0
67
ETHUSD: Rounding Bottom Pattern Above $2,700
Ethereum was unable to sustain its bullish momentum this week, and after touching a high of $3,036 on April 26th started to decline against the US dollar.
The bearish momentum has pulled down the prices of Ethereum below the $2,800 handle touching a low of $2,766 on April 26th.
The price has entered a consolidation channel above the $2,700 handle; we are in a mildly bullish phase in the European trading session.
We can clearly see a rounding bottom pattern above the $2,700 handle, which is a bullish pattern signifying the end of a bearish phase and the start of a bullish phase in the markets.
More info: blog FXOpen
