ETH/USD – A Strong Uptrend

09/13/2021 by No Comments

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ETH/USD is currently on a strong uptrend. The prices have been climbing up for the past few weeks and are currently in a range of $7. However, traders are starting to express concern over the strong gains and are demanding more aggressive action from ETH/USD. Currently, ETH is being traded at $7. 75, which translates to a $4. 88 premium for ETH and a 20% premium over the price of Bitcoin. The uptrend is also making a comeback as the ETH/USD pair is trading at a 20% premium on the price of Bitcoin. The top line is currently at $8. 00 and the lower end is currently at $4. The uptrend is also showing signs of exhaustion as the ETH/USD pair is trading at a resistance level of $5. 50 and a support level of $6. As the ETH/USD pair continues to drop towards the resistance level of $5. 50, price action may continue to drift towards the resistance level of the uptrend line.

ETH/USD is not only facing a strong upswing, but it has already started to move towards a technical pattern that is usually identified as one which has a bullish crossover (also known as a bullish crossover pattern). A bearish crossover has been in the picture since the beginning of this year, and there is no doubt that ETH/USD will soon hit a bearish crossover. The price action has been facing a downtrend as well lately. It is highly important to watch the price action closely to watch the pattern, because the downtrend is unlikely to happen for long.

The pattern is a bullish crossover with a long-term uptrend line that connects the price of ETH at the top of the crossover with the resistance level of the uptrend line. The pattern also has a short-term downsloping trend line which has a tendency to reverse and the price could rise towards the resistance line. The uptrend line is at $7. 50 and the downsloping trend line is at $6.

Market goes back into past ranges.

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The ETH/USD market reverses its previous ranges.

The ETH/USD market reverses its previous ranges.

The ETH/USD market reverses its previous ranges.

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