Ethereum price ascending channel breakout possible if Bitcoin consolidates
Consolidation from Bitcoin would allow Ethereum to double bottom in its BTC pair and possibly breakout from the ascending channel in its USDT pair. In the past week, altcoins prices received a significant haircut, and investors who were light on Bitcoin (BTC) saw their portfolio value take a hit. Initially, Ether (ETH) price followed Bitcoin higher as the top-ranked digital asset rallied through the $12,000 resistance but as BTC continues to slowly push higher Ether struggled to flip $400 to support. Crypto market weekly price chart. Source: Coin360Ether’s loss of momentum and the....
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Ethereum Price Key Highlights. Ethereum price is still slowly climbing, transitioning into a rising wedge formation from an earlier ascending channel. Price bounced off the mid-channel area of interest as predicted in an earlier article, reflecting increased bullish pressure. With the consolidation getting tighter and ethereum price approaching the peak of the wedge, a breakout in either direction is imminent. Waiting for Bitcoin Breakout? Bitcoin is also stuck in a consolidation pattern, as traders are probably on the lookout for more catalysts. This has kept ethereum price in....
Bitcoin price is stuck in a tighter consolidation pattern, which could set the tone for an even more explosive breakout. Bitcoin Price Technical Analysis. Bitcoin price is starting to form a new ascending channel after its previous breakdown. The consolidation is noticeably tighter these days, which suggests that price could be gearing up for a strong breakout. The US elections would likely have a strong impact on financial market sentiment and dollar price action. Technical Indicators Signals. The 100 SMA just crossed below the longer-term 200 SMA so the path of least resistance is now to....
Bitcoin price is treading sideways in a narrow and shallow ascending channel visible on the short-term charts. Bitcoin Price Key Highlights. Bitcoin price is still moving in tight consolidation as traders might be holding out for stronger directional clues. Price is trading inside a narrow ascending channel visible on its 1-hour chart. Bitcoin is going for a test of the channel support and might be in for a climb back to the top, unless a breakout happens. Technical Indicators Signals. The 100 SMA is moving close to the 200 SMA and could be in for a downward crossover to show that sellers....
A crypto analyst has confirmed a recent breakdown of the Cardano price from an Ascending Channel pattern. With key support and resistance levels now in focus, the analyst has outlined two scenarios for ADA, projecting where its price could move next. Cardano Price Ascending Channel: Bullish Scenario The Cardano price has been trending within an Ascending Channel for some time, maintaining steady price momentum amidst market volatility. However, a TradingView crypto analyst, known as ‘MelikaTrader94’, has identified a recent change in the Cardano price action. The analyst highlights that....
Ethereum has the potential to extend its ongoing upside move towards or above $1,500. The second-largest cryptocurrency broke above a consolidation price channel on Wednesday, breaking its upper trendline on surging volumes. So it appears, the channel is an Ascending Triangle that traders perceive as a bullish continuation indicator. An Ascending Triangle structure develops when […]