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.

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