Ethereum Price Completes 12 Weeks Of Bottom Formation, Analyst Says Don’t Aim Lower Than $4,900 ATH

Quick Summary:

A break above the MA50 on the weekly timeframe would confirm the shift from consolidation to bullish momentum, draw in fresh buying interest and open up Ethereum’s path to creating a higher high within the Channel Up structure.  Related Reading: XRP Price Explosion Above $3 Is A Matter Of When, Not If: Analyst Reveals Timeline The Channel Up structure is structured in such a way that the creation of a new higher high at this point would necessitate a break above the current all-time high of $4,900.

At the time of writing, Ethereum is trading with a 0.07% gain in the past 30 days, which reveals the current consolidation situation it finds itself under.  However, according to a technical analysis on TradingView, the Ethereum price could be well on its way to reaching a new all-time high after 12 weeks of consolidation.

Ethereum Price Completes Bottom Formation According to a technical analysis of the Ethereum price in the weekly candlestick timeframe, the cryptocurrency is currently in its 12th week of consolidation after a decline that ended in the first week of August.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Scott Matherson

Category: Crypto

Markets: United Kingdom

Topics: Ethereum Ethereum Crypto news ETHUSDT Ethusd Ethereum price Crypto analyst Ethereum news ETH Eth price Analyst ETH news Crypto

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-31 @ 22:30:08 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 452 words

Reading Time: 3 minutes read

Sentences: 62 lines

Sentence Length: 8 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 23357131

View Article Analysis

About NewsBTC

Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 6 posts per day

Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 14 hours ago

Coverage Areas: United Kingdom

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #102

Publisher Details

Frequently Asked Questions