{"id":551279,"date":"2023-09-14T15:00:26","date_gmt":"2023-09-14T15:00:26","guid":{"rendered":"https:\/\/wncen.com\/?p=551279"},"modified":"2023-09-14T12:48:17","modified_gmt":"2023-09-14T12:48:17","slug":"ethereum-health-analysts-red-flags-and-failed-bullish-patterns","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-health-analysts-red-flags-and-failed-bullish-patterns\/","title":{"rendered":"Ethereum Health: Analyst&#8217;s Red Flags And Failed Bullish Patterns"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Ethereum (ETH) investors are bracing for a turbulent ride ahead as a well-regarded crypto analyst casts a shadow of doubt over the smart contract platform&#8217;s future.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">In a <\/span><a href=\"https:\/\/dailyhodl.com\/2023\/09\/13\/top-analyst-warns-of-imminent-ethereum-collapse-says-eth-flashing-failed-bullish-pattern\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">recent report<\/span><\/a><span style=\"font-weight: 400\">, Nicholas Merten predicts that Ethereum has less than a year to break free from an ascending triangle pattern, a technical indicator that holds significant implications for the cryptocurrency&#8217;s trajectory.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/tron-shows-might-with-4-8-m-daily-transactions-will-this-boost-trx-price\/\" target=\"_blank\" rel=\"noopener \">Tron Shows Might With 4.8-M Daily Transactions \u2013 Will This Boost TRX Price?<\/a><\/div>\n<h2><strong>The Enigma Of The Ascending Triangle Pattern<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">In a nutshell, an ascending triangle pattern is a chart formation that typically indicates an impending breakout. It forms when the price of an asset reaches higher lows, forming a rising trendline (the ascending side of the triangle), while facing resistance at a horizontal level (the flat top of the triangle). The longer the pattern persists, the more pressure builds for a decisive price move, either upwards or downwards.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Merten, a prominent voice in the crypto community, has been closely monitoring Ethereum&#8217;s performance against this crucial pattern. According to Merten, Ethereum&#8217;s inability to convincingly breach the resistance at around $2,000 is a cause for concern.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">&#8220;Ethereum cannot show up to the plate. It keeps getting shot down at around $2,000, and that&#8217;s okay for a while,\u201d he emphasized.\u201d But eventually, you&#8217;ve got to be able to either break out to the upside or, if you break through the ascending line of support to the downside, that spells bad news.&#8221;<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/LfRkRcgZ\/\" width=\"2475\" height=\"1179\"><\/p>\n<pre style=\"text-align: center\">ETHUSD trading at $1,622 as of Thursday, Sept. 14. Chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<h2><strong>The Ethereum Exodus And Ambiguous Implications<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Meanwhile, a <\/span><a href=\"https:\/\/u.today\/enormous-amount-of-ethereum-eth-rapidly-leaving-exchanges\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">separate report<\/span><\/a><span style=\"font-weight: 400\"> has presented a puzzling trend that adds to the uncertainty surrounding Ethereum. Approximately 640,000 ETH has recently exited exchanges, a move that could be interpreted as a bullish sign. This outflow suggests that investors might be hoarding Ethereum for the long haul, anticipating a future price surge.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, caution is warranted. Ethereum&#8217;s long-term performance has not been impressive, with persistent bearish trends weighing it down. This raises questions about the credibility of the accumulation theory. While investors might be tempted to stock up on Ethereum at its current lower price point, they must tread carefully given the unpredictable nature of the cryptocurrency market.<\/span><\/p>\n<div class=\"related-reading-shortcode\">\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/can-ethereum-tally-spring-highs-after-correction-top-analyst-shares-his-views\/\" target=\"_blank\" rel=\"noopener \">Can Ethereum Tally Spring Highs After Correction? Top Analyst Shares His Views<\/a><\/div>\n<\/div>\n<p><span style=\"font-weight: 400\">At the time of writing, Ethereum is trading at $1,619, displaying a 1.7% gain over the past 24 hours, yet nursing a 1.0% loss in the seven-day period, according to <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/ethereum\" rel=\"nofollow\"><span style=\"font-weight: 400\">CoinGecko<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The coming months will likely determine whether Ethereum will defy the odds, break free from its current constraints, and soar to new heights &#8212; or if it will succumb to the pressures outlined by Merten, leading to a collapse that could reshape the crypto landscape.<\/span><\/p>\n<p><em>(This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n<p><em><span style=\"font-weight: 400\">Featured image from Daily Express<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum (ETH) investors are bracing for a turbulent ride ahead as a well-regarded crypto analyst casts a shadow of doubt over the smart contract platform&#8217;s future.\u00a0 In a recent report, Nicholas Merten predicts that Ethereum has less than a year to break free from an ascending triangle pattern, a technical indicator that holds significant implications for the cryptocurrency&#8217;s trajectory. Related Reading: Tron Shows Might With 4.8-M Daily Transactions \u2013 Will This Boost TRX Price? The Enigma Of The Ascending Triangle Pattern In a nutshell, an ascending triangle pattern is a chart formation that typically indicates an impending breakout. It forms when the price of an asset reaches higher lows, forming a rising trendline (the ascending side of the triangle), while facing resistance at a horizontal level (the flat top of the triangle). The longer the pattern persists, the more pressure builds for a decisive price move, either upwards or downwards. Merten, a prominent voice in the crypto community, has been closely monitoring Ethereum&#8217;s performance against this crucial pattern. According to Merten, Ethereum&#8217;s inability to convincingly breach the resistance at around $2,000 is a cause for concern.\u00a0 &#8220;Ethereum cannot show up to the plate. It keeps getting shot down at around $2,000, and that&#8217;s okay for a while,\u201d he emphasized.\u201d But eventually, you&#8217;ve got to be able to either break out to the upside or, if you break through the ascending line of support to the downside, that spells bad news.&#8221; ETHUSD trading at $1,622 as of Thursday, Sept. 14. Chart: TradingView.com The Ethereum Exodus And Ambiguous Implications Meanwhile, a separate report has presented a puzzling trend that adds to the uncertainty surrounding Ethereum. Approximately 640,000 ETH has recently exited exchanges, a move that could be interpreted as a bullish sign. This outflow suggests that investors might be hoarding Ethereum for the long haul, anticipating a future price surge. However, caution is warranted. Ethereum&#8217;s long-term performance has not been impressive, with persistent bearish trends weighing it down. This raises questions about the credibility of the accumulation theory. While investors might be tempted to stock up on Ethereum at its current lower price point, they must tread carefully given the unpredictable nature of the cryptocurrency market. Related Reading: Can Ethereum Tally Spring Highs After Correction? Top Analyst Shares His Views At the time of writing, Ethereum is trading at $1,619, displaying a 1.7% gain over the past 24 hours, yet nursing a 1.0% loss in the seven-day period, according to CoinGecko. The coming months will likely determine whether Ethereum will defy the odds, break free from its current constraints, and soar to new heights &#8212; or if it will succumb to the pressures outlined by Merten, leading to a collapse that could reshape the crypto landscape. (This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Daily Express<\/p>\n","protected":false},"author":557,"featured_media":551349,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,1144,16163,1946,8686,4735],"class_list":["post-551279","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-btcusd","tag-eth-price","tag-ethereum","tag-ethusd","tag-price-action"],"acf":[],"yoast_head":"\n<title>Ethereum Health: Analyst&#039;s Red Flags And Failed Bullish Patterns<\/title>\n<meta name=\"description\" content=\"Ethereum (ETH) investors are bracing for a turbulent ride ahead as a well-regarded crypto analyst casts a shadow of doubt over the smart contract\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Health: Analyst&#8217;s Red Flags And Failed Bullish Patterns","url":"http:\/\/wncen.com\/news\/ethereum-health-analysts-red-flags-and-failed-bullish-patterns\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum-health-analysts-red-flags-and-failed-bullish-patterns\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a-53.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a-53.png?fit=468%2C273"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","btcusd","eth price","ethereum","ethusd","price action"],"dateCreated":"2023-09-14T15:00:26Z","datePublished":"2023-09-14T15:00:26Z","dateModified":"2023-09-14T15:00:26Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Health: Analyst&#8217;s Red Flags And Failed Bullish Patterns\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum-health-analysts-red-flags-and-failed-bullish-patterns\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum-health-analysts-red-flags-and-failed-bullish-patterns\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/a-53.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/a-53.png?fit=468%2C273\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"btcusd\",\"eth price\",\"ethereum\",\"ethusd\",\"price action\"],\"dateCreated\":\"2023-09-14T15:00:26Z\",\"datePublished\":\"2023-09-14T15:00:26Z\",\"dateModified\":\"2023-09-14T15:00:26Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a-53.png?fit=468%2C273","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/551279"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=551279"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/551279\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/551349"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=551279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=551279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=551279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}