Bullish Pennant Predicts Ethereum Will Soon Shoot Towards $500

Bullish Pennant Predicts Ethereum Will Soon Shoot Towards $500
фото показано с : bitcoinist.com

2020-11-11 15:00

Ethereum has consolidated since hitting the $465 highs last week. It is neither up nor down in the past 24 hours. Still, analysts say that Ethereum is primed to move even higher in the weeks ahead. An analyst noted that the cryptocurrency is currently in the midst of a bullish pennant pattern, which could trigger a move above $500. Ethereum Primed to See Strong Rally Higher

Ethereum has consolidated since hitting the $465 highs last week. The coin currently trades for $445 and is neither up nor down in the past 24 hours.

Still, Ethereum is primed to move even higher in the weeks ahead. One crypto-asset analyst recently shared the chart below, noting that ETH is likely trading in a bullish pennant.

This pennant suggests that once Ethereum breaks the upper range of the pennant, it will move to $500 and potentially beyond.

Chart of ETH's price action over the past few months with an analysis by crypto trader Crypto Rand (@Crypto_Rand on Twitter). Source: ETHUSD from TradingView.com

Ethereum is also expected to move toward $800 as it turns the $400 region into support. A leading crypto-asset analyst recently shared the chart seen below, which shows that there is little macro resistance until $800-900: 

“Stop charting ETH against BTC it under performs USD. HTF trend is heavily bullish going into 2021, I really hope we get the chance to buy around $350 again at some point before we really start to see price clear $600 and $800… I have a large USD position to spend.”

Chart of ETH's price action over the past three years with analysis by crypto trader Cactus (@Thecryptocactus on Twitter). Source; ETHUSD from TradingView.com Fundamentals Also Bullish

Australia’s Reserve Bank recently announced it will be using Ethereum technology for its CBDC pilot test:

“The Reserve Bank today announced that it is partnering with Commonwealth Bank, National Australia Bank, Perpetual and ConsenSys Software, a blockchain technology company, on a collaborative project to explore the potential use and implications of a wholesale form of central bank digital currency (CBDC) using distributed ledger technology (DLT)… The project will involve the development of a proof-of-concept (POC) for the issuance of a tokenised form of CBDC that can be used by wholesale market participants for the funding, settlement and repayment of a tokenised syndicated loan on an Ethereum-based DLT platform.”

The Reserve Bank will also be partnering with ConsenSys, the Ethereum-focused development studio, to work on this project. Of course, this is not a sign that they will actually be using the formal Ethereum blockchain but is a validation of the technology that underpins it.

Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com Bullish Pennant Predicts Ethereum Will Soon Shoot Towards $500

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3024.69 (+2.47%)
Объем 24H $13.51b
Изменеия 24h: 0.21 %, 7d: -0.70 %
Cегодня L: $0 - H: $3028.17
Капитализация $363.327b Rank 2
Цена в час новости $ 460.87 (556.3%)

ethereum hours still analysts past down pennant

Источник: bitcoinist.com

ethereum hours → Результатов: 126


Фото:

Is Altseason Upon Us? XRP, Ethereum (ETH), Litecoin (LTC) up Over 10%, EOS up Almost 30%

After a relatively slow weekend the cryptocurrency markets are pumping quite a bit. Most coins are sustaining double digit gains with EOS increasing over 24% in the past 24 hours. Is this finally a sign of recovery? Is this the beginning of the altseason? After a relatively slow weekend where the prices didn’t move much, […] The post Is Altseason Upon Us? XRP, Ethereum (ETH), Litecoin (LTC) up Over 10%, EOS up Almost 30% appeared first on NullTX.

2018-12-18 00:46


Фото:

Bitcoin (BTC) Tumbles Under $3,800, Yet Analyst Expects “More Upside Than Downside”

Bitcoin (BTC) Moves Under $3,800, Crypto Market Cap At $120B  Another day, another bout of crypto market tumult. In the past 24 hours, cryptocurrencies at large have continued to move in a dramatic fashion, with leading assets, such as Bitcoin (BTC) and Ethereum (ETH), posting mid-single-digit losses that have sent investors’ Blockfolios into the red.

2018-12-6 07:45


Tron (TRX) Announces Accelerator Plan For DApp Creation With $1 Million in Prizes

A few hours ago, Justin Sun announced via twitter that TRON (TRX) would be launching an accelerator plan geared towards encouraging the development of DApps on the network. His tweet went on to state the following: This industry-leading plan, #TRON accelerator plan will empower developers and start-ups to develop #Dapps based on TRON protocol, one […] The post Tron (TRX) Announces Accelerator Plan For DApp Creation With $1 Million in Prizes appeared first on Ethereum World News.

2018-12-2 15:54


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Whale Watch: Ethereum Fresh Buy Signal Sparks Speculation

The Ethereum market has been a whirlwind of activity in recent days. After a brutal price correction last week, the world’s second-largest cryptocurrency by market capitalization has staged a mini-rebound, leaving investors wondering if this is the start of a sustained bull run or a fleeting flicker before another dip.

Ethereum To See Fresh Move Soon? What Futures Data Says

Data shows the Ethereum Open Interest has been trading at relatively low levels recently. Here’s what this could mean for the asset’s price. Ethereum Open Interest Has Been Moving Sideways Since Its Plunge As explained by an analyst in a CryptoQuant Quicktake post, the ETH Open Interest has followed a similar trajectory as the price of the cryptocurrency recently.

Ethereum Fees Now Lowest Since January: Is It A Bottom Signal?

On-chain data shows that Ethereum transaction fees have dropped to their lowest level since January, a sign that a bottom could be close. Ethereum Transfer Fees Has Plunged As Network Has Gone Cold According to data from the on-chain analytics firm Santiment, Ethereum transaction fees have taken a notable hit recently.

These Are The Ethereum Altcoins Witnessing High Whale Interest

Here are the Ethereum-based altcoins that are currently witnessing a high amount of activity from the whales, according to on-chain data. These Ethereum Altcoins Are Seeing High Whale Transactions Right Now In a new post on X, the on-chain analytics firm Santiment has discussed how several Ethereum-based altcoins have been seeing notable whale activity recently.

Ethereum Breaks $2,900, But Watch Out For Futures Overheating

Ethereum has broken beyond the $2,900 level during the past day, but data shows the futures market may be starting to become overheated. Ethereum Has Now Broken Through The $2,900 Level While Bitcoin has slumped to an overall sideways trajectory recently, Ethereum appears to have decided to pick a path of its own, as the second largest asset in the sector has surged almost 4% over the past 24 hours.

Recovery Dim? Ethereum Faces Potential Slide Towards $2,000

Ethereum, the linchpin of the decentralized application ecosystem, finds itself navigating a precarious path this week. The cryptocurrency’s value, having breached the pivotal $2,250 support level, now teeters on the edge of a decisive crossroads, caught between the prospect of a resurgence and the looming threat of a more pronounced downturn.