level is crucial for the cryptocurrency’s macro structure

Ethereum has continued trading in close tandem to Bitcoin – leading it to see an incredibly tight bout of consolidation as its buyers and sellers reach an impasse.

As for which direction it will trend next, it does appear that this could depend largely on its reaction to a crucial level that sits in the lower-$200 region.

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

One analyst is noting that a maintained defense of $210 could be enough to allow ETH to garner some significant upwards momentum.

He even notes that this momentum could lead the crypto up towards $350 in the near-term.

There is one grim technical factor that seems to suggest a test of this level is imminent.

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

Ethereum Consolidates Beneath Crucial Trading Range Following “Death Cross” Emergence

At the time of writing, Ethereum is trading up marginally at its current price of $227. The crypto has been hovering around this price level for many days now, struggling to recapture its position within its long-held trading range.

Analysts are now noting that ETH could be technically weak and see a decline independent of Bitcoin.

What is the best crypto casino in July 2022? Read our comprehensive comparison! We made deposits, played and reviewed 80+ crypto casinos to choose the best one.

One factor supporting this notion is the recent emergence of a dreaded “death cross” – the likes of which have not been seen since last March.

Bitcoinist reported about this pattern earlier this week, citing an analyst who said:

“Confirmed, death cross here as well – didn’t happen since March.”

Ethereum

Image Courtesy of Teddy. Chart via TradingView.

Death crosses like this tend to be trailing indicators that point to underlying weakness.

Analyst: $210 is a Crucial Level that ETH Buyers Must Defend 

The weakness that helped shape this death cross could lead Ethereum down towards its critical high time frame support at $210.

One analyst believes that the reaction to this level will determine the crypto’s future.

“ETH aiming for $350 this year in my opinion… As long as we hold $210 this is still valid. Thinking we flip $350 and see $500 taken out next year,” he said.

Image Courtesy of Cactus. Chart via TradingView.

Despite his bullish sentiment, it is essential to note that a break below this level could have grave consequences, potentially throwing Ethereum into an intense downtrend.

Featured image from Shutterstock.
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

Dogecoin and Elon, SpaceX launch

Dogecoin Crashes Back To Earth While Elon Musk Plays With Rockets

1 year ago
The Flippening in nature

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

1 year ago
Ethereum, undraw

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

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

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

1 year ago
Ethereum bull run

Ethereum And The Undeniable Signs Of A Bull Market

1 year ago
DeFi Total Value Locked. A safe.

Ethereum DeFi plus Binance Smart Chain Surpass $100 Billion In Total Value Locked

1 year 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 Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews

© 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.