Ethereum at $2,000? ETH Price 'Bullish Flag' Hints at September Gains Against Bitcoin and Dollar
Ether is forming classic bullish patterns against the greenback and its main crypto rival on shorter-term charts.
Market analysis
Ethereum's native token, Ether (ETH), looks poised to strengthen against the US dollar and Bitcoin (BTC) in the days leading up to its proof-of-stake transition in September.
Bullish ETH price chart setupThe bullish outlook emerges from the classic technical indicators on the ETH/USD and ETH/BTC charts. For example, ETH/USD has formed a “falling wedge” pattern with a profit target around 30% above current prices.
Meanwhile, the ETH/BTC chart is drawing a potential “bullish flag” that could raise the price by around 10% from current price levels upon resolution.
Here's how these bullish setups might play out.
Ethereum at $2,000 next?Rolling wedges form when price trends fall inside a contracting descending channel.
Illustration of falling coin. Source: New Trader UThey usually resolve after price breakouts above their upper trendlines. Their breakout target is as high as the maximum distance between their upper and lower trendlines when measured from the breakout point
The price of ETH has been falling since mid-August...
Ether is forming classic bullish patterns against the greenback and its main crypto rival on shorter-term charts.
Market analysis
Ethereum's native token, Ether (ETH), looks poised to strengthen against the US dollar and Bitcoin (BTC) in the days leading up to its proof-of-stake transition in September.
Bullish ETH price chart setupThe bullish outlook emerges from the classic technical indicators on the ETH/USD and ETH/BTC charts. For example, ETH/USD has formed a “falling wedge” pattern with a profit target around 30% above current prices.
Meanwhile, the ETH/BTC chart is drawing a potential “bullish flag” that could raise the price by around 10% from current price levels upon resolution.
Here's how these bullish setups might play out.
Ethereum at $2,000 next?Rolling wedges form when price trends fall inside a contracting descending channel.
Illustration of falling coin. Source: New Trader UThey usually resolve after price breakouts above their upper trendlines. Their breakout target is as high as the maximum distance between their upper and lower trendlines when measured from the breakout point
The price of ETH has been falling since mid-August...
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