{"id":640646,"date":"2024-09-09T14:30:28","date_gmt":"2024-09-09T14:30:28","guid":{"rendered":"https:\/\/uniquehot.com\/?p=640646"},"modified":"2024-09-09T09:35:50","modified_gmt":"2024-09-09T09:35:50","slug":"ethereum-falling-wedge-3000","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-falling-wedge-3000\/","title":{"rendered":"Ethereum Forms Falling Wedge Pattern That Could Send Price To $3,000"},"content":{"rendered":"<p class=\"p2\"><a href=\"https:\/\/bitcoinist.com\/bitcoin-outperformed-ethereum-by-44-since-the-merge\/\" rel=\"nofollow\">Ethereum is still one of the worst-performer<\/a> of the top largest cryptocurrencies by market cap despite being incredibly popular. This bearish movement has seen an increasing number of investors being moved into the red as the price drops. If this continues, then the ETH price could fall below $2,000 again. But there is still a possibility for a reversal as a bullish pattern has formed on the Ethereum price chart.<\/p>\n<h2 class=\"p2\">Ethereum Falling Wedge Pattern Appears<\/h2>\n<p class=\"p2\">With the recent decline in price, there has been the formation of a falling wedge pattern for the <a href=\"https:\/\/uniquehot.com\/analysis\/eth\/ethereum-price-recovery-2500\/\">Ethereum cryptocurrency<\/a>, Now, with the rebound from its lows, this pattern has neared its completion, meaning the next steps will begin soon.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/analysis\/xrp\/xrp-price-to-100-why\/\">XRP Price To $100: Why Has It Not Hit This Price Yet?<\/a><\/div>\n<p class=\"p2\">Crypto analyst CobraVanguard pointed this out in an <a href=\"https:\/\/www.tradingview.com\/chart\/ETHUSD\/HY7AzMIE-ETH-s-Situation-What-Shall-we-Expect\/\" rel=\"nofollow\">analysis<\/a> on TradingView which highlighted the falling wedge pattern. This pattern, while it <a href=\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-pump-send-to-6000\/\">can be quite bullish for an asset<\/a>, it can also be very bearish for the Ethereum price. So, the crypto analyst outlines the two possible scenarios for the altcoin\u2019s price.<\/p>\n<p class=\"p2\">The first of these scenarios is a breakout from the falling wedge pattern that has formed on the 1-Day timeframe. If this breakout happens, then the Ethereum price could rocket from here. In addition to this, the crypto analyst has also outlined a bullish divergence on the MACD for the Ethereum price, which lends credence to a possible breakout from the falling wedge pattern.<\/p>\n<p class=\"p2\">However, on the flip side, where the price does not break out from this pattern, the cryptocurrency\u2019s price is expected to fall. This is due to the <a href=\"https:\/\/uniquehot.com\/news\/ethereum\/why-is-ethereum-eth-losing-ground-to-bitcoin-key-report-explains-eth-struggles\/\">mounting bearish pressure<\/a> on the second-largest crypto by market cap as <a href=\"https:\/\/bitcoinist.com\/ethereum-slips-to-2350-whales-exchange-751-million\/\" rel=\"nofollow\">large holders continue sell-offs<\/a> over the last month. Also, the analyst explains that the fifth wave could end up playing out, something that could push the price even higher.<\/p>\n<h2 class=\"p2\">Where Can The ETH Price Go From Here?<\/h2>\n<p class=\"p2\">The bullish scenario following a breakout is especially important for the Ethereum price as it could put an end to the <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-ethereum-price-crash\/\">bearishness that has rocked the price<\/a>. In the analysis, the crypto analyst outlines that a breakout from here would send the ETH price as high as $3,000, which is a more than 30% increase from here.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/dogecoin-price-prediction-extended-consolidation-or-a-break-below-above\/\">Dogecoin Price Prediction: Extended Consolidation Or A Break Below\/Above?<\/a><\/div>\n<p class=\"p2\">However, if there is a breakdown in the price, then the Ethereum price could be seeing another decline below $2,000. The analyst\u2019s chart puts the altcoin price as low as $1,778. Such a development, coupled with the <a href=\"https:\/\/bitcoinist.com\/bitcoin-network-activity-has-stalled-while-it-has-fallen-on-ethereum-citi-report\/\" rel=\"nofollow\">poor volume for ETH<\/a> so far, could trigger a further breakdown to $1,500.<\/p>\n<figure style=\"width: 3286px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/tes5cbKW\/\" alt=\"Ethereum price chart from Tradingview.com\" width=\"3286\" height=\"1450\"><figcaption class=\"wp-caption-text\">ETH price reclaims $2,300 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">ETHUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum is still one of the worst-performer of the top largest cryptocurrencies by market cap despite being incredibly popular. This bearish movement has seen an increasing number of investors being moved into the red as the price drops. If this continues, then the ETH price could fall below $2,000 again. But there is still a possibility for a reversal as a bullish pattern has formed on the Ethereum price chart. Ethereum