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Ethereum (ETH) prepared to destroy higher when resistance receives new pressure

Ethereum (ETH / USD) prices, charts, and analysis

  • Ethereum – 3rd Lucky time with resistance?
  • The bull flag formation sets the tone.

Ethereum threatens to break through weeks of resistance as the second largest cryptocurrency rises. ETH is late Bitcoin Having pushed ETH / BTC spreads back to their weekly lows of 600 in the last few days, this performance decline is now beginning to change and Ethereum is approaching technical resistance levels.

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The cryptocurrency market as a whole is also growing, not far from the record height printed in mid-May this year... While recent moves have been driven by Bitcoin, the rafts of other coins are moving higher than they are today, with the strong single-digit percentage increase seen today.

Cryptocurrency Market Capitalization – October 14, 2021

Charts via TradingView.com

Ethereum may have been lagging behind Bitcoin for the past seven days, but recent rises have threatened weeks of resistance. The $ 3,675 horizontal resistance held the last two attempts, but is likely to be the Bulls’ third fortune. The bullish scenario has been helped by the recent rise in all three simple moving averages, and while the 20-day sma is about to finish the bullish setting, Ethereum’s price behavior over the past two weeks has marked a bullish flag pattern. Set another driving force for higher prices. Breaks and opens above $ 3,675 set $ 4,028 as the next target and there is little resistance between these two levels before $ 4,379 takes effect.

How to trade a bullish flag pattern

Ethereum (((ETH/U.S. dollar) Daily Price Chart-October 14, 2021

Ethereum (ETH) prepared to destroy higher when resistance receives new pressure

What is your view Ethereum (ETH) – Bullish or bearish ?? Please let us know using the form at the end of this work or contact the author on Twitter. @ nickcawley1..

https://www.dailyfx.com/education/technical-analysis-chart-patterns/bull-flag.html



Ethereum (ETH) prepared to destroy higher when resistance receives new pressure

Source link Ethereum (ETH) prepared to destroy higher when resistance receives new pressure

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