{"id":649227,"date":"2024-10-23T00:00:51","date_gmt":"2024-10-23T00:00:51","guid":{"rendered":"https:\/\/ktsl888.com\/?p=649227"},"modified":"2024-10-22T10:16:09","modified_gmt":"2024-10-22T10:16:09","slug":"ethereum-price-next-stop-3400","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-price-next-stop-3400\/","title":{"rendered":"Ethereum Price Breaks Out Of Symmetrical Triangle, Next Stop $3,400?"},"content":{"rendered":"

The Ethereum price <\/span><\/a>has just broken out of a key symmetrical triangle pattern, signaling a potential<\/span> surge to new levels<\/span><\/a> above $3,000. The recent breakout is seen as a bullish indicator for the top altcoin by analysts who have closely watched the Ethereum price action for the past few months.<\/span><\/p>\n

Ethereum Price Breaks Out Of Key Triangle Pattern<\/h2>\n

A popular crypto analyst identified as \u201cTheMoonCarl\u201d on X (formerly Twitter) has<\/span> disclosed<\/span><\/a> that the Ethereum price has finally broken out from its symmetrical triangle pattern. Sharing a chart illustration of the distinctive technical pattern, the analyst revealed to his 1.3 million followers that the<\/span> symmetrical triangle pattern<\/span><\/a> had begun forming in August 2024, extending through September and October to potentially reach a peak around December.<\/span><\/p>\n

Related Reading: Bitcoin Price Headed For $35,720? Why Muted Volume Could Trigger Major Crash<\/a><\/div>\n

However, before Ethereum could reach this designated endpoint, its price broke through the upper trendline of the triangle, indicating a potential<\/span> bullish breakout to new highs<\/span><\/a>. A symmetrical triangle is a key technical pattern that often indicates a<\/span> period of consolidation<\/span><\/a> followed by a breakout to the downside or upside.\u00a0<\/span><\/p>\n

In Ethereum\u2019s case, its price has been on a major consolidation trend, failing to experience similar price<\/span> surges seen in Bitcoin<\/span><\/a> and other altcoins.\u00a0 With the now broken triangle pattern, TheMoonCarl is setting new<\/span> bullish price targets<\/span><\/a> at around $3,400 for Ethereum.\u00a0<\/span><\/p>\n

At the time of the symmetrical triangle breakout, Ethereum was trading at around $2,707. However, as of writing, the<\/span> cryptocurrency has declined<\/span><\/a> by 3.15%, pushing its current price to $2,629, according to CoinMarketCap. While the analyst is highly optimistic about his $3,400 Ethereum price projection, the cryptocurrency will still have to see a 29.91% increase to achieve this feat.<\/span><\/p>\n

TH Whales Are On The Move<\/h2>\n

Amidst analysts’<\/span> bullish predictions for Ethereum<\/span><\/a> and its recent breakout from a key symmetrical triangle pattern, reports have revealed that large-scale investors, typically referred to as \u201cWhales\u201d are now back in action.\u00a0<\/span><\/p>\n

Whale Alert, a blockchain tracker and analytics system revealed a series of substantial<\/span> whale transactions<\/span><\/a> involving the Ethereum token. In the last 24 hours, an Ethereum whale had<\/span> moved<\/span><\/a> a whopping 12,590 ETH tokens, worth approximately $33.8 million from an unknown wallet to Coinbase.\u00a0<\/span><\/p>\n

Related Reading: Machine Learning Algorithm Predicts XRP Price Direction For This Week, What To Expect<\/a><\/div>\n

Additionally, in the past few hours, another Ethereum whale had<\/span> transferred<\/span><\/a> 8,452 ETH tokens valued at $22.4 million from an unknown wallet to Binance. Typically, when whales move coins from their private wallets to a centralized exchange, it often indicates that they may be selling off their tokens.\u00a0<\/span><\/p>\n

While a full-blown sell-off could cast a shadow on<\/span> Ethereum\u2019s already slow price momentum<\/span><\/a>, it appears that whales are not only moving ETH to exchanges but also potentially accumulating tokens. Whale Alert has reported that an anonymous whale recently<\/span> moved<\/span><\/a> 8,811 ETH from Binance to an unknown wallet.\u00a0<\/span><\/p>\n

These multiple transactions create uncertainty about whether whales are selling more than they are buying. However, with Ethereum\u2019s recent breakout from its symmetrical triangle pattern, bullish momentum could push prices higher, potentially encouraging more buying activity.\u00a0<\/span><\/p>\n

