{"id":406044,"date":"2022-02-16T01:00:56","date_gmt":"2022-02-15T22:00:56","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/traders-say-4000-ethereum-back-on-the-cards-if-this-bullish-chart-pattern-plays-out\/"},"modified":"2022-02-16T01:00:56","modified_gmt":"2022-02-15T22:00:56","slug":"traders-say-4000-ethereum-back-on-the-cards-if-this-bullish-chart-pattern-plays-out","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/traders-say-4000-ethereum-back-on-the-cards-if-this-bullish-chart-pattern-plays-out\/","title":{"rendered":"# Traders say $4,000 Ethereum back on the cards \u2018if\u2019 this bullish chart pattern plays out"},"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-6a3c16ca3822c\" 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-6a3c16ca3822c\" 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\/traders-say-4000-ethereum-back-on-the-cards-if-this-bullish-chart-pattern-plays-out\/#Ether_is_in_a_heavy_resistance_zone\" >Ether is in a heavy resistance zone<\/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\/traders-say-4000-ethereum-back-on-the-cards-if-this-bullish-chart-pattern-plays-out\/#Bulls_could_exploit_the_inverse_head_and_shoulders_pattern\" >Bulls could exploit the inverse head and shoulders pattern<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/traders-say-4000-ethereum-back-on-the-cards-if-this-bullish-chart-pattern-plays-out\/#Bitcoin_and_Ether_have_similar_daily_charts\" >Bitcoin and Ether have similar daily charts<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Traders say $4,000 Ethereum back on the cards \u2018if\u2019 this bullish chart pattern plays out <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Global and macroeconomic concerns ranging from rising inflation rates in the United States to the prospect of Russia invading Ukraine continue to spark volatility in financial markets.<\/p>\n<p>To the surprise of many analysts, the mood in the cryptocurrency market shifted in a positive direction on Feb. 15 after Bitcoin (BTC) climbed to $44,500 and Ether (ETH) regained support at $3,100. <\/p>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/\">TradingView<\/a> shows that after bouncing off a low of $2,826 in the early trading hours on Feb. 15, the price of Ether rallied 11.4% to a daily high of $3,148. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-02\/23a591d3-57dd-4535-9bbf-a9c0c5f5a26d.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USDT 4-hour chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Here\u2019s a look at what several traders in the market are saying about the recent price action for Ether and what to be on the lookout for in the weeks ahead. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ether_is_in_a_heavy_resistance_zone\"><\/span>Ether is in a heavy resistance zone<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The stiff resistance facing Ether was addressed in a tweet by independent market analyst Micha\u00ebl van de Poppe, who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1492438845073285125\">posted<\/a> the following chart outlining the major support and resistance zones for the top altcoin. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-02\/ac65cb85-a36d-4ac0-be57-ecd0588f9dd1.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USDT 1-week chart. Source: <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<p>van de Poppe said, <\/p>\n<blockquote><p>\u201cEthereum, just like Bitcoin, was rejected at weekly order block and heavy resistance zone, ending up in a red candle for the week. With the uncertainty arising for the coming week, I&#8217;m not expecting this to break and expecting lower tests.<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Bulls_could_exploit_the_inverse_head_and_shoulders_pattern\"><\/span>Bulls could exploit the inverse head and shoulders pattern<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A more positive take on the path ahead was offered by crypto trader and pseudonymous Twitter user \u2018Phoneix\u2019, who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Phoenix_Ash3s\/status\/1493542799966449667\">posted<\/a> the following chart providing one possible trajectory for the price of Ether. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-02\/f86a5d0a-03c4-4a67-a043-4f734f57c926.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USDT 4-hour chart. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>Phoenix said, <\/p>\n<blockquote><p>\u201cWe&#8217;re going to play Ether this way, right?\u201d<\/p><\/blockquote>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Bitcoin spikes to $44.5K amid fresh warning over &#8216;exceptionally high&#8217; stocks correlation<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_and_Ether_have_similar_daily_charts\"><\/span>Bitcoin and Ether have similar daily charts<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A final bit of insight into the long-term price structure for Ether was addressed by trader Glen Goodman, the author of The Crypto Trader. Goodman\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/glengoodman\/status\/1493632518846828548\">posted<\/a> the following charts comparing the formation of an inverse head and shoulders formation on the BTC and Ether charts, noting that the \u201chead &amp; shoulders patterns are nearing completion.\u201d<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-02\/ac3cfb21-ff39-4249-9942-095b7736e261.jpg\"><figcaption style=\"text-align: center;\"><em>BTC\/USDT vs. ETH\/USD 1-day chart. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>Goodman said, <\/p>\n<blockquote><p>\u201cA couple of worries &#8211; the patterns are a bit sloping and irregular&#8230;..and also there&#8217;s the small matter of Ukraine. Wars have a tendency to mess up nice chart patterns.&#8221;<\/p><\/blockquote>\n<p>The overall cryptocurrency market cap now stands at $1.978 trillion and Bitcoin\u2019s dominance rate is 42.2%.<\/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<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\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\/traders-say-4-000-ethereum-back-on-the-cards-if-this-bullish-chart-pattern-plays-out\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Traders say $4,000 Ethereum back on the cards \u2018if\u2019 this bullish chart pattern plays out &#8221; Global and macroeconomic concerns ranging from rising inflation rates in the United States to the prospect of Russia invading Ukraine continue to spark volatility in financial markets. To the surprise of many analysts, the mood in the cryptocurrency&#8230;<\/p>\n","protected":false},"author":1,"featured_media":406045,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDIvZWJhNGNkMjctMTkzZi00NDA2LWExNDYtZGI0M2Y0MDY4NTE1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74982,74863,82402,74891,75150,73785],"class_list":["post-406044","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-btc-markets","tag-cryptocurrencies","tag-ether-price","tag-ethereum","tag-market-update","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/406044","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=406044"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/406044\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/406045"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=406044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=406044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=406044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}