Ethereum Price at Risk of Drop, Traders Go Bearish on ETH

Ethereum Price at Risk of Drop, Traders Go Bearish on ETH

By Tokenhell.com | Tokenhell | 25 Feb 2020


Ethereum started well in February surging above the $200 level after prior trading in the lows. Many investors, including ConsenSys co-founder Joseph Lubin, are bullish on Ether.

The community is putting their hopes in the growth of DeFi – as of the start of February, the amount of ETH locked in DeFi apps totaled almost $1 billion. Besides, Ethereum 2.0 is in the pipeline.

Now, however, traders are looking at Ethereum charts and expect the second largest currency to decline.

Also Read: Warren Buffett blasts bitcoin as worthless and vows he will never own a cryptocurrency

‘Looks like $ETH wants to break down.’

Swing trader Jonny Moe has shared an ETH/BTC chart and says that the pair appears to be ready to break downwards. Previously, however, he tweeted that ETH was ‘working on an ascending triangle.’

ETH priceImage via Twitter

‘Look for renewed $ETHBTC sell interest.’

Crypto trader Joel Kruger tells his followers that ETH has been performing better than Bitcoin in recent sessions. However, he says, Ether is running the risk of a pullback, so traders may want to ‘look for renewed $ETHBTC sell interest.’

Also Read: Bitcoin (BTC) Price Expected to Step Over $10,000 as CME Gap Gets Filled

A bullish take on ETH

Trader ‘CryptoWolf’ has recently been bullish on Ethereum. He remains optimistic, tweeting that the ETH/BTC pair is still very much undervalued. ‘CryptoWolf’ believes that at some point soon Ether may put up a 10x price surge – to the $539 area.

ETH 2Image via Twitter

ETH trading volume soars 4x

As earlier reported by U.Today, trader Alex Kruger shared with his followers that over the last week he noticed a 4x increase in Ethereum trading volume on BitMEX. ‘Somebody has been buying a lot of ETH’ he tweeted. 

Also Read: Business.Club Active Wallet – Helping You to Grow Your Funds

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Tokenhell
Tokenhell

Tokehell is a Google News Approved Blockchain & Crypto News Agency Where You Can Discover News About Cryptocoins, Technical analysis, Blockchain Events, Coin Prices Marketcap And Detailed Reviews on ICOs, IEOs. STOs.

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