\"Ethereum
ETH price still holding $2,600 despite decline | Source: ETHUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The Ethereum price has just broken out of a key symmetrical triangle pattern, signaling a potential surge to new levels above $3,000. The recent breakout is seen as a bullish indicator for the top altcoin by analysts who have closely watched the Ethereum price action for the past few months. Ethereum Price Breaks Out Of Key Triangle Pattern A popular crypto analyst identified as \u201cTheMoonCarl\u201d on X (formerly Twitter) has disclosed that the Ethereum price has finally broken out from its symmetrical triangle pattern. Sharing a chart illustration of the distinctive technical pattern, the analyst revealed to his 1.3 million followers that the symmetrical triangle pattern had begun forming in August 2024, extending through September and October to potentially reach a peak around December. Related Reading: Bitcoin Price Headed For $35,720? Why Muted Volume Could Trigger Major Crash However, before Ethereum could reach this designated endpoint, its price broke through the upper trendline of the triangle, indicating a potential bullish breakout to new highs. A symmetrical triangle is a key technical pattern that often indicates a period of consolidation followed by a breakout to the downside or upside.\u00a0 In Ethereum\u2019s case, its price has been on a major consolidation trend, failing to experience similar price surges seen in Bitcoin and other altcoins.\u00a0 With the now broken triangle pattern, TheMoonCarl is setting new bullish price targets at around $3,400 for Ethereum.\u00a0 At the time of the symmetrical triangle breakout, Ethereum was trading at around $2,707. However, as of writing, the cryptocurrency has declined by 3.15%, pushing its current price to $2,629, according to CoinMarketCap. While the analyst is highly optimistic about his $3,400 Ethereum price projection, the cryptocurrency will still have to see a 29.91% increase to achieve this feat. TH Whales Are On The Move Amidst analysts’ bullish predictions for Ethereum and its recent breakout from a key symmetrical triangle pattern, reports have revealed that large-scale investors, typically referred to as \u201cWhales\u201d are now back in action.\u00a0 Whale Alert, a blockchain tracker and analytics system revealed a series of substantial whale transactions involving the Ethereum token. In the last 24 hours, an Ethereum whale had moved a whopping 12,590 ETH tokens, worth approximately $33.8 million from an unknown wallet to Coinbase.\u00a0 Related Reading: Machine Learning Algorithm Predicts XRP Price Direction For This Week, What To Expect Additionally, in the past few hours, another Ethereum whale had transferred 8,452 ETH tokens valued at $22.4 million from an unknown wallet to Binance. Typically, when whales move coins from their private wallets to a centralized exchange, it often indicates that they may be selling off their tokens.\u00a0 While a full-blown sell-off could cast a shadow on Ethereum\u2019s already slow price momentum, it appears that whales are not only moving ETH to exchanges but also potentially accumulating tokens. Whale Alert has reported that an anonymous whale recently moved 8,811 ETH from Binance to an unknown wallet.\u00a0 These multiple transactions create uncertainty about whether whales are selling more than they are buying. However, with Ethereum\u2019s recent breakout from its symmetrical triangle pattern, bullish momentum could push prices higher, potentially encouraging more buying activity.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":647973,"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-649227","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":"\nEthereum Price Breaks Out Of Symmetrical Triangle, Next 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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:\/\/ktsl888.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Price Breaks Out Of Symmetrical Triangle, Next Stop $3,400?","url":"http:\/\/ktsl888.com\/news\/ethereum\/ethereum-price-next-stop-3400\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/ethereum\/ethereum-price-next-stop-3400\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/10\/Ethereum-Rally.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/10\/Ethereum-Rally.jpg?fit=1792%2C1024"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.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":"2024-10-23T00:00:51Z","datePublished":"2024-10-23T00:00:51Z","dateModified":"2024-10-23T00:00:51Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Price Breaks Out Of Symmetrical Triangle, Next Stop $3,400?\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ethereum\\\/ethereum-price-next-stop-3400\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ethereum\\\/ethereum-price-next-stop-3400\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/Ethereum-Rally.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/Ethereum-Rally.jpg?fit=1792%2C1024\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.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\":\"2024-10-23T00:00:51Z\",\"datePublished\":\"2024-10-23T00:00:51Z\",\"dateModified\":\"2024-10-23T00:00:51Z\"}<\/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\/10\/Ethereum-Rally.jpg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/649227"}],"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\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=649227"}],"version-history":[{"count":1,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/649227\/revisions"}],"predecessor-version":[{"id":649228,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/649227\/revisions\/649228"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/647973"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=649227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=649227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=649227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}