• 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 (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
  • 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 (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
Ethereum

Ethereum Bearish Pressure Can Drag ETH Back Down To $1,000 – Here’s Why

Christian Encila by Christian Encila
3 months ago
in Cryptocurrency news
Reading Time: 3 mins read
Advertisement

Ethereum completed its shift from proof-of-work (PoW) to proof-of-stake (PoS) via the highly anticipated “merge” last September 15, 2022.

But after more than a month from that historic event, Bitcoin’s closest rival still has nothing to show for as its price flat-lined as it failed to take off despite the hype that surrounded the second largest cryptocurrency before the merge.

  • Ethereum struggles to breach and sustain the $1,300 marker
  • ETH is caught in a pattern that will extend its bearish momentum
  • A bullish run is still possible with $1,400 as the immediate target

At press time, according to tracking from Coingecko, Ethereum is trading at $1,297 and while it managed to increase by 3.6% over the last 30 days, it is still nowhere near the level it was expected to be after its blockchain’s transition.

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!

The coming days could prove to be more challenging for the digital asset as there’s a possibility it could experience severe price dump.

Related Reading: Flow Rolls Out Blockchain Tools As Social Dominance, Coin Price Seen Rising

Ethereum Could Be Looking At $1,000 As Support

The altcoin’s daily technical chart shows its price established a symmetrical triangle pattern which accelerates prevailing trend movement.

In Ethereum’s case, this is not favorable news considering it has been on a consistent decline over the last few weeks.

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

With its current bearish momentum, ETH could end up being in a steep fall all the way to support range of between $1,200 and $1,000.

The asset’s volatility is also high, but this could work either way as it presents an opportunity for an upward break in the trendline that could trigger a price rally up to $1,400.

If Ethereum manages to keep $1,400 as a resistance marker and continue with a bullish movement, it could prime itself to test the $1,550 levels.

The King Of Altcoins Can Still Surge

While some sectors in the crypto space has called the Merge as a dud, Ethereum still has a lot of fight left in it as there is still chance for it to surge and be back in conversations of being at par with Bitcoin.

In fact, even if BTC price remains in status quo and consolidates for a while, ETH’s could start its own rally to surge and invalidate the previous bearish thesis about its trajectory.

If the conditions are met and Ethereum manages to flip the crucial $1,730 resistance marker, it will revisit the psychological $2,000 level.

If that happens, the digital asset will be several steps closer to its all-time high of $4,878 which was attained in November of last year.

ETH total market cap at $159.2 billion on the weekend chart | Featured image from Forkast, Chart: TradingView.com

Disclaimer: The analysis represents the author's personal views and should not be construed as investment advice.
Tags: altcoinbitcoinbtcbtcusdcryptocurrencyETHethereumethusd
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Christian Encila

Christian Encila

Freelance writing is Christian's other cup of tea. When not on his computer, he unwinds with a bottle of beer and laughs with his son over cartoons. Other than that, he's just like everybody else who wants to be happy with their life.

Related Posts

Increase In Shiba Inu Burn Rate Does It Signify The Normal

Shiba Inu Observes Highest Rise In Burn Rate – Is This Normal?

15 hours ago
AAVE

AAVE Seeks Proposal To Clear Itself Of Bad Debt – Can It Overcome These Obstacles?

16 hours ago
Litecoin

Litecoin (LTC) Displays Consolidation – Can We Expect A Reversal Soon?

22 hours ago
Digital assets got government support in 2022

Digital assets got government support in 2022

22 hours ago
Fasttoken (FTN) Secures Multi-Million Dollar Investment to Advance Its Web 3 Ecosystem

Fasttoken (FTN) Secures Multi-Million Dollar Investment to Advance Its Web 3 Ecosystem

1 day ago
U.S. Government Releases Roadmap To Mitigate Crypto Risk For Investors

U.S. Government Releases Roadmap To Mitigate Crypto Risk For Investors

2 days ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
Metaspins

Metaspins

Review · Visit
Coinplay

Coinplay

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Fantom (FTM) founder makes announcement as they complete 100% rally, Solana (SOL) development updates & Why investors are flocking to Snowfall Protocol (SNW)

January 29, 2023

Dogecoin (DOGE) and Axie Infinity (AXS) Don’t Offer The Same 1000x Potential As Snowfall Protocol (SNW) According To Market Analysts

January 29, 2023

Crypto Market News Live: Aptos Soars Another 60% This Week in A Continued Price Rally, PancakeSwap Burns $100m Worth Of CAKE, Snowfall Set to Moon After Exceptionally Successful Presale Campaign

January 29, 2023

BudBlockz’s 220% Growth Puts It Ahead of Dogelon Mars and Floki Inu

January 28, 2023

MATIC Gains Over 20% As Polygon Network Records Biggest Whale Transaction Of 2023

January 28, 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.