In our last Ethereum forecast, we wrote that the chart is becoming more and more bullish over time. We had formed a double-bottom formation, which often ensures rising courses. Now a new pattern has been formed, which could break out soon. Furthermore, the Bitcoin dominance seems to be decreasing, which is why more and more funds could flow into Ether and other altcoins. We at CryptoTicker are analyzing the Ethereum Chart and the Ethereum-Bitcoin Chart for you today.
When will Ethereum rise?
ETH/USD Triangle
The Ethereum price was able to form another, larger triangle than before. This triangle is often used for falling prices, which is why one should be careful. However, the Bitcoin price has formed a similar triangle and has broken out of it bullish. Due to this, we assume that the Ethereum price will follow suit and break out of the descending triangle just like the Bitcoin bullish. This outbreak will happen no later than 20.6.2022, which is why it can be assumed that the crypto market will soon decide whether it will go up or down. If the price breaks out bullish, we expect that the price will rise to about $2,300. This is where the next resistance is located. Otherwise, we expect rates of about $1,500.
Should you invest in Ethereum now?
ETH/BTC Bullish Divergence
If we look at the indicators of the Ethereum price against the Bitcoin, we can see that the Ethereum price has developed a bullish divergence. The price has been steadily falling in recent days, but the indicator called the Relative Strength Index (RSI) has been steadily rising. Thus, we can speculate in the future that the Ethereum price will outperform the Bitcoin price.
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