Ethereum (ETH) Primed for Rebound to $1,900 if This Key Resistance Breaks – Top Analyst

Ethereum has shown signs of recovery after holding key support at around $1,520 in mid-October. Though still stuck in a consolidation zone between $1,500 and $1,700 since August, Ethereum’s price has climbed back above $1,600 today. Now, Ali reveals to his 31k followers on X how Ethereum could be poised for a larger rebound if bulls can build on this momentum.

Ascending Triangle Spotted

In spite of the sideways churn, Ali points to an ascending triangle pattern that has formed on Ethereum’s 3-day chart. This technical setup consists of horizontal resistance along with rising higher lows – a potentially bullish signal if upside breakout occurs.

Specifically, Ali cites the 18-week simple moving average, currently around $1,650, as the key resistance line to watch. In his words, “A firm close above the 18SMA could propel $ETH to $1,800 – $1,900.”

Upside Targets if Breakout Confirmed

If Ethereum can close decisively above the 18SMA near $1,650, Ali expects substantial upside follow through toward the $1,800-$1,900 area. This would represent a 15%+ gain from current levels around $1,620.

In summary, Ethereum flipping a key moving average on the 3-day chart could confirm the ascending triangle and ignite a rally back toward the top of the recent trading range. Ali outlines the technical alignment that has Ethereum poised for more upside if bulls can fuel a breakout.

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Philipp Traugott
Philipp Traugott

Phil Traugott is a staff writer at CaptainAltcoin. As a trained marketing specialist for copywriting and creative campaigns, he has been advising top companies on the following topics: online marketing, SEO and software branding for more than 10 years. The topic of crypto currencies is becoming increasingly important for companies and investors and he found it very alluring and fitting for his skillset which prompted him to pivot his career towards blockchain and cryptocurrencies.