Ethereum Could Surge To $6k Soon! Here Is Why.

5:22 pm, Thu, 30 December 21

Current Ethereum Data

Dominance
Price
Market Cap
Volume (24h)
1h
12h
1d
7d
1m
1y
?
Ethereum Could Surge To $6k Soon! Here Is Why. Watch this key pattern on the daily timeframe
Ethereum Could Surge To $6k Soon! Here Is Why. Watch this key pattern on the daily timeframe

If you have traded the market long enough, you would know that “Patterns tend to repeat!” and right now a key pattern that foretold the massive surge we saw play out on Ethereum is repeating on the daily timeframe!

The key pattern we are talking about is the Descending Channel Pattern, and the last time it played out on the Ethereum 1 day price chart we saw a massive surge follow. This surge lasted for months and pushed the ETH price more than 83% higher in value.

Right now, that descending channel pattern is forming again on the daily timeframe! Giving us a clear indication that Ethereum might just be ready to surge massively again in the coming days.

If this plays out exactly as we predicted, we might see a massive buying opportunity to ride ETH to new ATHs very soon!

Ethereum Could Surge To $6k Soon! Here Is Why. Watch this key pattern on the daily timeframe
Ethereum Could Surge To $6k Soon! Here Is Why. Watch this key pattern on the daily timeframe

To trade Ethereum with leverage, sign-up to Bybit right now! Bybit’s BIGGEST Deposit Bonus Campaign is now live! First-time depositors can get up to a $4,100 Bonus when you sign-up and fund your Bybit account with our Bybit link.

Claim up to $30,030 in Bonus

100x Leverage

Ethereum Descending Channel Pattern!

The Descending channel pattern is a bullish reversal pattern that forms when prices retrace after a bullish surge. This retracement is contained within parallel lines with the bullish breakout of these parallel lines indicating the end of the retracement and the resumption of the bullish move higher.

Ethereum is still trading within these parallel lines as we speak, meaning that the ETH bearish retracement is still ongoing. But for how long?

Ethereum Sell-Off Might Not Last Long! Watch This Key Pattern
Ethereum Could Surge To $6k Soon! Here Is Why. Watch this descending channel pattern playing out right now.

Key Levels To Watch!

The most important key level to watch for on the Ethereum price chart is the resistance channel of the descending channel pattern currently playing out.

We want to see the ETH price clearly break through and close above this key resistance for it to signify the end of the bearish retracement for Ethereum.

Once we see a bullish breakout like this, we can then expect to see a price follow-through and an increase in the bullish momentum pushing the Ethereum price into new highs in no time.

But until this bullish breakout occurs, the Ethereum price might just continue to bounce within the descending channel pattern and continue to retrace lower.

Ethereum Could Surge To $6k Soon! Here Is Why. Watch this key pattern on the daily timeframe
Ethereum Could Surge To $6k Soon! Here Is Why. Watch this key pattern on the daily timeframe

Claim up to $30,030 in Bonus

100x Leverage

Easy Steps From Beginner To Pro Crypto Trader

You can speed up your learning journey by reading our How To Trade Bitcoin Guide. This guide is the best for crypto traders who wants to get familiar with the basics of Bitcoin trading. You can also check out our top list of Best Bitcoin Exchanges To Trade With.

PrimeXBT Covesting: Trade Hassel Free

Sign-up on PrimeXBT today to trade Bitcoin hassle-free. You can copy experienced traders and access hundreds of different strategies on the platform! Don’t forget to claim your 25% bonus by using the promo code “bitcoinsensus50” when you sign-up with our link  PrimeXBT Covesting

Recommended Bitcoin Trading Platforms:
★★★★★
★★★★★

Rating: 94%

Claim up to $30,030 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.075%
Maker:
-0.025%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 89%

Claim up to $4100 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.075%
Maker:
-0.025%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 91%

Claim up to $7000 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.050%
Maker:
0.050%
Wire:
Credit:
Crypto: