Bitcoin’s 15% Weekly Gain Could Send Ethereum Flying: Here’s Why

Over the past few days, crypto assets — from Bitcoin and Ethereum to Dogecoin and Maker — have surged higher.
Since bottoming in the $8,200 range, the leading cryptocurrency BTC has surged as high as $9,425, marking a 15% gain. Although ETH, the second-largest cryptocurrency by market capitalization, has closely trailed Bitcoin, some say that a bigger surge for the altcoin will soon come to fruition.
Indeed, below, you can see Ethereum still trading below last week’s high of $177, despite Bitcoin trading as high as 3% above its previous local high around $9,200.

Economist: Bitcoin’s Bear Market Begins Once It Breaks Below This Level
Tuesday February 25, 2020

The past week has been volatile for Bitcoin, and yesterday was no exception. In the evening, BTC bulls were able to push the cryptocurrency up to highs of $10,000 before it faced a swift...

The post Economist: Bitcoin’s Bear Market Begins Once It Breaks Below This Level appeared first on 12bitplay - Bitcoin Play.

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Ethereum Could Soon Surge Towards $200, Analysts Say
Cryptocurrency trader Trajan of Split Capital recently noted that Ethereum’s volatility is currently lagging behind that of BTC. Despite this, he noted that as soon as ETH finds its legs, the price of the leading cryptocurrency can soon see a price of around $200 — a further 15% gain from the current price of $175.

Top Bitcoin Trader Offers Grave Warning to Investors Amidst Sharp Selloff
Tuesday February 25, 2020

Bitcoin (BTC) has seen some intense selling pressure over the past several days, with its recent flash crash from $10,200 to lows of $9,200 doing damage to the cryptocurrency’s technical strength, subsequently sparking what...

The post Top Bitcoin Trader Offers Grave Warning to Investors Amidst Sharp Selloff appeared first on 12bitplay - Bitcoin Play.

[Update]:
BVOL24H back above 3 pretty quickly with OV tailing off about 5-6k during that move. 100k is still a sizable amount and I think we can refill or remove another 10k.
EVOL7D is lagging behind a bit, but as ETHUSD ends up finding its legs soon, I think we will see ~$200.
— Trajan (@trajanmex) January 28, 2020

Ethereum Eyes Downside Thrust Before A Strong Upsurge
Tuesday February 25, 2020

Ethereum is currently declining and trading below $270 levels against the US Dollar. ETH price could dive towards the $255 support area before it starts a fresh upward move. Ethereum struggled to climb above...

The post Ethereum Eyes Downside Thrust Before A Strong Upsurge appeared first on 12bitplay - Bitcoin Play.

He isn’t the only one that thinks so.
Cryptocurrency trader Polar Hunt recently noted that ETH has been trading in a descending broadening wedge pattern, an often bullish price pattern, since July of last year. With this in mind, the trader wrote:
“Current BTC price action is only here to shake you out of ETH before $238.”
Satoshi Flipper, a prominent cryptocurrency trader, recently noted that Ethereum’s weekly chart is showing relatively bullish signs after bottoming around $120.
He specifically noted that the Heiken Ashi candles, which are a special charting technique used to more easily determine trends, have turned green on the weekly chart, suggesting a medium-term bull trend is forming.

$ETH Weekly Heikin Ashi = Bullish pic.twitter.com/OBq5TqGXVt
— Satoshi Flipper (@SatoshiFlipper) January 23, 2020

Flipper added that Ethereum has broken out of a falling wedge structure that constrained price action for six months, boding well for bulls.
Not to mention, analysts are currently expecting the leading cryptocurrency Bitcoin to continue to push higher over the coming days, further supporting the bullish case for ETH.
Featured Image from Shutterstock The post appeared first on NewsBTC.

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