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....
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 […]
Bitcoin price is trading inside an ascending channel pattern and might be due for a breakout soon. Bitcoin Price Key Highlights. Bitcoin price is trending higher once more, forming higher lows and higher highs inside an ascending channel pattern on the 1-hour chart. Price is currently testing the channel resistance and might be due for a slide back to support. Volatility has picked up again recently so stronger moves and potential breakouts could be seen. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on this time frame, signaling that the path of least....