Ethereum’s Price Just Formed a Pivotal Bullish Breakout

Ethereum’s Price Just Formed a Pivotal Bullish Breakout


Ethereum has dropped dramatically since the August highs of $490. The coin now trades for $370, around 25% below those highs. While Ethereum is still far below the highs, the coin is printing positive medium-term to long-term signs. One top cryptocurrency trader shared that the asset is breaking above a multi-week triangle/pennant pattern. This breakout suggests there will be a continuation to the upside in the weeks ahead. His bullish sentiment has been echoed by other market participants who also see Ethereum’s medium-term trend remaining bullish. Ethereum Forms Pivotal Bullish Breakout Pattern

Leading Binance futures trader Logan Han expects for Ethereum to continue its ascent after forming a bullish breakout. He noted that the coin recently broke above a descending triangle pattern after weeks of consolidation, suggesting the medium-term trend is bullish.

He shared a chart suggesting that head into the end of 2020, Ethereum will continue the ascent it has seen in the middle of the year.

Trending: Hunter Biden Business Partner Tony Bobulinski Will Turn Materials over to FBI

This

Continue reading

You Might Like

Do NOT follow this link or you will be banned from the site!