{"id":108659,"date":"2019-11-16T21:00:32","date_gmt":"2019-11-16T15:30:32","guid":{"rendered":"http:\/\/ambcrypto.com\/?p=108659"},"modified":"2019-11-16T18:42:20","modified_gmt":"2019-11-16T13:12:20","slug":"ethereum-could-breach-wedge-to-170-by-december","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/ethereum-could-breach-wedge-to-170-by-december\/","title":{"rendered":"Ethereum could breach wedge to $170 by December"},"content":{"rendered":"

While the Ethereum<\/a> network has not seen recent\u00a0ETH values anywhere near the 2019 high of over $350, its current value is just a stone’s throw away from its value on this day last year. With a price-tag of $181.73 at the time of writing, ETH has a $19.8 billion market cap, and a daily trading volume near $7.8 billion according to CoinMarketCap<\/a>. It was traded most on the EXX exchange, which accounted for around 4.08% of trade volume over the 24 hour period.<\/p>\n

\"Ethereum\"
Source: CoinStats<\/a><\/figcaption><\/figure>\n

Ethereum 4-hour chart<\/h3>\n
\"Ethereum\"
Source: ETHUSD<\/a> on TradingView<\/figcaption><\/figure>\n

The 4-hour chart displayed ETH entering a right-angled broadening wedge pattern near the end of last month, alongside a decreasing trend in volume over the duration of the pattern. A downward trend in volume is still indicative of a right-angled broadening wedge pattern, despite being seen in less number of cases. This kind of pattern tends to breakout upwards in 54% of cases, however, trend reversals occur far more often — 70% of the time.<\/p>\n

While this makes it much more likely that ETH will breakout of the pattern downward, the MACD and signal lines look poised for a bullish crossover, meaning a move upwards could be in store for the short-term.<\/p>\n

The EMA ribbon lines look to be diverging out from a mean reversion, trending above the price. Though this usually applies downward pressure on price, a bullish MACD crossover could pump the price above the diverging lines, causing ETH to move upward.<\/p>\n

While the breakout is more likely to occur downward, ETH could move up in the short-term, possibly to above $190 in the coming days. If followed by an upward breakout, ETH values could go as high as $205 by the end of next week. However, the more likely downward breakout could push the price down to $170 into the first week of December.<\/p>\n","protected":false},"excerpt":{"rendered":"

While the Ethereum network has not seen recent\u00a0ETH values anywhere near the 2019 high of over $350, its current value is just a stone’s throw away from its value on this day last year. With a price-tag of $181.73 at the time of writing, ETH has a $19.8 billion market cap, and a daily tradingContinue reading “Ethereum could breach wedge to $170 by December”<\/span><\/a><\/p>\n","protected":false},"author":24,"featured_media":108663,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[41,32,18,3,4,20],"tags":[],"class_list":["post-108659","post","type-post","status-publish","format-standard","has-post-thumbnail","category-analysis","category-ethereum-news","category-hide-cryptopanic","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"\nEthereum could breach wedge to $170 by December - AMBCrypto<\/title>\n<meta name=\"description\" content=\"While Ethereum hasn't seen recent ETH values anywhere near the 2019 highs, its current value isn't too far off from what it was this time last year.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"http:\/\/ambcrypto.com\/ethereum-could-breach-wedge-to-170-by-december\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum could breach wedge to $170 by December - 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