{"id":413869,"date":"2020-02-07T17:00:30","date_gmt":"2020-02-07T17:00:30","guid":{"rendered":"https:\/\/wncen.com\/?p=413869"},"modified":"2020-02-07T16:53:19","modified_gmt":"2020-02-07T16:53:19","slug":"growing-ethereum-volume-major-bullish-sign","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/growing-ethereum-volume-major-bullish-sign\/","title":{"rendered":"Surging Ethereum Volume While Price Skyrockets Is Major Bullish Sign"},"content":{"rendered":"<p>The number two cryptocurrency by market cap, <a href=\"\/tag\/ethereum\" rel=\"nofollow\">Ethereum<\/a>, has been rallying alongside the rest of the crypto and altcoin market and has recently even outperformed Bitcoin by a significant margin.<\/p>\n<p>Surging Ethereum prices have also coincided with growing volume, which is an extremely bullish sign that the asset is in good health and the crypto market may be ready to rally even higher in the coming days.<\/p>\n<h2>Ethereum Volume Surging Alongside Price is Bullish Signal<\/h2>\n<p><a href=\"\/tag\/ethereum\" rel=\"nofollow\">Ethereum<\/a> is up nearly 75% since the start of 2020 and has grown over 92% from the low of $116 it set in December 2019 before the year came to an end.<\/p>\n<p>Following two years of a downtrend in the number two cryptocurrency by market cap, investors who may be reluctant to buy in at current levels fearing more downside may now have reason to take the risk.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2020\/02\/04\/alt-season-cancelled-xrp-ethereum-and-litecoin-all-trigger-sell-signal\/\">Alt Season Cancelled? XRP, Ethereum, and Litecoin All Trigger Sell Signal\u00a0<\/a><\/strong><\/em><\/p>\n<p>According to new data from <a href=\"https:\/\/skew.com\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Skew<\/a> crypto market analytics, <a href=\"\/tag\/ethereum\" rel=\"nofollow\">Ethereum<\/a> volumes are back and growing, reaching as much as over $600 million in yesterday&#8217;s trading session on Bitcoin-based margin trading platform BitMEX.<\/p>\n<p>https:\/\/twitter.com\/Josh_Rager\/status\/88782594?s=19<\/p>\n<p>After a strong spike around mid-January, volume fell back to stable levels, but have been rising steadily since. Crypto analysts conclude that the increase in volume along with an increase in price in Ethereum is extremely bullish and could signal far more upside in the days ahead.<\/p>\n<h2>Can the Crypto Asset Reclaim Its All-Time High?<\/h2>\n<p>During the crypto bubble of 2017, <a href=\"\/tag\/ethereum\" rel=\"nofollow\">Ethereum<\/a> prices ballooned to as high as $1,400 per ETH, but following the bubble popping, prices fell over 94% to lows of around $80.<\/p>\n<p>In 2019, Etheruem recaptured much-lost ground, gaining over 330% and reaching a yearly high of $365, before the number two cryptocurrency crashed again to the recent local low of $116.<\/p>\n<p>In just over a month, <a href=\"\/tag\/ethereum\" rel=\"nofollow\">Ethereum<\/a> has nearly doubled in price, reaching $220 and preparing to rip higher if the resistance level above can be taken out.<\/p>\n<p>The growth in volume supports further expansion, which could propel Etheruem to as much as $300.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-413877\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/02\/Screen-Shot-2020-02-07-at-11.48.25-AM.png?resize=860%2C652\" alt=\"ethereum price chart\" width=\"860\" height=\"652\"><\/p>\n<p>Above $300 would let Ethereum rise toward a retest of the 2019 high, and a break could take it to $400. Beyond $400, former support turned resistance lies at $560, $800, and $1,050.<\/p>\n<p>Etheruem taking out all of the higher levels would likely lead to a new all-time high.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading |<a href=\"https:\/\/wncen.com\/2020\/01\/30\/10-factors-confirm-a-new-crypto-bull-market-has-officially-begun\/\"> 10 Factors Confirm a New Crypto Bull Market Has Officially Begun<\/a>\u00a0<\/strong><\/em><\/p>\n<p>Many crypto analysts had claimed that the altcoin market would never reclaim highs set back during the crypto bubble, but given the strength brewing in Etheruem markets, the cryptocurrency could end up proving them wrong.<\/p>\n<p><a href=\"https:\/\/wncen.com\/2020\/01\/30\/10-factors-confirm-a-new-crypto-bull-market-has-officially-begun\/\">Numerous bullish factors suggest a new bull market is close<\/a>, but a breakout fo current local resistance levels are the main major hurdle between here and new all-time highs.<\/p>\n<pre>Featured image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>The number two cryptocurrency by market cap, Ethereum, has been rallying alongside the rest of the crypto and altcoin market and has recently even outperformed Bitcoin by a significant margin. Surging Ethereum prices have also coincided with growing volume, which is an extremely bullish sign that the asset is in good health and the crypto market may be ready to rally even higher in the coming days. Ethereum Volume Surging Alongside Price is Bullish Signal Ethereum is up nearly 75% since the start of 2020 and has grown over 92% from the low of $116 it set in December 2019 before the year came to an end. Following two years of a downtrend in the number two cryptocurrency by market cap, investors who may be reluctant to buy in at current levels fearing more downside may now have reason to take the risk. Related Reading | Alt Season Cancelled? XRP, Ethereum, and Litecoin All Trigger Sell Signal\u00a0 According to new data from Skew crypto market analytics, Ethereum volumes are back and growing, reaching as much as over $600 million in yesterday&#8217;s trading session on Bitcoin-based margin trading platform BitMEX. https:\/\/twitter.com\/Josh_Rager\/status\/88782594?s=19 After a strong spike around mid-January, volume fell back to stable levels, but have been rising steadily since. Crypto analysts conclude that the increase in volume along with an increase in price in Ethereum is extremely bullish and could signal far more upside in the days ahead. Can the Crypto Asset Reclaim Its All-Time High? During the crypto bubble of 2017, Ethereum prices ballooned to as high as $1,400 per ETH, but following the bubble popping, prices fell over 94% to lows of around $80. In 2019, Etheruem recaptured much-lost ground, gaining over 330% and reaching a yearly high of $365, before the number two cryptocurrency crashed again to the recent local low of $116. In just over a month, Ethereum has nearly doubled in price, reaching $220 and preparing to rip higher if the resistance level above can be taken out. The growth in volume supports further expansion, which could propel Etheruem to as much as $300. Above $300 would let Ethereum rise toward a retest of the 2019 high, and a break could take it to $400. Beyond $400, former support turned resistance lies at $560, $800, and $1,050. Etheruem taking out all of the higher levels would likely lead to a new all-time high. Related Reading | 10 Factors Confirm a New Crypto Bull Market Has Officially Begun\u00a0 Many crypto analysts had claimed that the altcoin market would never reclaim highs set back during the crypto bubble, but given the strength brewing in Etheruem markets, the cryptocurrency could end up proving them wrong. Numerous bullish factors suggest a new bull market is close, but a breakout fo current local resistance levels are the main major hurdle between here and new all-time highs. Featured image from Shutterstock<\/p>\n","protected":false},"author":517,"featured_media":413880,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,13625],"tags":[428,6664,1946,70263,4407],"class_list":["post-413869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-ethereum","tag-bitcoin","tag-crypto","tag-ethereum","tag-josh-rage","tag-volume"],"acf":[],"yoast_head":"\n<title>Surging Ethereum Volume While Price Skyrockets Is Major Bullish Sign<\/title>\n<meta name=\"description\" content=\"The number two cryptocurrency by market cap, Ethereum, has been rallying alongside the rest of the crypto and altcoin market and has recently even\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/growing-ethereum-volume-major-bullish-sign\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Surging Ethereum Volume While Price Skyrockets Is Major Bullish Sign\" \/>\n<meta property=\"og:description\" content=\"The number two cryptocurrency by market cap, Ethereum, has been rallying alongside the rest of the crypto and altcoin market and has recently even\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/growing-ethereum-volume-major-bullish-sign\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2020-02-07T17:00:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-02-07T16:53:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/02\/ethereum-crypto-volume-shutterstock_1230217483.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/wncen.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Surging Ethereum Volume While Price Skyrockets Is Major Bullish Sign","url":"http:\/\/wncen.com\/news\/growing-ethereum-volume-major-bullish-sign\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/growing-ethereum-volume-major-bullish-sign\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/02\/ethereum-crypto-volume-shutterstock_1230217483.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/02\/ethereum-crypto-volume-shutterstock_1230217483.jpg?fit=1000%2C667"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","crypto","ethereum","josh rage","volume"],"dateCreated":"2020-02-07T17:00:30Z","datePublished":"2020-02-07T17:00:30Z","dateModified":"2020-02-07T17:00:30Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Surging Ethereum Volume While Price Skyrockets Is Major Bullish Sign\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/growing-ethereum-volume-major-bullish-sign\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/growing-ethereum-volume-major-bullish-sign\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/02\\\/ethereum-crypto-volume-shutterstock_1230217483.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/02\\\/ethereum-crypto-volume-shutterstock_1230217483.jpg?fit=1000%2C667\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"crypto\",\"ethereum\",\"josh rage\",\"volume\"],\"dateCreated\":\"2020-02-07T17:00:30Z\",\"datePublished\":\"2020-02-07T17:00:30Z\",\"dateModified\":\"2020-02-07T17:00:30Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/02\/ethereum-crypto-volume-shutterstock_1230217483.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/413869"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=413869"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/413869\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/413880"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=413869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=413869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=413869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}