{"id":608133,"date":"2024-05-15T17:00:22","date_gmt":"2024-05-15T17:00:22","guid":{"rendered":"https:\/\/wncen.com\/?p=608133"},"modified":"2024-05-15T11:42:11","modified_gmt":"2024-05-15T11:42:11","slug":"ethereum-bull-flag-breakout","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-bull-flag-breakout\/","title":{"rendered":"Ethereum Bull Flag Breakout: ATH On The Horizon As Major Metrics Turn Bullish"},"content":{"rendered":"

Crypto analyst Javon Marks<\/span><\/a> has highlighted several metrics that have turned bullish for <\/span>Ethereum (ETH)<\/span><\/a>. The analyst noted that one of these metrics suggests an all-time high (ATH) for the second-largest crypto token.\u00a0<\/span><\/p>\n

Bullish Metrics For Ethereum<\/h2>\n

Marks remarked in an X (formerly Twitter) <\/span>post<\/span><\/a> that the bull flag-like price structure has formed on the Ethereum chart. He added that higher lows are forming in Ethereum\u2019s price action, which is also a <\/span>bullish signal<\/span><\/a> as it suggests a strong resistance to downward trends. Meanwhile, the analyst claims lower lows in the <\/span>Relative Strength Index (RSI)<\/span><\/a> indicate a hidden bullish divergence with Ethereum\u2019s price.<\/span><\/p>\n

Related Reading: Brace For Impact: Mt. Gox Set To Inject 142,000 BTC And 143,000 Bitcoin Cash Into The Market- Here\u2019s When<\/a><\/div>\n
\"Ethereum
Source: X<\/figcaption><\/figure>\n

Marks then raised the possibility of <\/span>Ethereum hitting a new ATH<\/span><\/a>, stating that the \u201cbull flag breakout might lead into new all-time highs and be of major service in many Altcoin progressions.\u201d Before then, he claimed that Ethereum could soon experience a larger price breakout, making the crypto token experience a 63% upside to $4,811.<\/span><\/p>\n

Crypto analyst Micha\u00ebl van de Poppe <\/span><\/a>also <\/span>recently suggested<\/span><\/a> that Ethereum could make a major move soon enough and lead altcoins to make new highs. According to him, this will be triggered by the news surrounding the Ethereum ETF, as he expects that to be the \u201crotation for the Altcoins.\u201d<\/span><\/p>\n

\"Ethereum
Source: X<\/figcaption><\/figure>\n

However, Ethereum also risks experiencing a significant decline, considering <\/span>reports<\/span><\/a> that the Securities and Exchange Commission (SEC) might reject the Ethereum ETF applications. Crypto analyst James Van Straten <\/span>stated<\/span><\/a> that a rejection of the Spot ETF \u201csends the ETHBTC ratio lower 0.047 to 0.03 as a long-term projection.\u201d<\/span><\/p>\n

This was one of the reasons why the analyst stated that \u201cEthereum looks like it’s going to the grave.\u201d He also alluded to the fact that ETH has become inflationary with the Decun upgrade reducing transaction fees, which has ultimately reduced ETH\u2019s burn rate.\u00a0<\/span><\/p>\n

\"Ethereum
Source: Ultrasound Money<\/figcaption><\/figure>\n

Things Aren\u2019t Looking Good For ETH<\/h2>\n

Crypto analyst Derek recently mentioned that \u201c<\/span>Ethereum dominance<\/span><\/a> and recent performance are heading toward their worst ever.\u201d He noted that attention has turned to Bitcoin due to the reports about a potential rejection of the <\/span>Ethereum ETF<\/span><\/a> and <\/span>securities status<\/span><\/a>, which has put pressure on investment sentiment. According to him, this has caused the \u201cimbalance in dominance\u201d to reach its worst point.\u00a0<\/span><\/p>\n

Related Reading: This Crypto Expert Called The Bitcoin Top in 2021, Now He\u2019s Calling The Bottom In 2024<\/a><\/div>\n

Derek further noted that Ethereum\u2019s <\/span>unimpressive price action<\/span><\/a> is affecting other <\/span>altcoins<\/span><\/a>, as their prices are \u201cdepressed.\u201d He also claimed that the prices of layer two coins \u201ccontinued to be under pressure.\u201d The analyst suggested that things could get worse, as the ETH\/BTC chart shows a downward wedge pattern in progress. He claims that altcoins can only \u201cbreathe\u201d if Ethereum can escape this pattern quickly.<\/span><\/p>\n

