Friday, January 28, 2022
Banner Top

Yet again the crypto space is on the verge to get back to its previous levels as most of the assets are undergoing a notable pullback. While Bitcoin price is holding above $48,800 firmly, Ethereum price drops below $4000 yet again.

Currently swinging within a decisive phase, the asset is primed to hit highs above $4100 if it experiences a significant breakout. 

After maintaining firmly above $4000 levels, ETH price has yet again declined below these levels within a fortnight. The uncertain behaviour of the asset is raising concerns over the rally, yet the possibilities of a healthy uptrend is still surfacing the waters. 

Currently, Ethereum price after the recent decline confirmed its trend within a symmetric triangle. And hence it is primed to swing within the triangle until it reaches its apex that may take yet another couple of days.

Usually, the outcome of the pattern is a notable breakout towards the north where-in the asset slices through the upper resistance levels and rallies towards the next target. And therefore a similar price movement can be expected from the ETH price during the upcoming weekend.

However, at the press time, the Ethereum price is attempting to move a larger move, but the main concern lies within the sustainability. ETH price from past notable time is failing to pull a massive leg up above $4000 and constantly hovers in between $3900 to $4100.

Yet the current breakthrough may also be the similar one. And hence until and unless Bitcoin makes a massive move, ETH along with other altcoins may trend within a narrow region.

Show More
Tags: , , ,

Related Article