Ether looks north after last week's falling wedge breakout. However, risk-off keeps buyers at bay. godbole17 reports.
Ether , the second largest cryptocurrency by market value, looked set for renewed price ahead of the Ethereum"Merge," according to observers tracking chart patterns.
Last week, the native token of Ethereum's blockchain broke out of a falling wedge pattern identified by two converging and descending trendlines connecting Aug. 14 and Aug. 25 highs and lows hit on Aug. 10, Aug. 20 and Aug. 28. Ether's wedge breakout indicates the correction from the Aug. 14 high of $2,000 has ended and the uptrend from the June 13 low of $1,000 is likely to resume.
– the technological upgrade that will transform the smart contract platform to a proof-of-stake network. The overhaul is likely to cause a drastic reduction in ETH supply and bring a store of value appeal to the cryptocurrency.Traders often use technical analysis – a study of price patterns – to help make investment decisions.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Euro slides below $0.99 after Russia halts gas supplies to EuropeThe euro has fallen below $0.99 for the first time in 20 years after Russia said it would shut off its main gas supply pipeline to Europe indefinitely.
Les mer »
Russia blames Europe for Nord Stream 1 haltKremlin blames European politicians for keeping shut the Nord Stream 1, saying their economic sanctions on Russia had hindered Gazprom's maintenance of the pipeline
Les mer »
Russia's Gazprom indefinitely shuts gas flow to EuropeRussia state owned energy giant Gazprom has extended its pipeline shutdown indefinitely, missing its Saturday deadline to restart natural gas supplies to Europe.
Les mer »
CEO Born in Soviet Russia Says Metaverse Is Just Like Communist PropagandaPhil Libin, founder of note-taking app Evernote who grew up in the Soviet Union, says that Meta's Metaverse is like communist propaganda.
Les mer »