Ethereum Eyes $2,480 Break with Double Bottom Pattern

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FxNews—Ethereum has formed a double bottom pattern and is currently testing the $2,480 resistance level. Meanwhile, the Awesome Oscillator signals divergence with green bars approaching the zero line from below. This development in the price action and the AO indicator suggests that Ethereum’s price has the potential to rise further.

From a technical perspective, the bullish wave could resume if ETH/USD exceeds $2,480. In this scenario, the next bullish target could be the $2,560 resistance level.

Conversely, a dip below the $2,380 support would invalidate the bullish outlook.

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Ghi chú

ETH/USD formed a long wick candlestick pattern, clinging to the immediate resistance of $2,480. The previous analysis is valid. The continuation of the bullish trend depends on the Ethereum bulls stabilizing the price above $2,480.

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Đóng lệnh: đạt mục tiêu

The ETH/USD double-bottom pattern came into play. The bullish strategy hit the target of $2,560 on a sharp bullish movie on speculation on Donald Trump's win, which would favor cryptocurrencies.