{"id":178998,"date":"2023-10-22T18:58:53","date_gmt":"2023-10-22T13:28:53","guid":{"rendered":"https:\/\/dripp.zone\/news\/bullish-pattern-guides-rally-to-2000-crypto-news\/"},"modified":"2023-10-22T18:58:56","modified_gmt":"2023-10-22T13:28:56","slug":"bullish-pattern-guides-rally-to-2000-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bullish-pattern-guides-rally-to-2000-crypto-news\/","title":{"rendered":"Bullish Pattern Guides Rally to $2000 &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"post-162127\">\n<p>\nA bullish breakout from $1745 monthly resistance would bolster the ETH price to escape the consolidation phase.\t\t\t\t<\/p>\n<p><!--\n     \n\n<div class=\"marketThumbs\">\n             <noscript><img width=\"1200\" height=\"681\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/3G9k5WHM-e1697981058213.png\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"ETH price\" decoding=\"async\" fetchpriority=\"high\" \/><\/noscript><\/div>\n\n\n--><\/p>\n<p class=\"MarketsUp f-14 d-block\">Published 6 seconds ago  <\/p>\n<div class=\"Atcs\">\n<p><span style=\"font-weight: 400\">The Ethereum (ETH) price shows a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/markets\/ethereum-price-prediction-will-eth-surpass-1800\/\">newfound recovery<\/a> after bouncing off the $1,530 support level on October 14. This bullish reversal represents a 6.6% increase within two weeks, bringing the coin\u2019s current trading price to $1,628. A closer look at the daily time frame suggests that this upswing could be part of a bullish reversal pattern known as a Double Bottom.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/elevated-treasury-yield-is-hurting-ethereum-more-than-bitcoin-details\/\">Elevated US Treasury Yield Is Hurting Ethereum More Than Bitcoin, Here\u2019s Why<\/a><\/p>\n<h2><b>Bullish Pattern Hints Upcoming Recovery<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The formation of a double-bottom pattern set the ETH price for a significant rally ahead<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Multiple support at $1500 indicates a high accumulation zone for traders<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The intraday trading volume in Ether is $6.6 Billion, indicating a 34% gain.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Ethereum Price Prediction\" width=\"1946\" height=\"1104\" data-lazy-src=\"https:\/\/s3.tradingview.com\/snapshots\/3\/3G9k5WHM.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/s3.tradingview.com\/snapshots\/3\/3G9k5WHM.png\" alt=\"Ethereum Price Prediction\" width=\"1946\" height=\"1104\"\/><\/noscript>Source- Tradingview<\/span><\/p>\n<p><span style=\"font-weight: 400\">Over the past two months, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/ethereum\/\">Ethereum price<\/a> has been caught in a consolidation range between $1,745 and $1,535. While the short-term trend indicates sideways movement, these specific levels are significant as they contribute to the formation of a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/double-bottom-pattern\/\">double-bottom pattern<\/a>. Historically, such patterns occurring at key technical supports have often led to significant upswings.\u00a0<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400\">As of press time, the ETH price is trading at $1,630 and faces resistance at the $1,650 level, as evidenced by a high-wick rejection candle on the daily chart. A daily candle close above this minor resistance could propel the ongoing recovery by another 5.2%, challenging the pattern\u2019s neckline at $1,745.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">Breaking above this crucial resistance would provide more reliable confirmation of a sustained recovery, potentially pushing the price up to the $2,000 mark, a gain of approximately 14.5%.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<h2><strong>Will ETH Price Hold $1500 Support?<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">While the near-term outlook for the ETH price appears bullish, it\u2019s important to note that the existing corrective trend remains in place until the price breaks above the last swing high of $1,745. Should the ongoing rally face supply pressure at this neckline resistance, the prices could experience another rejection, leading to a continuation of the sideways trend. However, a long-coming support trendline currently hovers around the $1,500 mark and offers coin holders a safety net against major corrections.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><b>Exponential Moving Average: <\/b><span style=\"font-weight: 400\">The 50-day <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/exponential-moving-average-how-to-leverage-it-in-crypto-market\/\">EMA<\/a> slope moving around $1650 offers an additional resistance level against buyers.<\/span><\/li>\n<li style=\"font-weight: 400\"><b>Relative Strength Index: <\/b><span style=\"font-weight: 400\">The daily <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/rsi-relative-strength-index\/\">RSI<\/a> slope above 50% reflects a suitable momentum to carry price recovery.<\/span><\/li>\n<\/ul><\/div>\n<div class=\"MarketBottm\">\n<div class=\"Socilsm\">\n<p>\n                    Share this article on:<\/p>\n<div class=\"LinksSo\">\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.me\/share\/url?url=https:\/\/coingape.com\/markets\/ethereum-price-prediction-emerging-pattern-may-guide-eth-recovery-to-2000\/&#038;text=Ethereum Price Prediction: Emerging Pattern May Guide $ETH Recovery to $2000\" class=\"TeleS\"><i class=\"fa fa-paper-plane-o\"\/><\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/markets\/ethereum-price-prediction-emerging-pattern-may-guide-eth-recovery-to-2000\/\" data-action=\"share\/whatsapp\/share\" class=\"TeleSwp\"><i class=\"fa fa-whatsapp\"\/><\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/share?url=https:\/\/coingape.com\/markets\/ethereum-price-prediction-emerging-pattern-may-guide-eth-recovery-to-2000\/\" class=\"tw_new_logo\"><br \/>\n<img loading=\"lazy\" decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" class=\"mb-1\" alt=\"coingape\" width=\"18\" height=\"18\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"18\" height=\"18\"\/><\/noscript><br \/>\n<\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https:\/\/coingape.com\/markets\/ethereum-price-prediction-emerging-pattern-may-guide-eth-recovery-to-2000\/\" class=\"TeleSFb\"><i class=\"fa fa-facebook\"\/><\/a>\n                    <\/div>\n<\/p><\/div>\n<\/div>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA162127\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD162127\">\n<p>  The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p>     <!--           <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/category\/price-analysis\/\" class=\"closeArticle2 close-btn\">Close Story<\/a>--><\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A bullish breakout from $1745 monthly resistance would bolster the ETH price to escape the consolidation phase. Published 6 seconds ago The Ethereum (ETH) price shows a newfound recovery after bouncing off the $1,530 support level on October 14. This bullish reversal represents a 6.6% increase within two weeks, bringing the coin\u2019s current trading price [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":178999,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-178998","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/178998","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=178998"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/178998\/revisions"}],"predecessor-version":[{"id":179000,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/178998\/revisions\/179000"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/178999"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=178998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=178998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=178998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}