At the time of writing, Ethereum is trading at around $2906, down in the last 24 hours according to <\/span>data<\/span><\/a> from CoinMarketCap.\u00a0<\/span><\/p>\n

\"Ethereum
ETH price fails to reach $3,000 | Source: ETHUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image from Metaverse Post, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Crypto analyst Javon Marks has highlighted several metrics that have turned bullish for Ethereum (ETH). The analyst noted that one of these metrics suggests an all-time high (ATH) for the second-largest crypto token.\u00a0 Bullish Metrics For Ethereum Marks remarked in an X (formerly Twitter) post that the bull flag-like price structure has formed on the Ethereum chart. He added that higher lows are forming in Ethereum\u2019s price action, which is also a bullish signal as it suggests a strong resistance to downward trends. Meanwhile, the analyst claims lower lows in the Relative Strength Index (RSI) indicate a hidden bullish divergence with Ethereum\u2019s price. Related Reading: Brace For Impact: Mt. Gox Set To Inject 142,000 BTC And 143,000 Bitcoin Cash Into The Market- Here\u2019s When Marks then raised the possibility of Ethereum hitting a new ATH, stating that the \u201cbull flag breakout might lead into new all-time highs and be of major service in many Altcoin progressions.\u201d Before then, he claimed that Ethereum could soon experience a larger price breakout, making the crypto token experience a 63% upside to $4,811. Crypto analyst Micha\u00ebl van de Poppe also recently suggested that Ethereum could make a major move soon enough and lead altcoins to make new highs. According to him, this will be triggered by the news surrounding the Ethereum ETF, as he expects that to be the \u201crotation for the Altcoins.\u201d However, Ethereum also risks experiencing a significant decline, considering reports that the Securities and Exchange Commission (SEC) might reject the Ethereum ETF applications. Crypto analyst James Van Straten stated that a rejection of the Spot ETF \u201csends the ETHBTC ratio lower 0.047 to 0.03 as a long-term projection.\u201d This was one of the reasons why the analyst stated that \u201cEthereum looks like it’s going to the grave.\u201d He also alluded to the fact that ETH has become inflationary with the Decun upgrade reducing transaction fees, which has ultimately reduced ETH\u2019s burn rate.\u00a0 Things Aren\u2019t Looking Good For ETH Crypto analyst Derek recently mentioned that \u201cEthereum dominance and recent performance are heading toward their worst ever.\u201d He noted that attention has turned to Bitcoin due to the reports about a potential rejection of the Ethereum ETF and securities status, which has put pressure on investment sentiment. According to him, this has caused the \u201cimbalance in dominance\u201d to reach its worst point.\u00a0 Related Reading: This Crypto Expert Called The Bitcoin Top in 2021, Now He\u2019s Calling The Bottom In 2024 Derek further noted that Ethereum\u2019s unimpressive price action is affecting other altcoins, as their prices are \u201cdepressed.\u201d He also claimed that the prices of layer two coins \u201ccontinued to be under pressure.\u201d The analyst suggested that things could get worse, as the ETH\/BTC chart shows a downward wedge pattern in progress. He claims that altcoins can only \u201cbreathe\u201d if Ethereum can escape this pattern quickly. At the time of writing, Ethereum is trading at around $2906, down in the last 24 hours according to data from CoinMarketCap.\u00a0 Featured image from Metaverse Post, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":608173,"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-608133","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 Bull Flag Breakout: ATH On The Horizon As Major Metrics Turn Bullish<\/title>\n<meta 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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:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Bull Flag Breakout: ATH On The Horizon As Major Metrics Turn Bullish","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-bull-flag-breakout\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-bull-flag-breakout\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Ethereum_144307.jpeg?resize=200%2C168","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Ethereum_144307.jpeg?fit=300%2C168"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.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":"2024-05-15T17:00:22Z","datePublished":"2024-05-15T17:00:22Z","dateModified":"2024-05-15T17:00:22Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Bull Flag Breakout: ATH On The Horizon As Major Metrics Turn Bullish\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-bull-flag-breakout\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-bull-flag-breakout\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Ethereum_144307.jpeg?resize=200%2C168\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Ethereum_144307.jpeg?fit=300%2C168\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.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\":\"2024-05-15T17:00:22Z\",\"datePublished\":\"2024-05-15T17:00:22Z\",\"dateModified\":\"2024-05-15T17:00:22Z\"}<\/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\/2024\/05\/Ethereum_144307.jpeg?fit=300%2C168","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/608133"}],"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\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=608133"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/608133\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/608173"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=608133"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=608133"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=608133"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}