{"id":415813,"date":"2020-02-24T17:00:35","date_gmt":"2020-02-24T17:00:35","guid":{"rendered":"https:\/\/uniquehot.com\/?p=415813"},"modified":"2020-02-24T15:23:36","modified_gmt":"2020-02-24T15:23:36","slug":"ethereum-record-weekly-green-candle-bullish","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum-record-weekly-green-candle-bullish\/","title":{"rendered":"Ethereum Sets Record for Most Bullish String of Weekly Price Action Yet"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">The number two cryptocurrency by market cap, <a href=\"\/tag\/ethereum\" rel=\"nofollow\">Ethereum<\/a>, has been leading the crypto rally of 2020, causing its value to more than double year-to-date.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">As the rally continues, Ethereum just set the most bullish string of weekly price action yet with a record-breaking total of nine consecutive weekly green price candle closes. With so much bullish momentum, what\u2019s next for the second-largest cryptocurrency in the industry?<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Ethereum Continues Record-Breaking Crypto Rally<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\"><a href=\"\/tag\/ethereum\" rel=\"nofollow\">Ethereum<\/a> is up nearly 150% from late December 2019 lows and has already more than doubled since the year first began.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The most dominant altcoin in the space has continued to outperform Bitcoin and most of the rest of the market, aside from <a href=\"https:\/\/uniquehot.com\/2020\/02\/12\/this-top-10-cryptocurrency-is-surging-24-and-its-showing-no-signs-of-stopping\/\">a few outliers like Tezos and Chainlink<\/a>.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The rally has now resulted in Ethereum breaking a record for the most consecutive bullish weekly candle closes in a row since the crypto bubble first got started in 2017.<\/span><\/p>\n<p>https:\/\/twitter.com\/runtheirstops\/status\/96385281?s=21<\/p>\n<p class=\"p1\"><span class=\"s1\">At the start of 2017, the crypto asset was trading at below $10 per ETH token. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">But after a string of eight consecutive weekly green candle closes, Ethereum was trading at over $50 a token, with over a 5x return for investors.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">While such a record-breaking string of weekly closes could look like a strong trend that is beginning to wane, after a short pullback the altcoin surged yet again, reaching over $400.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/2020\/02\/12\/ethereum-altcoins-reach-critical-resistance\/\">Proceed With Caution: Ethereum and Altcoins Reach Critical Resistance<\/a>\u00a0<\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">After yet another pullback, Ethereum went on to set its all-time high at over $1,400 in early 2018, before a bear market erased over 90% of those gains.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Now, after two years of a downtrend, <a href=\"\/tag\/ethereum\" rel=\"nofollow\">Ethereum<\/a> is ready to rocket once again and has just broken the early 2017 record for the most bullish weekly candle closes in a row.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-415816\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/02\/Screen-Shot-2020-02-24-at-9.05.00-AM.png?resize=860%2C517\" alt=\"ethereum price \" width=\"860\" height=\"517\"><\/p>\n<h2>Bubble Flashback: Is The Leading Altcoin Ready For Another 7,000% Surge?<\/h2>\n<p class=\"p1\"><span class=\"s1\">Much like in 2017, the rally appears to be losing momentum, however, it very well could be getting ready for another leg up as <a href=\"\/tag\/ethereum\" rel=\"nofollow\">Ethereum<\/a> did during the crypto bubble inflation phase.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The two surges upward added over 7,000% value to Ethereum, in just under 200 days.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-415817\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/02\/Screen-Shot-2020-02-24-at-10.13.41-AM.png?resize=860%2C517\" alt=\"ethereum price\" width=\"860\" height=\"517\"><\/p>\n<p class=\"p1\"><span class=\"s1\">A surge of similar magnitude would push the number two cryptocurrency to over $8,000. While as unlikely as that may seem, the crypto asset has rallied that explosively in the past.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Last time around, Ethereum\u2019s charge was fueled by the ICO boom, but this rally is due to the current frenzy surrounding <a href=\"https:\/\/blog.coinbase.com\/a-beginners-guide-to-decentralized-finance-defi-574c68ff43c4\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">decentralized finance<\/a>.