{"id":639900,"date":"2024-09-05T09:00:20","date_gmt":"2024-09-05T09:00:20","guid":{"rendered":"https:\/\/ktsl888.com\/?p=639900"},"modified":"2024-09-04T16:44:55","modified_gmt":"2024-09-04T16:44:55","slug":"ethereums-plunge-could-be-over-this-key-pattern-signals","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereums-plunge-could-be-over-this-key-pattern-signals\/","title":{"rendered":"Ethereum\u2019s Plunge Could Be Over: This Key Pattern Signals A Rally Back To $4,000"},"content":{"rendered":"<p>Much like Bitcoin, Ethereum has faced significant challenges in recent months, struggling to sustain any major price rally. After reaching a peak of over $4,000 in March, Ethereum has been consistently declining, failing to break out of this <a href=\"https:\/\/ktsl888.com\/news\/ethereum\/is-ethereum-headed-for-trouble-analyst-warns-of-surging-exchange-reserves\/\" target=\"_blank\" rel=\"noopener \">bearish trend<\/a>.<\/p>\n<p>So far, the second-largest cryptocurrency by market cap has seen its price drop by over 5.9% in the past two weeks, and it continues to<a href=\"https:\/\/ktsl888.com\/news\/ethereum\/ethereums-future-will-ethereum-recover\/\" target=\"_blank\" rel=\"noopener \"> hover around<\/a> the $2,400 mark. Currently trading at $2,434, Ethereum has fallen 2.4% in the last week and 0.4% in the last 24 hours.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/ethereum\/is-ethereum-headed-for-trouble-analyst-warns-of-surging-exchange-reserves\/\" target=\"_blank\" rel=\"noopener \">Is Ethereum Headed For Trouble? Analyst Warns Of Surging Exchange Reserves<\/a><\/div>\n<h2>Is A Rebound To $4,000 Around The Corner?<\/h2>\n<p>Despite this downturn, market analysts remain optimistic about a potential turnaround. According to a recent <a href=\"https:\/\/x.com\/TheMoonCarl\/status\/84169520\" target=\"_blank\" rel=\"noopener nofollow\">post<\/a> by &#8216;The Moon&#8217; on X, Ethereum might be primed to rally back to $4,000\u2014if certain technical conditions are met.<\/p>\n<p>Particularly, The Moon highlighted Ethereum\u2019s current 1D Falling Wedge formation, a common chart pattern in technical analysis often indicating a <a href=\"https:\/\/ktsl888.com\/news\/ethereum\/ethereums-breakout-moment-is-a-7500-target-achievable-experts-weigh-in\/\" target=\"_blank\" rel=\"noopener \">potential reversal<\/a>. The analyst stated, \u201cOnce a breakout occurs, there&#8217;s a strong possibility Ethereum could rise back to $4K.\u201d<\/p>\n<figure style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/media\/GWoRDFRXsAAVE7v?format=jpg&amp;name=medium\" alt=\"Facing Wedge Pattern on the Ethereum chart\" width=\"1200\" height=\"656\"><figcaption class=\"wp-caption-text\">Facing Wedge Pattern on the Ethereum chart. | Source: <a href=\"https:\/\/x.com\/TheMoonCarl\/status\/84169520\" target=\"_blank\" rel=\"noopener nofollow\">The Moon on X<\/a><\/figcaption><\/figure>\n<p>For context, a falling wedge in technical analysis is a pattern where the price of an asset is in a downtrend but within a narrowing range.<\/p>\n<p>This pattern usually suggests that downward <a href=\"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-volatility-surpasses-bitcoins-by-50-data-shows\/\" target=\"_blank\" rel=\"noopener \">momentum is weakening<\/a>, and once the price breaks above the wedge, a reversal could occur. This is what The Moon predicts for Ethereum\u2014a potential breakout could lead to a surge back to previous highs.<\/p>\n<figure style=\"width: 2770px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/aXfXs5ZS\/\" alt=\"Ethereum (ETH) price chart on TradingView\" width=\"2770\" height=\"1496\"><figcaption class=\"wp-caption-text\">ETH price is moving downwards on the 1-hour chart. Source: ETH\/USDT on <a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=BINANCE%3ABTCUSDT\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<h2>Ethereum Experiencing Rise In Bullish Sentiments<\/h2>\n<p>Meanwhile, other analysts in the crypto community have shared similar bullish sentiments about Ethereum\u2019s future performance. Renowned crypto analyst Crypto Jack has <a href=\"https:\/\/x.com\/cryptojack\/status\/36674149\" target=\"_blank\" rel=\"noopener nofollow\">pointed out<\/a> that Ethereum\u2019s price is nearing a key long-term support level.