{"id":367863,"date":"2021-11-16T17:01:00","date_gmt":"2021-11-16T14:01:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ethereum-price-risks-losing-4k-on-rising-wedge-breakout-fears\/"},"modified":"2021-11-16T17:01:00","modified_gmt":"2021-11-16T14:01:00","slug":"ethereum-price-risks-losing-4k-on-rising-wedge-breakout-fears","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ethereum-price-risks-losing-4k-on-rising-wedge-breakout-fears\/","title":{"rendered":"# Ethereum price risks losing $4K on &#8216;rising wedge&#8217; breakout fears"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3f9afde6a4a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3f9afde6a4a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-price-risks-losing-4k-on-rising-wedge-breakout-fears\/#More_declines_ahead\" >More declines ahead?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-price-risks-losing-4k-on-rising-wedge-breakout-fears\/#Retesting_Ascending_Triangle_resistance_as_support\" >Retesting Ascending Triangle resistance as support<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Ethereum price risks losing $4K on &#8216;rising wedge&#8217; breakout fears <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>A selloff in Ether (ETH) on Nov. 16 has increased the chances of ETH&#8217;s price falling below $4,000.<\/p>\n<p>ETH plunged 10% to around $4,100 on Tuesday, amid an ongoing market correction led by Bitcoin (BTC). In doing so, Ether dropped below its fourth-quarter upward trendline support.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/2f21841f-1ed0-46b0-a3c6-605b55d6674c.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD daily price chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>ETH\/USD also tested its 50-day exponential moving average (50-day EMA; the velvet wave in the chart above) as its new price floor before bouncing higher. The next support line to keep an eye on if the 50-day EMA is broken is somewhere around $3,700.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"More_declines_ahead\"><\/span>More declines ahead?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The given Ascending Trendline comes as a part of a Rising Wedge, a technical pattern many analysts treat as a bearish reversal signal. It <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears when the price fluctuates inside a range defined by two converging, rising trendlines. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/8d61e668-9fad-4756-8a1e-129226f5df47.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD daily price chart featuring Rising Wedge setup. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Meanwhile, analysts confirm a Wedge breakout when the price breaks below the lower trendline and if accompanied by a rise in trading volumes. They typically eye a run-down towards the level at length equal to the widest distance between the Wedge&#8217;s trendlines.<\/p>\n<p><strong><em>Related: Bitcoin and Ethereum focused trading platform launches retail investment product for a competitive APY<\/em><\/strong><\/p>\n<p>As a result, Ether has the potential to drop below $3,000 based on the Rising Wedge setup. Nonetheless, there is a catch.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Retesting_Ascending_Triangle_resistance_as_support\"><\/span>Retesting Ascending Triangle resistance as support<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Offsetting the bearish reversal setup brought forth by the Rising Wedge structure is Ascending Triangle, which puts\u00a0Ether at around $6,500 by the end of 2021<\/p>\n<p>The bullish setup emerges as the ETH price retests the Triangle&#8217;s resistance level as support days after breaking above it. Such a move typically removes weak hands from the market and creates opportunities for traders\/investors with a long-term upside outlook based on the asset&#8217;s strong underlying fundamentals.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/ec672cda-c5e4-4af5-bee4-74d7f2be2207.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>ETH\/USD three-day price chart featuring Ascending Triangle setup. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Therefore, Ether&#8217;s latest pullback may end up exhausting as the ETH price reached the Triangle resistance below $4,000 \u2014 also the Rising Wedge&#8217;s lower trendline. Should a rebound follow suit, the price could climb toward $6,500.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ethereum-price-risks-losing-4k-on-rising-wedge-breakout-fears\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Ethereum price risks losing $4K on &#8216;rising wedge&#8217; breakout fears &#8221; A selloff in Ether (ETH) on Nov. 16 has increased the chances of ETH&#8217;s price falling below $4,000. ETH plunged 10% to around $4,100 on Tuesday, amid an ongoing market correction led by Bitcoin (BTC). In doing so, Ether dropped below its fourth-quarter&#8230;<\/p>\n","protected":false},"author":1,"featured_media":367864,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTEvYTlmYzA4MzktZjU1Mi00NmNkLWI3MDctYjk3NDM1OGUzYzYwLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[79806,82402,74891,74939,78261,73785],"class_list":["post-367863","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-analysis","tag-ether-price","tag-ethereum","tag-market-analysis","tag-tech-analysis","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/367863","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=367863"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/367863\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/367864"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=367863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=367863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=367863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}