Ethereum Holds ‘Bounce Or Die’ Level – Rebound To $4K Near?
Este artículo también está disponible en español. Amid the market corrections, Ethereum (ETH) has retested a key multi-year support level, suggesting that a bounce to $4,000 could be near. However, some market watchers noted that ETH has tapped an “interesting level” against Bitcoin, which could signal the time to celebrate is not here yet. Related Reading Ethereum Holds Key Support Level Over a week ago, the crypto market saw its biggest retrace in months, sending Bitcoin and most cryptocurrencies to monthly lows. Ethereum dropped to $2,120, hitting its lowest price range since the early August correction. Since then, ETH has moved within the $2,600-$2,830 price range, struggling to turn the range’s upper level into support for the past week. Yesterday’s market pullback, seemingly fueled by Donald Trump’s latest tariffs on steel and aluminum, saw Ethereum drop below the $2,600 support, a key resistance level before the Q3 2024 breakout. On Monday, the King of Altcoin reclaimed the recently lost support, trading above the $2,650 mark throughout the morning. Some market watchers noted that ETH remains in its “bounce or die” multi-year support. Ethereum retests its multi-year uptrend line. Source: Crypto Yoddha on X Ethereum has been in an uptrend support since 2022, retesting this trendline four times before. Each retest has been followed by a rebound to a key horizontal level in the following weeks. ETH faced resistance at the $1,900-$2,200 zone during the 2022 retests of the ascending trendline before breaking out. Meanwhile, the 2023 and 2024 rebounds saw ETH bounce from the uptrend support to face resistance at the $4,000-$4,100 levels. Market observer and investor Ted Pillows noted that Ethereum held its uptrend support since May 2023 after the recent retest, which could indicate that a rebound is near. If the pattern repeats, the cryptocurrency could break past the $4,100 resistance level and aim for new highs soon. ETH Price Action Resembles 2020-2021 Rally Ted also pointed out that ETH’s recent “capitulation candle” looked like March 2020’s. He explained that Ethereum recorded a major dump that led investors to believe the altcoin’s rally was over. However, the cryptocurrency bounced back, resulting in a “long-term structure breakout for Ethereum.” According to analyst Crypto Jelle, ETH currently trades in a multi-year ascending triangle, and the recent performance suggests that the next move “will be the real deal.” He noted that Ethereum’s next attempt would be the fourth retest of the $4,000 mark this cycle, which could “be the charm” as the resistance level weakens. A breakout and reclaim of this key resistance would potentially lead to a retest of the $4,878 all-time high (ATH). Related Reading Daan Crypto Trades highlighted that the ETH/BTC trading pair moved back to its 2016-2020 levels when it hovered between 0.023-0.036. The range’s upper zone served as a key resistance throughout these years, propelling ETH to ATH and local highs against BTC once turned into support. The trader considers that ETH/BTC could sit within this level “for quite a while” and that “the time to get excited again is when this retakes 0.036 at the very minimum.” As of this writing, Ethereum trades at $2,659, a 1.2% increase in the daily timeframe. Ethereum’s performance in the one-week chart. Source: ETHUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com Source link
‘Perfect Storm’ Forming—Analyst Predicts Bitcoin At $500K
They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley! So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better. Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one. Source link
Eric Trump’s Ethereum Endorsement Fuels Crypto Buzz
Este artículo también está disponible en español. After momentarily sliding below important support levels, Ethereum (ETH) is once again on the climb. After a significant change in market mood, the second-largest digital asset by market capitalization passed $2,900. Related Reading Interestingly, Eric Trump, the son of US President Donald Trump, weighed in on the situation, remarking that it is a strategic opportunity to acquire ETH. Tariff Pause Sparks Market Rebound Concerns over possible tariffs on Canada and Mexico rattled the crypto market earlier this week. Both Bitcoin and Ethereum fell significantly; Ethereum dropped momentarily to around $2,360. Still, the temporary suspension of the tariffs by Trump offered a breather, which raised investor confidence in risk assets including cryptocurrency. In the wake of the announcement, Ethereum experienced a robust recovery, with a nearly 20% increase. Traders interpreted this as an invitation to re-enter the market, and ETH promptly reclaimed the $2,900 mark. In my opinion, it’s a great time to add $ETH. — Eric Trump (@EricTrump) February 3, 2025 Eric Trump’s Crypto Endorsement Raises Eyebrows Eric Trump posted his optimistic view on Ethereum on social media. He first said, “In my opinion, it’s a great time to add $ETH. You can thank me later.” Although the subsequent section of his remarks was deleted, crypto investors saw resonance in his endorsement of Ethereum’s future development. The Trump family has been progressively involved in the digital asset sector, particularly through their World Liberty Financial platform. This most recent statement serves to emphasize their involvement and potential long-term dedication to blockchain technology. ETHUSD trading at $2,722 on the daily chart: TradingView.com World Liberty Financial’s Significant Ethereum Transaction World Liberty Financial recently made a substantial move in the crypto space, which has served to further fuel speculation. The firm transferred over $300 million in assets to Coinbase’s custody platform, according to blockchain analytics firm Spot On Chain. Furthermore, they acquired an additional 1,826 ETH for approximately $5 million and converted nearly 20,000 Lido Staked Ether (stETH) into ETH. World Liberty Financial (@worldlibertyfi) moved $307.41M in 8 assets to #CoinbasePrime 6 hours ago—as part of treasury management and business operations. Shortly after, the project unstaked 19,423 $stETH to $ETH and further spent 5M $USDC to buy 1,826 $ETH at $2,738.… https://t.co/Rp9NAFUs5N pic.twitter.com/5bfIvJma7U — Spot On Chain (@spotonchain) February 4, 2025 These transactions indicate that the company is making preparations for the introduction of its “Earn and Borrow” lending protocol. Although the protocol is still in the process of being developed, the substantial transfers suggest that the platform could soon play a significant role in decentralized finance (DeFi). Related Reading Ethereum’s Prospects Still Remain Positive As institutional interest is rising and the price of the top altcoin has recaptured higher levels, Ether remains a central focus in the crypto market. Macroeconomic changes, strategic investments, and political influence taken together provide an interesting dynamic for ETH’s future course. Featured image from Gemini Imagen, chart from TradingView Source link