{"id":417664,"date":"2020-03-10T22:00:39","date_gmt":"2020-03-10T22:00:39","guid":{"rendered":"https:\/\/wncen.com\/?p=417664"},"modified":"2020-03-10T21:41:39","modified_gmt":"2020-03-10T21:41:39","slug":"ethereum-could-see-a-violent-300-parabolic-rally-once-it-taps-this-level","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-could-see-a-violent-300-parabolic-rally-once-it-taps-this-level\/","title":{"rendered":"Ethereum Could See a Violent 300% Parabolic Rally Once It Taps This Level"},"content":{"rendered":"<p>Ethereum has seen a slight rebound today alongside Bitcoin and most other major altcoins, with ETH recapturing $200 following a period of intense selling pressure that led it to plummet as low as $190 yesterday.<\/p>\n<p>Its recent rebound, however, may prove to be fleeting, as the crypto is now on the cusp of once again plummeting below its key psychological support at $200.<\/p>\n<p>In the grand scale of things, this ongoing Ethereum selloff may actually prove to be bullish, as one prominent analyst is noting that the cryptocurrency could see an explosive rally if bulls are able to defend one key price region that lies slightly below ETH\u2019s current price.<\/p>\n<h2><strong>Analysts Eyeing Further Short-Term Downside for Ethereum Despite Slight Rebound<\/strong><strong>\u00a0<\/strong><\/h2>\n<p>After plummeting towards $190 yesterday, bulls stepped up and propelled <a href=\"https:\/\/wncen.com\/2020\/02\/07\/analysts-say-ethereum-surging-past-200-is-only-the-beginning-of-exponential-growth\/\">Ethereum<\/a> back above $200, although this rally hasn\u2019t been incredibly strong, as ETH is now at risk of once again dipping back below this price level.<\/p>\n<p>Ethereum\u2019s recent selloff has erased nearly <a href=\"https:\/\/coinmarketcap.com\/currencies\/ethereum\/\" rel=\"nofollow\">all of the gains<\/a> the cryptocurrency incurred in late-January and early-February, with the crypto currently trading down nearly $100 from its intra-rally highs of $290.<\/p>\n<p>Despite this intense selloff, it is important to note that it is still trading up from its year-to-date lows of $125.<\/p>\n<p>Crypto Micha\u00ebl, a prominent cryptocurrency analyst on Twitter, explained in a recent tweet that the key zone ETH needs to break above in order for another uptrend to kick off is $212, and a failure to break above this region could catalyze significant losses.<\/p>\n<blockquote><p>\u201cEthereum: Bouncing from the $195 level here. Main key zone to break is $212-216. Doubt we&#8217;ll break it. Looks more natural for a bearish retest and dropdown after towards $170-180,\u201d he explained.<\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$ETH<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/ETHEREUM?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#ETHEREUM<\/a> <\/p>\n<p>Bouncing from the $195 level here. Main key zone to break is $212-216.<\/p>\n<p>Doubt we&#39;ll break it. <\/p>\n<p>Looks more natural for a bearish retest and dropdown after towards $170-180. <a href=\"https:\/\/t.co\/1yoOddpSiL\" rel=\"nofollow\">pic.twitter.com\/1yoOddpSiL<\/a><\/p>\n<p>&mdash; Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/48070913?ref_src=twsrc%5Etfw\" rel=\"nofollow\">March 10, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><strong>A Visit to $140-$160 Could Spark an Explosive Parabolic Rally Up Towards $800<\/strong><\/h2>\n<p>Bitcoin Jack, another popular cryptocurrency analyst on Twitter, explained in a recent tweet that he will be \u201cbuying all the ETH\u201d he can once it dips to between $141 and $166, as the <a href=\"https:\/\/wncen.com\/2020\/03\/07\/ethereum-just-formed-a-mid-term-bottom-and-it-means-massive-gains-are-coming\/\">support in this region<\/a> could lead the cryptocurrency to rally as high as $837 in the near-term.<\/p>\n<blockquote><p>\u201cTruth is that I will be buying all ETH I can between $141 and $166 if it gets to it. I will then gladly sell it all back to you between $616 &#8211; $837,\u201d he explained while pointing to the levels marked on the below chart.<\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Truth is that I will be buying all <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$ETH<\/a> I can between $141 and $166 if it gets to it<\/p>\n<p>I will then gladly sell it all back to you between $616 &#8211; $837 <a href=\"https:\/\/t.co\/Ar6iRroOt7\" rel=\"nofollow\">https:\/\/t.co\/Ar6iRroOt7<\/a> <a href=\"https:\/\/t.co\/7aVOqHCz0E\" rel=\"nofollow\">pic.twitter.com\/7aVOqHCz0E<\/a><\/p>\n<p>&mdash; \/\/Bitcoin \ud835\udd75ack \ud83d\udc10 (@BTC_JackSparrow) <a href=\"https:\/\/twitter.com\/BTC_JackSparrow\/status\/94767360?ref_src=twsrc%5Etfw\" rel=\"nofollow\">March 10, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The coming few days and weeks should provide investors with insights into just how imminent a movement to the mid-$100 region is, as any further Bitcoin bearishness will likely lead altcoins to also plummet lower.