RATE Group | Ethereum Approaching the Apex of an Ascending Wedge as Bulls Prepare For A Break Higher
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Ethereum Approaching the Apex of an Ascending Wedge as Bulls Prepare For A Break Higher

06 Oct Ethereum Approaching the Apex of an Ascending Wedge as Bulls Prepare For A Break Higher

Posted at 21:40h in Ethereum News by

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Ethereum has seen a small +0.71% price increase over the past 24 hours of trading. The cryptocurrency is currently exchanging hands at a price of $224.66 after experiencing a small price decline totaling 2.85% over the past 7 rolling trading days.

Key Highlights:

  • Ethereum continues to trade in a period of consolidation as the market moves sideways.
  • It is currently trading at support provided by the .382 Fibonacci Retracement priced at $222
  • Support moving forward; $212, $202, $200, $188, $180.
  • Resistance moving forward; $288, $245, $253, $268, $276, $288, $300.

The ETH/USD market has been trading sideways as the market approaches the apex of the ascending triangle. Typically a market will breakout closer toward the apex with a great surge of volume that the majority of Ethereum holders have been longing for.

Ethereum continues to retain its 2nd ranked position in terms of overall market cap across the entire industry. It has a total market cap ranking of $23.01 billion after the…

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