Sunday, February 28, 2021
Home Latest News Ethereum Ethereum Expects to Hit $750

Ethereum Expects to Hit $750

Ethereum blockchain native token ETH expects to reach $750 in the fourth quarter as it is above a critical level of technical support.

On Monday, for the tenth time since November 26, the ETH/USD exchange rate attempted to break a short-term upward trend line. But bulls held up near the support base, raising the potential of the pair in the coming hourly sessions to mark a rebound. Apparently, near a resistance level of $621, each rebound from the support trendline of the Ethereum token has been exhausted. Together both trendlines give the appearance of the form of an Ascending Triangle, a technical pattern considered bullish by traders.

A similar structure has been created by the Ethereum ETH token, confirmed by a horizontal resistance trendline followed by a rising one. The cryptocurrency now trades within the spectrum of the structure, only to the upside at a later breakout. Before the consolidation trend emerged, it was rallying upward.

Josh Rager, co-founder of, a forum for crypto-trading education, observed that the convergence of ETH/USD within the Ascending Triangle pattern enhances the probability of forming a higher high. He noted that the next upward leg will be over $700 at least. “Ethereum is just grinding up slowly over the past month,” he explained. “If price can hold this trend and make its way back up to retest $610+ — I would expect the next move to be a higher-high With a push to over $700.”

As reporetd on The consequential upside goal for Ethereum is approximately $762. Usually, the Ascending Triangle breakouts shoot the asset upwards by as much as the full height of the pattern.

Subscribe to our newsletter

To be updated with all the latest news, offers and special announcements.



Please enter your comment!
Please enter your name here

- Advertisment -

Must Read

DEX Volumes Have Already Surpassed $120b

Facing high transaction costs, Ethereum-powered decentralized exchanges or DEXes, continue to grow, with DEXes handling more than $120 billion in 2021 so far. Combined DEX volumes...