Tuesday, June 24, 2025
No Result
View All Result
DOLLAR BITCOIN
Shop
  • Home
  • Blockchain
  • Bitcoin
  • Cryptocurrency
  • Altcoin
  • Ethereum
  • Market & Analysis
  • DeFi
  • More
    • Dogecoin
    • NFTs
    • XRP
    • Regulations
  • Shop
    • Bitcoin Book
    • Bitcoin Coin
    • Bitcoin Hat
    • Bitcoin Merch
    • Bitcoin Miner
    • Bitcoin Miner Machine
    • Bitcoin Shirt
    • Bitcoin Standard
    • Bitcoin Wallet
DOLLAR BITCOIN
No Result
View All Result
Home Ethereum

Ethereum Price Completes 12 Weeks Of Bottom Formation, Analyst Says Don’t Aim Lower Than $4,900 ATH

n70products by n70products
November 6, 2024
in Ethereum
0
Ethereum Price Completes 12 Weeks Of Bottom Formation, Analyst Says Don’t Aim Lower Than $4,900 ATH
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter



Este artículo también está disponible en español.

Technical evaluation suggests the times of the Ethereum worth consolidation might be over very soon. On the time of writing, Ethereum is buying and selling with a 0.07% acquire prior to now 30 days, which reveals the current consolidation situation it finds itself beneath. 

Nevertheless, in response to a technical evaluation on TradingView, the Ethereum worth may very well be nicely on its approach to reaching a brand new all-time excessive after 12 weeks of consolidation.

Ethereum Value Completes Backside Formation

In accordance with a technical evaluation of the Ethereum worth within the weekly candlestick timeframe, the cryptocurrency is at the moment in its twelfth week of consolidation after a decline that ended within the first week of August. Apparently, evaluation reveals that the consolidation is on the backside of the decrease trendline in a Channel Up development within the weekly timeframe that began way back to June 2022.

Associated Studying

Notably, a detailed take a look at this Channel Up development reveals that the Ethereum worth motion has been confined between its higher and decrease trendlines prior to now two and a half years. Fortuitously, the development is a bullish one with the creation of upper highs and better lows, which suggests a bullish outlook for the Ethereum worth.

Because it stands, the Ethereum worth has been on an uptrend because the starting of the week, basically reversing last week’s declines. Consequently, the worth has flipped from bearish to impartial on the weekly outlook and is now transferring in the direction of bullish.

The one factor left is for the Ethereum worth to maintain pushing on this uptrend and flip above the weekly MA50 (50-Day Shifting Common). A profitable push above this degree, in response to crypto analyst InvestingScope, wouldn’t solely sign an finish to Ethereum’s extended consolidation but additionally set the stage for a rally towards the channel’s higher trendline.

ETH On The Journey To Recording New Highs

Because it stands, the 1W Relative Power Index has already crossed over its MA, lending cost to the momentum. All that’s left now’s an Ethereum worth break above the weekly MA50. A break above the MA50 on the weekly timeframe would verify the shift from consolidation to bullish momentum, attract contemporary shopping for curiosity and open up Ethereum’s path to creating the next excessive throughout the Channel Up construction. 

Associated Studying

The Channel Up construction is structured in such a approach that the creation of a brand new increased excessive at this level would necessitate a break above the present all-time excessive of $4,900. A contact of the higher trendline within the Channel Up would see the Ethereum worth peaking above $5,500 earlier than present process any main correction.

“When that occurs, intention for no decrease than the All Time Excessive (TP = 4,900),” the analyst said.

Ethereum
Supply: X

On the time of writing, Ethereum is buying and selling at $2,631.

Ethereum price chart from Tradingview.com
ETH worth holding $2,600 | Supply: ETHUSDT on Tradingview.com

Featured picture created with Dall.E, chart from Tradingview.com



Source link

Tags: AimAnalystATHBottomCompletesDontEthereumFormationPriceWeeks
Previous Post

Dogecoin Rockets Up 12%, But This FOMO Signal Could End Rally

Next Post

Dogecoin (DOGE) Jumps 10%+: Is More Upside Ahead?

Next Post
Dogecoin (DOGE) Jumps 10%+: Is More Upside Ahead?

Dogecoin (DOGE) Jumps 10%+: Is More Upside Ahead?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Premium Content

SOL 1

Solana Price Breaches $60 Amid a Symphony of Bullish Indicators

December 16, 2023
Networks unchained: the shift toward intent-based autonomous operations

Networks unchained: the shift toward intent-based autonomous operations

January 26, 2024
US crypto reserve no substitute for SEC clarity — Industry exec

‘Crypto markets have been languishing in SEC limbo’

May 19, 2025
Bitcoin Bonanza Before The Halving? Analyst Sees Pre-Crash Buying Window

Bitcoin Bonanza Before The Halving? Analyst Sees Pre-Crash Buying Window

April 15, 2024
Analyst Explains Why It Had to Happen

Analyst Explains Why It Had to Happen

March 20, 2025
FBI Raids Polymarket CEO’s Home As DOJ Probes the Decentralized Betting Platform: Report

FBI Raids Polymarket CEO’s Home As DOJ Probes the Decentralized Betting Platform: Report

November 15, 2024

Recent Posts

  • XRP Price Jumps 10% Today, Will the Rally Continue?
  • NYC Mayor Lays Out Crypto Plans As Residents Vote In Democratic Primary
  • XRP Price Reclaims Key Resistance — Are More Gains on the Horizon?

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Blog
  • Cryptocurrency
  • DeFi
  • Dogecoin
  • Ethereum
  • Market & Analysis
  • NFTs
  • Regulations
  • XRP

Recommended

XRP Price Jumps 10% Today, Will the Rally Continue?

XRP Price Jumps 10% Today, Will the Rally Continue?

June 24, 2025
Changing political landscape brings huge crypto opportunity — US Rep. Steil

NYC Mayor Lays Out Crypto Plans As Residents Vote In Democratic Primary

June 24, 2025

© 2023 Dollar-Bitcoin | All Rights Reserved

No Result
View All Result
  • Home
  • Blockchain
  • Bitcoin
  • Cryptocurrency
  • Altcoin
  • Ethereum
  • Market & Analysis
  • DeFi
  • More
    • Dogecoin
    • NFTs
    • XRP
    • Regulations
  • Shop
    • Bitcoin Book
    • Bitcoin Coin
    • Bitcoin Hat
    • Bitcoin Merch
    • Bitcoin Miner
    • Bitcoin Miner Machine
    • Bitcoin Shirt
    • Bitcoin Standard
    • Bitcoin Wallet

© 2023 Dollar-Bitcoin | All Rights Reserved

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
Go to mobile version