- Ethereum testing key $2,000 level
- An ascending triangle or pennant formation suggests a breakout
- The US dollar’s momentum fading may contribute to the current market rally
Ethereum has been on a bullish run of late and shows signs of breaking out of a bullish continuation pattern. The pattern could be either an ascending triangle or a pennant formation, with the $2,000 level being the crucial point of resistance.
It is possible that the weakening of the US dollar against other G10 currencies could be driving the market rally. For example, EUR/USD has risen from 1.05 to 1.10 since March 15, and GBP/USD is currently trading at 1.25.
From a technical standpoint, it appears that Ethereum is likely to try and break through the $2,000 resistance level. Is it worth investing at this point? What are the best levels for setting up a risk-reward trade?
Ethereum Chart by TradingView
Ethereum on the Verge of a Bullish Breakout
March has been a strong month for Ethereum, with a bullish continuation pattern forming, either in the form of an ascending triangle or a pennant.
Such patterns are formed by consolidation below horizontal resistance. If the market is able to break through this resistance, the measured move is equal to the lengthened segment of the triangular formation.
This could alternatively be interpreted as a pennant, in which case the measured move points at $2,300. If this proves to be the case, the market should be stopped above $2,000, before continuing its upward trajectory. A conservative approach would be to place a pending order to buy the price at $2,000, with a stop at $1,800. The target could be set at $2,300, with 50% of profits booked and the rest trailed.
This blog is like a virtual mentor, guiding me towards personal and professional growth Thank you for being a source of inspiration
Thank you for this informative post. It’s clear, concise, and very well-structured. I learned a lot and will definitely be coming back for more. https://nftbeyond.com/
Forest Whispers: Listening to the Calming Sounds of Trees : https://jivoice.com/forest-whispers-listening-to-the-calming-sounds-of-trees/
Handbook on Cyber Hate: The Modern Cyber Evil – Download ebook – https://mazkingin.com/handbook-on-cyber-hate-the-modern-cyber-evil/
Mind Over Matter: The Psychology of Motivation : https://jivoice.com/mind-over-matter-the-psychology-of-motivation/
Ultimate Link Building Course 2024: Master Backlinks For Seo – Download Video Course from Direct Link – https://mazkingin.com/ultimate-link-building-course-2024-master-backlinks-for-seo/
Inclusive Education: Fostering Diversity and Equality in Student Communities : https://jivoice.com/inclusive-education-fostering-diversity-and-equality-in-student-communities/
Download ebook : The Next Generation Innovation in IoT and Cloud Computing with Applications: https://mazkingin.com/the-next-generation-innovation-in-iot-and-cloud-computing-with-applications/
This is a fantastic article! It’s well-researched, informative, and written in a way that’s easy to understand. I learned a lot from reading it. : nftbeyond.com
https://mazkingin.com/options-wheel-strategy-how-to-generate-an-income-stream-using-cash-secured-puts-and-covered-calls/
Medicinal Applications of Phytopharmaceuticals : https://mazkingin.com/medicinal-applications-of-phytopharmaceuticals/
Thank you for this comprehensive article. It’s full of practical information and written in a clear, engaging style. I found it very helpful. Also Check My Post : https://mazkingin.com/the-corporate-life-cycle-business-investment-and-management-implications/
It’s not often that we come across content that really resonates with us, but this one is a standout. From the writing to the visuals, everything is simply wonderful.
I have bookmarked your blog and refer back to it whenever I need a dose of positivity and inspiration Your words have a way of brightening up my day
I have bookmarked your blog and refer back to it whenever I need a dose of positivity and inspiration Your words have a way of brightening up my day
Thank you for always being open and honest with your readers It’s refreshing to see a blogger who is unafraid to be vulnerable and real
Your words have resonated with us and we can’t wait to read more of your amazing content. Thank you for sharing your expertise and passion with the world.
Your blog is a great source of positivity and inspiration in a world filled with negativity Thank you for making a difference
This blog post is packed with great content!
I always look forward to reading your posts, they never fail to brighten my day and educate me in some way Thank you!
As a fellow blogger, I can appreciate the time and effort that goes into creating well-crafted posts You are doing an amazing job
This blog covers important and relevant topics that many are afraid to address Thank you for being a voice for the voiceless
Their posts always leave us feeling informed and entertained. We’re big fans of their style and creativity.
I have recommended this blog to all of my friends and family It’s rare to find such quality content these days!
Wow, this blogger is seriously impressive!
This is such an important reminder and one that I needed to hear today Thank you for always providing timely and relevant content
Your blog is a breath of fresh air in the crowded online world. This post, like many others, is filled with positivity and practical advice. I appreciate how you always manage to find the silver lining and encourage your readers to do the same. Keep up the fantastic work; the world needs more positivity like yours! — please subscribe to my channel https://www.youtube.com/@jivoice?sub_confirmation=1
This post truly brightened my day! I appreciate how you delve into the topic with such positivity and clarity. It’s refreshing to see content that not only informs but also uplifts the reader. Your writing style is engaging and always leaves me feeling inspired. Keep up the fantastic work!
Keep up the amazing work! Can’t wait to see what you have in store for us next.
Your blog post was really enjoyable to read, and I appreciate the effort you put into creating such great content. Keep up the great work!