Ascending channel pattern and Ethereum options data back traders’ $5K ETH target
ETH price dropped to $4,400 during the Nov. 11 correction, but data shows traders expect the altcoin to surpass $5,000 soon. Ether (ETH) bulls seem excited by the recent $4,870 all-time high that was hit on Nov. 10. While it was a new high in U.S. dollar terms, ETH is still 51% below June 2017’s price in Bitcoin (BTC) terms. But it’s entirely possible that the 0.155 BTC level reached in the previous cycle reflected the overzealous expectations that were rampant during the initial coin offering frenzy. The Ethereum network’s success has caused congestion and high fees, bringing the....
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Ethereum price is trading at roughly $1,550 after failing to get back above $2,000 throughout the entirety of 2023 thus far. Increasingly higher lows during the year and a horizontal resistance zone had formed an ascending triangle – a potentially bullish chart pattern. This pattern, however, is possibly failing. A busted pattern target could send the price per ETH sub-$1,000. Is the bullish chart pattern breaking down? | ETHUSD on TradingView.com Ethereum Ascending Triangle Begins Breakdown: Target $700 Ethereum put in its bear market low back in June of 2022 while Bitcoin and other....
Earlier today we published a piece that outlined the ascending triangle within which the bitcoin price was trading. We noted that - if we could get a close above the triangle's upper channel - it would validate the pattern and suggest a bullish reversal, adhering to classical technical charting rules. Around midday we did get this break, and instantly got a run towards our target. However, we met resistance around the 240 level, and corrected back down towards the upper channel. We have now bounced once again from this level, suggesting we are experiencing a textbook break and retest. So,....
Ethereum price is currently moving down against the US Dollar, and it looks like the ETH/USD pair is slowly moving into the bearish zone. Key Highlights. ETH price traded a touch lower against the US Dollar, and closed below the $9.50 support area. Yesterday’s ascending channel pattern on the hourly chart (data feed via SimpleFX) of ETH/USD was broken to clear the way for more downsides. There is a bearish trend line on the same chart, acting as a resistance near $9.45. Ethereum Price Resistance. Yesterday, we saw how ETH price was trading in an ascending channel against the US Dollar.....
Ethereum price likely completed a correction wave against the US Dollar, and ETH/USD might now trade back towards the last high of $11.30. Key Highlights. ETH price after a minor correction against the US Dollar towards $10.88 found support. Yesterday’s highlighted descending channel pattern on the hourly chart of ETH/USD (data feed via SimpleFX) was broken at $11.05 for an upside move. Now, an ascending channel pattern is formed with support at $11.10. Ethereum Price Support. Yesterday, we saw how there was a correction wave initiated in ETH price against the US Dollar towards $11.00. The....
Key Highlights. Dogecoin's price managed to recover some ground this past week, but it remains at risk of a move lower during the upcoming week. There is an ascending channel pattern forming on the hourly chart (data feed from HitBTC), which is acting as a support. A break below the channel support area may call for more losses in the near term. Dogecoin's price remains under a monster bearish trend line on the 4-hour chart, and an interesting pattern is forming for the next move. Ascending Channel Pattern. Dogecoin prices managed to trade a few points higher this past week after trading....