Rising Wedge Pattern

Ethereum rising wedge pattern: can it trigger a more bearish trend?

With the Bitcoin volatility fading out, it was expected that altcoins might gain power here.

The Ethereum price today is $4,279.00 USD with a 24-hour trading volume of $20,569,749,574 USD. Ethereum is up 2.73% in the last 24 hours, with a live market cap of $506,935,301,549 USD. It has a circulating supply of 118,470,406 ETH coins.

Rising Wedge Pattern
Source: TradingView

Rising Wedge Pattern: Analysis

Though Ethereum rose to make higher lows it could not break the previous highs, making lower highs as well. Higher lows and lower high has turned into rising wedge pattern. Ethereum is currently neutral in the 1-hour timeframe. The RSI is normal however the pattern signals more bearish moves after a successful breakout from here.

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.

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