Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum Eyes $4,000
Breakout With Bullish
Inverse Head-And-Shoulders Setup
Details
Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum Eyes $4,000 Breakout With Bullish Inverse Head-And-Shoulders Setup
Details
by Ash Tiwari
3 minutes ago
in Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum
0
Ethereum (ETH• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum) surged past the local resistance at the $3,670 price level
earlier today, rekindling hopes for a successful breakout through the
persistent $4,000 resistance. Some crypto experts are optimistic that ETH
might finally be poised to reach new all-time highs (ATH).
Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum To Benefit From Inverse Head-And-Shoulders Pattern?
Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum, the second-largest digital asset with a market cap exceeding $450
billion, appears set to target the critical $4,000 resistance level once
again. For context, ETH has tested the $4,000 level three times since March
2024, failing to break through on each occasion.
Related Reading: Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum Set For A Parabolic Surge? Here’s What Crypto
Experts Say
According to seasoned cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта analyst and trader Trader_XO, the fourth
attempt might finally succeed. The analyst shared their thoughts on X,
suggesting that tapping the $4,000 level for the fourth time increases the
likelihood of breaking through this stubborn price barrier.
Trader_XO’s analysis included a chart indicating the formation of an inverse
head-and-shoulders pattern. For those unfamiliar, this bullish chart formation
signals a potential reversal of a downtrend. It consists of three troughs: a
lower low the head between two higher lows
the shoulders. Source: Trader_XO on X
A breakout typically occurs when the price surpasses the
neckline connecting the peaks between the troughs. In Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum’s
case, the neckline is situated around the $4,000 price level. A definitive
breakout above $4,000, followed by a successful retest of this level as new
support, could position ETH to pursue new ATHs in the near future.
Trader_XO’s analysis aligns with that of another crypto analyst, Daghan, who
suggested that a new ATH for ETH could pave the way for a surge to as high as
$8,047. The analyst noted:
ETH needs to break above $4150 for the real fun to start. Nothing has truly
begun yet. This is a textbook continuation pattern that will likely lead to a
strong impulse, but it takes time to fully develop. Source: Daghan on X
Other Technical Indicators Bullish For ETH
In addition to the inverse head-and-shoulders pattern, crypto analyst Ali
Martinez highlighted that Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum is “holding strong” within an ascending
parallel channel, targeting the $6,000 price level.
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Follow?
To elaborate, an ascending parallel channel is a bullish chart pattern
characterized by two upward-sloping parallel trend lines that contain the
price action. This pattern reflects consistent higher highs and higher lows,
signaling a steady upward trend with potential breakouts occurring above or
below the channel.
Additionally, a recent report noted that Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum’s weekly Relative Strength
Index (RSI• Экономика » Финансы » Финансовый рынок » Рынок ценных бумаг » Фондовый рынок » Технический анализ » Индекс относительной силы RSI
• Экономика » Финансы » Финансовый рынок » Рынок ценных бумаг » Линии Боллинджера » Индекс относительной силы RSI) has reset, which could provide further momentum for ETH to
establish new ATHs. At press time, ETH trades at $3,696, up 1.9% in the past
24 hours. ETH trades at $3,696 on the daily chart | Source: ETHUSDT on
TradingView.com
Featured Image from Unsplash.com, Charts from X and TradingView.com