{"id":108825,"date":"2021-01-19T16:10:36","date_gmt":"2021-01-19T16:10:36","guid":{"rendered":"https:\/\/precoinnews.com\/?p=108825"},"modified":"2021-01-19T16:10:36","modified_gmt":"2021-01-19T16:10:36","slug":"ethereum-rallies-towards-all-time-highs-as-btc-stalls-what-analysts-are-saying","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ethereum-rallies-towards-all-time-highs-as-btc-stalls-what-analysts-are-saying\/","title":{"rendered":"Ethereum Rallies Towards All-Time Highs as BTC Stalls; What Analysts are Saying"},"content":{"rendered":"<ul>\n<li>Ethereum has seen a monumental rally throughout the past couple of days, with bulls taking full control over its price action<\/li>\n<li>This has come as BTC remains relatively stable in the upper-$30,000 region, with its stability giving altcoins the chance to rally<\/li>\n<li>ETH has yet to set fresh all-time highs despite its recent gains, but the crypto could be on the cusp of surging even higher as it begins establishing some support just below its current price<\/li>\n<li>One analyst is now pointing to a fractal showing Bitcoin&rsquo;s reaction to its local highs several weeks ago<\/li>\n<li>If ETH follows in its footsteps, it may see a pullback before it can rally to all-time highs<\/li>\n<\/ul>\n<p>Ethereum and many other altcoins have been caught in a wild uptrend throughout the past few days and weeks.<\/p>\n<p>Buyers and sellers had both been struggling to gain firm control of ETH&rsquo;s price action, with the recent breakout rally marking a firm end to this previous trend.<\/p>\n<p>Despite being bullish on ETH in the mid-term, one analyst is now noting that there&rsquo;s a possibility it will pull back before it can gain further momentum.<\/p>\n<p>This possibility is rooted in an analysis of Bitcoin&rsquo;s price action when it moved to break its local highs in late-2020.<\/p>\n<h2><strong>Ethereum Rockets Higher as Crypto Market Stalls<\/strong><strong>&nbsp;<\/strong><\/h2>\n<p>At the time of writing, Ethereum is trading up just under 12% at its current price of $1,407. This marks a notable rebound from its recent lows of $900 set just a few weeks ago.<\/p>\n<p>The crypto is now in the process of taking outs its previous local highs.<\/p>\n<p>This doesn&rsquo;t come as a surprise, but there is some resistance within the mid-$1,400 region from bears looking to defend against a break above these highs.<\/p>\n<p>Once flipped to support, however, ETH could gain parabolic momentum similar to that seen by Bitcoin and multiply its previous all-time highs.<\/p>\n<h2><strong>Trader: ETH Could Slide Lower Before Seeing Further Parabolic Momentum<\/strong><\/h2>\n<p>One trader mused the possibility that Ethereum will follow in Bitcoin&rsquo;s footsteps and slide lower after taking out its highs before seeing further momentum.<\/p>\n<blockquote>\n<p>&ldquo;The high has now been taken. Let&rsquo;s see the ETH response from here. BTC spent 24 hours around its high before eventually selling off so not expecting an immediate response. Bulls (and me) hoping for a power through instead of a grind here.&rdquo;<\/p>\n<\/blockquote>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/01\/EsF0xEFXUAINmVi-860x452.jpg\"><\/p>\n<p>Image Courtesy of Cold Blooded Shiller. Source: ETHUSD on TradingView.<\/p>\n<p>The coming several days should provide some insights into Ethereum&rsquo;s outlook, which Bitcoin will undoubtedly play some role in shaping.<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/news\/ethereum\/ethereum-rallies-towards-all-time-highs-as-btc-stalls-what-analysts-are-saying\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum has seen a monumental rally throughout<\/p>\n","protected":false},"author":3,"featured_media":108824,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ethereum Rallies Towards All-Time Highs as BTC Stalls; What Analysts are Saying - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/ethereum-rallies-towards-all-time-highs-as-btc-stalls-what-analysts-are-saying\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Rallies Towards All-Time Highs as BTC Stalls; 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