{"id":109435,"date":"2021-01-22T21:57:04","date_gmt":"2021-01-22T21:57:04","guid":{"rendered":"https:\/\/precoinnews.com\/?p=109435"},"modified":"2021-01-22T21:57:04","modified_gmt":"2021-01-22T21:57:04","slug":"ethereum-could-see-an-explosive-move-higher-following-massive-20-surge","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ethereum-could-see-an-explosive-move-higher-following-massive-20-surge\/","title":{"rendered":"Ethereum Could See an Explosive Move Higher Following Massive 20% Surge"},"content":{"rendered":"<ul>\n<li>Ethereum has been trading as a higher beta asset to Bitcoin as of late, closely tracking the benchmark crypto but seeing more drastic movements<\/li>\n<li>Last night&rsquo;s Bitcoin selloff proved to be somewhat dire for ETH, with it sending the cryptocurrency down to lows of $1,040<\/li>\n<li>This decline marks a 30% retrace from ETH&rsquo;s recent highs of $1,450 that were set just a few days back<\/li>\n<li>In the time since these lows were set, however, Ethereum has posted a strong v-shaped recovery that could mark a macro bottom<\/li>\n<li>One trader spoke about its performance in a recent tweet, noting that its strength against Bitcoin also indicates that upside is imminent<\/li>\n<\/ul>\n<p>Ethereum has seen some turbulent price action throughout the past few days and weeks, with the selling pressure around its all-time highs of $1,450 sparking an intense downtrend that was magnified by Bitcoin&rsquo;s weakness.<\/p>\n<p>This selloff turned into capitulation yesterday evening, and the crypto has been climbing higher ever since it saw a sharp pullback to lows of $1,040<\/p>\n<p>One analyst is now optimistic on ETH, noting that the cryptocurrency&rsquo;s strength against both Bitcoin and its USD pair suggests it could soon see some massive upside.<\/p>\n<h2><strong>Ethereum Forms Classic &ldquo;V-Shaped&rdquo; Recovery<\/strong><strong>&nbsp;<\/strong><\/h2>\n<p>At the time of writing, Ethereum is trading up over 20% from its overnight lows at its current price of $1,230.<\/p>\n<p>The massive recovery it has seen has also allowed it to outperform Bitcoin, which is also up significantly from its recent lows.<\/p>\n<p>ETH&rsquo;s strong rebound may suggest that investors are keener on buying its dips because it has yet to break its all-time highs and see price discovery.<\/p>\n<h2><strong>Analyst: ETH&rsquo;s Rebound Suggests Massive Upside is Imminent<\/strong><\/h2>\n<p>One analyst explained in a recent tweet that Ethereum&rsquo;s rebound against its Bitcoin pair and USD pair suggests that it could soon see a &ldquo;proper&rdquo; rally.<\/p>\n<p>This could mean that another test of its all-time highs is imminent, but this time the crypto may be able to shatter the resistance that exists here.<\/p>\n<blockquote>\n<p>&ldquo;ETH against BTC looks very good for continuation and a proper rally. Expecting large inefficient move on ETH if BTC shows some strength \/ dead-cat bounce today.&rdquo;<\/p>\n<\/blockquote>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/01\/EsVNjbMXAAIAA1F-860x438.jpg\"><\/p>\n<p>Image Courtesy of Livercoin. Source: ETHUSD\/ETHBTC on TradingView.<\/p>\n<p>The coming few days should shine some light on Ethereum&rsquo;s outlook, as an extension of this current momentum could lead to further upside in the days and weeks ahead.<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-could-see-an-explosive-move-higher-following-massive-20-surge\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum has been trading as a higher<\/p>\n","protected":false},"author":3,"featured_media":109434,"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 Could See an Explosive Move Higher Following Massive 20% Surge - 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-could-see-an-explosive-move-higher-following-massive-20-surge\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Could See an Explosive Move Higher Following Massive 20% Surge - 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