Ethereum (ETH) Primed for Rebound to $1,900 if This Key Resistance Breaks – Top Analyst

2023-10-20 16:35

Ethereum has shown signs of recovery after holding key support at around $1,520 in mid-October. Though still stuck in a consolidation zone between $1,500 and $1,700 since August, Ethereum’s price has climbed back above $1,600 today. Now, Ali reveals to his 31k followers on X how Ethereum could be poised for a larger rebound if bulls can build on this momentum.

Ascending Triangle Spotted

In spite of the sideways churn, Ali points to an ascending triangle pattern that has formed on Ethereum’s 3-day chart. This technical setup consists of horizontal resistance along with rising higher lows – a potentially bullish signal if upside breakout occurs.

Specifically, Ali cites the 18-week simple moving average, currently around $1,650, as the key resistance line to watch. In his words, “A firm close above the 18SMA could propel $ETH to $1,800 – $1,900.”

Upside Targets if Breakout Confirmed

If Ethereum can close decisively above the 18SMA near $1,650, Ali expects substantial upside follow through toward the $1,800-$1,900 area. This would represent a 15%+ gain from current levels around $1,620.

In summary, Ethereum flipping a key moving average on the 3-day chart could confirm the ascending triangle and ignite a rally back toward the top of the recent trading range. Ali outlines the technical alignment that has Ethereum poised for more upside if bulls can fuel a breakout.

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The post Ethereum (ETH) Primed for Rebound to $1,900 if This Key Resistance Breaks – Top Analyst appeared first on CaptainAltcoin.

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Ethereum (ETH) на Currencies.ru

$ 3362.57 (-0.39%)
Объем 24H $27.015b
Изменеия 24h: -1.55 %, 7d: -13.21 %
Cегодня L: $3297.22 - H: $3393.89
Капитализация $405.039b Rank 2
Цена в час новости $ 1605.63 (109.42%)

ethereum key zone between consolidation still mid-october

Источник: captainaltcoin.com

ethereum key → Результатов: 126


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