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Time to buy Ethereum (ETHUSD)?

The 1 hour timeframe of Ethereum (ETHUSD) is shown in this analysis with the sideways movement in price action from August 12, 2018 till current date captured with a symmetrical triangle chart pattern. Similar chart pattern mentioned here for example helped capture over 100 points move in the S&P500 (SPX).

Ethereum buy, buy ethereum, Ethereum 1 hour analysis

At least two points of contact on each trendline used to draw the chart pattern makes it valid as shown by the green ellipses. The implication of the pattern is a stalemate between Ethereum bulls and bears, and of importance is the fact that the triangle is coming after a downtrend in Ethereum, which therefore opens up the possibility of a bullish move.

$304.07 is used in this analysis to indicate a breakout to the upside, while $270.08 is used to indicate a downside ejection out of the chart pattern.

~$82.49 is used as the width of the triangle (i.e. $330.85 minus $248.36), so that a bullish move to the upside can be expected to target ~$387. A downside projection of the triangle can be expected to target ~$187.

Interested in Bitcoin analysis? Check out our previous free analysis here. Besides, USDJPY (FX) can be found here.

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2 thoughts on “Time to buy Ethereum (ETHUSD)?

  1. […] in Ethereum (ETHUSD) ? Check out our previous free analysis here. Besides, Bitcoin analysis can be […]

  2. […] in Ethereum (ETHUSD) ? Check out our previous free analysis here. Besides, Cardano (ADA) analysis can be […]

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