RATE Group | Analyst Awaits 15% Ethereum Boom as Price Sees Bullish Consolidation
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Analyst Awaits 15% Ethereum Boom as Price Sees Bullish Consolidation

30 Oct Analyst Awaits 15% Ethereum Boom as Price Sees Bullish Consolidation

Posted at 00:40h in Ethereum News by

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While there are some analysts saying that Bitcoin’s chart isn’t looking all too bullish, Ethereum is purportedly setting itself up for a thrust higher.

Brave New Coin’s Josh Olszewicz recently noted that the cryptocurrency’s recent consolidation in the $180 price region has allowed ETH to print a bullish chart pattern, an ascending triangle — a signal that often implies bullish trend continuation for the asset in question. He notes that a measured move for this triangle would be a 15% rally to $215 over the coming days.

This isn’t the only strong technical trend that Ethereum has seen, according to Olszewicz. The Brave New Coin analyst previously pointed out that he expects for  ETH’s price to see an edge-to-edge Ichimoku Cloud move from $183 to $260 — a 40% move higher. While this seems crazy, the recent move has made the charts of many cryptocurrencies bullish once again.

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