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/2020\/02\/07\/growing-ethereum-volume-major-bullish-sign\/\">Surging Ethereum Volume While Price Skyrockets Is Major Bullish Sign<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">Few platforms are as robust and developed as Ethereum, so it\u2019s been the primary platform involved in the rapid growth of the DeFi movement.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">As that space only looks to continue to grow from here, <a href=\"\/tag\/ethereum\" rel=\"nofollow\">Ethereum<\/a>\u2019s strength is likely to continue for the foreseeable future.<\/span><\/p>\n<pre>Featured image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>The number two cryptocurrency by market cap, Ethereum, has been leading the crypto rally of 2020, causing its value to more than double year-to-date. As the rally continues, Ethereum just set the most bullish string of weekly price action yet with a record-breaking total of nine consecutive weekly green price candle closes. With so much bullish momentum, what\u2019s next for the second-largest cryptocurrency in the industry? Ethereum Continues Record-Breaking Crypto Rally Ethereum is up nearly 150% from late December 2019 lows and has already more than doubled since the year first began. The most dominant altcoin in the space has continued to outperform Bitcoin and most of the rest of the market, aside from a few outliers like Tezos and Chainlink. The rally has now resulted in Ethereum breaking a record for the most consecutive bullish weekly candle closes in a row since the crypto bubble first got started in 2017. https:\/\/twitter.com\/runtheirstops\/status\/96385281?s=21 At the start of 2017, the crypto asset was trading at below $10 per ETH token. But after a string of eight consecutive weekly green candle closes, Ethereum was trading at over $50 a token, with over a 5x return for investors. While such a record-breaking string of weekly closes could look like a strong trend that is beginning to wane, after a short pullback the altcoin surged yet again, reaching over $400. Related Reading | Proceed With Caution: Ethereum and Altcoins Reach Critical Resistance\u00a0 After yet another pullback, Ethereum went on to set its all-time high at over $1,400 in early 2018, before a bear market erased over 90% of those gains. Now, after two years of a downtrend, Ethereum is ready to rocket once again and has just broken the early 2017 record for the most bullish weekly candle closes in a row. Bubble Flashback: Is The Leading Altcoin Ready For Another 7,000% Surge? Much like in 2017, the rally appears to be losing momentum, however, it very well could be getting ready for another leg up as Ethereum did during the crypto bubble inflation phase. The two surges upward added over 7,000% value to Ethereum, in just under 200 days. A surge of similar magnitude would push the number two cryptocurrency to over $8,000. While as unlikely as that may seem, the crypto asset has rallied that explosively in the past. Last time around, Ethereum\u2019s charge was fueled by the ICO boom, but this rally is due to the current frenzy surrounding decentralized finance. Related Reading | Surging Ethereum Volume While Price Skyrockets Is Major Bullish Sign Few platforms are as robust and developed as Ethereum, so it\u2019s been the primary platform involved in the rapid growth of the DeFi movement. As that space only looks to continue to grow from here, Ethereum\u2019s strength is likely to continue for the foreseeable future. Featured image from Shutterstock<\/p>\n","protected":false},"author":517,"featured_media":415814,"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":[16295,6664,54512,1946,8486,10694],"class_list":["post-415813","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ethereum","tag-chainlink","tag-crypto","tag-defi","tag-ethereum","tag-ico","tag-tezos"],"acf":[],"yoast_head":"\n<title>Ethereum Sets Record for Most Bullish String of Weekly Price Action Yet<\/title>\n<meta name=\"description\" content=\"The number two cryptocurrency by market cap, Ethereum, has been leading the crypto rally of 2020, causing its value to more than double year-to-date. 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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. 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. 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