<\/p>\n<p>Jack said a bounce from $2,200 could signal a strong reversal and potentially lead to a bullish trend. This long-term support level could be crucial for Ethereum as it tries to <a href=\"https:\/\/ktsl888.com\/news\/ethereum\/is-ethereum-price-under-pressure-what-futures-data-signals\/\" target=\"_blank\" rel=\"noopener \">regain momentum<\/a> after weeks of sluggish performance.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">The price of <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">$ETH<\/a> is approaching long term support.<\/p>\n<p>A bounce from $2.2k for <a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#Ethereum<\/a> could be extremely bullish. <a href=\"https:\/\/t.co\/pepeDZm5FA\" target=\"_blank\" rel=\"noopener nofollow\">pic.twitter.com\/pepeDZm5FA<\/a><\/p>\n<p>\u2014 CryptoJack (@cryptojack) <a href=\"https:\/\/twitter.com\/cryptojack\/status\/36674149?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">September 4, 2024<\/a><\/p><\/blockquote>\n<p>Adding to the bullish outlook is crypto analyst Mags, who recently <a href=\"https:\/\/x.com\/thescalpingpro\/status\/71030472\" target=\"_blank\" rel=\"noopener nofollow\">noted<\/a> on X that Ethereum is currently trading inside a massive triangle pattern.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/ethereum\/is-ethereum-price-under-pressure-what-futures-data-signals\/\" target=\"_blank\" rel=\"noopener \">Is Ethereum\u2019s Price Under Pressure? Here Is What Futures Data Signals<\/a><\/div>\n<p>According to Mags, this formation, combined with the possibility of a double bottom near the upward-sloping trendline, could signal that Ethereum is poised for a significant upward move.<\/p>\n<figure style=\"width: 990px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/media\/GWh5FqibEAAiw9Z?format=png&amp;name=medium\" alt=\"Ethereum chart.\" width=\"990\" height=\"800\"><figcaption class=\"wp-caption-text\">Ethereum price chart. | Source: Mags on X<\/figcaption><\/figure>\n<p>A double bottom occurs when an asset forms two low points at roughly the same price level, indicating strong support and the potential for a bullish reversal.<\/p>\n<p>Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Much like Bitcoin, Ethereum has faced significant challenges in recent months, struggling to sustain any major price rally. After reaching a peak of over $4,000 in March, Ethereum has been consistently declining, failing to break out of this bearish trend. So far, the second-largest cryptocurrency by market cap has seen its price drop by over 5.9% in the past two weeks, and it continues to hover around the $2,400 mark. Currently trading at $2,434, Ethereum has fallen 2.4% in the last week and 0.4% in the last 24 hours. Related Reading: Is Ethereum Headed For Trouble? Analyst Warns Of Surging Exchange Reserves Is A Rebound To $4,000 Around The Corner? Despite this downturn, market analysts remain optimistic about a potential turnaround. According to a recent post by &#8216;The Moon&#8217; on X, Ethereum might be primed to rally back to $4,000\u2014if certain technical conditions are met. Particularly, The Moon highlighted Ethereum\u2019s current 1D Falling Wedge formation, a common chart pattern in technical analysis often indicating a potential reversal. The analyst stated, \u201cOnce a breakout occurs, there&#8217;s a strong possibility Ethereum could rise back to $4K.\u201d For context, a falling wedge in technical analysis is a pattern where the price of an asset is in a downtrend but within a narrowing range. This pattern usually suggests that downward momentum is weakening, and once the price breaks above the wedge, a reversal could occur. This is what The Moon predicts for Ethereum\u2014a potential breakout could lead to a surge back to previous highs. Ethereum Experiencing Rise In Bullish Sentiments Meanwhile, other analysts in the crypto community have shared similar bullish sentiments about Ethereum\u2019s future performance. Renowned crypto analyst Crypto Jack has pointed out that Ethereum\u2019s price is nearing a key long-term support level. Jack said a bounce from $2,200 could signal a strong reversal and potentially lead to a bullish trend. This long-term support level could be crucial for Ethereum as it tries to regain momentum after weeks of sluggish performance. The price of $ETH is approaching long term support. A bounce from $2.2k for #Ethereum could be extremely bullish. pic.twitter.com\/pepeDZm5FA \u2014 CryptoJack (@cryptojack) September 4, 2024 Adding to the bullish outlook is crypto analyst Mags, who recently noted on X that Ethereum is currently trading inside a massive triangle pattern. Related Reading: Is Ethereum\u2019s Price Under Pressure? Here Is What Futures Data Signals According to Mags, this formation, combined with the possibility of a double bottom near the upward-sloping trendline, could signal that Ethereum is poised for a significant upward move. A double bottom occurs when an asset forms two low points at roughly the same price level, indicating strong support and the potential for a bullish reversal. Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":639924,"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":[134,136,6664,8323,1946,10336,91844,78803],"class_list":["post-639900","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-altcoin","tag-altcoin-market","tag-crypto","tag-eth","tag-ethereum","tag-ethereum-analysis","tag-ethereum-market","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>Ethereum Plunge Could Be Over: This Key Pattern Signals A Rally Back To $4,000<\/title>\n<meta name=\"description\" content=\"Ethereum, much like Bitcoin, has faced significant challenges in recent months, struggling to sustain any major price rally. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.\",\"sameAs\":[\"https:\/\/x.com\/0xEdyme\"],\"url\":\"https:\/\/ktsl888.com\/author\/samueledymeabayomi\/\"}]}<\/script>\n","yoast_head_json":{"title":"Ethereum Plunge Could Be Over: This Key Pattern Signals A Rally Back To $4,000","description":"Ethereum, much like Bitcoin, has faced significant challenges in recent months, struggling to sustain any major price rally. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/ktsl888.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum\u2019s Plunge Could Be Over: This Key Pattern Signals A Rally Back To $4,000","url":"http:\/\/ktsl888.com\/news\/ethereum\/ethereums-plunge-could-be-over-this-key-pattern-signals\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/ethereum\/ethereums-plunge-could-be-over-this-key-pattern-signals\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/DALL\u00b7E-2024-09-04-17.05.46-A-digital-illustration-showing-Ethereums-potential-rally-back-to-4000-based-on-a-key-pattern-signaling-the-end-of-its-plunge.-The-image-features-t.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/DALL\u00b7E-2024-09-04-17.05.46-A-digital-illustration-showing-Ethereums-potential-rally-back-to-4000-based-on-a-key-pattern-signaling-the-end-of-its-plunge.-The-image-features-t.jpg?fit=1024%2C1024"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","altcoin market","crypto","eth","ethereum","ethereum analysis","ethereum market","ethusdt"],"dateCreated":"2024-09-05T09:00:20Z","datePublished":"2024-09-05T09:00:20Z","dateModified":"2024-09-05T09:00:20Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum\\u2019s Plunge Could Be Over: This Key Pattern Signals A Rally Back To $4,000\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ethereum\\\/ethereums-plunge-could-be-over-this-key-pattern-signals\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ethereum\\\/ethereums-plunge-could-be-over-this-key-pattern-signals\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/DALL\\u00b7E-2024-09-04-17.05.46-A-digital-illustration-showing-Ethereums-potential-rally-back-to-4000-based-on-a-key-pattern-signaling-the-end-of-its-plunge.-The-image-features-t.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/DALL\\u00b7E-2024-09-04-17.05.46-A-digital-illustration-showing-Ethereums-potential-rally-back-to-4000-based-on-a-key-pattern-signaling-the-end-of-its-plunge.-The-image-features-t.jpg?fit=1024%2C1024\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"altcoin market\",\"crypto\",\"eth\",\"ethereum\",\"ethereum analysis\",\"ethereum market\",\"ethusdt\"],\"dateCreated\":\"2024-09-05T09:00:20Z\",\"datePublished\":\"2024-09-05T09:00:20Z\",\"dateModified\":\"2024-09-05T09:00:20Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/DALL\u00b7E-2024-09-04-17.05.46-A-digital-illustration-showing-Ethereums-potential-rally-back-to-4000-based-on-a-key-pattern-signaling-the-end-of-its-plunge.-The-image-features-t.jpg?fit=1024%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/639900"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=639900"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/639900\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/639924"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=639900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=639900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=639900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}