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Ethereum(ETH) Stalling or Poised for a Price Surge? ⏳️🪙💰#EthereumETFApprovalExpectations {spot}(ETHUSDT) Crypto Daily - Ethereum(ETH) had a fantastic, if unexpected rally over the last 7 weeks which took the number 2 cryptocurrency by market capitalization 100% higher. Is this now the end of this surge, as Ethereum(ETH)struggles to get above $2,700, or is there another big price rise to come? Ethereum(ETH)price inside short-term bullish pattern Source: TradingView The short-term price action for Ethereum(ETH)reveals that it is inside an ascending triangle - a bullish chart pattern. The top of the triangle coincides with the $2,750 horizontal resistance level, and so should the bulls be able to break through both, a resulting price surge could take place. $ETH tapping on 0.5 Fibonacci resistance level Source: TradingView Zooming right out into the weekly time frame it can be observed that the bulls have done wonders so far for the $ETH price. From the depths of despair, down at less than $1,400, the price is now tapping on that $2,750 resistance, having flipped the major $2,500 horizontal level into support. The Fibonacci levels, taken from the swing high to the swing low, are giving targets of $3,000 (0.618), and $3,500 (0.786), should ETH be able to surge through the current resistance. The sheer magnitude of the ETH/BTC downtrend Source: TradingView Looking at the ETH/BTC pair, things do not look anywhere near as rosy. Although the bulls have been able to put together a 40% rise for Ethereum(ETH)against $BTC, when one looks at the sheer magnitude of the downtrend, this isn’t much more than the proverbial “drop in the ocean”. For Etherem(ETH)to just get up to the first of the Fibonacci levels at 0.236 (0.034 BTC), it would entail another 39% rise from here, taking ETH/BTC back to the underside of the ascending trendline. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Ethereum(ETH) Stalling or Poised for a Price Surge? ⏳️🪙💰

#EthereumETFApprovalExpectations
Crypto Daily - Ethereum(ETH) had a fantastic, if unexpected rally over the last 7 weeks which took the number 2 cryptocurrency by market capitalization 100% higher. Is this now the end of this surge, as Ethereum(ETH)struggles to get above $2,700, or is there another big price rise to come?
Ethereum(ETH)price inside short-term bullish pattern
Source: TradingView
The short-term price action for Ethereum(ETH)reveals that it is inside an ascending triangle - a bullish chart pattern. The top of the triangle coincides with the $2,750 horizontal resistance level, and so should the bulls be able to break through both, a resulting price surge could take place.

$ETH tapping on 0.5 Fibonacci resistance level
Source: TradingView
Zooming right out into the weekly time frame it can be observed that the bulls have done wonders so far for the $ETH price. From the depths of despair, down at less than $1,400, the price is now tapping on that $2,750 resistance, having flipped the major $2,500 horizontal level into support.
The Fibonacci levels, taken from the swing high to the swing low, are giving targets of $3,000 (0.618), and $3,500 (0.786), should ETH be able to surge through the current resistance.

The sheer magnitude of the ETH/BTC downtrend
Source: TradingView
Looking at the ETH/BTC pair, things do not look anywhere near as rosy. Although the bulls have been able to put together a 40% rise for Ethereum(ETH)against $BTC, when one looks at the sheer magnitude of the downtrend, this isn’t much more than the proverbial “drop in the ocean”.
For Etherem(ETH)to just get up to the first of the Fibonacci levels at 0.236 (0.034 BTC), it would entail another 39% rise from here, taking ETH/BTC back to the underside of the ascending trendline.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

EthereumETFApprovalExpectations

Ethereum(ETH) Stalling or Poised for a Price Surge? ⏳️🪙💰

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