The Ethereum price has been surging higher against the U.S dollars for a while now even as inflation continues to rise. And recently the Ethereum price just printed a bullish converging triangle pattern!
You can watch us explain this bullish pattern on Ethereum in our Youtube video. We also talked about a bearish analysis for Bitcoin and how to take advantage of the coming patterns.
Ethereum Bullish Converging Triangle
Ethereum is curently breaking out of the bullish converging triangle formed on the 4-hour timeframe. This confirms our bullish bias on the cryptocurrency and also increases the probability that we might see the Ethereum price surge to the $2,800 price region in the coming days.
This price region is the standard take profit region for this pattern. However, we still have a few resistance up ahead we need to break through to get to this $2,800 target.
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Key Levels To Watch
There are a few key levels to watch in the coming days. One of the main ones being the current Ethereum ATH at $2,035. This ATH might serve as a strong resistance pushing the price back down in the coming days.
However, if Ethereum manages to break through, we can expect to see volatility increase even has the cryptocurrency enters into uncharted price territory. This volatility might be just what we need to push the Ethereum price higher.
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