<\/p>\n<p>For Ethereum, however, this potential near-term dip could prove to be highly bullish, and ultimately allow it to begin its next <a href=\"https:\/\/wncen.com\/2020\/03\/07\/this-crypto-is-about-to-explode-if-it-reclaims-one-key-level\/\">parabolic rally<\/a>.<\/p>\n<pre>Featured image from Shutterstock.<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum has seen a slight rebound today alongside Bitcoin and most other major altcoins, with ETH recapturing $200 following a period of intense selling pressure that led it to plummet as low as $190 yesterday. Its recent rebound, however, may prove to be fleeting, as the crypto is now on the cusp of once again plummeting below its key psychological support at $200. In the grand scale of things, this ongoing Ethereum selloff may actually prove to be bullish, as one prominent analyst is noting that the cryptocurrency could see an explosive rally if bulls are able to defend one key price region that lies slightly below ETH\u2019s current price. Analysts Eyeing Further Short-Term Downside for Ethereum Despite Slight Rebound\u00a0 After plummeting towards $190 yesterday, bulls stepped up and propelled Ethereum back above $200, although this rally hasn\u2019t been incredibly strong, as ETH is now at risk of once again dipping back below this price level. Ethereum\u2019s recent selloff has erased nearly all of the gains the cryptocurrency incurred in late-January and early-February, with the crypto currently trading down nearly $100 from its intra-rally highs of $290. Despite this intense selloff, it is important to note that it is still trading up from its year-to-date lows of $125. Crypto Micha\u00ebl, a prominent cryptocurrency analyst on Twitter, explained in a recent tweet that the key zone ETH needs to break above in order for another uptrend to kick off is $212, and a failure to break above this region could catalyze significant losses. \u201cEthereum: Bouncing from the $195 level here. Main key zone to break is $212-216. Doubt we&#8217;ll break it. Looks more natural for a bearish retest and dropdown after towards $170-180,\u201d he explained. $ETH #ETHEREUM Bouncing from the $195 level here. Main key zone to break is $212-216. Doubt we&#39;ll break it. Looks more natural for a bearish retest and dropdown after towards $170-180. pic.twitter.com\/1yoOddpSiL &mdash; Micha\u00ebl van de Poppe (@CryptoMichNL) March 10, 2020 A Visit to $140-$160 Could Spark an Explosive Parabolic Rally Up Towards $800 Bitcoin Jack, another popular cryptocurrency analyst on Twitter, explained in a recent tweet that he will be \u201cbuying all the ETH\u201d he can once it dips to between $141 and $166, as the support in this region could lead the cryptocurrency to rally as high as $837 in the near-term. \u201cTruth is that I will be buying all ETH I can between $141 and $166 if it gets to it. I will then gladly sell it all back to you between $616 &#8211; $837,\u201d he explained while pointing to the levels marked on the below chart. Truth is that I will be buying all $ETH I can between $141 and $166 if it gets to it I will then gladly sell it all back to you between $616 &#8211; $837 https:\/\/t.co\/Ar6iRroOt7 pic.twitter.com\/7aVOqHCz0E &mdash; \/\/Bitcoin \ud835\udd75ack \ud83d\udc10 (@BTC_JackSparrow) March 10, 2020 The coming few days and weeks should provide investors with insights into just how imminent a movement to the mid-$100 region is, as any further Bitcoin bearishness will likely lead altcoins to also plummet lower. For Ethereum, however, this potential near-term dip could prove to be highly bullish, and ultimately allow it to begin its next parabolic rally. Featured image from Shutterstock.<\/p>\n","protected":false},"author":499,"featured_media":417667,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,13625],"tags":[6664,8323,1946],"class_list":["post-417664","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ethereum","tag-crypto","tag-eth","tag-ethereum"],"acf":[],"yoast_head":"\n<title>Ethereum Could See a Violent 300% Parabolic Rally Once It Taps This Level<\/title>\n<meta name=\"description\" content=\"One prominent analyst is noting that Ethereum (ETH) could see an explosive rally if bulls are able to defend one key price region.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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