Ethereum price risks losing $4K on ‘rising wedge’ breakout fears
The potential price decline would also mark ETH’s return to its ascending channel support. A selloff in Ether (ETH) on Nov. 16 has increased the chances of its price falling below $4,000.ETH plunged 10% to around $4,100 amid an ongoing market correction led by Bitcoin (BTC). In doing so, Ether dropped below its fourth-quarter upward trendline support. ETH/USD daily price chart. Source: TradingViewETH/USD also tested its 50-day exponential moving average (50-day EMA; the velvet wave in the chart above) as its new price floor before bouncing higher. The next support line to keep an eye on if....
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The U.S. dollar index reached its lowest levels in three weeks on Oct. 19, triggering a rising wedge pattern. The U.S. dollar index (DXY) could continue its slide in Q4, according to a classic technical setup known as a “rising wedge.” The greenback’s bearish prospects may boost Bitcoin’s (BTC) price to new all-time highs as it holds above $62,000.DXY poised for another 1.75% dropRising wedges are bearish reversal patterns that begin wide at the bottom but contract as the price increases. As a result, the trading range narrows, which makes the rally unconvincing. That typically prompts the....
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....
Macro headwinds continue to hamper Ethereum's long-term upside prospects. Ethereum's native token Ether (ETH) is poised for a mini bull run above $3,000 primarily due to a classic bullish reversal pattern on its shorter-timeframe chart, and a huge spike in ETH outflows from Coinbase.ETH price forming falling wedgeETH's price has been forming a falling wedge pattern since late March 2022, which raises its prospects of undergoing a breakout move in May.Falling wedges appear when the price trends lower inside a range defined by two descending, contracting trendlines. As a rule of technical....
Ethereum (ETH) traded in tandem with risky assets on the final session of the first half of the year, due to persisting fears of greater inflation and rising interest rates. Some analysts say this might set the stage to more decreases heading into the third quarter. Following a four-day losing skid, ETH’s price fell roughly 6 percent to $1,044 on Thursday. The ETH/USD pair has also broken below its interim rising trendline support, creating an “ascending triangle” pattern in conjunction with a horizontal trendline resistance to the upside. The Ethereum (ETH) price graph....
The bearish setup appears amid growing divergence between the Ether price and momentum. Ethereum's native token Ether (ETH) reached an all-time high around $4,867 earlier in November, only to plunge by nearly 20% a month later on rising profit-taking sentiment. And now, as the ETH price holds $4,000 as a key support level, risks of further selloffs are emerging in the form of multiple technical and fundamental indicators.ETH price rising wedgeFirst, Ether appears to have been breaking out of "rising wedge," a bearish reversal pattern that emerges when the price trends upward inside a range....