Ascending triangle

Ascending Triangle Pattern on Ethereum 4 hour chart

Ascending Triangle Pattern on Ethereum 4 hour chart is seen and Ethereum can make a major move on either side.

Ethereum price today is $3,793.90 USD with a 24-hour trading volume of $19,163,417,312 USD. Ethereum is down 3.47% in the last 24 hours, with a market cap of $450,777,701,190 USD. It has a circulating supply of 118,816,431 ETH coins.

Ascending Triangle
Source: Tradingview

Ascending Triangle: Analysis

As the images show in the graph, such patterns can break both sides. The break is usually predicted to be equal to the size of altitude. That is, precisely speaking, more than 21%. The local support for Ethereum is at $3470 and the resistance is at $4181 near the EMA 200 line. Ethereum pretty much mimics the Bitcoin patterns more than other altcoins so that should also be considered while making an evaluation.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

Check Also


EU MPs Attack Amazon’s Participation in Digital Euro Project

A cross-party coalition of members of the European Parliament on Tuesday came under fire at …

Leave a Reply

Your email address will not be published.