Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ETHEREUM NEWS»Ethereum is set to “explode” on this key technical indicator: Analyst
ETHEREUM NEWS

Ethereum is set to “explode” on this key technical indicator: Analyst

By Crypto FlexsFebruary 27, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Ethereum is set to “explode” on this key technical indicator: Analyst
Share
Facebook Twitter LinkedIn Pinterest Email

NewsBTC technical analyst and editorial board member Tony “The Bull” now believes that Ethereum (ETH), now the second most valuable cryptocurrency, is about to explode. “The Bull” cites the technical candlestick formation on the ETHUSDT daily chart as a leading indicator for ETH. ETH is currently trading above $3,000, its highest level in two years.

analyst pointed Applies to Bollinger Bands (BB), a technical indicator used to measure volatility. Although BB is a lagging indicator, like most technical indicators, including moving averages, traders associate each narrowing band with increasingly lower volatility.

ETH bullbar tied along top BB | Source: Tony “The Bull” from X

As history has shown, these “squeezes” often precede key breakout levels (in either direction) that can shape how the price develops in the following sessions. However, this changes whenever the band begins to expand. Typically, when this happens, the price of the asset (in this case ETH) is likely to rebound.

Ethereum price rebounds on monthly chart |  Source: ETHUSDT on Binance, TradingView
Ethereum price rebounds on monthly chart | Source: ETHUSDT on Binance, TradingView

Looking at the ETHUSDT monthly chart, the price is rising. Despite general optimism across cryptocurrency markets, the price of ETH has been within a tight range over the past few weeks. As a result, what is clear from the monthly charts is that a short period of price consolidation has resulted in a “squeeze.”

As ETH moves higher, we start looking for the second most valuable coin. It is trading above $3,000 and is trending towards April 2022 levels. Notably, the coin is in a breakout formation as the price significantly surpassed the January 2024 high in February.

Optimism for further price rises comes from monthly chart developments. This suggests high volatility as the bands begin to widen and the monthly bullbar forms a band along the upper BB. Technically, whenever there is a cluster of bars along the upper BB, it means there is strong upward momentum. Therefore, based on this configuration, management believes that what is happening on the ETHUSDT monthly chart could be a precursor to an “explosion.”

Pay attention to the US SEC

What could further fuel an uptick that could push the coin above $3,500 is how the U.S. Securities and Exchange Commission (SEC) reacts to the current spot Ethereum exchange-traded fund (ETF) application. The approval of a spot Ethereum ETF could lead to increased institutional investment in Ethereum.

As evidenced by how institutions reacted to discover Bitcoin ETFs, Ethereum-like products could see billions of dollars flowing into the coin. Increased institutional investment could potentially push the price of ETH higher.

As Reddit prepares to go public, filings with the U.S. SEC show that the social media platform plans to use excess cash to accumulate Bitcoin (BTC), Ethereum (ETH), and Polygon (MATIC).

Featured image from Canva, chart from TradingView

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Next chapter of ecosystem support program

August 31, 2025

Kindly, MD’s $ 5B Bitcoin Play comes as DATS raises fear of wider Altcoin fluidity.

August 27, 2025

Bitcoin News Today: Ether (ETH) is 5K $ 5K and BTC Eyes is recorded as Powell Sparks Rally. DAT transaction risk: Be careful with asset managers

August 23, 2025
Add A Comment

Comments are closed.

Recent Posts

Bitcoin Price Posts for 5 consecutive August losses: Will Michael Saylor react?

August 31, 2025

Metaplanet’s bitcoin strategy is having trouble with stock plummet in the crisis of financing.

August 31, 2025

Next chapter of ecosystem support program

August 31, 2025

Ether Lee (ETH) tests major support for $ 4,453 after the highest rejection.

August 31, 2025

BNB price forecast: Target $ 890- $ 900 in September 2025.

August 31, 2025

After BTS Star Jungkook has 39 billion hacking, South Korea will crack down on encryption fraud.

August 30, 2025

FY Energy Offers Industry-leading Cloud Computing Systems, Offering Opportunities For Daily Passive Income Of $7,580 Through Mining.

August 30, 2025

Four coins to be purchased as decisions for five branch XRP ETFs will be pushed until October.

August 30, 2025

Ethereum-Based Meme Project Pepeto ($PEPETO) Surges Past $6.5M In Presale

August 29, 2025

Use Australia’s Top Cloud Mining Tools To Become A Millionaire!

August 29, 2025

Bitcoin is under pressure with gold aiming to be the highest ever.

August 29, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Bitcoin Price Posts for 5 consecutive August losses: Will Michael Saylor react?

August 31, 2025

Metaplanet’s bitcoin strategy is having trouble with stock plummet in the crisis of financing.

August 31, 2025

Next chapter of ecosystem support program

August 31, 2025
Most Popular

Bitcoin Price Drop Hints: Prepare for a Potential Downturn

July 21, 2024

Devcon Improvement Proposal (DIP) announced

January 30, 2024

US government attempts to seize $200,000 in Tether that was part of pig slaughter cryptocurrency scam

June 11, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.