Things are “Getting Serious” for Ethereum as Analysts Eye Continuation


  • Ethereum is currently in a precarious position due to it flashing some immense weakness against its Bitcoin trading pair in recent weeks
  • This has created some headwinds for its USD pair as well, leading to a pattern of severe underperformance against the benchmark cryptocurrency and even other altcoins
  • It has still been able to post some notable gains as of late, but it has not yet seen the rally that many investors and analysts expected it to see
  • Where it trends in the mid-term may depend largely on whether or not it can continue bottoming out above a key support level
  • One trader is expecting things to start getting “serious” for ETH, with its mounting technical strength potentially paving the way for further mid-term upside

Ethereum has been flashing signs of weakness as of late, with buyers and sellers largely reaching an impasse as the cryptocurrency underperforms Bitcoin and faces some general consolidation.

Although it has rallied as of late, it is important to note that its underperformance against Bitcoin has been quite noticeable and may be part of why it has been unable to rally.

How To Get Free Crypto  

One trader believes that it is about to see a massive upswing in the near-term, noting that things are getting serious for the cryptocurrency.

Reloads and free spins available every day, for every player, in mBitcasino Crypto Autumn Bonanza! Play Now!

Ethereum Shows Signs of Strength Despite Underperformance

Ethereum has been severely underperforming Bitcoin as of late. This has caused it to see some weakness on its USD pair as well.

At the time of writing, the cryptocurrency is trading up just under 2% at its current price of $665, which marks a notable decline from its recent highs of $668 that were set just a few days ago.

It is forming a close correlation to Bitcoin, making it vital that BTC continues rising in the near-term for ETH to see any major momentum.

Coinbase Banner  

Analyst: Things are Getting Serious for ETH

One trader explained in a recent tweet that things are starting to get serious for Ethereum, signaling that it may be on the cusp of seeing a strong push higher in the days and weeks ahead.

“ETH / USD: Things get serious, expecting large continuation soon,” he said while pointing to the below chart.

Image Courtesy of Cactus. Source: ETHUSD on TradingView.

So long as major altcoins continue gaining momentum, there’s a strong possibility that Ethereum will gain some ground against Bitcoin and venture higher in the mid-term.

Featured image from Unsplash.
Charts from TradingView.

Go to Source
Author: Cole Petersen


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.