Falling Wedge Pattern Appears With the recent decline in price, there has been the formation of a falling wedge pattern for the Ethereum cryptocurrency, Now, with the rebound from its lows, this pattern has neared its completion, meaning the next steps will begin soon. Related Reading: XRP Price To $100: Why Has It Not Hit This Price Yet? Crypto analyst CobraVanguard pointed this out in an analysis on TradingView which highlighted the falling wedge pattern. This pattern, while it can be quite bullish for an asset, it can also be very bearish for the Ethereum price. So, the crypto analyst outlines the two possible scenarios for the altcoin\u2019s price. The first of these scenarios is a breakout from the falling wedge pattern that has formed on the 1-Day timeframe. If this breakout happens, then the Ethereum price could rocket from here. In addition to this, the crypto analyst has also outlined a bullish divergence on the MACD for the Ethereum price, which lends credence to a possible breakout from the falling wedge pattern. However, on the flip side, where the price does not break out from this pattern, the cryptocurrency\u2019s price is expected to fall. This is due to the mounting bearish pressure on the second-largest crypto by market cap as large holders continue sell-offs over the last month. Also, the analyst explains that the fifth wave could end up playing out, something that could push the price even higher. Where Can The ETH Price Go From Here? The bullish scenario following a breakout is especially important for the Ethereum price as it could put an end to the bearishness that has rocked the price. In the analysis, the crypto analyst outlines that a breakout from here would send the ETH price as high as $3,000, which is a more than 30% increase from here. Related Reading: Dogecoin Price Prediction: Extended Consolidation Or A Break Below\/Above? However, if there is a breakdown in the price, then the Ethereum price could be seeing another decline below $2,000. The analyst\u2019s chart puts the altcoin price as low as $1,778. Such a development, coupled with the poor volume for ETH so far, could trigger a further breakdown to $1,500. Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":640669,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[167,6664,26263,14690,8323,89213,16163,1946,7931,6931,8686,78803],"class_list":["post-640646","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-analyst","tag-crypto","tag-crypto-analyst","tag-crypto-news","tag-eth","tag-eth-news","tag-eth-price","tag-ethereum","tag-ethereum-news","tag-ethereum-price","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>Ethereum Forms Falling Wedge Pattern That Could Send Price To $3,000<\/title>\n<meta name=\"description\" content=\"Ethereum is still one of the worst-performer of the top largest cryptocurrencies by market cap despite being 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Forms Falling Wedge Pattern That Could Send Price To $3,000","url":"http:\/\/uniquehot.com\/news\/ethereum\/ethereum-falling-wedge-3000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ethereum\/ethereum-falling-wedge-3000\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/09\/Ethereum_ddcd31.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/09\/Ethereum_ddcd31.jpeg?fit=1792%2C1024"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["analyst","crypto","crypto analyst","crypto news","eth","eth news","eth price","ethereum","ethereum news","ethereum price","ethusd","ethusdt"],"dateCreated":"2024-09-09T14:30:28Z","datePublished":"2024-09-09T14:30:28Z","dateModified":"2024-09-09T14:30:28Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Forms Falling Wedge Pattern That Could Send Price To $3,000\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereum-falling-wedge-3000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereum-falling-wedge-3000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/Ethereum_ddcd31.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/Ethereum_ddcd31.jpeg?fit=1792%2C1024\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"analyst\",\"crypto\",\"crypto analyst\",\"crypto news\",\"eth\",\"eth news\",\"eth price\",\"ethereum\",\"ethereum news\",\"ethereum price\",\"ethusd\",\"ethusdt\"],\"dateCreated\":\"2024-09-09T14:30:28Z\",\"datePublished\":\"2024-09-09T14:30:28Z\",\"dateModified\":\"2024-09-09T14:30:28Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/09\/Ethereum_ddcd31.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/640646"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=640646"}],"version-history":[{"count":1,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/640646\/revisions"}],"predecessor-version":[{"id":640672,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/640646\/revisions\/640672"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/640669"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=640646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=640646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=640646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}