fxstreet.com 02 Feb, 2021 08:00 am

ETH primed for new all-time highs as resistance weakens

ETH primed for new all-time highs as resistance weakens
Ethereum price is ready for a significant upswing as the price nears the x-axis of an ascending triangle. A candlestick close above $1,450 would confi

Ethereum price prepares for a 30% breakout from a bullish consolidation pattern.Ethereum price is ready for a significant upswing as the price nears the x-axis of an ascending triangle.Ethereum price primed for new all-time highs Ethereum price is ready for a breakout after a two-week consolidation period where it mostly traded inside an ascending triangle.Ethereum Coin Supply on Exchanges chart Although the bullish scenario is plausible, Ethereum price has faced multiple rejections at the $1,450 resistance level.

A candlestick close above $1,450 would confirm a bullish breakout that may propel ETH towards $1,900, representing a 30% increase.A subsequent 12-hour candlestick close above the resistance barrier at $1,450 not only confirms a bullish breakout but also could see Ether’s market value rise by more than 30%.

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